JAPN ETF — Horizon Kinetics Japan Owner Operator ETF

Horizon Kinetics Japan Owner Operator ETF (JAPN)

Updated October 16, 2026.

JAPN is an ETF. its trailing-12-month yield is 0.23%, its expense ratio is 0.85%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is 6.9% over the past 1.4 years, 25.3 points behind SPY at 32.2%.

Horizon Kinetics Japan Owner Operator ETF is an actively managed fund that invests primarily in Japanese companies where individuals with significant ownership stakes operate the business, with at least eighty percent of assets deployed in Japanese equities. The fund carries a modest current distribution rate paid annually, along with an expense ratio of 0.85%; note that the latest distribution was special or one-time in nature and may not recur. The fund appeals to investors seeking exposure to Japanese owner-operated businesses, though its non-diversified structure concentrates risk.

JAPN performance versus SPY

Price and return data through 2026-10-16.

Total return is 6.9% over the past 1.4 years, 25.3 points behind SPY at 32.2%. Its deepest 1-year drawdown was 23.0%.

JAPN key facts

Distribution Safety Score™

50 · Unproven

Issuer

Horizon Kinetics

Asset type

ETF

Asset class

Equity

Inception date

05/12/2025

Expense ratio

0.85%

Distribution frequency

Annual

Trailing yield

0.23%

Last close

$26.74 (as of 2026-10-16)

AUM

$24,786,754

Average volume

3816.0

Dividend

$0.062

Ex-dividend date

12/23/2025

Payment date

12/24/2025

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (0.23%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Horizon Kinetics; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

JAPN risks and drawbacks

Payments are annual, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 23.0%.

Who may consider JAPN — and who may not

It is a weaker fit for investors who need monthly cash flow (JAPN pays annual); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on JAPN

• All tickers starting with J

Tagged: International.

Frequently asked questions

More securities from Horizon Kinetics.