ETFGI reports that assets invested in the ETFs industry in Japan reached a new record of US$648.38 billion at the end of the first half of 2025

Press Release

LONDON — July 15, 2025 — ETFGI, a leading independent research and consultancy firm renowned for its expertise in subscription research, consulting services, events, and ETF TV on global ETF industry trends, reported today that assets invested in the ETFs industry in Japan reached a new record of US$648.38 billion at the end of June. During June the ETFs industry in Japan suffered net outflows of US$2.72 billion, bringing year-to-date net inflows to US$2.21 billion, according to ETFGI's June 2025 Japanese ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)

Japan ETF Industry Reaches New Asset Record Despite Outflows

Highlights

  • Record AUM: Assets under management reached a new high of $648.38 billion at the end of June, surpassing the previous record of $629.77 billion in May.
  • YTD Growth: Assets have grown 13.2% year-to-date, rising from $572.78 billion at the end of 2024.
  • June Outflows: Despite the record AUM, the industry saw net outflows of $2.72 billion in June—marking the second consecutive month of outflows.
  • YTD Net Inflows: Total net inflows for 2025 stand at $2.21 billion, ranking as the tenth highest on record. For context, the highest YTD net inflows were $44.95 billion in 2020, followed by $39.08 billion in 2018.

These figures reflect a maturing ETF market in Japan, with long-term asset growth continuing despite short-term investor repositioning.

“The S&P 500 increased by 5.09% in June and was up by 6.20% in 2025. Developed markets excluding the US increased by 3.24% in June and were up 20.29% in 2025. Korea (up 16.12%) and Israel (up 11.60%) saw the largest increases amongst the developed markets in June. Emerging markets increased by 4.80% during June and were up 11.41% in 2025. Taiwan (up 8.53%) and Turkey (up 8.49%) saw the largest increases amongst emerging markets in June”, according to Deborah Fuhr, managing partner, founder, and owner of ETFGI.

Growth in assets in the ETFs industry in Japan as of the end of June

      

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The ETFs industry in Japan has 367 products, with 389 listings, assets of US$648.38 Bn, from 16 providers listed on 2 exchanges at the end of June.

 

During June, ETFs suffered net outflows of $2.72 Bn. Equity ETFs suffered net outflows of $2.10 Bn, bringing net inflows for the year to $1.33 Bn, lower than the $4.64 Bn in net inflows YTD in 2024. Fixed income ETFs reported net inflows of $51.81 Mn during June, bringing YTD net outflows to $429.12 Mn, lower than the $974.14 Mn in net inflows YTD in 2024. Commodities ETFs reported net inflows of $277.14 Mn during June, bringing YTD net inflows to $1.18 Bn, much higher than the $366.82 Mn in net inflows YTD in 2024.

 

At the end of March, assets invested in the ETFs industry in Japan were US$578.35 Bn, while the Bank of Japan held ETF assets of US$467 Bn.

 

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Substantial inflows can be attributed to the top 20 ETF's by net new assets, which collectively gathered $1.48 Bn in June. NEXT FUNDS Nikkei 225 Double Inverse Index Exchange Traded Fund (1357 JP) gathered $224.58 Mn, the largest individual net inflow.

 

Top 20 ETFs by net new assets June 2025: Japan

Name

Ticker

Assets
(US$ Mn)
Jun-25

NNA
(US$ Mn)
 YTD-25

NNA
(US$ Mn)
Jun-25

NEXT FUNDS Nikkei 225 Double Inverse Index Exchange Traded Fund

1357 JP

          796.66

                251.26

             224.58

Japan Physical Gold ETF

1540 JP

       5,323.81

             1,026.36

             198.17

NZAM ETF Nikkei 225

2525 JP

       1,051.43

                259.00

             174.42

Simplex - Nikkei Average Bear Double Exchange Trade Fund

1360 JP

          324.05

                  45.34

             113.39

NEXT FUNDS Nikkei 225 High Dividend Yield Stock 50 Index Exchange Traded Fund

1489 JP

       2,555.80

                452.44

             109.03

Global X Japan Mid & Small Cap Leaders ESG ETF

2837 JP

          151.99

                  92.65

             101.51

Global X Japan Global Leaders ESG ETF

2641 JP

          615.85

                  68.96

              76.18

iShares MSCI Japan High Dividend ETF

1478 JP

          878.44

                150.55

              54.09

Rakuten ETF-Nikkei 225 Double Inverse Index

1459 JP

          164.54

                  12.38

              49.80

NZAM ETF J-REIT Index

1595 JP

       1,380.53

                  43.38

              49.20

One ETF TOPIX

1473 JP

       4,345.25

                112.96

              43.13

Listed Index Fund 225

1330 JP

      38,089.55

                734.19

              39.95

iShares Core 7-10 Year US Treasury Bond JPY Hedged ETF

1482 JP

       1,084.70

               (144.26)

              37.50

iShares Euro Investment Grade Corporate Bond JPY Hedged ETF

2623 JP

            85.89

                  25.86

              36.64

NEXT FUNDS NOMURA Crude Oil Long Index Linked ETF

1699 JP

          149.50

                  17.47

              34.60

NEXT FUNDS Nomura Japan Equity High Dividend 70 ETF

1577 JP

       1,026.67

                 (30.96)

              33.43

Simplex Nikkei225 Bear -1x ETF

1580 JP

          104.18

                  (0.86)

              29.90

iShares Germany Government Bond JPY Hedged ETF - JPY Hdg

2857 JP

          111.75

               (139.57)

              29.87

NEXT FUNDS Nikkei 225 Inverse Index ETF

1571 JP

          158.76

                  12.32

              21.74

SMDAM TOPIX ETF

2557 JP

          516.50

                  38.13

              19.35

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Investors have tended to invest in Leveraged Inverse ETFs during June.
 

Contact deborah.fuhr@etfgi.com if you have any questions or comments on the press release or ETFGI events, research or consulting services.

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Topics will include:

Sept 3rd, Day 1 in person in Hong Kong

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  • How Investors are Using ETFs
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  • Accessing India
  • Rise of Alternative Strategies in the ETF Wrapper
  • Understanding the Evolving Landscape of ETFs in Taiwan
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ETFGI (www.ETFGI.com) is a leading independent firm which has for over 13 years provided subscription research services providing monthly reports covering trends in the global ETFs ecosystem, factsheets on all ETFs and ETPs listed globally, consulting services, ETF TV (www.ETFtv.net) and our Annual ETFGI Global ETFs Insights Summit educational events.

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Contact: 
Deborah Fuhr 
Managing Partner, Founder 
ETFGI 
Mobile: +44 777 5823 111 
Email: deborah.fuhr@etfgi.com 
Web: www.etfgi.com 

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