Share-split context: A forward split was recorded on Jul 24, 2008 with coefficient 2. A forward split turns each old share into multiple new shares and lowers the quoted price per share proportionally. Proportional ownership is unchanged at the split moment, so the split itself creates neither a gain nor a loss. The price-return figures in this report are already split-adjusted.

ETF Education Report: ISHARES JPX-NIKKEI 400 ETF (JPXN)

What this ETF is trying to do

The ISHARES JPX-NIKKEI 400 ETF (ticker: JPXN) is an exchange-traded fund listed on the NYSE. While specific holdings are not listed in the current data, this type of ETF is designed to track a specific index of stocks.

What the numbers show

When looking at an ETF, it is important to understand two different types of returns: price return and total return.

• Price Return: This measures only how much the share price has changed.

• Total Return: This includes both the change in share price AND any cash distributions (dividends) paid out to investors.

For JPXN, the numbers show growth over different time periods:

• Year-to-Date (YTD): The price return is approximately 20.94%, while the total return is approximately 21.72%.

• One Year: The price return is approximately 20.50%, while the total return is approximately 24.22%.

• Three Years: The price return is approximately 65.39%, while the total return is approximately 79.18%.

• Five Years: The five-year total return is approximately 61.49%.

Note that this ETF has a history of "forward splits." In a forward split, each old share becomes multiple new shares. This makes the price per share look lower, but it does not change how much of the fund you own. Because this ETF has a split history, we use split-adjusted returns to see the true performance.

Income and distribution explanation

Some investors look for ETFs that pay out cash, known as distributions. The distribution yield for JPXN is approximately 2.63%. This means the cash paid out is about 2.63% of the current share price. Over the last 12 months, there were 2 distributions. The frequency of these payments is described as "irregular" or "less frequent."

NAV erosion explanation

"NAV erosion" is a term used to describe when the value of the underlying assets in an ETF decreases significantly. It is important to distinguish between a falling share price and NAV erosion. In the case of JPXN, the erosion-risk score is 100, and the label states "No price erosion detected." The erosion severity is rated as "good," and there is no severe erosion-risk flag.

Pros

• The ETF has shown positive price returns and total returns over the one-year, three-year, and five-year periods.

• The erosion-risk measurements suggest the fund is not currently showing signs of price deterioration.

Cons

• The distribution frequency is irregular, meaning payments do not happen on a strict, predictable schedule.

• There is no data provided regarding the specific companies held within the fund.

Beginner takeaway

When studying JPXN, remember that total return is the most complete picture because it includes both price changes and cash payments. While this ETF provides a distribution yield, always look at the total return to see how the investment performed overall.