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Amundi Japan TOPIX II UCITS ETF EUR Hedged DistIndex, costs, backtest, listings and taxation

ISIN: FR0011475078Ticker: JPNH (Borsa Italiana) · JPNH (Xetra) · JPNH (Euronext Paris) · JPNH (SIX)Issuer: AmundiClass: EUR Hedged Dist Currency hedging: EUR-hedged share class
Issuer-declared data
Declared index
Topix Total Return Index JPY
TER
0.45%
Transaction costs
0.05% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Replication
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
Fund assets
103.8 mln EUR
NAV
346.08 EUR (1 September 2026)
Domicile
France
Inception date
19 September 2018
Data as declared by Amundi in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

Amundi Japan TOPIX II UCITS ETF EUR Hedged Dist tracks the issuer-declared index: Topix Total Return Index JPY. Mind the share class: this is the version hedged to EUR — returns reflect the index plus the effect (and cost) of hedging into that currency. The declared annual cost (TER) is 0.45%, plus 0.05% in transaction costs estimated by the issuer in the KID. Replication is direct physical replication; income is distributed to investors. The fund has assets of about 104 million euro, was launched on 19 September 2018 and is domiciled in France. In our registry 3 other ETFs declare the same index.

The fund’s objective — in the issuer’s words

The Fund is a passively managed index-based UCITS. The Fund's objective is to replicate, both upwards and downwards, the performance of the TOPIX® Gross Total Return Index (gross dividends reinvested) (the "Benchmark"), denominated in Japanese yen (JPY) and representative of all Japanese shares listed in the first section of the Tokyo Stock Exchange, while minimising the tracking error between the performance of the Fund and that of the Benchmark. The expected level of the Tracking Error under normal market conditions is indicated in the Fund prospectus. The Japan Exchange Group website (www.jpx.co.jp/english/) contains more detailed information about the Japan Exchange Group indices. The Fund aims to achieve its objective through direct replication, namely by investing primarily in the components of the Benchmark. In order to optimise Benchmark replication, the Fund may use a sampling technique, as well as guaranteed temporary sales of securities. Any use of these techniques is indicated on the website amundietf.com. The updated composition of the portfolio of securities held by the Fund is mentioned on the website amundietf.com. In addition, the indicative net asset value appears on the Fund's Reuters and Bloomberg pages and may also be mentioned on the Fund's stock exchange websites. In order to hedge the currency risk of the share class against that of the Index, the Sub-fund uses a hedging strategy that reduces the impact of variations between the Index currency and the share class currency.

Keep reading the KID section ▾

Intended retail investors:This product is intended for investors with a basic knowledge and/or no or limited experience of investing in funds, who are seeking to increase the value of their investment and receive income over the recommended holding period and who are able to bear a loss of up to the full amount invested. The product is not open to residents of the United States of America/"U.S. Person" (the definition of "U.S. Person" is available on the Management Company's website www.amundi.com and/or in the prospectus). Redemption and transaction: The Sub-fund's shares are listed and traded on one or more stock exchanges. Under normal circumstances, you can trade shares during stock exchange trading hours. Only authorised participants (e.g. selected financial institutions) can trade shares directly with the Subfund on the primary market. Further details are provided in the MULTI UNITS FRANCE prospectus.

Distribution Policy:As this is a distributing share class, investment income is distributed. More information: Further information regarding this product, including the prospectus and financial reports, is available free of charge on request from: Amundi Asset Management, 91-93 boulevard Pasteur, 75015 Paris, France.

From the KID’s “Objectives” section · 4 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.45%: above the median of equity ETFs we track (0.22%).
  • Average tracking difference over the last 3 years: -1.39% p.a., against a declared TER of 0.45%.
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · EUR · from Apr 2013 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+318.0%
Annualised
+11.3%
Volatility (ann.)
19.4%
Max drawdown
-34.90%
-14%+75%+163%+252%+340%Apr 2013Aug 2016Dec 2019Apr 2023Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+318%Apr 2013Sept 2026
Currency-hedged share class: our figures are computed on the issuer’s NAV, where the hedge is applied at the daily fixing. Comparison sites using the exchange price may show returns and volatility that differ by 1–2 points: on hedged classes the price-vs-NAV gap is structurally wider and grows with the length of the window. Not a data error — a measurement convention. Details in the methodology.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-10%-20%-30%-40%-50%2013201520172019202120232025−34.90% · 16 Mar 2020
Max drawdown
-34.90%
peak → trough
Trough
16 Mar 2020
from the 23 Jan 2018 peak
Recovery time
326 days
recovery only: trough to break-even · ≈ 11 months
Underwater
1,109 days
decline + recovery: peak to break-even · ≈ 3 years · → recovered on 05 Feb 2021

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
23 Jan 201816 Mar 2020-34.90%05 Feb 20211,109
10 Aug 201512 Feb 2016-29.46%28 Sept 2017780
11 Jul 202405 Aug 2024-24.70%27 Jun 2025351
22 May 201313 Jun 2013-18.27%26 Dec 2013218
14 Sept 202109 Mar 2022-17.17%02 May 2023595

Calendar-year returns

2016
-2.1%
2017
20.4%
2018
-17.6%
2019
16.1%
2020
5.4%
2021
10.8%
2022
-4.0%
2023
31.0%
2024
22.4%
2025
26.2%
2026
22.1%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20264.710.5-10.56.66.31.10.33.9-1.322.1
20250.4-3.70.20.45.12.03.24.62.96.21.51.126.2
20248.05.14.6-0.71.41.7-0.4-3.3-1.52.1-0.44.222.4
20234.51.11.72.83.77.71.70.70.7-2.75.70.231.0
2022-4.9-0.53.7-2.50.6-2.23.71.1-5.65.03.0-4.6-4.0
20210.13.15.5-2.91.31.0-2.33.04.1-1.6-3.93.410.8
2020-2.2-10.4-6.54.36.7-0.3-4.08.01.1-2.910.92.85.4
20194.92.5-0.21.6-6.72.60.8-3.55.74.81.91.416.1
20180.9-3.8-2.33.4-1.9-0.91.2-1.25.2-9.71.2-10.4-17.6
20170.10.8-0.81.12.32.80.3-0.14.15.41.41.420.4
2016-7.9-9.64.6-0.52.8-10.26.00.50.25.25.23.5-2.1
20150.67.52.13.25.0-2.51.7-7.3-7.710.31.3-1.911.3
2014-6.6-0.90.1-3.53.35.22.1-0.94.40.35.5-0.18.5
2013-2.6-0.2-0.2-2.58.4-0.05.23.410.8
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Issuer-declared series with dividends reinvested: the total performance, comparable with accumulating funds. Switch it off to see the price (NAV) alone, which drops at every dividend payment.
Source: Amundi. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — fund vs index

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 0 of the last 10 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-1.39% /anno
Declared TER
0.45%
YearFundIndexDifference
2025+26.16%+27.19%-1.03%
2024+22.44%+24.01%-1.58%
2023+31.04%+32.61%-1.57%
2022-3.96%-2.94%-1.02%
2021+10.77%+11.76%-0.99%
2020+5.38%+6.47%-1.09%
2019+16.10%+17.50%-1.40%
2018-17.65%-16.89%-0.76%
2017+20.43%+21.53%-1.10%
2016-2.09%-1.17%-0.92%
Fund return with dividends reinvested by Rebalix on each ex-date (the issuer does not publish a total-return series); index from the issuer-declared series; complete calendar years covered by our dividend archive. complete calendar years. TD is not comparable across sites using different methodologies or index variants. Past performance is not indicative of future results. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsLast 5 yearsLast 10 yearsFull history
Volatility (ann.)20.69%22.00%19.86%18.38%19.77%
Max drawdown-11.47%-24.70%-24.70%-37.27%-37.27%
Sharpe1.580.940.800.670.53
Sortino2.341.311.130.950.74
Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.20%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR, the fund's currency; the table follows the currency selected in the chart.

Portfolio holdings

Securities in portfolio
1,478
Top-10 weight
23.6%

Top 10 holdings

MITSUBISHI UFJ FINANCIAL GROUP · 8306 JT
3.93%
TOYOTA MOTOR CORP · 7203 JT
2.73%
SUMITOMO MITSUI FINANCIAL GROUP · 8316 JT
2.58%
HITACHI LTD · 6501 JT
2.41%
SONY GROUP CORP (JT) · 6758 JT
2.32%
RECRUIT HOLDINGS CO LTD · 6098 JT
2.15%
MIZUHO FINANCIAL GROUP INC · 8411 JT
2.04%
TOKYO ELECTRON JPY50 · 8035 JT
1.98%
SOFTBANK GROUP CORP · 9984 JT
1.73%
ADVANTEST CORP Y50 · 6857 JT
1.71%

Sectors

Industrials
25.9%
Financials
18.8%
Information Technology
15.1%
Consumer Discretionary
14.7%
Communication Services
6.3%
Materials
5.4%
Health Care
5.1%

Countries

AfghanistanAngolaAlbaniaUnited Arab EmiratesArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustriaAzerbaijanBurundiBelgiumBeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazilBruneiBhutanBotswanaCentral African RepublicCanadaSwitzerlandChileChinaIvory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombiaCosta RicaCubaCyprusCzech RepublicGermanyDjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpainEstoniaEthiopiaFinlandFijiFalkland IslandsFranceGabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesiaIndiaIrelandIranIraqIcelandIsraelItalyJamaicaJordanJapan: 100%KazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexicoMacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysiaNamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlandsNorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPolandPuerto RicoNorth KoreaPortugalParaguayQatarRomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailandTajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwanUnited Republic of TanzaniaUgandaUkraineUruguayUnited States of AmericaUzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth AfricaZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
Japan100%
⬇ Download the full portfolio — Excel, 1,479 rows
Full portfolio declared by Amundi, as of 1 September 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Dividends

Frequency
Annual
Latest dividend
2.48 EUR
ex 9 Dec 2025 · paid 12 Dec 2025
Dividends, last 12 months
2.48 EUR
Dividend yield
0.73%
12-month sum over the NAV as of 3 Sept 2026

Yield by year

PeriodDividendsDividend yield
1 year2.48 EUR1.00 %
20252.48 EUR1.12 %
20243.35 EUR1.82 %
20232.38 EUR1.67 %
20222.35 EUR1.56 %
20212.02 EUR1.46 %

Dividend contribution to total return

-10%0%10%20%30%40%+37.84 %1 year+26.15 %2025+22.40 %2024+31.03 %2023−3.96 %2022+10.76 %2021
dividendsprice changeprice decline

Calendar per share (EUR)

YearJanFebMarAprMayJunJulAugSepOctNovDec
20252.48
20243.35
20232.38
20221.101.25
20211.021.00
20201.000.51
20191.511.04
20181.201.00
20171.130.83
20161.400.98
20151.380.94
20141.170.89
20131.060.89

Latest dividends

Per shareEx-dividend datePayment
2.48 EUR9 Dec 202512 Dec 2025
3.35 EUR10 Dec 202413 Dec 2024
2.38 EUR12 Dec 202315 Dec 2023
1.25 EUR7 Dec 20229 Dec 2022
1.10 EUR6 Jul 20228 Jul 2022
1.00 EUR8 Dec 202110 Dec 2021
1.02 EUR7 Jul 20219 Jul 2021
0.51 EUR9 Dec 202011 Dec 2020
Per-share dividends as declared by the issuer, in EUR, since the first payment (10 Jul 2013). Past dividends are not indicative of future ones.

ETFs declaring the same index

FundTERIncomeFund size
TPXE · Amundi · 2 classesnot on Borsa Italiana
0.20%Acc.333 mln EUR
PTPXE · Amundinot on Borsa Italiana
0.20%Acc.126 mln EUR
LYJPN · Amundinot on Borsa Italiana
0.45%Dist.133 mln EUR
4 ETFs in our census declare this index (including this fund). Funds declaring the exact same index, word for word, in official product lists. Differently-worded variants (or other index versions) are not shown: a short list beats a wrong match. Sorted by TER. A dash “—” = not declared by the issuer in the files we read — not a zero.

Italian taxation

Effective rate on capital gains
26.00%
White-list share
0.00%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

FR0011475078JPNH
  • Directazero within the savings plan (buys)
  • Finecozero on buys (single orders and savings plan) — promo list renewed monthly: check it is still listed
  • Moneyfarmzero within the savings plan (buys), agreement until 15 May 2027
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
FR0010245514JPN
  • Directazero within the savings plan (buys)
  • Finecozero on buys (single orders and savings plan) — promo list renewed monthly: check it is still listed
  • Moneyfarmzero within the savings plan (buys), agreement until 15 May 2027
  • Moneyfarmzero on single buys from 1,000 €, agreement until 15 May 2027
Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 3 September 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

ExchangeTickerTrading since
Borsa Italiana (ETFplus)JPNH28 Jun 2013
Börse DüsseldorfJPNH11 Nov 2015
Börse FrankfurtJPNH9 Oct 2013
Börse HamburgJPNH1 Aug 2016
Börse HannoverJPNH9 Dec 2024
Börse München / gettexJPNH4 Jul 2014
Börse StuttgartJPNH9 Oct 2013
Euronext ParisJPNH2 May 2013
Tradegate ExchangeJPNH8 Oct 2014
Xetra (Deutsche Börse)JPNH9 Oct 2013
+ 20 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does Amundi Japan TOPIX II UCITS ETF EUR Hedged Dist track?
The issuer Amundi declares the benchmark: Topix Total Return Index JPY.
How much does JPNH cost?
The issuer-declared TER is 0.45% per year; the transaction costs estimated in the KID are 0.05%.
How is JPNH taxed in Italy?
On sale, the capital gain is taxed at an effective 26.00% rate (white-list share 0.00%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of JPNH?
The fund size declared by Amundi is about 104 million euro.
When was JPNH launched?
The fund was launched on 19 September 2018: it has 7 years of history.
How does JPNH replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Direct(Physical)”).
Does JPNH pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distribution”).
Where does JPNH trade?
Per the official ESMA register it trades on 10 main exchanges, including Borsa Italiana (ETFplus) (JPNH), Börse Düsseldorf (JPNH), Börse Frankfurt (JPNH), Börse Hamburg (JPNH), Börse Hannover (JPNH), Börse München / gettex (JPNH).
What was JPNH's worst fall?
Over the available history (since 2013), the maximum drawdown was -37.27%, reached in March 2020. Past performance is not indicative of future results.
What is JPNH's tracking difference?
Over the last 3 complete calendar years the fund returned on average -1.39% per year versus its index (from issuer-declared series).
How many securities does JPNH hold?
The declared portfolio holds 1,478 securities; the top 10 positions weigh 23.6%.
Transparency note
The data in this sheet is declared by Amundi in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.