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Amundi Japan Topix UCITS ETF JPY AccIndex, costs, backtest, listings and taxation

ISIN: LU1681037781Ticker: TPXU (London SE) · TPXY (Euronext Paris) · TPXY (SIX)Issuer: AmundiClass: UCITS ETF JPY Acc
Issuer-declared data
Declared index
Topix Total Return Index JPY
TER
0.20%
Transaction costs
0.00% (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
244.2 mln EUR
NAV
28,113 JPY (1 September 2026)
Domicile
Luxembourg
Inception date
17 April 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 UCITS ETF JPY Acc tracks the issuer-declared index: Topix Total Return Index JPY. The declared annual cost (TER) is 0.20%, plus 0.00% in transaction costs estimated by the issuer in the KID. Replication is synthetic replication (swap based); income is accumulated and reinvested in the fund. The fund has assets of about 244 million euro, was launched on 17 April 2018 and is domiciled in Luxembourg. In our registry 3 other ETFs declare the same index.

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

This Sub-Fund is passively managed. The objective of this Sub-Fund is to track the performance of TOPIX Index, and to minimize the tracking error between the net asset value of the SubFund and the performance of the Index. The anticipated level of the tracking error, under normal market conditions, is indicated in the prospectus of the Sub-Fund. The index is a Total Return Index : the dividends paid by the index constituents are included in the Index return. TOPIX Index is an equity index representative of leading securities traded in the Japanese market. More information about the composition of the index and its operating rules are available in the prospectus and at: jpx.co.jp The Index value is available via Bloomberg (TPXDDVD). The Sub-Fund will apply an Indirect Replication methodology to get exposition to the Index. The Sub-Fund will invest into a total return swap (financial derivative instrument) delivering the performance of the Index against the performance of the assets held. Derivatives are integral to the SubFund's investment strategies.

Keep reading the KID section ▾

Intended Retail Investor:This product is intended for investors, with a basic knowledge of and no or limited experience of investing in funds seeking to increase the value of their investment over the recommended holding period with the ability to bear losses up to the amount invested.

Redemption and Dealing:The Sub-Fund's shares are listed and traded on one or more stock exchanges. In normal circumstances, you may deal in shares during the trading hours of the stock exchanges. Only authorised participants (e.g., selected financial institutions) may deal in shares directly with the Sub-Fund on the primary market. Further details are provided in the Amundi Index Solutions prospectus.

Distribution policy:As this is a non-distributing share class, investment income is reinvested. the accumulation share automatically retains, and reinvests, all attributable income within the Sub-Fund; thereby accumulating value in the price of the accumulation shares.

More Information:You may get further information about the Sub-Fund, including the prospectus, and financial reports which are available at and free of charge on request from: Amundi Luxembourg S.A. at 5, allée Scheffer 2520 Luxembourg, Luxembourg.

From the KID’s “Objectives” section · 7 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • Average tracking difference over the last 3 years: -0.59% p.a., against a declared TER of 0.20%.
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) · JPY · from Apr 2018 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+172.6%
Annualised
+12.7%
Volatility (ann.)
17.9%
Max drawdown
-30.90%
-30%+25%+79%+133%+187%Apr 2018Jul 2020Aug 2022Aug 2024Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+173%Apr 2018Sept 2026
Note — currency risk: the fund is denominated (or hedged) in JPY and the chart is in JPY. For a euro investor, returns also depend on the EUR/JPY exchange rate, up or down.
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%20182020202220242026−30.90% · 16 Mar 2020
Max drawdown
-30.90%
peak → trough
Trough
16 Mar 2020
from the 02 Oct 2018 peak
Recovery time
253 days
recovery only: trough to break-even · ≈ 8 months
Underwater
784 days
decline + recovery: peak to break-even · ≈ 2 years and 2 months · → recovered on 24 Nov 2020

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
02 Oct 201816 Mar 2020-30.90%24 Nov 2020784
11 Jul 202407 Apr 2025-20.40%23 Jul 2025377
14 Sept 202109 Mar 2022-16.38%09 Mar 2023541
27 Feb 202623 Mar 2026-11.50%13 May 202675
19 Sept 202304 Oct 2023-7.92%09 Jan 2024112

Calendar-year returns

2018
-13.9%
2019
17.4%
2020
6.8%
2021
12.1%
2022
-2.9%
2023
27.7%
2024
19.8%
2025
24.9%
2026
21.5%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20264.610.4-10.46.56.21.00.23.8-1.321.5
20250.1-3.80.20.35.11.93.14.52.96.21.41.024.9
20247.84.93.7-0.31.11.4-0.6-2.9-1.61.8-0.64.019.8
20234.40.91.72.73.67.51.50.40.5-3.05.4-0.327.7
2022-4.9-0.54.3-2.40.7-2.13.71.2-5.55.12.9-4.6-2.9
20210.23.15.6-2.91.31.1-2.23.14.3-1.5-3.73.412.1
2020-2.2-10.3-6.04.36.8-0.2-4.18.11.2-2.911.12.96.8
20194.92.61.20.5-6.62.70.9-3.46.04.91.41.917.4
2018-1.7-0.81.2-1.05.5-9.51.3-10.3-13.9
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.
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.

Cleaned series: the issuer’s historical data alternates recordings in two currencies without flagging it; we kept the coherent track and discarded the extraneous rows. Returns and risk are computed on the cleaned series.

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 7 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.59% /anno
Declared TER
0.20%
YearFundIndexDifference
2025+24.91%+25.46%-0.55%
2024+19.78%+20.45%-0.67%
2023+27.70%+28.26%-0.55%
2022-2.95%-2.45%-0.50%
2021+12.08%+12.74%-0.67%
2020+6.79%+7.39%-0.60%
2019+17.43%+18.12%-0.69%
Total-return figures from issuer-declared series (primary source); 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 yearsFull history
Volatility (ann.)19.47%19.12%18.05%17.71%
Max drawdown-11.37%-17.71%-20.36%-26.96%
Sharpe1.360.740.480.48
Sortino2.051.060.680.68
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 — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Portfolio holdings

Securities in portfolio
110
Top-10 weight
39.2%

Top 10 holdings

NVIDIA CORP · NVDA UW
7.66%
APPLE INC · AAPL UW
7.00%
MICROSOFT CORP · MSFT UW
5.24%
MICRON TECHNOLOGY INC · MU UW
3.95%
BROADCOM INC · AVGO UW
2.80%
UNITED PARCEL SERVICE CL B · UPS UN
2.58%
ADVANCED MICRO DEVICES · AMD UW
2.56%
L OREAL PRIME FIDELITE · 1769852D FP
2.53%
AXA SA · CS FP
2.44%
AIR LIQUIDE PRIME FIDELITE · AIRB FP
2.40%
Download the full portfolio — Excel, 111 rows
Full portfolio declared by Amundi, as of 27 August 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding. Synthetic replication: the list shows the substitute basket (securities held as swap collateral), which can differ substantially from the replicated index. The fund’s economic exposure is that of its declared index.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

ETFs declaring the same index

FundTERIncomeFund size
JPN · Amundi · 3 classes
0.45%Dist.429 mln EUR
TPXE · Amundinot on Borsa Italiana
0.20%Acc.333 mln EUR
PTPXE · Amundinot on Borsa Italiana
0.20%Acc.126 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:

LU1681037781TPXU
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
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

ExchangeTicker
BMV
Euronext ParisTPXY
London Stock ExchangeTPXU
LSE
SIX Swiss ExchangeTPXY
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 UCITS ETF JPY Acc track?
The issuer Amundi declares the benchmark: Topix Total Return Index JPY.
How much does TPXG cost?
The issuer-declared TER is 0.20% per year; the transaction costs estimated in the KID are 0.00%.
How is TPXG 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 TPXG?
The fund size declared by Amundi is about 244 million euro.
When was TPXG launched?
The fund was launched on 17 April 2018: it has 8 years of history.
How does TPXG replicate its index?
It is a passively managed ETF: it follows the declared index. Synthetic (swap) (issuer wording: “Indirect(Swap Based)”).
Does TPXG pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Capitalisation”).
Where does TPXG trade?
Per the official ESMA register it trades on 5 main exchanges, including Euronext Paris (TPXY), London Stock Exchange (TPXU), SIX Swiss Exchange (TPXY).
What was TPXG's worst fall?
Over the available history (since 2018), the maximum drawdown was -30.90%, reached in March 2020. Past performance is not indicative of future results.
What is TPXG's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.59% per year versus its index (from issuer-declared series).
How many securities does TPXG hold?
The declared portfolio holds 110 securities; the top 10 positions weigh 39.2%.
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.