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Amundi Prime Japan UCITS ETF AccIndex, costs, backtest, listings and taxation

ISIN: LU2089238385Ticker: PRAJ (Xetra) · PRAJ (London SE) · PRAJ (Euronext Paris)Issuer: AmundiClass: UCITS ETF Acc
Issuer-declared data
Declared index
Solactive GBS Japan Large & Mid Cap Index NTR
TER
0.05%
Transaction costs
0.03% (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
654.4 mln EUR
NAV
6,960.47 JPY (1 September 2026)
Domicile
Luxembourg
Inception date
15 January 2020
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 Prime Japan UCITS ETF Acc tracks the issuer-declared index: Solactive GBS Japan Large & Mid Cap Index NTR. The declared annual cost (TER) is 0.05%, plus 0.03% in transaction costs estimated by the issuer in the KID. Replication is direct physical replication; income is accumulated and reinvested in the fund. The fund has assets of about 654 million euro, was launched on 15 January 2020 and is domiciled in Luxembourg. In our registry 1 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 Solactive GBS Japan Large & Mid Cap Index, and to minimize the tracking error between the net asset value of the Sub-Fund 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 Net Total Return Index : dividends net of tax paid by the index constituents are included in the Index return. Solactive GBS Japan Large & Mid Cap Index is an equity index representative of the large and mid-cap securities listed and traded in Japan. More information about the composition of the index and its operating rules are available in the prospectus and at: solactive.de The Index value is available via Bloomberg (SJPLMCN). The exposure to the Index will be achieved through a Direct Replication, mainly by making direct investments in transferable securities and/or other eligible assets representing the Index constituents in a proportion extremely close to their proportion in the index. The Investment Manager will be able to use derivatives in order to deal with inflows and outflows and also if it allows a better exposition to an Index constituent. In order to generate additional income to offset its costs, the Sub-Fund may also enter into securities lending operations.

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 · 4 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.05%: below the median of equity ETFs we track (0.22%).
  • Average tracking difference over the last 3 years: +0.00% p.a., against a declared TER of 0.05%.
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 Jan 2020 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+170.6%
Annualised
+16.2%
Volatility (ann.)
19.8%
Max drawdown
-28.41%
-30%+25%+79%+134%+189%Jan 2020Sept 2021May 2023Jan 2025Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+171%Jan 2020Sept 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%-5%-10%-15%-20%-25%-30%2020202120222023202420252026−28.41% · 16 Mar 2020
Max drawdown
-28.41%
peak → trough
Trough
16 Mar 2020
from the 22 Jan 2020 peak
Recovery time
240 days
recovery only: trough to break-even · ≈ 8 months
Underwater
294 days
decline + recovery: peak to break-even · ≈ 10 months · → recovered on 11 Nov 2020

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
22 Jan 202016 Mar 2020-28.41%11 Nov 2020294
11 Jul 202405 Aug 2024-24.52%23 Jul 2025377
14 Sept 202109 Mar 2022-16.03%09 Mar 2023541
27 Feb 202623 Mar 2026-11.44%13 May 202675
19 Sept 202304 Oct 2023-8.11%10 Jan 2024113

Calendar-year returns

2020
7.5%
2021
13.4%
2022
-3.8%
2023
28.2%
2024
20.6%
2025
24.5%
2026
20.0%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20264.510.1-10.77.06.51.5-0.23.3-2.220.0
20250.1-4.0-0.40.55.21.92.84.52.97.20.81.024.5
20248.35.33.8-0.51.01.4-0.7-2.8-2.02.2-0.84.220.6
20234.50.81.62.74.37.71.30.20.4-3.15.7-0.528.2
2022-4.8-1.04.7-2.51.0-2.53.71.2-6.15.42.9-5.0-3.8
20210.43.25.1-2.71.91.1-2.43.24.4-1.3-3.13.413.4
2020-9.6-6.94.46.80.1-3.78.00.4-2.612.33.17.5
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.

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 1 of the last 5 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
+0.00% /anno
Declared TER
0.05%
YearFundIndexDifference
2025+24.50%+24.51%-0.01%
2024+20.57%+20.62%-0.05%
2023+28.18%+28.11%+0.07%
2022-3.82%-3.82%+-0.00%
2021+13.40%+13.41%-0.02%
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.)19.92%20.79%19.14%18.99%
Max drawdown-11.31%-18.16%-19.88%-26.45%
Sharpe1.210.700.430.48
Sortino1.820.990.610.68
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: 2.21%), 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
304
Top-10 weight
26.6%

Top 10 holdings

MITSUBISHI UFJ FINANCIAL GROUP · 8306 JT
4.30%
TOYOTA MOTOR CORP · 7203 JT
3.05%
SUMITOMO MITSUI FINANCIAL GROUP · 8316 JT
2.73%
TOKYO ELECTRON JPY50 · 8035 JT
2.54%
HITACHI LTD · 6501 JT
2.52%
ADVANTEST CORP Y50 · 6857 JT
2.49%
SONY GROUP CORP (JT) · 6758 JT
2.45%
RECRUIT HOLDINGS CO LTD · 6098 JT
2.29%
MIZUHO FINANCIAL GROUP INC · 8411 JT
2.19%
KIOXIA HOLDINGS CORP · 285A JT
2.01%

Sectors

Industrials
24.5%
Financials
18.6%
Information Technology
17.3%
Consumer Discretionary
14.6%
Communication Services
6.7%
Health Care
5.2%
Consumer Staples
4.3%

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, 305 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 →

ETFs declaring the same index

FundTERIncomeFund size
ETFJAP · Amundi
0.05%Dist.2.7 mld EUR
2 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:

LU2089238385PRAJ
  • 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

ExchangeTickerTrading since
Börse DüsseldorfPRAJ6 Feb 2020
Börse FrankfurtPRAJ28 Jan 2020
Börse HamburgPRAJ19 Feb 2020
Börse HannoverPRAJ9 Dec 2024
Börse München / gettexPRAJ19 Feb 2020
Börse StuttgartPRAJ12 Feb 2021
Euronext ParisPRAJ27 May 2025
Tradegate ExchangePRAJ28 Feb 2020
Xetra (Deutsche Börse)PRAJ28 Jan 2020
+ 21 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 Prime Japan UCITS ETF Acc track?
The issuer Amundi declares the benchmark: Solactive GBS Japan Large & Mid Cap Index NTR.
How much does PRAJ cost?
The issuer-declared TER is 0.05% per year; the transaction costs estimated in the KID are 0.03%.
How is PRAJ 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 PRAJ?
The fund size declared by Amundi is about 654 million euro.
When was PRAJ launched?
The fund was launched on 15 January 2020: it has 6 years of history.
How does PRAJ replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Direct(Physical)”).
Does PRAJ pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Capitalisation”).
Where does PRAJ trade?
Per the official ESMA register it trades on 9 main exchanges, including Börse Düsseldorf (PRAJ), Börse Frankfurt (PRAJ), Börse Hamburg (PRAJ), Börse Hannover (PRAJ), Börse München / gettex (PRAJ), Börse Stuttgart (PRAJ).
What was PRAJ's worst fall?
Over the available history (since 2020), the maximum drawdown was -28.41%, reached in March 2020. Past performance is not indicative of future results.
What is PRAJ's tracking difference?
Over the last 3 complete calendar years the fund returned on average +0.00% per year versus its index (from issuer-declared series).
How many securities does PRAJ hold?
The declared portfolio holds 304 securities; the top 10 positions weigh 26.6%.
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.