- Last Ratings Update:09/30/2014
- Price as of 09/30/2014 :$9.69
- Net Assets:$307.6 Million
- Peer Rank:24 of 271
- Investment Rating:C+
We rate Japan Smaller Cap Fund Inc. at C+. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Positive factors that influence this rating include a low expense structure. The fund invests approximately 80% of its assets in stocks and may be considered for investors seeking a Non-US Equity strategy.
POSITIVES AND RISKS
Total return ranks below peers over the last three years. The Japan Smaller Cap Fund Inc. has returned an annual rate of 1.47% since inception. More recently, the fund has generated a total return of 5.33% in the last five years, 10.02% in the last three years, and 6.90% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 29% of them. It has also outpaced 47% of its competitors on a three year basis and 48% of them over the last year for the period ending 9/30/2014. On a year to date basis, JOF has returned 3.60%.
Downside risk has been below average. JOF has a draw down risk of -10.73%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 13.5%. This fund has had moderate volatility in its monthly performance over the last 36 months. As of 9/30/2014, the fund was trading at a price of $9.69, which is 1.4% below its 52-week high of $9.83 and 0.8% above its 52-week low of $9.61.
High expense ratio hinders performance. On total assets of $307.60 million, JOF maintains a high expense ratio compared to its Non-US Equity peers of 1.19% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As JOF is a closed end fund, it has no front end or back end load.
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