TOKYO -- Americans playing Japan's stock market have had a great year. The average Japan fund is up 98% this year, according to
, which monitors and ranks mutual funds. That was better than a 20% return on the average diversified U.S. equity fund.
Funds focusing on high-growth and small companies, unsurprisingly, turned in the best performances. The big-cap
is up 31.9% year to date; the small-cap
has leapt 190%.
The best-performing Japan funds so far this year are the
Japan Small Company fund,
Japan Growth fund and the
Japan Small Companies fund. All are sporting 200%-plus gains so far this year.