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Tag Archives: japan

Apr 5, 2023

SPIVA Japan Scorecard 2022: Active Underperformance Despite an Abundance of Opportunities

The inaugural S&P Indices versus Active (SPIVA®) U.S. Scorecard was published in 2002, and has since been extended to Australia, Canada, Europe, India, Japan, Latin America, South Africa and the Middle East & North Africa (MENA), allowing investors to experience the active versus passive debate on a global scale. The SPIVA Japan Scorecard measures the…

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Apr 3, 2023

Diversification and Performance: Potential Applications of U.S. Equities in Japan

The U.S. equity market is by far the largest in the world, representing 57.7% of the global market capitalization, and it is nearly nine times the size of the Japanese equity market (see Exhibit 1). Hence, Japanese investors may wish to consider U.S. equities in order to not overlook a significant portion of the global…

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Nov 16, 2021

No Time to Thrive

S&P DJI has just released the final regional edition of our S&P Index Versus Active (SPIVA®) Mid-Year 2021 Scorecards. The semiannual reports cover the performance of actively managed funds in the U.S., Canada, Latin America, Europe, South Africa, India, Japan, Australia, and our newest regional addition, the Middle East and North Africa (MENA). SPIVA Scorecards…

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Feb 2, 2021

How Carbon Weight Adjustment May Reduce Carbon Intensity among Asian Equities

In a previous blog, we reviewed the carbon efficiencies of Asian companies in comparison with their global industry group peers. In this blog, we examine the potential carbon intensity1 reduction on various Asian markets by incorporating a carbon weight adjustment to their respective S&P Global BMI index universes, following the S&P Global Carbon Efficient Index…

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Jan 7, 2021

Are Asian Companies More or Less Carbon Efficient Than Their Global Peers?

With the launch of the S&P Global Carbon Efficient Index Series in 2018, S&P DJI introduced the S&P Carbon Global Standard, a proprietary carbon classification system that assigns carbon deciles to companies within their respective industry groups. The framework uses carbon-to-revenue footprint (carbon intensity) for companies in the S&P Global LargeMidCap to determine carbon decile…

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Apr 16, 2020

Dissecting the Asset- and Equal-Weighted Fund Performance from the SPIVA® Japan Year-End 2019 Scorecard

In the SPIVA® Japan Year-End 2019 Scorecard, we evaluated the percentage of Japanese active funds that underperformed their respective benchmark indices, as well as the average fund returns on an equal- and asset-weighted basis. Equal-weighted returns are a measure of average fund performance, while asset-weighted returns are a measure of the performance of the total…

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Jun 6, 2019

JPX/S&P CAPEX & Human Capital Index: Linking CAPEX and Human Capital to Investment Opportunity

Human capital, physical capital, and technology have been widely recognized as a fundamental source of economic growth.[1] Dating back to the 1960s and early 1970s, when we saw a rapid increase in educated workers, facilities, and technological catch-up, Japan’s “economic miracle” emerged along with impressive GDP and per capita output growth.[2] Nowadays, these factors are…

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Apr 2, 2019

Using the S&P/JPX Dividend Aristocrats® to Invest in Japanese Dividend Growers

While some dividend-paying companies give out occasional and unsustainable dividends, dividend-growing companies—such as household names like Coca-Cola, Exxon Mobile, and AT&T in the U.S.—provide steadily increasing dividend payouts every year. These long-standing dividend growers are called “Dividend Aristocrats,” and there are two reasons for it. First, with successful business operations and disciplined financial management, they…

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Jan 16, 2019

What Is the Impact of a Company’s Environmental Data on its Weight in an Index?

One of the key objectives for the recently launched S&P/JPX Carbon Efficient Index is to motivate companies within the baseline index, TOPIX, to increase their level of environmental disclosure. By incorporating a mechanism to adjust constituent weights by their respective environmental data, the S&P/JPX Carbon Efficient Index has been designed to incentivize all companies, regardless…

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Nov 8, 2018

The World’s Largest Pension Fund Engages in Carbon Disclosure

This blog post was co-authored with Dr Richard Mattison, Chief Executive Officer, Trucost, part of S&P Global On Sept. 25, 2018, Japan’s Government Pension Investment Fund (GPIF)—the world’s largest pension fund—announced its selection of two new low-carbon indices, the S&P/JPX Carbon Efficient Index and the S&P Global Ex-Japan LargeMid Carbon Efficient Index, with an allocation…

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