Themes

Your Tokyo ETF
map starts here.

ETF Note groups Tokyo-listed ETFs by both the benchmarks they track and the exposure patterns investors search for. Browse TOPIX, Nikkei 225, S&P 500, bonds, REITs, gold, hedged, unhedged, semiconductor, leveraged, inverse, high dividend, ESG, and covered-call pages from one place.

Nikkei 225

Japan's best-known blue-chip benchmark. This group contains 28 ETFs, including 16 regular, 5 leveraged, 7 inverse, with Nomura Asset Management appearing most often.

28 ETFsJapanese large-cap equities

TOPIX

A broader map of the Japanese equity market than Nikkei 225. This category spans 42 ETFs and reaches from core TOPIX funds into sector and strategy variants.

42 ETFsJapanese broad-market equities

JPX-Nikkei 400

A quality-screened Japan equity benchmark with a smaller footprint than TOPIX or Nikkei 225. 10 ETFs in this directory reference it, including inverse versions.

10 ETFsJapanese quality-screened equities

REITs

Property exposure lives here through REIT benchmarks, rental cash flows, and listed real-estate vehicles. The group spans 35 ETFs and mostly stays plain-vanilla, with one inverse outlier breaking the pattern. It is one of the few themes that feels tied to buildings you can picture.

35 ETFsreal-estate investment trust exposure

S&P 500

The main U.S. large-cap benchmark in this directory. 34 ETFs point here, ranging from plain index trackers to buy-write, hedged, and inverse structures.

34 ETFsU.S. large-cap equities

NASDAQ-100

A tighter, growth-leaning slice of the U.S. market. This category holds 17 ETFs, with regular products dominating and a small short/leverage tail.

17 ETFsU.S. mega-cap growth equities

Dow Jones Industrial Average

A compact blue-chip U.S. benchmark built around 30 industrial-era bellwethers. Here it appears through 7 regular ETFs only.

7 ETFsU.S. blue-chip equities

US Treasury

U.S. government duration in many maturities, from bills to long bonds. This category groups 26 ETFs, almost all regular bond trackers and mostly led by BlackRock Japan.

26 ETFsU.S. government bonds

MSCI KOKUSAI

Developed-market equities outside Japan in one familiar MSCI wrapper. This category has 6 ETFs, all regular, with hedged and yen-converted variants.

6 ETFsdeveloped-market equities outside Japan

World Government Bonds

A cross-border sovereign bond basket rather than a single-country rate view. 5 regular ETFs in this directory refer to this category.

5 ETFsdeveloped-market sovereign bonds

Japanese Government Bonds

Domestic sovereign exposure built around JGB benchmarks. This category is small at 7 ETFs and includes one inverse futures-based variant.

7 ETFsJapanese sovereign bonds

Gold

Gold ETFs gather investors looking for a store of value, an inflation hedge, or simply a different kind of risk asset. The 10 products in this theme turn one metal into several portfolio roles depending on the moment. It is a small category with an outsized symbolic weight.

10 ETFsgold and bullion-linked exposure

Nikkei Semiconductor

A narrow Japan semiconductor slice rather than a full-market benchmark. This category currently has 3 regular ETFs.

3 ETFsJapanese semiconductor equities

Nifty 50

India's headline large-cap benchmark, represented here through just 3 regular ETFs. The lineup is small but clean.

3 ETFsIndian large-cap equities

DAX

Germany's flagship equity benchmark, shown here mainly through yen-adjusted versions. This category contains 4 regular ETFs.

4 ETFsGerman large-cap equities

France Government Bonds

French sovereign duration gathered into one small bond category. 5 regular ETFs reference these 7-10 year government-bond variants.

5 ETFsFrench sovereign bonds

Hedged

This shelf is for investors who want the market call without taking a second bet on foreign exchange. The 56 ETFs here are built to keep currency swings from overpowering the underlying exposure. It reads like the calmer side of global investing.

56 ETFscurrency-hedged exposures

Unhedged

These 35 ETFs leave the currency layer fully in the trade, so returns can move with both the asset and the yen cross. That makes this theme a purer expression of overseas exposure, for better or worse. If hedged funds mute the soundtrack, unhedged funds keep the whole mix.

35 ETFscurrency-unhedged exposures

Semiconductor

Chip foundries, equipment makers, and the infrastructure behind modern compute all meet in this pocket of the directory. Only 7 ETFs land here, but the theme is concentrated around one of the market's most cyclical and strategically important industries. It is less about broad tech optimism and more about the machinery underneath it.

7 ETFssemiconductor and chip-related exposure

Leveraged ETFs

This is the fast-twitch end of the catalog: 11 leveraged products built to amplify a daily move, not to sit quietly in a portfolio. They are tactical tools for conviction, timing, and risk appetite. The attraction is obvious, and so is the need for discipline.

11 ETFsleveraged ETF and ETP structures

Inverse ETFs

Inverse ETFs turn downside, hedging, and short-term skepticism into a defined product set. The 23 listings here are built for traders who want negative exposure without directly shorting the market. They feel defensive in intent, but they are still sharp instruments.

23 ETFsinverse and short ETF structures

High Dividend

Income leads the story here, whether the source is mature equities, dividend screens, or yield-focused index design. With 53 ETFs, this is one of the deepest theme buckets in the directory. The pitch is steadier cash flow, not maximum excitement.

53 ETFsdividend, income, and yield-oriented products

Covered Call

These 8 ETFs pair market exposure with option-writing, trading away some upside in exchange for distributable premium income. It is a theme built around managed restraint rather than pure participation. For investors who like yield with a visible cost, this is where the trade-off is explicit.

8 ETFsbuy-write, covered-call, and option-income strategies

ESG

ESG funds in this group try to reshape broad exposure by changing the membership rules rather than the asset class itself. The 13 ETFs here lean on sustainability, governance, and social screens to decide what deserves a place in the portfolio. It is a values filter applied to market beta.

13 ETFsESG, sustainability, and governance screens

Climate

Climate ETFs push past generic sustainability language and focus on carbon, transition risk, and green-economy positioning. These 10 products sit closer to a policy and industrial shift than to a standard sector label. The theme is really about where capital thinks the next decade is headed.

10 ETFsclimate, carbon, green, and clean-tech themes

Banks & Financials

This theme narrows the market down to lenders, balance sheets, and the plumbing of credit. Only 6 ETFs match it, making it a compact sector view rather than a sprawling style bucket. When rates, spreads, or financial conditions matter, this is the sharpest lens.

6 ETFsbanks and financial-sector exposure

Robotics & AI

Automation, machine intelligence, and the companies selling the tools behind both are bundled together here. At 4 ETFs, the lineup is small, but the narrative is big: software making decisions and hardware carrying them out. This theme reads like a wager on how work gets redesigned.

4 ETFsrobotics, automation, and AI exposure

Technology

Technology is the broad innovation canvas of the directory, wide enough to hold platforms, chips, digital services, and adjacent growth stories. These 28 ETFs capture that sprawl better than any single subsector can. It is the theme for investors who want the ecosystem, not just one toolmaker inside it.

28 ETFsbroad technology and innovation exposure

Defense

Defense is a narrow but forceful theme built around security spending, military supply chains, and geopolitical urgency. Just 2 ETFs appear here, which gives the category a specialist feel from the start. It is less a classic sector bet than a view on a harder world.

2 ETFsdefense and security-related exposure

Emerging Markets

Emerging markets gather faster-growing economies, messier policy regimes, and a wider spread of outcomes into one category. The 21 ETFs here reach across equity and bond exposure, with a small leveraged and inverse tail at the edges. This theme offers more room for surprise than the developed-world buckets do.

21 ETFsemerging-market equity and bond exposure

Bonds

Bonds are the ballast of this directory, spanning government duration, credit exposure, inflation protection, and a few tactical variants. With 74 ETFs, it is the largest theme set on the page. The common thread is not excitement, but structure: income, sensitivity to rates, and portfolio stability.

74 ETFsgovernment, corporate, and aggregate bond exposure