(6 LSE-listed ETFs + 1 open-ended fund)
iShares Japan Equity Index Fund (HL clients only)
Xtrackers Nikkei 225 (XDJP)
LSE-listed Japan ETFs
Short answer
The lowest-cost Japan exposure for UK investors is the iShares Japan Equity Index Fund (UK) D Acc at 0.08% OCF — or 0.06% for Hargreaves Lansdown clients due to a negotiated discount. It is an open-ended fund, not an LSE-listed ETF, so it is not available on all platforms.
For investors who want an LSE-listed ETF, the Xtrackers Nikkei 225 UCITS ETF (XDJP) at 0.09% is the cheapest option — but it tracks the price-weighted Nikkei 225 index, not a market-cap-weighted index.
For broad, market-cap-weighted Japan exposure via a listed ETF, the L&G Japan Equity UCITS ETF (LGJG) and Vanguard FTSE Japan UCITS ETF (VJPN) both sit at 0.10%.
Japan ETFs and funds compared
The table below covers all seven options in this article. OCF/TER figures are as of March 2026. Platform availability is indicative — confirm with each provider before investing.
| Fund / ETF | Ticker | OCF/TER | Fund Size | Acc/Dist | Index | Platforms |
|---|---|---|---|---|---|---|
| iShares Japan Equity Index Fund (UK) D Acc | GB00B6QQ9X96 (OEIC) | 0.08% 0.06% on HL |
[DATA NEEDED] | Acc | FTSE Japan | HL (confirmed) |
| Xtrackers Nikkei 225 UCITS ETF 1D | XDJP | 0.09% | €1,702m | Dist | Nikkei 225 | HL, AJ Bell, ii, T212, Fidelity, Freetrade |
| L&G Japan Equity UCITS ETF | LGJG | 0.10% | £639m | Acc | Solactive Core Japan L&M Cap | HL, AJ Bell, ii, T212, Fidelity, Freetrade |
| Vanguard FTSE Japan UCITS ETF | VJPN | 0.10% | €2,653m | Dist | FTSE Japan | HL, AJ Bell, ii, T212, Fidelity, Freetrade |
| Amundi Core MSCI Japan UCITS ETF Acc | LCJP | 0.12% | €4,683m | Acc | MSCI Japan | HL, AJ Bell, ii, T212, Fidelity, Freetrade |
| iShares MSCI Japan UCITS ETF (Dist) | IJPN | 0.12% | £1,764m | Dist | MSCI Japan | HL (ISA, LISA, SIPP confirmed) |
| iShares Core MSCI Japan IMI UCITS ETF | SJPA | 0.12% | £5,843m | Acc | MSCI Japan IMI | HL, AJ Bell, ii, T212, Fidelity, Freetrade |
Fund sizes shown in the currency reported by the provider (€ or £). Platform availability is indicative — verify before investing.
Fee difference in real money
OCF differences of 0.01% or 0.02% look trivial. Over 10 years, the gap widens — but across this particular group, it stays relatively small.
Illustration: £10,000 invested, 8% gross annual return, held for 10 years. Formula used: £10,000 × (1 + (0.08 − OCF))^10. No platform fees or trading costs included. Actual returns will vary.
The difference between the cheapest (0.06%) and most expensive in this group (0.12%) is approximately £126 over 10 years on a £10,000 investment — assuming identical 8% annual returns before charges.
OCF is not the only cost. Platforms charge their own account fees — either percentage-based or flat-rate — which can exceed the ETF’s own charges, particularly on smaller portfolios. Within a Stocks & Shares ISA, all gains on this growth are sheltered from CGT (18%/24% outside an ISA). Dividends are sheltered from dividend tax, currently 8.75% for basic rate taxpayers, 33.75% for higher rate, and 39.35% for additional rate taxpayers.