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2523
JP3048800001
Passive ETFEquity

2523 ETF · MAXIS TOPIX Ex-Financials ETF

The 2523 Exchange Traded Fund (ETF) is provided by Mitsubishi UFJ Asset Management. It is built to track an index: TOPIX Ex-Financials Index. The 2523 ETF provides physical exposure, so by buying it you actually own parts of all the 1,383 underlying holdings. This share class generates a stream of income by distributing dividends.
Last update 4/24/2026, 12:00 AM UTC
LIVE
CLOSED
This fund is part ofJapan Blended Cap1M perf.+8.20%
Last price
Â¥2,900
1M perf.
+8.06%
1M flows
-€5.9M
AuM
€25M
E/R
0.108%
Rating
Not rated
ESG Consensus®
esg grade icon
2523
Â¥2,900

Performance & flows

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January 22, 2026 → April 22, 2026
0-6-4-2024681012%FEBMARAPRFEBMARAPR
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2523
Â¥3,136.05
+4.51%
Japan Blended Cap
+4.55%

Historic performance and flows

1M3M1Y3Y5YMTDQTDYTD
Perf.
+8.06%
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+4.51%
icon
+47.33%
icon
+83.44%
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+98.57%
icon
+7.36%
+7.36%
+10.37%
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Flows

Key fund info

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This ETF's jurisdiction country is not in your region (Europe and Middle East) Â· 
Main characteristics
ISIN
JP3048800001
AuM
€25M
icon
E/R
0.108%
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Replication rating
Not rated
ESG Consensus®
esg grade icon
icon
More details
NAV
4/22/2026
Â¥3,136.05
1D NAV change
-0.60%
Dividend policy
Replication method
Direct (Physical)
Replication model
Full replication
No. of holdings
1383
Inception date
1/11/2019
Jurisdiction
Japan
Distribution
Japan
Legal structure
Open-end Fund
Base currency
JPY
Dividend distribution
Trailing 12-month distr. yield
Distribution frequency
Last distribution
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Classification
Product type
Asset class
Factors
N/A
Investment strategy
The objective of the ETF is to provide investment resultes that corresponded to the performance of the index, TOPIX Ex-Financials.
Tax optimisation
PEA
France
UK Reporting Status
United Kingdom
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Risk profile

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Historical risk/return profile

3M1Y3Y5Y
Returns
+4.51%
icon
+47.33%
icon
+83.44%
icon
+98.57%
icon
Volatility
Perf./Volatility
Max drawdown
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Synthetic Risk and Reward Indicator (SRRI)
UCITS
N/A
PRIIPS
N/A
More exposure metrics are available, exclusively in Trackinsight Enterprise

Exposure

Countries
Japan
98.45%
Unavailable
1.55%
Sectors
Industrials
32.45%
Consumer Discretionary
18.06%
Information Technology
13.92%
Communication Services
7.36%
Health Care
7.11%
Materials
6.27%
Consumer Staples
6.19%
Real Estate
2.46%
Unavailable
2.47%
Other
3.71%
Diversification
Total weight of top 15 holdings out of 1383
Top 15 holdings
Data as of March 31, 2026
TOYOTA
HITACHI
MITSUBISHI
SONY GROUP CORPORATION
MITSUI
MITSUBISHI HVY
TOKYO ELECTRON
ITOCHU
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SOFTBANK GROUP CORP
ADVANTEST
SHIN-ETSU CHEM
MITSUBISHI ELECTRIC
NINTENDO
KEYENCE
TAKEDA PHARMACEUTICAL
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More risk metrics are available, exclusively in Trackinsight Enterprise

Sustainability

Integrates ESG criteria
No
SDG

ESG Consensus® by Conser

Data as of February 27, 2026
Methodology

Our partner Conser gathers the industry's consensus on the business practices of the underlying holdings. We have computed the following metrics about 2523 ETF's sustainability, based on their methodology.

Learn more about Conser

ESG Consensus®
esg grade icon

ESG Consensus® is based on the Final Sustainability Grade, which itself consists of 10 grades. Our partner Conser calculates the exact grade, based on market intelligence, using their proprietary ESG Consensus® methodology.


2523’s has a Final Sustainability Grade of either C+, C, C-, or D.

This fund’s exact Final Sustainability Grade is available in Trackinsight Enterprise.
Learn more about Trackinsight Enterprise
Holdings review
69.63% of holdings have positive scoring
31.95% of holdings have negative scoring
5.82%
45.37%
18.44%
5.29%
25.34%
Consensus levels
Strong
Medium
Weak
More sustainability metrics are available, exclusively in Trackinsight Enterprise

Replication

Trackinsight replication rating:
Not rated
1-year trailing difference
As of March 31, 2026
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2523
N/A
Replication quality
Calculated over 12m, as of March 31, 2026
Tracking error
Tracking difference
1-year cumulative return difference
Best
Worst
Daily return difference
Average
Worst
Replication information
Index
Index ticker
Index dividend policy
Replication method
Replication model

Issuer

Mitsubishi UFJ Asset Management
Mitsubishi UFJ Asset Management ID Card
Number of funds
31
Total AuM
€54.49B
Expense ratio range
0.04% - 0.78%
Average expense ratio
0.1937%
Top 5 funds by Mitsubishi UFJ Asset Management
AuM
1348
MAXIS TOPIX ETF€24.45B
1346
MAXIS Nikkei 225 ETF€19.76B
1593
MAXIS JPX-Nikkei 400 ETF€6.08B
1597
MAXIS J-REIT ETF€1.22B
2559
MAXIS World Equity (MSCI ACWI) ETF€580M

Frequently asked questions about 2523

What does MAXIS TOPIX Ex-Financials ETF, 2523, invest in?

2523 is a Passive ETF. This ETF provides exposure to Japanese Equities.

Which benchmark or index does 2523 replicate?

2523 tracks the TOPIX Ex-Financials Index - JPY, through a full replication replication method.

What is the Total Expense ratio (TER) of 2523?

2523 carries a total expense ratio (TER) of 0.108%, indicating the annual cost for holding the fund.

When was 2523 launched?

2523 was introduced to the market on January 11, 2019. It trades on Japan

Who is the ETF issuer of 2523?

MAXIS TOPIX Ex-Financials ETF, 2523, is provided by Mitsubishi UFJ Asset Management. Learn more about Mitsubishi UFJ Asset Management here.

What is the current assets under management (AUM) of 2523?

2523 oversees €25M in assets as of April 22, 2026.

How has 2523 performed lately?

Based on data from April 22, 2026, 2523 returned 8.06% over the past month, 4.51% over the last three months and 10.37% year-to-date.

What are the latest inflows or outflows for 2523?

As of April 22, 2026, 2523 recorded net flows of -€5.8M over the last month and +€18M year-to-date.

Does 2523 distribute dividends?

2523 follows a distributing dividend policy, meaning it pays out income to investors. As of April 22, 2026, its 12-month trailing yield was 1.58%.

What are the main country or region exposures of 2523?

As of March 31, 2026, 2523 has significant geographic allocations in Japan.

In which sector or theme does 2523 invest in?

As of March 31, 2026, 2523 focuses largely on Industrials, Consumer Discretionary and Information Technology.

How many securities does 2523 hold and how diversified is it?

As of March 31, 2026, 2523 holds 1383 positions in its portfolio, with 29.17% of assets concentrated in its top 15 holdings.

What are the main positions in 2523?

As of March 31, 2026, 2523 top three holdings include TOYOTA, HITACHI and MITSUBISHI.

What is the base currency of 2523?

The base currency of 2523 is JPY.

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