Global X Scientific Beta Japan ETF
SCIJ
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- Global X Scientific Beta Japan ETF (SCIJ) is an exchange-traded fund that seeks to provide investment results corresponding generally to the price and yield performance, before fees and expenses, of the Scientific Beta Japan Multi-Beta Multi-Strategy Four-Factor Equal Risk Contribution (ERC) Index. The fund invests at least 80% of its total assets in securities comprising the underlying index and American Depositary Receipts and Global Depositary Receipts based on those securities; the index selects approximately 300 or fewer Japanese-listed common stocks from a universe of the 300 largest and most liquid stocks traded principally on Japanese stock exchanges, applying four academically recognized factors--Value (price-to-book ratio), Size (free-float market capitalization), Low-Volatility (historical volatility over 104 weeks), and Momentum (one-year-minus-one-month total returns)--with a proprietary multi-step weighting process combining multiple methodologies to diversify risks and target outperformance of traditional market capitalization-weighted indexes with similar or lower volatility. As of recent data, the fund exhibits sector allocations including industrials (approximately 23.70%), consumer discretionary (14.37%), information technology (11.47%), consumer staples (9.82%), materials (9.72%), and health care (9.56%), among others, targeting investors seeking smart beta exposure to Japanese equities. Launched on May 12, 2015, and managed by Global X Management Company LLC, headquartered at 605 Third Avenue, 43rd Floor, New York, NY 10158, SCIJ trades on the NYSE Arca exchange under the ticker SCIJ with CUSIP 37954Y509; the management fee is 0.38%, resulting in total annual fund operating expenses of 0.40%, and distributions occur annually. The fund serves institutional and retail investors focused on factor-based strategies for core equity exposure to Japan, a developed market comprising large-, mid-, and smaller-capitalization companies across diversified sectors. In a significant operational change, SCIJ faced liquidation and termination approved by the Board of Trustees on July 30, 2020, due to persistently low assets under management (around $13.58 million as of September 30, 2016, with expectations of insufficient growth); trading ceased on August 21, 2020, with final cash distributions pro rata to remaining shareholders on or about August 28, 2020, after which the fund terminated, bearing costs borne by the adviser except brokerage fees. No recent relaunches, partnerships, acquisitions, funding rounds, or new product offerings specific to SCIJ have been identified post-liquidation, though the issuer Global X continues expanding its ETF lineup, including Japan-focused products through affiliates like Global X Japan Co. Ltd., a 2019 joint venture with Daiwa Securities Group Inc. and Daiwa Asset Management Co. Ltd., headquartered in Tokyo. Current trading activity and quotes for SCIJ on platforms like Robinhood suggest possible archival or non-standard listings, but the fund is no longer operational as an active ETF.