Assuming that Abenomics is successful, Japan due to rebounce this year.
Focus on high liquidity ETFs that are at least 3 years old and have positive 3 years returns
EWJ iShares MSCI Japan ETF -1.16% -2.33% -1.16% -6.41% +28.08% +18.34%
DXJ Japan Hedged Equity Fund -1.83% -10.52% -1.83% -1.31% +63.29% +30.51%
NKY MAXIS Nikkei 225 Index ETF -0.82% -1.49% -0.82% -5.43% +35.60% n/a
DBJP MSCI Japan Hedged Equity Fund -1.97% -1.36% -1.97% +5.39% +88.96% n/a
DFJ Japan SmallCap Fund -0.33% +0.02% -0.33% -3.71% +23.86% +36.43%
SCJ MSCI Japan Small-Cap ETF -0.17% +0.77% -0.17% -2.55% +27.79% +39.98%
JPP SPDR Russell/Nomura PRIME Japan ETF -1.42% -1.74% -1.42% -5.72% +25.80% +22.56%
Now DXJ is a sure candidate since it overpays EJW. DBJP is similar to DXJ in nature, but probably better strategy.
To get alternatives focus on some funds with different 5Y/3Y ratio. SCJ looks moderately better than DFJ.
Conclusion: may choose SCJ+DBJP mix based on available funds….