Japanese equities outperform S&P with lower volatility

Over the past five years, Japanese equity markets have performed well, with the TOPIX rising by nearly 80% from January 2020 to August 2025. During that time, the market navigated a global pandemic, new guidance, and trade turbulence caused by US President Trump’s trade tariffs. The Magnificent 7 stocks have performed extremely well, but their dominance, along with the heavy US weighting in global markets, has raised concerns. Japanese stocks could provide the solution, with the TOPIX outperforming the S&P 500 (equal weighted) and the STOXX 600 with lower market volatility. Learn more about...