Fresh money kept flowing into Rakuten Investment Management's Rakuten ETF Nikkei Double Inverse Index Linked Fund in the year to March 2026, even though the product posted a net loss of ¥22.05 billion, driven largely by a ¥22.02 billion loss on derivative dealings. The fund's principal still rose to ¥1.45 trillion from ¥781.63 billion, while net assets fell to ¥28.79 billion from ¥40.93 billion.
| Metric | Year to March 2026 | Previous period |
|---|---|---|
| Principal | 1,451,587,000,000 yen | 781,626,000,000 yen |
| Net assets | 28,792,719,699 yen | 40,928,501,467 yen |
| Net profit/loss | -22,046,771,840 yen | -3,533,180,909 yen |
| Profit/loss on dealing of derivatives | -22,023,906,520 yen | -3,397,698,780 yen |
That is a striking combination. The ETF is built to track the Nikkei Average Double Inverse Index, a benchmark calculated at minus two times the Nikkei 225's daily move, and it mainly uses Nikkei 225 stock index futures to do that. In other words, this is a vehicle for investors seeking amplified downside exposure, not a sleepy core holding.
For business readers, the read-through is straightforward: demand for bearish exposure stayed robust over the period even as the strategy lost money and the fund's accumulated deficit reached ¥1.42 trillion. One caveat matters. This is a period report covering the year to March 15, 2026, not a same-day snapshot of market sentiment.