JPXN seeks to provide exposure to the Japan total market equity space, with a focus on companies that are appealing to investors and meet global investment standards. The fund selects Japanese companies based on metrics that measure efficiency in use of capital and profitability, as well as qualitative factors such as governance and reporting standards. Each company is scored based on 3-year ROE and operating profit, market capitalization, independence of directors, use of IFRS reporting standards, and disclosure of earnings information in English. The index uses a market-cap-weighting scheme. Note: JPXN changed its underlying index on September 4, 2015 to the JPX-Nikkei Index 400. Previously, the fund (under the ticker ITF) tracked large-cap Japanese companies with the S&P TOPIX 150 Index, while the more-inclusive new index can include mid-cap companies as well.