Mutual funds
These show up often in long-term installment talk. Tsumitate or Growth is decided fund by fund.
NISA-eligible products
What Can You Invest in Through NISA?
NISA is Japan’s tax-advantaged investment account system, not a product name. Whether a fund, ETF, or stock can sit inside it depends on the quota, the product type, whether that product meets the current rules, and whether your institution offers it.
What NISA can hold
The table groups product types. Whether one product qualifies is on that product’s page and at the institution.
| Product type | Tsumitate quota | Growth quota | Check first |
|---|---|---|---|
| Qualifying mutual funds | Built around the long-term, installment, diversified tests | Possible when the growth rules are met | A series or index name is not enough |
| ETFs | Only names on the FSA list, and only as an installment purchase | Listed ETFs can be in scope, with exclusions | Check the listing, not the market alone |
| Japanese listed stocks | Not accepted | Listed stocks can be in scope. Supervision and delisting names are out | The institution must offer that name |
| Foreign listed stocks | Not accepted | A listed share the institution can trade may be in scope | Which markets are offered depends on the firm |
| Listed REITs | Not accepted | Listed REITs are part of the growth description | Still check the individual name |
| Bonds and bond funds | Not accepted | Not accepted | A taxable-account purchase is a separate question |
What the Tsumitate quota can hold
The Tsumitate Investment Quota (つみたて投資枠) is limited to products suited to long-term, installment, diversified investing. The Japan Securities Dealers Association describes the range as listed ETFs and publicly offered equity funds that meet those tests. Listed stocks, REITs, monthly-distribution equity funds, bonds, and bond funds are not accepted.
Trust term, derivatives, distributions, the index, and fees have further conditions in the cabinet notice. Purchases are limited to installment contracts. The Financial Services Agency updates the list. Check the current list and that product’s page.
What the Growth quota can hold
The Growth Investment Quota (成長投資枠) is wider. The same association describes listed stocks, ETFs, REITs, and equity funds. It is not a quota that accepts everything.
Named exclusions include supervision and delisting stocks, trusts shorter than 20 years, monthly-distribution funds, and certain funds that use derivatives other than for hedging. Bonds and bond funds are also out. A wider range still needs a check of the name and of the institution.
Funds, ETFs, and stocks are different checks
The type changes where you look.
ETFs
An exchange-traded fund. Check both the quota and the listing. In the Tsumitate quota the purchase method is an installment.
Stocks
Individual shares belong with the Growth quota. They are not a Tsumitate product.
How to check one product
Use this order instead of memorizing a directory.
- 1
Name the type
Fund, ETF, listed stock, REIT, or bond.
- 2
Pick the quota
Tsumitate and Growth do not use the same product rules.
- 3
Hold it against that quota
Trust term, distributions, derivatives, and supervision or delisting status live in the product documents.
- 4
Open the current list or prospectus
Tsumitate names are on the FSA list. A growth-quota fund is checked against the industry filing and the prospectus.
- 5
See if your institution offers it
A rule that allows a product is not the same as a buy button at one firm.
- 6
Then keep researching
Cost, holdings, and your time horizon come after eligibility.
Situations people actually hit
The nickname does not decide it. Check the documents for the specific eMAXIS Slim All Country fund and the current rules.
The same index can still mean a different product, and eligibility is checked product by product.
Listed shares are not accepted there. Look at the Growth quota, then at the name and the broker.
A taxable-account listing and a NISA quota are different checks.
Whether the product meets the quota is read from the product. Whether you can buy it depends on what that firm offers.
Phrases that get mixed up
NISA can buy every fund
What holdsEach quota has conditions. A fund outside them is a taxable-account question.
The Growth quota has no product limits
What holdsListed stocks and funds can be in scope, and supervision names and monthly-distribution funds are excluded.
Every ETF fits in NISA
What holdsTsumitate is the FSA list plus installment purchases. Growth has exclusions too.
Anything the broker sells can use NISA
What holdsAvailability and quota eligibility are separate.
The same index means the same eligibility
What holdsThe index can match while the product still needs its own check.
The eligible list never changes
What holdsThe FSA updates the Tsumitate product list. One check does not last forever.
Where to go next
Once the quotas are distinct, open a product type or the rule for that quota.
Funds
Names and fees belong on the published product page.
ETFs
The door for exchange-traded funds.
Stocks
Individual shares are a Growth-quota question.
eMAXIS Slim
The series map. Eligibility is still fund by fund.
Explore investments
Start from a product type.
Orukan
What the worldwide-equity nickname points to.
NISA
The account as a whole.
Tsumitate quota
The quota itself.
Growth quota
The quota itself.
Compare
The two quotas, or a fund versus an ETF.
Ask AI
Questions that depend on residency, time, or an amount.
Questions people actually ask
Which funds can NISA hold?
The Tsumitate quota centers on funds that pass the long-term installment tests, plus ETFs on the official list. The Growth quota is wider and still excludes monthly-distribution funds and other named cases. Check the current list and that product’s page.
Can the Tsumitate quota buy stocks?
Listed shares are not accepted. Individual stocks are checked on the Growth side, name by name.
Can the Growth quota buy ETFs?
A listed ETF can be in scope. Supervision or delisting status, and the fund-side exclusions, are separate checks.
Is every eMAXIS Slim fund eligible?
The series name does not decide it. All Country and a US equity fund are still checked one by one.
Can Orukan be used in NISA?
The nickname does not decide it. Read the documents for eMAXIS Slim All Country and the current rules.
Can NISA hold foreign stocks?
Not in the Tsumitate quota. In the Growth quota, a listed share your institution offers may qualify. Not every foreign market is available.
Where do I confirm eligibility?
The FSA list for the Tsumitate quota, the prospectus for the product, and the institution’s screen for whether you can buy it.
If a broker sells it, can NISA hold it?
Not automatically. A taxable-account listing and a quota are different checks.
Check it against your own product
After the type and the quota are clear, questions that depend on residency, time, or an amount can go to Ask AI. Eligibility still starts in the product documents and the official list.
Financial Services Agency: Tsumitate product list · Japan Securities Dealers Association: NISA FAQ · Financial Services Agency: NISA · National Tax Agency: NISA
This explains how the quotas treat product types. It is not a suggestion to buy. Eligibility rules and the lists change. Money you invest can fall in value.