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NEXT FUNDS TOPIX-17 STEEL & NONFERROUS ETF (1623.TSE) — chart, structure and Closelook read

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Company snapshot — NEXT FUNDS TOPIX-17 STEEL & NONFERROUS ETF

1623.TSE in five paragraphs: what it makes and sells, where it sits in the Closelook stack, who it is priced against, why we track it, what we watch. Research diary, not advice.

What it does
This exchange-traded fund tracks the Steel & Nonferrous Metals sub-index of the TOPIX-17 series, one of seventeen sector groupings Nomura Asset Management uses to split the Tokyo market. It gives investors exposure to Japanese steel producers and nonferrous metal producers as a single basket rather than through individual shares. It trades on the Tokyo Stock Exchange under the NEXT FUNDS brand.
Where it sits in the stack
It carries no Closelook index seat and sits outside our Rubin build-out sleeves; it belongs instead to the materials and metals sector of the Japanese equity universe the diary tracks separately from the AI stack.
Who it is priced against
The comparison is with the other funds in the same NEXT FUNDS TOPIX-17 family, each tracking a different industry group within the TOPIX index rather than a single company or theme.
Why Closelook tracks it
It carries no Closelook index seat and no score; the diary has not quoted it in any edition.
What the diary watches
Whether demand for steel and base metals tied to power and grid build-out feeds through to the sector's earnings, which would be the first sign this basket starts to matter to the AI story.

NEXT FUNDS TOPIX-17 STEEL & NONFERROUS ETF (1623.TSE) trades on the TSE exchange in Japan.

Written from the company’s public profile and Closelook’s own readings, 2026-09-17. Descriptive, refreshed with the registry; corrections welcome via the imprint. closelook.net is an investment research diary — market structure, index membership and scores are our own readings, not investment advice. Related: index compare · sector dispersion · scanner.

Signals for this name

Every Closelook reading that exists for 1623.TSE, from the same nightly bakes the boards use. Research diary readings, not advice.

Weather around the name 3 macro readings: Money Temperature, Factor regime, Sovereign pressure

The weather around this name

Macro readings that apply by membership — the regime, the factor tape, the sector cell, the funding backdrop.

  • Money Temperature Composite 55/100 · S&P 500 fund at 58, above its 50- and 200-day averagesEight instruments scored on position, momentum, volume, volatility and fragility — the regime every name trades inside. Temperature lab → 2026-09-17
  • Factor regime Momentum leading — risk appetite buildingMomentum against low volatility (SPMO / SPLV): above its 50-day trend, 94th percentile of the window, +2.7% over 20 sessions. Factor regime → 2026-09-17
  • Sovereign pressure Index 0.00 · down 0.41 over 21 sessionsG7 long-end yields, 10s30s and the slope — the funding weather for every balance sheet on this site. Sovereign pressure → 2026-09-17

FAQ · from the current data · as of 2026-09-18

Quick answers

What is NEXT FUNDS TOPIX-17 STEEL & NONFERROUS ETF (1623.TSE)?

NEXT FUNDS TOPIX-17 STEEL & NONFERROUS ETF is an exchange-traded fund trading as 1623.TSE on the TSE exchange (Japan) and is one of the benchmark ETFs Closelook tracks as a market reference, as of the registry build of 2026-09-18.

How does Closelook use 1623.TSE?

As a benchmark: the daily editions, the sector dispersion board and the index dashboards quote NEXT FUNDS TOPIX-17 STEEL & NONFERROUS ETF as a market reference, and this page matches the fund's largest holdings against the names Closelook covers so a reader can move from the fund to the companies inside it.

Where does 1623.TSE trade against its moving averages?

Pullback inside an uptrend stack: Trades -2.5% vs the 50-day and +0.9% vs the 200-day average, 32.7% below the 52-week high and +75% off the 52-week low. Computed from daily closes. As of 2026-09-17 — a technical state from the nightly Closelook bake, not advice. The Technical tab carries the full row.

What does NEXT FUNDS TOPIX-17 STEEL & NONFERROUS ETF do?

This exchange-traded fund tracks the Steel & Nonferrous Metals sub-index of the TOPIX-17 series, one of seventeen sector groupings Nomura Asset Management uses to split the Tokyo market. It gives investors exposure to Japanese steel producers and nonferrous metal producers as a single basket rather than through individual shares. It trades on the Tokyo Stock Exchange under the NEXT FUNDS brand. The comparison is with the other funds in the same NEXT FUNDS TOPIX-17 family, each tracking a different industry group within the TOPIX index rather than a single company or theme.

Where does NEXT FUNDS TOPIX-17 STEEL & NONFERROUS ETF sit in the AI build-out?

It carries no Closelook index seat and sits outside our Rubin build-out sleeves; it belongs instead to the materials and metals sector of the Japanese equity universe the diary tracks separately from the AI stack. It carries no Closelook index seat and no score; the diary has not quoted it in any edition.

What does this page show?

A live price chart with SMA overlays and drawing tools for 1623.TSE, fund basics and the top holdings by weight with the Closelook names among them marked, the technical state where the data exists, and the research diary mentions — an investment research diary view, not investment advice.