The iShares Currency Hedged MSCI Japan ETF (NYSEArca: HEWJ) and Deutsche X-trackers MSCI Japan Hedged Equity ETF (NYSEArca: DBJP) are among the other well-known Japan ETFs for investors to consider. Both are currency hedged and could surge if the yen weakens against the U.S. dollar.

Related: Investors Should Look to International ETFs in Q4

DBJP has delivered a solid performance even in the face of the U.S. dollar slumping and the yen being solid. Japanese stocks are usually adversely affected by a stronger yen due to the economy’s high dependence on exports. Importantly, Japanese stocks are attractively valued relative to other developed markets.

“So if we’re going to see higher interest rates in December, selling pressure [may]come into the yen, which would be following the U.S. bond market lower,” Gordon said in an interview with CNBC.

For more information on the Japanese market, visit our Japan category.