EWJ — iShares MSCI Japan ETF

EWJ Price Performance — Growth of $10,000

Value of a $10,000 investment in EWJ over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

EWJ Drawdown

The "underwater" chart: EWJ's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The iShares MSCI Japan ETF (EWJ) operates within the Single Country - Developed category, where it is one of 18 funds tracked by ETFValuer. Issued by iShares, this fund manages $22.3 billion in assets and trades at a price of $91.21 per share. It holds an overall rank of #120 out of 458 tracked ETFs across all categories, earning an ETFValuer grade of B with a score of 69.2 out of 100. The fund charges an expense ratio of 0.49% and offers a dividend yield of 0.77%. The substantial asset under management figure suggests significant investor adoption relative to the category size, while the moderate yield indicates a focus on capital appreciation alongside income generation.

Over the last day, the fund gained 0.12%, followed by a weekly increase of 0.80% before dipping 1.51% over the past month. The three-month return accelerated to +5.32%, extending to +8.07% over six months and reaching +12.76% year-to-date. This upward trajectory continued strongly over the last year with a return of +24.38%, which further expanded to a 3-year total of +56.89%. The data shows a pattern of short-term volatility in the most recent month contrasting with sustained growth over longer horizons. The divergence between the monthly decline and the robust annual and three-year gains highlights a recovery and growth trend following the recent pullback.

The fund carries a Moderate volatility label and a beta of 0.83, indicating that its price movements have historically been less sensitive to broad market fluctuations. A Sharpe ratio of 0.94 suggests the fund has generated a reasonable amount of excess return per unit of risk taken over the measured period. However, the maximum drawdown of -14.68% reflects the potential for significant temporary losses during market downturns. This combination of a beta below 1.0 and a moderate drawdown implies the fund may offer some downside protection relative to the broader market while still participating in upside moves. The risk profile presents a balance between volatility management and return generation consistent with its B grade.

AI-generated summary based on the data on this page.

EWJ Top Holdings

Holdings as of 2026-02-28 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 27.9% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how EWJ's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With EWJ

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with EWJ's top 10 — FLJP overlaps most, holding 9 of the same companies as EWJ's top 10 (25.9% of EWJ's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.71% (as of 2026-07-23) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.70 (as of 2026-07-23) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

EWJ Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 0.67% and average daily volume is 5.7M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $22.3B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: EWJ is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

EWJ Performance History

How EWJ Compares to Other Single Country - Developed ETFs