- ISIN
- US46434G8226
- CUSIP
- 46434G822
- Issuer
- iShares
- Inception Date
- Mar 12, 1996
- Region
- Developed Asia Pacific (Japan)
- Category
- Japan Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- MSCI Japan Index
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $21B
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
EWJ Performance Chart
iShares MSCI Japan ETF (EWJ) is up 12.4% since the beginning of the year. EWJ is currently trading at $91 per share. Investors who bought $1,000 worth of EWJ shares 5 years ago would now be looking at an investment worth $1,472.
Loading charts...
Returns By Period
iShares MSCI Japan ETF (EWJ) has returned 12.36% so far this year and 28.52% over the past 12 months. Over the last ten years, EWJ has returned 8.81% per year, falling short of the S&P 500 Index benchmark, which averaged 13.33% annually.
iShares MSCI Japan ETF
- 1D
- -3.62%
- 1M
- -1.63%
- YTD
- 12.36%
- 6M
- 12.44%
- 1Y
- 28.52%
- 3Y*
- 16.28%
- 5Y*
- 8.04%
- 10Y*
- 8.81%
Benchmark (S&P 500 Index)
- 1D
- -2.64%
- 1M
- -0.21%
- YTD
- 7.86%
- 6M
- 7.47%
- 1Y
- 23.05%
- 3Y*
- 19.90%
- 5Y*
- 11.79%
- 10Y*
- 13.33%
EWJ Monthly Returns History
Based on dividend-adjusted daily data since Apr 1, 1996, EWJ's average daily return is +0.02%, while the average monthly return is +0.34%. At this rate, an investment would double in approximately 17.0 years.
Historically, 54% of months were positive and 46% were negative. The best month was Oct 1998 with a return of +21.1%, while the worst month was Aug 1998 at -16.5%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 9 months.
On a daily basis, EWJ closed higher 50% of trading days. The best single day was Oct 13, 2008 with a return of +17.2%, while the worst single day was Oct 15, 2008 at -10.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 6.17% | 7.76% | -8.59% | 5.52% | 4.33% | -2.41% | 12.36% | ||||||
| 2025 | 1.80% | 0.23% | 0.13% | 4.19% | 3.77% | 1.97% | -1.80% | 6.33% | 2.47% | 4.04% | -0.53% | 0.91% | 25.84% |
| 2024 | 3.23% | 4.40% | 3.23% | -5.72% | 2.53% | -0.33% | 4.00% | 1.41% | -0.60% | -4.85% | 2.38% | -2.21% | 7.03% |
| 2023 | 7.77% | -4.65% | 4.92% | 0.26% | 0.85% | 5.03% | 2.46% | -2.81% | -2.19% | -2.21% | 6.19% | 3.88% | 20.29% |
| 2022 | -4.30% | -1.78% | -2.11% | -8.10% | 1.73% | -7.39% | 6.28% | -4.56% | -8.84% | 2.33% | 11.62% | -2.22% | -17.72% |
| 2021 | -0.84% | 1.84% | 0.44% | -1.61% | 1.72% | -0.79% | -0.64% | 1.92% | 2.70% | -2.63% | -3.03% | 2.28% | 1.16% |
Benchmark Metrics
iShares MSCI Japan ETF has an annualized alpha of -2.26%, beta of 0.76, and R2 of 0.39 versus S&P 500 Index. Calculated based on daily prices since April 02, 1996.
- This ETF participated in 84.54% of S&P 500 Index downside but only 60.69% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.39 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- -2.26%
- Beta
- 0.76
- R²
- 0.39
- Upside Capture
- 60.69%
- Downside Capture
- 84.54%
Expense Ratio
EWJ has an expense ratio of 0.49%, placing it in the medium range.
Return for Risk
Risk / Return Rank
EWJ ranks 48 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares MSCI Japan ETF (EWJ) and compare them to S&P 500 Index.
| EWJ | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.36 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 2.69 | -0.52 |
| Martin ratioReturn relative to average drawdown | 7.31 | 12.34 | -5.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
iShares MSCI Japan ETF provided a 4.03% dividend yield over the last twelve months, with an annual payout of $3.65 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $3.65 | $3.65 | $1.57 | $1.31 | $0.67 | $1.39 | $0.70 | $1.20 | $0.87 | $0.75 | $0.95 | $0.61 |
Dividend yield | 4.03% | 4.52% | 2.34% | 2.03% | 1.23% | 2.08% | 1.04% | 2.03% | 1.71% | 1.25% | 1.95% | 1.27% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares MSCI Japan ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.59 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.06 | $3.65 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.51 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.06 | $1.57 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.43 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.87 | $1.31 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.55 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.12 | $0.67 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.50 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.89 | $1.39 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the iShares MSCI Japan ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the iShares MSCI Japan ETF was 60.93%, occurring on Apr 25, 2003. Recovery took 3551 trading sessions.
The current iShares MSCI Japan ETF drawdown is 3.62%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2003 bear market2003 | -60.93%Apr 2003 | 3y 22d | 14y 1mo | 17y 2moApr 2000 - Jun 2017 |
1998 bear market1998 | -53.33%Oct 1998 | 2y 4mo | 1y 3mo | 3y 7moMay 1996 - Dec 1999 |
Bear market2022 | -33.14%Oct 2022 | 1y 1mo | 1y 4mo | 2y 5moSep 2021 - Mar 2024 |
COVID crash2020 | -30.69%Mar 2020 | 2y 1mo | 7mo 28d | 2y 9moJan 2018 - Nov 2020 |
2025 selloff2025 | -14.68%Apr 2025 | 6mo 12d | 22d | 7mo 4dSep 2024 - Apr 2025 |
Drawdown Indicators
| EWJ | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.93% | -56.78% | -4.15% |
Max Drawdown (1Y)Largest decline over 1 year | -13.59% | -9.10% | -4.49% |
Max Drawdown (3Y)Largest decline over 3 years | -14.68% | -18.90% | +4.22% |
Max Drawdown (5Y)Largest decline over 5 years | -33.14% | -25.43% | -7.71% |
Max Drawdown (10Y)Largest decline over 10 years | -33.14% | -33.92% | +0.78% |
Current DrawdownCurrent decline from peak | -3.62% | -2.97% | -0.65% |
Average DrawdownAverage peak-to-trough decline | -21.73% | -10.72% | -11.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.01% | 1.97% | +2.04% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with EWJ
Add iShares MSCI Japan ETF to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with EWJ