ProShares UltraShort MSCI Japan (EWV) belongs to the Japan Equities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with EWV. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to EWV
EWV charges 0.95% annually. There are 20 ETFs in the Japan Equities category with lower expense ratios, going as low as 0.09%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Franklin FTSE Japan Hedged ETF | 0.09% | 179.16M | Nov 2017 | EWV vs FLJH | |
| Franklin FTSE Japan ETF | 0.09% | 3.94B | Nov 2017 | EWV vs FLJP | |
| iShares MSCI Japan Value ETF | 0.15% | 720.95M | Mar 2019 | EWV vs EWJV | |
| JPMorgan BetaBuilders Japan ETF | 0.19% | 17.98B | Jun 2018 | EWV vs BBJP | |
| Goldman Sachs ActiveBeta Japan Equity ETF | 0.25% | 83.68M | Mar 2016 | EWV vs GSJY |
Best Risk-Adjusted Alternatives to EWV
EWV has a PortfoliosLab risk / return rank of 1. There are 19 ETFs in the Japan Equities category with higher risk-adjusted ranks, going as high as 91.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| WisdomTree Japan Hedged Equity Fund | 91 | 7.17B | Jun 2006 | EWV vs DXJ | |
| WisdomTree Japan Opportunities ETF | 91 | 279.45M | Jun 2013 | EWV vs OPPJ | |
| Xtrackers MSCI Japan Hedged Equity ETF | 87 | 674.46M | Jun 2011 | EWV vs DBJP | |
| iShares Currency Hedged MSCI Japan ETF | 87 | 716.13M | Jan 2014 | EWV vs HEWJ | |
| Franklin FTSE Japan Hedged ETF | 80 | 179.16M | Nov 2017 | EWV vs FLJH |
Top Performing EWV Alternatives (YTD)
EWV is at -31.51% YTD. There are 20 ETFs in the Japan Equities category with higher YTD returns, going as high as 29.20%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| ProShares Ultra MSCI Japan | 29.20% | 12.61M | Jun 2009 | EWV vs EZJ | |
| MUFG Japan Small Cap Active ETF | 24.30% | 22.87M | Sep 2025 | EWV vs MJSC | |
| WisdomTree Japan Opportunities ETF | 23.68% | 279.45M | Jun 2013 | EWV vs OPPJ | |
| WisdomTree Japan Hedged Equity Fund | 21.58% | 7.17B | Jun 2006 | EWV vs DXJ | |
| Xtrackers MSCI Japan Hedged Equity ETF | 20.72% | 674.46M | Jun 2011 | EWV vs DBJP |
Lowest Volatility Alternatives to EWV
EWV has 42.84% 1-year volatility. There are 19 ETFs in the Japan Equities category with lower 1-year volatility, going as low as 17.18%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| iShares MSCI Japan Small Cap ETF | 17.18% | 252.53M | Dec 2007 | EWV vs SCJ | |
| WisdomTree Japan SmallCap Dividend Fund | 17.55% | 381.12M | Jun 2006 | EWV vs DFJ | |
| WisdomTree Japan Hedged Equity Fund | 18.18% | 7.17B | Jun 2006 | EWV vs DXJ | |
| iShares MSCI Japan Value ETF | 19.19% | 720.95M | Mar 2019 | EWV vs EWJV | |
| Franklin FTSE Japan Hedged ETF | 19.20% | 179.16M | Nov 2017 | EWV vs FLJH |
Lowest Drawdown Alternatives to EWV
EWV has a 1-year max drawdown of -46.21%. There are 19 ETFs in the Japan Equities category with shallower 1-year drawdowns, going as shallow as -9.82%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| WisdomTree Japan Opportunities ETF | -9.82% | 279.45M | Jun 2013 | EWV vs OPPJ | |
| iShares Currency Hedged MSCI Japan ETF | -10.37% | 716.13M | Jan 2014 | EWV vs HEWJ | |
| Xtrackers MSCI Japan Hedged Equity ETF | -10.39% | 674.46M | Jun 2011 | EWV vs DBJP | |
| Franklin FTSE Japan Hedged ETF | -10.80% | 179.16M | Nov 2017 | EWV vs FLJH | |
| WisdomTree Japan Hedged Equity Fund | -10.98% | 7.17B | Jun 2006 | EWV vs DXJ |
Other ETFs from ProShares
The 10 most viewed ProShares ETFs shown here include TQQQ, QLD, BITO and span 10 categories. AUM among these funds goes as high as $33B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| ProShares UltraPro QQQ | Leveraged Equities | 45 | 42.48% | 32.83B | Feb 2010 | EWV vs TQQQ | |
| ProShares Ultra QQQ | Leveraged Equities | 47 | 31.43% | 12.76B | Jun 2006 | EWV vs QLD | |
| ProShares Bitcoin Strategy ETF | Cryptocurrency | 2 | -27.98% | 1.41B | Oct 2021 | EWV vs BITO | |
| ProShares UltraPro S&P 500 | Leveraged Equities, S&P 500 | 59 | 33.75% | 5.15B | Jun 2009 | EWV vs UPRO | |
| ProShares Ultra S&P500 | Leveraged Equities, S&P 500 | 61 | 23.77% | 7.81B | Jun 2006 | EWV vs SSO | |
| ProShares Ultra Semiconductors | Leveraged Equities, Semiconductors | 56 | 71.41% | 2.47B | Jan 2007 | EWV vs USD | |
| ProShares S&P 500 Dividend Aristocrats ETF | Dividend, S&P 500, Large Cap Value Equities | 46 | 12.94% | 11.68B | Oct 2013 | EWV vs NOBL | |
| ProShares UltraPro Short QQQ | Leveraged Equities, Inverse Equities, Nasdaq-100 | 1 | -44.29% | 2.00B | Feb 2010 | EWV vs SQQQ | |
| ProShares Nasdaq-100 High Income ETF | Nasdaq-100, Derivative Income, Dividend | 49 | 14.23% | 394.37M | Mar 2024 | EWV vs IQQQ | |
| ProShares Ultra VIX Short-Term Futures ETF | Volatility | 2 | -35.49% | 244.68M | Oct 2011 | EWV vs UVXY |
Often Compared With EWV
Investors most often compare EWV with TMF, SPY, WTIU. These 20 comparison targets span 11 categories, based on PortfoliosLab usage data.
Compare EWV with Any Fund or Stock
Compare EWV with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair EWV with funds that move differently
ProShares UltraShort MSCI Japan alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to EWV.
Explore EWV Diversifiers