iShares Currency Hedged MSCI Japan ETF (HEWJ) 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 HEWJ. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to HEWJ
HEWJ charges 0.49% annually. There are 8 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 ETF | 0.09% | 3.93B | Nov 2017 | HEWJ vs FLJP | |
| Franklin FTSE Japan Hedged ETF | 0.09% | 171.61M | Nov 2017 | HEWJ vs FLJH | |
| iShares MSCI Japan Value ETF | 0.15% | 752.30M | Mar 2019 | HEWJ vs EWJV | |
| JPMorgan BetaBuilders Japan ETF | 0.19% | 18.07B | Jun 2018 | HEWJ vs BBJP | |
| Goldman Sachs ActiveBeta Japan Equity ETF | 0.25% | 81.67M | Mar 2016 | HEWJ vs GSJY |
Best Risk-Adjusted Alternatives to HEWJ
HEWJ has a PortfoliosLab risk / return rank of 87. There are 3 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 Opportunities ETF | 91 | 292.99M | Jun 2013 | HEWJ vs OPPJ | |
| WisdomTree Japan Hedged Equity Fund | 90 | 7.20B | Jun 2006 | HEWJ vs DXJ | |
| Xtrackers MSCI Japan Hedged Equity ETF | 88 | 679.07M | Jun 2011 | HEWJ vs DBJP | |
| Franklin FTSE Japan Hedged ETF | 82 | 171.61M | Nov 2017 | HEWJ vs FLJH | |
| Neuberger Berman Japan Equity ETF | 58 | 142.20M | Sep 2024 | HEWJ vs NBJP |
Top Performing HEWJ Alternatives (YTD)
HEWJ is at 20.65% YTD. There are 4 ETFs in the Japan Equities category with higher YTD returns, going as high as 26.34%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| WisdomTree Japan Opportunities ETF | 26.34% | 292.99M | Jun 2013 | HEWJ vs OPPJ | |
| ProShares Ultra MSCI Japan | 25.72% | 13.96M | Jun 2009 | HEWJ vs EZJ | |
| MUFG Japan Small Cap Active ETF | 22.08% | 22.87M | Sep 2025 | HEWJ vs MJSC | |
| Xtrackers MSCI Japan Hedged Equity ETF | 21.03% | 679.07M | Jun 2011 | HEWJ vs DBJP | |
| Franklin FTSE Japan Hedged ETF | 20.28% | 171.61M | Nov 2017 | HEWJ vs FLJH |
Lowest Volatility Alternatives to HEWJ
HEWJ has 19.95% 1-year volatility. There are 9 ETFs in the Japan Equities category with lower 1-year volatility, going as low as 16.49%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| iShares MSCI Japan Small Cap ETF | 16.49% | 233.98M | Dec 2007 | HEWJ vs SCJ | |
| WisdomTree Japan SmallCap Dividend Fund | 16.85% | 383.27M | Jun 2006 | HEWJ vs DFJ | |
| WisdomTree Japan Hedged Equity Fund | 18.14% | 7.20B | Jun 2006 | HEWJ vs DXJ | |
| Franklin FTSE Japan Hedged ETF | 18.98% | 171.61M | Nov 2017 | HEWJ vs FLJH | |
| Horizon Kinetics Japan Owner Operator ETF | 19.48% | — | May 2025 | HEWJ vs JAPN |
Lowest Drawdown Alternatives to HEWJ
HEWJ has a 1-year max drawdown of -10.37%. There is 1 ETF in the Japan Equities category with a shallower 1-year drawdown, going as shallow as -9.82%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| WisdomTree Japan Opportunities ETF | -9.82% | 292.99M | Jun 2013 | HEWJ vs OPPJ | |
| Xtrackers MSCI Japan Hedged Equity ETF | -10.39% | 679.07M | Jun 2011 | HEWJ vs DBJP | |
| Franklin FTSE Japan Hedged ETF | -10.80% | 171.61M | Nov 2017 | HEWJ vs FLJH | |
| WisdomTree Japan Hedged Equity Fund | -10.98% | 7.20B | Jun 2006 | HEWJ vs DXJ | |
| iShares MSCI Japan Small Cap ETF | -12.17% | 233.98M | Dec 2007 | HEWJ vs SCJ |
Other ETFs from iShares
The 10 most viewed iShares ETFs shown here include SGOV, IBIT, IVV and span 14 categories. AUM among these funds goes as high as $838B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | Ultrashort Bond | 100 | 1.71% | 95.28B | May 2020 | HEWJ vs SGOV | |
| iShares Bitcoin Trust ETF | Cryptocurrency | 2 | -28.88% | 48.04B | Jan 2024 | HEWJ vs IBIT | |
| iShares Core S&P 500 ETF | S&P 500 | 59 | 8.20% | 837.93B | May 2000 | HEWJ vs IVV | |
| iShares Semiconductor ETF | Semiconductors, Technology Equities | 95 | 100.58% | 46.67B | Jul 2001 | HEWJ vs SOXX | |
| iShares 20+ Year Treasury Bond ETF | Government Bonds, Long-Term Bond | 14 | 0.77% | 41.34B | Jul 2002 | HEWJ vs TLT | |
| iShares Core Dividend Growth ETF | Large Cap Growth Equities, Dividend | 75 | 9.19% | 41.89B | Jun 2014 | HEWJ vs DGRO | |
| iShares Silver Trust | Silver, Precious Metals | 31 | -13.49% | 32.53B | Apr 2006 | HEWJ vs SLV | |
| iShares Gold Trust | Gold, Precious Metals | 22 | -4.73% | 64.29B | Jan 2005 | HEWJ vs IAU | |
| iShares Russell 2000 ETF | Small Cap Blend Equities | 67 | 20.47% | 81.35B | May 2000 | HEWJ vs IWM | |
| iShares MSCI ACWI ETF | Global Equities | 58 | 9.86% | 32.95B | Mar 2008 | HEWJ vs ACWI |
Often Compared With HEWJ
Investors most often compare HEWJ with EWJ, HEFA, HEEM. These 20 comparison targets span 13 categories, based on PortfoliosLab usage data.
Compare HEWJ with Any Fund or Stock
Compare HEWJ with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair HEWJ with funds that move differently
iShares Currency Hedged MSCI Japan ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to HEWJ.
Explore HEWJ Diversifiers