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BBJP vs. EWJ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BBJP vs. EWJ

Last updated Jun 24, 2026

BBJP (JPMorgan BetaBuilders Japan ETF) and EWJ (iShares MSCI Japan ETF) are both Japan Equities funds - BBJP tracks the Morningstar Japan Target Market Exposure Index while EWJ tracks the MSCI Japan Index. Both are passively managed. Over the past 5 years, BBJP returned 8.94%/yr vs 8.93%/yr for EWJ. With a 0.99 correlation, they move nearly in lockstep. BBJP charges 0.19%/yr vs 0.49%/yr for EWJ.

Performance

BBJP vs. EWJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders Japan ETF (BBJP) and iShares MSCI Japan ETF (EWJ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BBJP achieves a 13.64% return, which is significantly lower than EWJ's 15.50% return.

BBJP

1D
-4.15%
1M
0.55%
YTD
13.64%
6M
13.11%
1Y
32.87%
3Y*
18.20%
5Y*
8.94%
10Y*
—

EWJ

1D
-4.35%
1M
1.79%
YTD
15.50%
6M
14.93%
1Y
34.33%
3Y*
18.43%
5Y*
8.93%
10Y*
9.57%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BBJP vs. EWJ - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
BBJP
JPMorgan BetaBuilders Japan ETF		13.64%26.55%7.47%20.65%-17.24%1.21%15.42%18.85%-13.92%
EWJ
iShares MSCI Japan ETF		15.50%25.84%7.03%20.29%-17.72%1.16%15.40%19.34%-14.66%

Correlation

The correlation between BBJP and EWJ is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

1.00

Correlation (3Y)
Calculated over the trailing 3-year period

1.00

Correlation (5Y)
Calculated over the trailing 5-year period

1.00

Correlation (All Time)
Calculated using the full available price history since Jun 18, 2018

0.99

The correlation between BBJP and EWJ has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

BBJP vs. EWJ - Sectors Allocation Comparison

Sectors
BBJP
EWJ

Industrials

23.5%
24.5%

Technology

23.0%
21.7%

Financial Services

18.2%
17.0%

Consumer Cyclical

11.6%
11.9%

Communication Services

6.2%
8.9%

Healthcare

5.9%
5.6%

Consumer Defensive

3.5%
3.3%

Basic Materials

3.4%
3.4%

Real Estate

2.1%
1.9%

Utilities

1.1%
1.0%

Energy

0.8%
0.9%

Industrials

BBJP
23.5%
EWJ
24.5%

Technology

BBJP
23.0%
EWJ
21.7%

Financial Services

BBJP
18.2%
EWJ
17.0%

Consumer Cyclical

BBJP
11.6%
EWJ
11.9%

Communication Services

BBJP
6.2%
EWJ
8.9%

Healthcare

BBJP
5.9%
EWJ
5.6%

Consumer Defensive

BBJP
3.5%
EWJ
3.3%

Basic Materials

BBJP
3.4%
EWJ
3.4%

Real Estate

BBJP
2.1%
EWJ
1.9%

Utilities

BBJP
1.1%
EWJ
1.0%

Energy

BBJP
0.8%
EWJ
0.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

JPMorgan BetaBuilders Japan ETF

iShares MSCI Japan ETF

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Return for Risk

BBJP vs. EWJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BBJP
BBJP Risk / Return Rank: 5050
Overall Rank
BBJP Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
BBJP Sortino Ratio Rank: 4848
Sortino Ratio Rank
BBJP Omega Ratio Rank: 5050
Omega Ratio Rank
BBJP Calmar Ratio Rank: 5151
Calmar Ratio Rank
BBJP Martin Ratio Rank: 5050
Martin Ratio Rank
EWJ
EWJ Risk / Return Rank: 5151
Overall Rank
EWJ Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
EWJ Sortino Ratio Rank: 4949
Sortino Ratio Rank
EWJ Omega Ratio Rank: 5151
Omega Ratio Rank
EWJ Calmar Ratio Rank: 5353
Calmar Ratio Rank
EWJ Martin Ratio Rank: 5151
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBJP vs. EWJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders Japan ETF (BBJP) and iShares MSCI Japan ETF (EWJ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

BBJPEWJDifference
Sharpe ratioReturn per unit of total volatility
1.62
1.67

-0.05

Sortino ratioReturn per unit of downside risk
2.29
2.34

-0.05

Omega ratioGain probability vs. loss probability

1.30

1.31

-0.01

Calmar ratioReturn relative to maximum drawdown

2.43

2.54

-0.11

Martin ratioReturn relative to average drawdown

8.09

8.52

-0.43

BBJP vs. EWJ - Sharpe Ratio Comparison

The current BBJP Sharpe Ratio is 1.62, which is comparable to the EWJ Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of BBJP and EWJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

BBJP vs. EWJ - Drawdown Comparison

The maximum BBJP drawdown since its inception was -32.66%, smaller than the maximum EWJ drawdown of -60.93%. Use the drawdown chart below to compare losses from any high point for BBJP and EWJ.

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Drawdown Indicators

BBJPEWJDifference

Max Drawdown

Largest peak-to-trough decline

-32.66%

-60.93%

+28.27%

Max Drawdown (1Y)

Largest decline over 1 year

-13.60%

-13.59%

-0.01%

Max Drawdown (3Y)

Largest decline over 3 years

-14.49%

-14.68%

+0.19%

Max Drawdown (5Y)

Largest decline over 5 years

-32.66%

-33.14%

+0.48%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.14%

—

Current Drawdown

Current decline from peak

-4.15%

-4.35%

+0.20%

Average Drawdown

Average peak-to-trough decline

-8.48%

-21.70%

+13.22%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.07%

4.04%

+0.03%

Volatility

BBJP vs. EWJ - Volatility Comparison

The current volatility for JPMorgan BetaBuilders Japan ETF (BBJP) is 7.47%, while iShares MSCI Japan ETF (EWJ) has a volatility of 8.05%. This indicates that BBJP experiences smaller price fluctuations and is considered to be less risky than EWJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BBJPEWJDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.47%

8.05%

-0.58%

Volatility (6M)

Calculated over the trailing 6-month period

16.38%

16.67%

-0.29%

Volatility (1Y)

Calculated over the trailing 1-year period

20.43%

20.71%

-0.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.37%

18.50%

-0.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.40%

17.33%

+1.07%

BBJP vs. EWJ - Expense Ratio Comparison

BBJP has a 0.19% expense ratio, which is lower than EWJ's 0.49% expense ratio.

Dividends

BBJP vs. EWJ - Dividend Comparison

BBJP's dividend yield for the trailing twelve months is around 4.72%, more than EWJ's 3.84% yield.

PositionTTM20252024202320222021202020192018201720162015
BBJP
JPMorgan BetaBuilders Japan ETF		4.72%5.37%2.80%3.05%1.52%2.89%1.12%2.31%0.65%0.00%0.00%0.00%
EWJ
iShares MSCI Japan ETF		3.84%4.52%2.34%2.03%1.23%2.08%1.04%2.03%1.71%1.25%1.95%1.27%

Frequently Asked Questions

With a correlation of 1.00, BBJP and EWJ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

EWJ has higher volatility (8.05%) compared to BBJP (7.47%). In terms of maximum drawdown, BBJP dropped -32.66% vs EWJ's -60.93%.

On 5-year performance, BBJP leads with 8.94% vs 8.93% for EWJ. On fees, BBJP is cheaper at 0.19% per year. On volatility, BBJP has been the lower-risk option at 7.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, BBJP has performed better with a 8.94% return vs 8.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BBJP is cheaper with a 0.19% expense ratio, compared with 0.49% for EWJ.

BBJP has the higher dividend yield at 4.72%, compared with 3.84% for EWJ.

BBJP tracks Morningstar Japan Target Market Exposure Index, while EWJ tracks MSCI Japan Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.19% for BBJP and 0.49% for EWJ.

EWJ currently has the higher Sharpe Ratio (1.67 vs 1.62), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

Portfolio Optimizer

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