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EWJ vs. BBJP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EWJ vs. BBJP

Last updated Jun 7, 2026

EWJ (iShares MSCI Japan ETF) and BBJP (JPMorgan BetaBuilders Japan ETF) are both Japan Equities funds - EWJ tracks the MSCI Japan Index while BBJP tracks the Morningstar Japan Target Market Exposure Index. Both are passively managed. Over the past 5 years, EWJ returned 8.04%/yr vs 8.24%/yr for BBJP. With a 0.99 correlation, they move nearly in lockstep. EWJ charges 0.49%/yr vs 0.19%/yr for BBJP.

Performance

EWJ vs. BBJP - Performance Comparison

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

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Returns By Period

The year-to-date returns for both stocks are quite close, with EWJ having a 12.36% return and BBJP slightly lower at 11.77%.

EWJ

1D
-3.62%
1M
-1.63%
YTD
12.36%
6M
12.44%
1Y
28.52%
3Y*
16.28%
5Y*
8.04%
10Y*
8.81%

BBJP

1D
-3.41%
1M
-1.62%
YTD
11.77%
6M
12.18%
1Y
28.54%
3Y*
16.59%
5Y*
8.24%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

EWJ vs. BBJP - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
EWJ
iShares MSCI Japan ETF		12.36%25.84%7.03%20.29%-17.72%1.16%15.40%19.34%-14.03%
BBJP
JPMorgan BetaBuilders Japan ETF		11.77%26.55%7.47%20.65%-17.24%1.21%15.42%18.85%-13.92%

Correlation

The correlation between EWJ and BBJP 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 19, 2018

0.99

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

EWJ vs. BBJP - Sectors Allocation Comparison

Sectors
EWJ
BBJP

Industrials

26.0%
26.7%

Technology

19.1%
17.8%

Financial Services

17.5%
17.1%

Consumer Cyclical

12.2%
12.6%

Communication Services

7.9%
7.7%

Healthcare

6.3%
6.1%

Consumer Defensive

3.6%
3.7%

Basic Materials

3.0%
3.2%

Real Estate

2.3%
2.7%

Utilities

1.1%
1.3%

Energy

1.1%
1.0%

Industrials

EWJ
26.0%
BBJP
26.7%

Technology

EWJ
19.1%
BBJP
17.8%

Financial Services

EWJ
17.5%
BBJP
17.1%

Consumer Cyclical

EWJ
12.2%
BBJP
12.6%

Communication Services

EWJ
7.9%
BBJP
7.7%

Healthcare

EWJ
6.3%
BBJP
6.1%

Consumer Defensive

EWJ
3.6%
BBJP
3.7%

Basic Materials

EWJ
3.0%
BBJP
3.2%

Real Estate

EWJ
2.3%
BBJP
2.7%

Utilities

EWJ
1.1%
BBJP
1.3%

Energy

EWJ
1.1%
BBJP
1.0%

Compare stocks, funds, or ETFs

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

iShares MSCI Japan ETF

JPMorgan BetaBuilders Japan ETF

Often compared with EWJ:
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Often compared with BBJP:
BBJP vs. DXJBBJP vs. FLJPBBJP vs. EWJVBBJP vs. DBJPBBJP vs. VOOBBJP vs. BBAXBBJP vs. HEWJ

Return for Risk

EWJ vs. BBJP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EWJ
EWJ Risk / Return Rank: 4545
Overall Rank
EWJ Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
EWJ Sortino Ratio Rank: 4444
Sortino Ratio Rank
EWJ Omega Ratio Rank: 4545
Omega Ratio Rank
EWJ Calmar Ratio Rank: 4545
Calmar Ratio Rank
EWJ Martin Ratio Rank: 4646
Martin Ratio Rank
BBJP
BBJP Risk / Return Rank: 4545
Overall Rank
BBJP Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
BBJP Sortino Ratio Rank: 4646
Sortino Ratio Rank
BBJP Omega Ratio Rank: 4646
Omega Ratio Rank
BBJP Calmar Ratio Rank: 4545
Calmar Ratio Rank
BBJP Martin Ratio Rank: 4545
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.

EWJ vs. BBJP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan ETF (EWJ) and JPMorgan BetaBuilders Japan ETF (BBJP). 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.

EWJBBJPDifference
Sharpe ratioReturn per unit of total volatility
1.48
1.50

-0.01

Sortino ratioReturn per unit of downside risk
2.15
2.17

-0.02

Omega ratioGain probability vs. loss probability

1.28

1.28

0.00

Calmar ratioReturn relative to maximum drawdown

2.16

2.17

0.00

Martin ratioReturn relative to average drawdown

7.31

7.27

+0.05

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EWJ vs. BBJP - Sharpe Ratio Comparison

The current EWJ Sharpe Ratio is 1.48, which is comparable to the BBJP Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of EWJ and BBJP, 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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Sharpe Ratios by Period

EWJBBJPDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.48

1.50

-0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.44

0.45

-0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.51

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.11

0.42

-0.32

Drawdowns

EWJ vs. BBJP - Drawdown Comparison

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

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Drawdown Indicators

EWJBBJPDifference

Max Drawdown

Largest peak-to-trough decline

-60.93%

-32.66%

-28.27%

Max Drawdown (1Y)

Largest decline over 1 year

-13.59%

-13.60%

+0.01%

Max Drawdown (3Y)

Largest decline over 3 years

-14.68%

-14.49%

-0.19%

Max Drawdown (5Y)

Largest decline over 5 years

-33.14%

-32.66%

-0.48%

Max Drawdown (10Y)

Largest decline over 10 years

-33.14%

—

—

Current Drawdown

Current decline from peak

-3.62%

-3.94%

+0.32%

Average Drawdown

Average peak-to-trough decline

-21.73%

-8.52%

-13.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.01%

4.04%

-0.03%

Volatility

EWJ vs. BBJP - Volatility Comparison

iShares MSCI Japan ETF (EWJ) has a higher volatility of 5.08% compared to JPMorgan BetaBuilders Japan ETF (BBJP) at 4.80%. This indicates that EWJ's price experiences larger fluctuations and is considered to be riskier than BBJP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EWJBBJPDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.08%

4.80%

+0.28%

Volatility (6M)

Calculated over the trailing 6-month period

15.50%

15.40%

+0.10%

Volatility (1Y)

Calculated over the trailing 1-year period

19.84%

19.71%

+0.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.29%

18.21%

+0.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.31%

18.32%

-1.01%

EWJ vs. BBJP - Expense Ratio Comparison

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

Dividends

EWJ vs. BBJP - Dividend Comparison

EWJ's dividend yield for the trailing twelve months is around 4.03%, less than BBJP's 4.80% yield.

PositionTTM20252024202320222021202020192018201720162015
BBJP
JPMorgan BetaBuilders Japan ETF		4.80%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		4.03%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, EWJ and BBJP 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 (5.08%) compared to BBJP (4.80%). In terms of maximum drawdown, EWJ dropped -60.93% vs BBJP's -32.66%.

On 5-year performance, BBJP leads with 8.24% vs 8.04% for EWJ. On fees, BBJP is cheaper at 0.19% per year. On volatility, BBJP has been the lower-risk option at 4.80%. 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 8.24% return vs 8.04%. 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 4.80%, compared with 4.03% for EWJ.

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

BBJP currently has the higher Sharpe Ratio (1.50 vs 1.48), 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.

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