EWJ vs. HEWJ
Compare and contrast key facts about iShares MSCI Japan ETF (EWJ) and iShares Currency Hedged MSCI Japan ETF (HEWJ).
EWJ and HEWJ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EWJ is a passively managed fund by iShares that tracks the performance of the MSCI Japan Index. It was launched on Mar 12, 1996. HEWJ is a passively managed fund by iShares that tracks the performance of the MSCI Japan 100% Hedged to USD Index. It was launched on Jan 31, 2014. Both EWJ and HEWJ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: EWJ or HEWJ.
Key characteristics
| EWJ | HEWJ | |
|---|---|---|
| YTD Return | 5.61% | 18.45% |
| 1Y Return | 17.54% | 41.39% |
| 3Y Return (Ann) | 1.95% | 18.23% |
| 5Y Return (Ann) | 5.99% | 15.81% |
| 10Y Return (Ann) | 5.91% | 11.94% |
| Sharpe Ratio | 1.13 | 2.78 |
| Daily Std Dev | 14.71% | 15.37% |
| Max Drawdown | -58.89% | -31.53% |
| Current Drawdown | -5.69% | -2.38% |
Correlation
The correlation between EWJ and HEWJ is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
EWJ vs. HEWJ - Performance Comparison
In the year-to-date period, EWJ achieves a 5.61% return, which is significantly lower than HEWJ's 18.45% return. Over the past 10 years, EWJ has underperformed HEWJ with an annualized return of 5.91%, while HEWJ has yielded a comparatively higher 11.94% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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EWJ vs. HEWJ - Expense Ratio Comparison
Both EWJ and HEWJ have an expense ratio of 0.49%.
Risk-Adjusted Performance
EWJ vs. HEWJ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan ETF (EWJ) and iShares Currency Hedged MSCI Japan ETF (HEWJ). 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.
Dividends
EWJ vs. HEWJ - Dividend Comparison
EWJ's dividend yield for the trailing twelve months is around 1.93%, more than HEWJ's 1.71% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWJ iShares MSCI Japan ETF | 1.93% | 2.03% | 1.23% | 2.08% | 1.04% | 2.03% | 1.71% | 1.25% | 1.95% | 1.27% | 1.32% | 1.11% |
HEWJ iShares Currency Hedged MSCI Japan ETF | 1.71% | 2.02% | 47.68% | 2.03% | 1.20% | 2.77% | 1.37% | 1.21% | 1.88% | 3.25% | 2.15% | 0.00% |
Drawdowns
EWJ vs. HEWJ - Drawdown Comparison
The maximum EWJ drawdown since its inception was -58.89%, which is greater than HEWJ's maximum drawdown of -31.53%. Use the drawdown chart below to compare losses from any high point for EWJ and HEWJ. For additional features, visit the drawdowns tool.
Volatility
EWJ vs. HEWJ - Volatility Comparison
The current volatility for iShares MSCI Japan ETF (EWJ) is 4.26%, while iShares Currency Hedged MSCI Japan ETF (HEWJ) has a volatility of 4.77%. This indicates that EWJ experiences smaller price fluctuations and is considered to be less risky than HEWJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.