EWJ vs. SPG
EWJ (iShares MSCI Japan ETF) is Japan Equities fund tracking the MSCI Japan Index, while SPG (Simon Property Group, Inc.) is a stock. Over the past 10 years, EWJ returned 9.55%/yr vs 6.11%/yr for SPG. At a 0.32 correlation, their price movements are largely independent.
Performance
EWJ vs. SPG - Performance Comparison
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Returns By Period
In the year-to-date period, EWJ achieves a 14.83% return, which is significantly lower than SPG's 21.01% return. Over the past 10 years, EWJ has outperformed SPG with an annualized return of 9.55%, while SPG has yielded a comparatively lower 6.11% annualized return.
EWJ
- 1D
- 0.57%
- 1M
- 0.71%
- YTD
- 14.83%
- 6M
- 14.50%
- 1Y
- 31.74%
- 3Y*
- 16.57%
- 5Y*
- 8.56%
- 10Y*
- 9.55%
SPG
- 1D
- 1.95%
- 1M
- 10.71%
- YTD
- 21.01%
- 6M
- 23.06%
- 1Y
- 46.24%
- 3Y*
- 32.01%
- 5Y*
- 16.57%
- 10Y*
- 6.11%
EWJ vs. SPG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EWJ iShares MSCI Japan ETF | 14.83% | 25.84% | 7.03% | 20.29% | -17.72% | 1.16% | 15.40% | 19.34% | -14.10% | 24.27% |
SPG Simon Property Group, Inc. | 21.01% | 12.94% | 26.92% | 29.24% | -21.91% | 95.72% | -38.64% | -6.74% | 2.55% | 0.98% |
Correlation
The correlation between EWJ and SPG is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 1996 | 0.32 |
The correlation between EWJ and SPG shifts across timeframes, from 0.25 (1 year) to 0.41 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EWJ vs. SPG — Risk / Return Rank
EWJ
SPG
EWJ vs. SPG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan ETF (EWJ) and Simon Property Group, Inc. (SPG). 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.
| EWJ | SPG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.40 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | 3.88 | -1.61 |
| Martin ratioReturn relative to average drawdown | 7.62 | 14.03 | -6.41 |
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Drawdowns
EWJ vs. SPG - Drawdown Comparison
The maximum EWJ drawdown since its inception was -60.93%, smaller than the maximum SPG drawdown of -77.00%. Use the drawdown chart below to compare losses from any high point for EWJ and SPG.
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Drawdown Indicators
| EWJ | SPG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.93% | -77.00% | +16.07% |
Max Drawdown (1Y)Largest decline over 1 year | -13.59% | -11.54% | -2.05% |
Max Drawdown (3Y)Largest decline over 3 years | -14.68% | -24.32% | +9.64% |
Max Drawdown (5Y)Largest decline over 5 years | -33.14% | -45.84% | +12.70% |
Max Drawdown (10Y)Largest decline over 10 years | -33.14% | -77.00% | +43.86% |
Current DrawdownCurrent decline from peak | -1.51% | 0.00% | -1.51% |
Average DrawdownAverage peak-to-trough decline | -21.72% | -13.83% | -7.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.04% | 3.18% | +0.86% |
Volatility
EWJ vs. SPG - Volatility Comparison
iShares MSCI Japan ETF (EWJ) has a higher volatility of 6.31% compared to Simon Property Group, Inc. (SPG) at 5.43%. This indicates that EWJ's price experiences larger fluctuations and is considered to be riskier than SPG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWJ | SPG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.31% | 5.43% | +0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 15.96% | 14.08% | +1.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.23% | 18.76% | +1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.38% | 26.55% | -8.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.33% | 37.08% | -19.75% |
Dividends
EWJ vs. SPG - Dividend Comparison
EWJ's dividend yield for the trailing twelve months is around 3.94%, less than SPG's 4.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWJ iShares MSCI Japan ETF | 3.94% | 4.52% | 2.34% | 2.03% | 1.23% | 2.08% | 1.04% | 2.03% | 1.71% | 1.25% | 1.95% | 1.27% |
SPG Simon Property Group, Inc. | 4.02% | 4.62% | 4.70% | 5.22% | 5.87% | 3.66% | 7.04% | 5.57% | 4.70% | 4.16% | 3.66% | 3.11% |
Frequently Asked Questions
EWJ and SPG have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EWJ has higher volatility (6.31%) compared to SPG (5.43%). In terms of maximum drawdown, EWJ dropped -60.93% vs SPG's -77.00%.
SPG currently has the higher Sharpe Ratio (2.38 vs 1.52), 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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