EWJV vs. GMOI

Last updated Jun 26, 2026

EWJV (iShares MSCI Japan Value ETF) and GMOI (GMO International Value ETF) are both exchange-traded funds - EWJV is a Japan Equities fund tracking the MSCI Japan Value Index, while GMOI is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Value. Both are passively managed. Over the past year, EWJV returned 37.08% vs 34.97% for GMOI. A 0.75 correlation means they provide meaningful diversification when combined. EWJV charges 0.15%/yr vs 0.60%/yr for GMOI.

Performance

EWJV vs. GMOI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Japan Value ETF (EWJV) and GMO International Value ETF (GMOI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with EWJV having a 11.89% return and GMOI slightly lower at 11.64%.

EWJV

• 1D: -0.09%
• 1M: -2.65%
• YTD: 11.89%
• 6M: 11.85%
• 1Y: 37.08%
• 3Y*: 22.67%
• 5Y*: 13.32%
• 10Y*: —

GMOI

• 1D: 0.67%
• 1M: -2.22%
• YTD: 11.64%
• 6M: 11.19%
• 1Y: 34.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EWJV vs. GMOI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EWJV iShares MSCI Japan Value ETF	11.89%	33.96%	2.72%
GMOI GMO International Value ETF	11.64%	45.64%	-4.48%

Correlation

The correlation between EWJV and GMOI is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (All Time) Calculated using the full available price history since Oct 29, 2024	0.75

The correlation between EWJV and GMOI has been stable across timeframes, ranging from 0.75 to 0.75 - a consistent structural relationship.

Return for Risk

EWJV vs. GMOI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EWJV

EWJV Risk / Return Rank: 62
EWJV Sharpe Ratio Rank: 67
EWJV Sortino Ratio Rank: 67
EWJV Omega Ratio Rank: 68
EWJV Calmar Ratio Rank: 59
EWJV Martin Ratio Rank: 50

GMOI

GMOI Risk / Return Rank: 88
GMOI Sharpe Ratio Rank: 90
GMOI Sortino Ratio Rank: 90
GMOI Omega Ratio Rank: 87
GMOI Calmar Ratio Rank: 86
GMOI Martin Ratio Rank: 88

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.

EWJV vs. GMOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Japan Value ETF (EWJV) and GMO International Value ETF (GMOI). 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.

	EWJV	GMOI	Difference
Sharpe ratio: Return per unit of total volatility	1.89	2.63	-0.73
Sortino ratio: Return per unit of downside risk	2.67	3.63	-0.97
Omega ratio: Gain probability vs. loss probability	1.35	1.46	-0.11
Calmar ratio: Return relative to maximum drawdown	2.53	4.20	-1.67
Martin ratio: Return relative to average drawdown	7.45	16.42	-8.97

EWJV vs. GMOI - Sharpe Ratio Comparison

The current EWJV Sharpe Ratio is 1.89, which is comparable to the GMOI Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of EWJV and GMOI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EWJV vs. GMOI - Drawdown Comparison

The maximum EWJV drawdown since its inception was -30.05%, which is greater than GMOI's maximum drawdown of -14.67%. Use the drawdown chart below to compare losses from any high point for EWJV and GMOI.

Drawdown Indicators

	EWJV	GMOI	Difference
Max Drawdown Largest peak-to-trough decline	-30.05%	-14.67%	-15.38%
Max Drawdown (1Y) Largest decline over 1 year	-14.74%	-8.36%	-6.38%
Max Drawdown (3Y) Largest decline over 3 years	-14.74%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.39%	—	—
Current Drawdown Current decline from peak	-6.57%	-2.53%	-4.04%
Average Drawdown Average peak-to-trough decline	-6.18%	-1.69%	-4.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.99%	2.14%	+2.85%

Volatility

EWJV vs. GMOI - Volatility Comparison

iShares MSCI Japan Value ETF (EWJV) has a higher volatility of 5.70% compared to GMO International Value ETF (GMOI) at 4.02%. This indicates that EWJV's price experiences larger fluctuations and is considered to be riskier than GMOI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EWJV	GMOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.70%	4.02%	+1.68%
Volatility (6M) Calculated over the trailing 6-month period	15.22%	10.70%	+4.52%
Volatility (1Y) Calculated over the trailing 1-year period	19.70%	13.40%	+6.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.07%	15.55%	+2.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.56%	15.55%	+3.01%

EWJV vs. GMOI - Expense Ratio Comparison

EWJV has a 0.15% expense ratio, which is lower than GMOI's 0.60% expense ratio.

Dividends

EWJV vs. GMOI - Dividend Comparison

EWJV's dividend yield for the trailing twelve months is around 5.08%, more than GMOI's 2.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
EWJV iShares MSCI Japan Value ETF	5.08%	5.35%	4.10%	3.32%	2.71%	2.46%	1.96%	4.29%
GMOI GMO International Value ETF	2.45%	2.74%	0.54%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EWJV and GMOI in my portfolio?

EWJV and GMOI have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EWJV or GMOI?

EWJV has higher volatility (5.70%) compared to GMOI (4.02%). In terms of maximum drawdown, EWJV dropped -30.05% vs GMOI's -14.67%.

Which ETF is better, EWJV or GMOI?

On 1-year performance, EWJV leads with 37.08% vs 34.97% for GMOI. On fees, EWJV is cheaper at 0.15% per year. On volatility, GMOI has been the lower-risk option at 4.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EWJV or GMOI?

Over the 1-year period, EWJV has performed better with a 37.08% return vs 34.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EWJV or GMOI?

EWJV is cheaper with a 0.15% expense ratio, compared with 0.60% for GMOI.

Which ETF pays a higher dividend yield, EWJV or GMOI?

EWJV has the higher dividend yield at 5.08%, compared with 2.45% for GMOI.

What is the main difference between EWJV and GMOI?

EWJV is categorized as Japan Equities, while GMOI is Foreign Large Cap Equities. EWJV tracks MSCI Japan Value Index, while GMOI tracks MSCI World ex USA Value. They also come from different issuers: iShares and GMO. Their fees differ too: 0.15% for EWJV and 0.60% for GMOI.

Which has better risk-adjusted returns?

GMOI currently has the higher Sharpe Ratio (2.63 vs 1.89), 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.