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GSJY vs. EWJ
Performance
Return for Risk
Dividends
Drawdowns
Volatility

GSJY vs. EWJ

Last updated Apr 1, 2026

Compare and contrast key facts about Goldman Sachs ActiveBeta Japan Equity ETF (GSJY) and iShares MSCI Japan ETF (EWJ).

GSJY and EWJ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GSJY is a passively managed fund by Goldman Sachs that tracks the performance of the Goldman Sachs ActiveBeta Japan Equity Index. It was launched on Mar 2, 2016. EWJ is a passively managed fund by iShares that tracks the performance of the MSCI Japan Index. It was launched on Mar 12, 1996. Both GSJY and EWJ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

GSJY vs. EWJ - Performance Comparison

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

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GSJY vs. EWJ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
GSJY
Goldman Sachs ActiveBeta Japan Equity ETF		4.45%26.22%8.89%19.18%-16.15%0.41%13.81%18.29%-11.56%25.50%
EWJ
iShares MSCI Japan ETF		4.58%25.84%7.03%20.29%-17.72%1.16%15.40%19.34%-14.10%24.27%

Returns By Period

The year-to-date returns for both investments are quite close, with GSJY having a 4.45% return and EWJ slightly higher at 4.58%. Both investments have delivered pretty close results over the past 10 years, with GSJY having a 8.90% annualized return and EWJ not far behind at 8.78%.

GSJY

1D
3.50%
1M
-8.53%
YTD
4.45%
6M
9.43%
1Y
29.05%
3Y*
16.99%
5Y*
7.02%
10Y*
8.90%

EWJ

1D
3.58%
1M
-8.59%
YTD
4.58%
6M
9.21%
1Y
28.81%
3Y*
16.27%
5Y*
6.62%
10Y*
8.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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

Goldman Sachs ActiveBeta Japan Equity ETF

iShares MSCI Japan ETF

Often compared with GSJY:
GSJY vs. DXJSGSJY vs. EUE.LGSJY vs. JPMGSJY vs. ^GSPCGSJY vs. EWJVGSJY vs. AMZNGSJY vs. GSEU
Often compared with EWJ:
EWJ vs. DXJEWJ vs. EWJVEWJ vs. ^N225EWJ vs. EWYEWJ vs. HEWJEWJ vs. FLJPEWJ vs. JPXN

GSJY vs. EWJ - Expense Ratio Comparison

GSJY has a 0.25% expense ratio, which is lower than EWJ's 0.49% expense ratio.

EWJ
iShares MSCI Japan ETF
GSJY
Goldman Sachs ActiveBeta Japan Equity ETF

Return for Risk

GSJY vs. EWJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GSJY
GSJY Risk / Return Rank: 7474
Overall Rank
GSJY Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
GSJY Sortino Ratio Rank: 7575
Sortino Ratio Rank
GSJY Omega Ratio Rank: 7272
Omega Ratio Rank
GSJY Calmar Ratio Rank: 7575
Calmar Ratio Rank
GSJY Martin Ratio Rank: 7272
Martin Ratio Rank
EWJ
EWJ Risk / Return Rank: 7777
Overall Rank
EWJ Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
EWJ Sortino Ratio Rank: 7878
Sortino Ratio Rank
EWJ Omega Ratio Rank: 7474
Omega Ratio Rank
EWJ Calmar Ratio Rank: 7979
Calmar Ratio Rank
EWJ Martin Ratio Rank: 7676
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.

GSJY vs. EWJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs ActiveBeta Japan Equity ETF (GSJY) 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.

GSJYEWJDifference

Sharpe ratio

Return per unit of total volatility

1.32

1.32

0.00

Sortino ratio

Return per unit of downside risk

1.90

1.92

-0.02

Omega ratio

Gain probability vs. loss probability

1.27

1.26

0.00

Calmar ratio

Return relative to maximum drawdown

1.97

2.03

-0.06

Martin ratio

Return relative to average drawdown

7.41

7.50

-0.09

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

GSJY vs. EWJ - Sharpe Ratio Comparison

The current GSJY Sharpe Ratio is 1.32, which is comparable to the EWJ Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of GSJY and EWJ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

GSJYEWJDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.32

1.32

0.00

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.39

0.37

+0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.53

0.51

+0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

0.10

+0.40

Correlation

The correlation between GSJY and EWJ is 0.95, 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.

Dividends

GSJY vs. EWJ - Dividend Comparison

GSJY's dividend yield for the trailing twelve months is around 1.90%, less than EWJ's 4.33% yield.

TTM20252024202320222021202020192018201720162015
GSJY
Goldman Sachs ActiveBeta Japan Equity ETF		1.90%1.99%1.64%2.11%2.13%1.73%1.22%2.79%3.28%1.70%2.09%0.00%
EWJ
iShares MSCI Japan ETF		4.33%4.52%2.34%2.03%1.23%2.08%1.04%2.03%1.71%1.25%1.95%1.27%

Drawdowns

GSJY vs. EWJ - Drawdown Comparison

The maximum GSJY drawdown since its inception was -32.53%, smaller than the maximum EWJ drawdown of -60.93%. Use the drawdown chart below to compare losses from any high point for GSJY and EWJ.

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Drawdown Indicators

GSJYEWJDifference

Max Drawdown

Largest peak-to-trough decline

-32.53%

-60.93%

+28.40%

Max Drawdown (1Y)

Largest decline over 1 year

-14.08%

-13.59%

-0.49%

Max Drawdown (5Y)

Largest decline over 5 years

-32.53%

-33.14%

+0.61%

Max Drawdown (10Y)

Largest decline over 10 years

-32.53%

-33.14%

+0.61%

Current Drawdown

Current decline from peak

-10.22%

-10.14%

-0.08%

Average Drawdown

Average peak-to-trough decline

-7.62%

-21.84%

+14.22%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.73%

3.68%

+0.05%

Volatility

GSJY vs. EWJ - Volatility Comparison

Goldman Sachs ActiveBeta Japan Equity ETF (GSJY) and iShares MSCI Japan ETF (EWJ) have volatilities of 9.57% and 9.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GSJYEWJDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.57%

9.41%

+0.16%

Volatility (6M)

Calculated over the trailing 6-month period

14.91%

14.87%

+0.04%

Volatility (1Y)

Calculated over the trailing 1-year period

22.07%

21.87%

+0.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.93%

18.10%

-0.17%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.95%

17.31%

-0.36%