GSJY vs. EWJV

Last updated Jun 24, 2026

GSJY (Goldman Sachs ActiveBeta Japan Equity ETF) and EWJV (iShares MSCI Japan Value ETF) are both Japan Equities funds - GSJY tracks the Goldman Sachs ActiveBeta Japan Equity Index while EWJV tracks the MSCI Japan Value Index. Both are passively managed. Over the past 5 years, GSJY returned 8.87%/yr vs 13.50%/yr for EWJV. Their correlation of 0.87 suggests significant overlap in exposure. GSJY charges 0.25%/yr vs 0.15%/yr for EWJV.

Performance

GSJY vs. EWJV - 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 Value ETF (EWJV). 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 GSJY having a 12.58% return and EWJV slightly lower at 12.37%.

GSJY

• 1D: -3.94%
• 1M: 1.06%
• YTD: 12.58%
• 6M: 11.90%
• 1Y: 31.84%
• 3Y*: 18.03%
• 5Y*: 8.87%
• 10Y*: 9.36%

EWJV

• 1D: -3.02%
• 1M: -1.22%
• YTD: 12.37%
• 6M: 11.97%
• 1Y: 37.31%
• 3Y*: 22.92%
• 5Y*: 13.50%
• 10Y*: —

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

GSJY vs. EWJV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GSJY Goldman Sachs ActiveBeta Japan Equity ETF	12.58%	26.22%	8.89%	19.18%	-16.15%	0.41%	13.81%	11.49%
EWJV iShares MSCI Japan Value ETF	12.37%	33.96%	11.59%	23.60%	-6.02%	5.48%	2.41%	9.40%

Correlation

The correlation between GSJY and EWJV is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Mar 7, 2019	0.87

The correlation between GSJY and EWJV has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.

GSJY vs. EWJV - Sectors Allocation Comparison

Sectors	GSJY	EWJV
Industrials	24.9%	22.7%
Technology	20.2%	7.7%
Financial Services	18.1%	30.1%
Consumer Cyclical	12.7%	14.0%
Communication Services	6.4%	9.1%
Healthcare	4.9%	2.8%
Basic Materials	3.7%	3.3%
Energy	3.4%	1.8%
Consumer Defensive	3.1%	3.9%
Utilities	1.5%	1.5%
Real Estate	1.2%	3.2%

Return for Risk

GSJY vs. EWJV — Risk / Return Rank

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

GSJY

GSJY Risk / Return Rank: 48
GSJY Sharpe Ratio Rank: 48
GSJY Sortino Ratio Rank: 48
GSJY Omega Ratio Rank: 49
GSJY Calmar Ratio Rank: 49
GSJY Martin Ratio Rank: 47

EWJV

EWJV Risk / Return Rank: 56
EWJV Sharpe Ratio Rank: 59
EWJV Sortino Ratio Rank: 59
EWJV Omega Ratio Rank: 60
EWJV Calmar Ratio Rank: 54
EWJV Martin Ratio Rank: 47

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. EWJV - 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 Value ETF (EWJV). 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.

	GSJY	EWJV	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.90	-0.34
Sortino ratio: Return per unit of downside risk	2.21	2.67	-0.46
Omega ratio: Gain probability vs. loss probability	1.29	1.35	-0.06
Calmar ratio: Return relative to maximum drawdown	2.27	2.54	-0.27
Martin ratio: Return relative to average drawdown	7.44	7.55	-0.11

GSJY vs. EWJV - Sharpe Ratio Comparison

The current GSJY Sharpe Ratio is 1.57, which is comparable to the EWJV Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of GSJY and EWJV, 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

GSJY vs. EWJV - Drawdown Comparison

The maximum GSJY drawdown since its inception was -32.53%, which is greater than EWJV's maximum drawdown of -30.05%. Use the drawdown chart below to compare losses from any high point for GSJY and EWJV.

Drawdown Indicators

	GSJY	EWJV	Difference
Max Drawdown Largest peak-to-trough decline	-32.53%	-30.05%	-2.48%
Max Drawdown (1Y) Largest decline over 1 year	-14.08%	-14.74%	+0.66%
Max Drawdown (3Y) Largest decline over 3 years	-14.96%	-14.74%	-0.22%
Max Drawdown (5Y) Largest decline over 5 years	-32.53%	-25.39%	-7.14%
Max Drawdown (10Y) Largest decline over 10 years	-32.53%	—	—
Current Drawdown Current decline from peak	-3.94%	-6.17%	+2.23%
Average Drawdown Average peak-to-trough decline	-7.56%	-6.18%	-1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	4.96%	-0.67%

Volatility

GSJY vs. EWJV - Volatility Comparison

Goldman Sachs ActiveBeta Japan Equity ETF (GSJY) has a higher volatility of 7.37% compared to iShares MSCI Japan Value ETF (EWJV) at 5.81%. This indicates that GSJY's price experiences larger fluctuations and is considered to be riskier than EWJV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSJY	EWJV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.37%	5.81%	+1.56%
Volatility (6M) Calculated over the trailing 6-month period	16.53%	15.22%	+1.31%
Volatility (1Y) Calculated over the trailing 1-year period	20.44%	19.70%	+0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.29%	18.07%	+0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.10%	18.57%	-1.47%

GSJY vs. EWJV - Expense Ratio Comparison

GSJY has a 0.25% expense ratio, which is higher than EWJV's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

GSJY vs. EWJV - Dividend Comparison

GSJY's dividend yield for the trailing twelve months is around 1.76%, less than EWJV's 5.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EWJV iShares MSCI Japan Value ETF	5.06%	5.35%	4.10%	3.32%	2.71%	2.46%	1.96%	4.29%	0.00%	0.00%	0.00%
GSJY Goldman Sachs ActiveBeta Japan Equity ETF	1.76%	1.99%	1.64%	2.11%	2.13%	1.73%	1.22%	2.79%	3.28%	1.70%	2.09%

Frequently Asked Questions

Can I hold both GSJY and EWJV in my portfolio?

With a correlation of 0.92, GSJY and EWJV 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.

Which is riskier, GSJY or EWJV?

GSJY has higher volatility (7.37%) compared to EWJV (5.81%). In terms of maximum drawdown, GSJY dropped -32.53% vs EWJV's -30.05%.

Which ETF is better, GSJY or EWJV?

On 5-year performance, EWJV leads with 13.50% vs 8.87% for GSJY. On fees, EWJV is cheaper at 0.15% per year. On volatility, EWJV has been the lower-risk option at 5.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSJY or EWJV?

Over the 5-year period, EWJV has performed better with a 13.50% return vs 8.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSJY or EWJV?

EWJV is cheaper with a 0.15% expense ratio, compared with 0.25% for GSJY.

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

EWJV has the higher dividend yield at 5.06%, compared with 1.76% for GSJY.

What is the main difference between GSJY and EWJV?

GSJY tracks Goldman Sachs ActiveBeta Japan Equity Index, while EWJV tracks MSCI Japan Value Index. They also come from different issuers: Goldman Sachs and iShares. Their fees differ too: 0.25% for GSJY and 0.15% for EWJV.

Which has better risk-adjusted returns?

EWJV currently has the higher Sharpe Ratio (1.90 vs 1.57), 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.