iShares MSCI Japan ETF
EWJ InternationalUpdated: Jul 4, 2026, 21:17 UTC
Key Metrics
Top 10 Holdings
| Holding | Ticker | Weight | Bar |
|---|---|---|---|
| Mitsubishi UFJ Financial Group Inc | 8306.T | 3.91% | |
| Toyota Motor Corp | 7203.T | 3.52% | |
| SoftBank Group Corp | 9984.T | 3.4% | |
| Tokyo Electron Ltd | 8035.T | 2.87% | |
| Hitachi Ltd | 6501.T | 2.79% | |
| Sumitomo Mitsui Financial Group Inc | 8316.T | 2.59% | |
| Kioxia Holdings Corp Ordinary Shares | 285A.T | 2.54% | |
| Sony Group Corp | 6758.T | 2.46% | |
| Advantest Corp | 6857.T | 2.34% | |
| Mizuho Financial Group Inc | 8411.T | 2.08% |
Sector Allocation
About This ETF
The iShares MSCI Japan ETF (EWJ) is a International ETF with an expense ratio (TER) of 0.49% and $21.3B in assets under management., with its largest holdings being Mitsubishi UFJ Financial Group Inc, Toyota Motor Corp, SoftBank Group Corp. The ETF currently yields 3.92% in dividends. Year-to-date, EWJ has returned +15.14%.
The fund generally will invest at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially identical to the component securities of its underlying index. The underlying index is designed to measure the performance of the large- and mid-capitalization segments of the Japanese equity market.
FAQ — EWJ
What is the TER of EWJ (iShares MSCI Japan ETF)?
EWJ has a Total Expense Ratio (TER) of 0.49 % per year. That sits above the international category median (0.32 % across 13 peer ETFs). The TER is deducted directly from the fund and lowers your effective return.
What return has EWJ delivered?
Performance for EWJ: YTD: +15.14 % · 3-year p.a.: +17.86 % · 5-year p.a.: +9.10 %. Over 5 years, EWJ outperforms the international category median of +8.50 % by +0.60 pp. Past performance is no guarantee of future returns.
What are the top holdings of EWJ?
The five largest positions in EWJ are: 8306.T, 7203.T, 9984.T, 8035.T, 6501.T. The full holdings list is updated daily on this page.
Does EWJ pay dividends?
EWJ has a current dividend yield of 3.92 %. Distributing ETFs pay this out in cash; accumulating versions reinvest it inside the fund. Check the share class on your broker before buying.
Where can I buy or set up a savings plan for EWJ?
EWJ is available at most major brokers. For a free monthly savings plan from €1, look at Trade Republic, Scalable Capital or Flatex. The broker comparison on this site shows fees, free-savings-plan ETFs and execution exchanges side by side.
What Is the iShares MSCI Japan ETF (EWJ)?
The iShares MSCI Japan ETF (EWJ) packages large- and mid-cap Japanese stocks into a single security, giving investors targeted access to one of the largest developed equity markets outside the United States. With $21.0B in assets and a 0.49% expense ratio, it tracks heavyweights such as Mitsubishi UFJ Financial Group, Toyota Motor and Hitachi. For euro-area investors, EWJ serves as a building block for geographic diversification beyond Europe and North America.
Performance at a Glance
EWJ shows a solid recent record: year to date the fund stands at 13.98%, its three-year annualized return is roughly 18.76%, and over five years it is about 8.83%. The dividend yield is 4.08%. Results have been driven by Japan’s industry-heavy structure — industrials make up 25.97%, followed by technology at 19.08% and financial services at 17.51%.
The price trades at $92.7, close to its 52-week high of $94.28 and well above the low of $71.09. Drivers have included corporate governance reforms, a weak-yen phase and strength among semiconductor-equipment suppliers like Advantest and Tokyo Electron. Past returns are no guarantee of future results.
Risk Profile
EWJ is a concentrated single-market fund and therefore less broadly diversified than global products. Several risks deserve attention:
- Currency risk: The fund is priced in US dollars while holding Japanese yen assets. Euro-area investors thus carry two exchange-rate risks — USD/EUR and JPY — which can amplify or erode returns.
- Concentration risk: Industrials, technology and financials together exceed 62%; a downturn in these areas would hit the fund disproportionately.
- Country risk: Demographics, Bank of Japan monetary policy and export dependence strongly shape performance.
With the price near its 52-week high, downside potential should not be underestimated either.
Who Is EWJ For?
EWJ suits investors who want to deliberately add Japanese equity exposure to a globally oriented portfolio and who bring a long horizon of at least seven to ten years. Those who believe in Japan’s corporate reforms, its industrial and semiconductor strength, and who can ride out currency swings will find a focused instrument here with an attractive 4.08% dividend yield.
The fund is less suitable for beginners seeking a single, broadly diversified world building block — global ETFs serve that purpose better. Likewise, anyone unwilling to carry added USD and yen currency risk, or with a short horizon, should be cautious. EWJ is a satellite position, not a core holding.
How EWJ Compares
As a single-country fund, EWJ sits alongside broader developed-market and world-ex-US products:
- VEA (Vanguard FTSE Developed Markets): covers all developed markets outside the US — Japan is just one slice of many. Cheaper and broader, but with no pure Japan focus.
- IEFA (iShares Core MSCI EAFE): Europe, Australasia and the Far East in one security; more diversification and lower single-market risk.
- VXUS (Vanguard Total International Stock): combines developed and emerging markets worldwide — the broadest alternative.
At 0.49%, EWJ is pricier than these broad index funds. Its value lies solely in the targeted, undiluted Japan allocation.
Where can I buy EWJ?
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