Data as of Oct 28, 2026.
ACWX vs EWJ: Differences, Returns & Fees
Over the year to Oct 28, 2026, ACWX returned +14.3% to EWJ's +18.1%; 14% of their weight is in the same names.
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Net assets: $17.9bn on Oct 27, 2026 for iShares MSCI ACWI ex U.S. ETF, and $23.9bn on Oct 28, 2026 for iShares MSCI Japan ETF.
Pair scorecard
ACWX costs 0.17 points a year less; their one-year returns differ by 3.8 points; EWJ is 1.3 times larger.
| Measure | ACWX | EWJ |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.3% | +18.1% |
| Drawdown | ||
| Below its high | 4.9%, high on Sep 4, 2026 | 4.4%, high on Oct 6, 2026 |
| Benchmark | ||
| What it tracks | MSCI ACWI ex USA Index | MSCI Japan Index |
| Cost and size | ||
| Expense ratio | 0.32% | 0.49% |
| Net assets, as of Oct 27, 2026 | $17.9bn | $23.8bn |
| Holdings | ||
| Holdings in common | 14% | |
| Top ten holdings, share of the fund | 15.6% | 29.5% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Apr 11, 2008 to Oct 23, 2026 · 967 weekly returnsEWJ returned more: +160.2% to +129.8%. EWJ swung slightly less: 18.3% to 19.8%. EWJ fell less at its worst: −47.0% to −59.4%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ACWX | EWJ | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +129.8% | +160.2% | EWJ | Price change plus distributions, reinvested. |
| Annualized | +4.6% | +5.3% | EWJ | Total return as a yearly rate. |
| Price return | +42.8% | +87.7% | EWJ | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 19.8% | 18.3% | EWJ (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 14.4% | 13.2% | EWJ (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −59.4% | −47.0% | EWJ | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.25 | 0.29 | EWJ | Return above Treasury bills per unit of volatility. |
| Sortino | 0.35 | 0.41 | EWJ | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.08 | 0.11 | EWJ | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 967 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, ACWX and EWJ hold 14% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
14% in common
Only in one fund ↓
Side by side
ACWX and EWJ on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
ACWX and EWJ do different jobs. What does each one do in a portfolio?
- What each follows. ACWX follows MSCI ACWI ex USA Index and EWJ follows MSCI Japan Index.
- Holdings in common. 14% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 ACWX returned +14.3% and EWJ +18.1% with distributions reinvested, a gap of 3.8 points.
Data as of Oct 28, 2026.
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ACWX
ACWX tracks the MSCI ACWI ex U.S.. Over the year to Oct 28, 2026 it returned +14.3% with distributions reinvested. The prospectus expense ratio is 0.32% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 1,939 positions, with the top ten at 15.6%. It sat 4.9% below its high of Sep 4, 2026 on Oct 28, 2026.
EWJ
EWJ tracks the MSCI Japan. Over the year to Oct 28, 2026 it returned +18.1% with distributions reinvested, against +14.3% for its benchmark, the MSCI ACWI ex USA Index. The prospectus expense ratio is 0.49% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 169 positions, with the top ten at 29.5%. It sat 4.4% below its high of Oct 6, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, ACWX or EWJ?
- In the year to Oct 28, 2026, with distributions reinvested, ACWX returned +14.3% and EWJ +18.1%.
- Which is cheaper, ACWX or EWJ?
- ACWX is cheaper, by 0.17 percentage points a year. That is about $17 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, ACWX against EWJ, data as of Oct 28, 2026. https://etfiq.com/compare/any/acwx-vs-ewj
ETFIQ. (Oct 28, 2026). ACWX against EWJ. Retrieved from https://etfiq.com/compare/any/acwx-vs-ewj
[ACWX against EWJ (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/acwx-vs-ewj)
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