Data as of Oct 28, 2026.
EWJ vs EWZ: Differences, Returns & Fees
Over the year to Oct 28, 2026, EWJ returned +18.1% to EWZ's +13.7%; 0% of their weight is in the same names.
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Net assets on Oct 28, 2026: $23.9bn for iShares MSCI Japan ETF and $10.3bn for iShares MSCI Brazil ETF.
Pair scorecard
EWJ costs 0.10 points a year less; their one-year returns differ by 4.4 points; EWJ is 2.3 times larger.
| Measure | EWJ | EWZ |
|---|---|---|
| Return | ||
| Total return, 1 year | +18.1% | +13.7% |
| Drawdown | ||
| Below its high | 4.4%, high on Oct 6, 2026 | 25.4%, high on May 20, 2008 |
| Benchmark | ||
| What it tracks | MSCI Japan Index | MSCI Brazil 25/50 Index |
| Cost and size | ||
| Expense ratio | 0.49% | 0.59% |
| Net assets | $23.9bn | $10.3bn |
| Holdings | ||
| Holdings in common | 0% | |
| Top ten holdings, share of the fund | 29.5% | 57.5% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Jul 21, 2000 to Oct 23, 2026 · 1,370 weekly returnsEWZ returned more: +465.4% to +146.8%. EWJ swung less: 19.0% to 34.7%. EWJ fell less at its worst: −55.6% to −76.1%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | EWJ | EWZ | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +146.8% | +465.4% | EWZ | Price change plus distributions, reinvested. |
| Annualized | +3.5% | +6.8% | EWZ | Total return as a yearly rate. |
| Price return | +68.0% | +113.0% | EWZ | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 19.0% | 34.7% | EWJ | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.5% | 24.1% | EWJ | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −55.6% | −76.1% | EWJ | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.18 | 0.31 | EWZ | Return above Treasury bills per unit of volatility. |
| Sortino | 0.26 | 0.45 | EWZ | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.06 | 0.09 | EWZ | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,370 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, EWJ and EWZ hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
EWJ and EWZ on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
EWJ and EWZ do different jobs. What does each one do in a portfolio?
- What each follows. EWJ follows MSCI Japan Index and EWZ follows MSCI Brazil 25/50 Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 EWJ returned +18.1% and EWZ +13.7% with distributions reinvested, a gap of 4.4 points.
Data as of Oct 28, 2026.
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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.
EWZ
EWZ tracks the MSCI Brazil. Over the year to Oct 28, 2026 it returned +13.7% with distributions reinvested. The prospectus expense ratio is 0.59% 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 59 positions, with the top ten at 57.5%. It sat 25.4% below its high of May 20, 2008 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, EWJ or EWZ?
- In the year to Oct 28, 2026, with distributions reinvested, EWJ returned +18.1% and EWZ +13.7%.
- Which is cheaper, EWJ or EWZ?
- EWJ is cheaper, by 0.10 percentage points a year. That is about $10 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, EWJ against EWZ, data as of Oct 28, 2026. https://etfiq.com/compare/any/ewj-vs-ewz
ETFIQ. (Oct 28, 2026). EWJ against EWZ. Retrieved from https://etfiq.com/compare/any/ewj-vs-ewz
[EWJ against EWZ (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/ewj-vs-ewz)
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