Data as of Oct 28, 2026.
EWJ vs IWD: Differences, Returns & Fees
Over the year to Oct 28, 2026, EWJ returned +18.1% to IWD's +27.5%; 0% of their weight is in the same names.
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Net assets: $23.9bn on Oct 28, 2026 for iShares MSCI Japan ETF, and $83.0bn on Oct 27, 2026 for iShares Russell 1000 Value ETF.
Pair scorecard
IWD costs 0.31 points a year less; their one-year returns differ by 9.4 points; IWD is 3.5 times larger.
| Measure | EWJ | IWD |
|---|---|---|
| Return | ||
| Total return, 1 year | +18.1% | +27.5% |
| Drawdown | ||
| Below its high | 4.4%, high on Oct 6, 2026 | |
| Benchmark | ||
| What it tracks | MSCI Japan Index | Russell 1000 Value Index |
| Cost and size | ||
| Expense ratio | 0.49% | 0.18% |
| Net assets, as of Oct 27, 2026 | $23.8bn | $83.0bn |
| Holdings | ||
| Holdings in common | 0% | |
| Top ten holdings, share of the fund | 29.5% | 29.6% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Jun 2, 2000 to Oct 23, 2026 · 1,377 weekly returnsEach against its own benchmark: EWJ against ACWX, Apr 11, 2008 to Oct 23, 2026; IWD against VONV, Oct 1, 2010 to Oct 23, 2026.
IWD returned more: +688.9% to +130.3%. IWD swung slightly less: 17.8% to 19.0%. EWJ fell slightly less at its worst: −57.6% to −59.8%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | EWJ | IWD | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +130.3% | +688.9% | IWD | Price change plus distributions, reinvested. |
| Annualized | +3.2% | +8.1% | IWD | Total return as a yearly rate. |
| Price return | +56.8% | +343.1% | IWD | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 19.0% | 17.8% | IWD (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.6% | 12.7% | IWD (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −57.6% | −59.8% | EWJ (slight) | Deepest fall from a high to the low after it. |
| Upside capture | 75.1% | 100.0% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 87.1% | 100.2% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.76 | 1.00 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.67 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.17 | 0.43 | IWD | Return above Treasury bills per unit of volatility. |
| Sortino | 0.24 | 0.60 | IWD | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.071 | 0.110 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.06 | 0.14 | IWD | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | ACWX | VONV | The ETF each fund is measured against. | |
| Alpha | +1.6% a year | −0.1% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.65 | −0.23 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −3.2% to +6.4% | −0.6% to +0.5% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | 0.03 | −0.08 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 11.6% | 1.1% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,377 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, EWJ and IWD 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 IWD on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
EWJ and IWD do different jobs. What does each one do in a portfolio?
- What each follows. EWJ follows MSCI Japan Index and IWD follows Russell 1000 Value 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 IWD +27.5% with distributions reinvested, a gap of 9.4 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.
IWD
IWD tracks the Russell 1000 value. Over the year to Oct 28, 2026 it returned +27.5% with distributions reinvested, against +27.7% for its benchmark, the Russell 1000 Value Index. The prospectus expense ratio is 0.18% a year. By its holdings published by its issuer for Oct 27, 2026, 90% of the fund by weight is stocks the S&P 500 also holds, across 871 positions, with the top ten at 29.6%.
Questions people ask
- Which returned more over the last year, EWJ or IWD?
- In the year to Oct 28, 2026, with distributions reinvested, EWJ returned +18.1% and IWD +27.5%.
- Which is cheaper, EWJ or IWD?
- IWD is cheaper, by 0.31 percentage points a year. That is about $31 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 IWD, data as of Oct 28, 2026. https://etfiq.com/compare/any/ewj-vs-iwd
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