EWJ vs GSJY
iShares MSCI Japan ETF vs Goldman Sachs ActiveBeta Japan Equity ETF
Which is better, EWJ or GSJY?
Nearly the same fund. GSJY costs less.
GSJY has a lower expense ratio. EWJ led over 1Y, 3Y and the full window, GSJY over 5Y. The two have moved almost in lockstep, correlation 0.99. GSJY is less concentrated, with 28.4% of the fund in its ten largest positions against 30.3%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | EWJ | GSJY |
|---|---|---|
| Expense Ratio | 0.49% | 0.25%Best |
| AUM | $22.5B | $95M |
| Dividend Yield | 3.76% | 1.97% |
| Holdings | 346 | 323 |
| YTD Return | +13.88%Best | +13.42% |
| 1Y Return | +14.73%Best | +14.50% |
| 3Y Return (annualized) | +18.50%Best | +18.21% |
| 5Y Return (annualized) | +8.47% | +8.76%Best |
| Volatility (annualized) | 13.6% | 13.2%Best |
| Max Drawdown | -33.2% | -32.6%Best |
| $10,000 over 5 years | $15,016 | $15,218Best |
| Top 10 Weight | 30.3% | 28.4%Best |
| Fund Family | iShares by BlackRock (US) | Goldman Sachs Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Mar 12, 1996 | Mar 2, 2016 |
Volatility and max drawdown are measured over the window both funds cover: Mar 4, 2016 to Nov 11, 2026 (10.7 years).
EWJ vs GSJY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 10.7 years both funds cover.
EWJ vs GSJY Performance
iShares MSCI Japan ETF (EWJ) is an ETF from iShares by BlackRock (US) and Goldman Sachs ActiveBeta Japan Equity ETF (GSJY) is an ETF from Goldman Sachs Asset Management. Over the past year EWJ returned +14.73% while GSJY returned +14.50%. Year to date, EWJ is up 13.88% versus a gain of 13.42% for GSJY.
Over three years, EWJ compounded at +18.50% per year against +18.21% for GSJY; over five years the annualized figures are +8.47% and +8.76% respectively. Across the full 11-year window we track, EWJ has the edge at +7.96% annualized vs +7.67%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EWJ has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 13.2% for GSJY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -33.2% for EWJ and -32.6% for GSJY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
EWJ charges 0.49% per year while GSJY charges 0.25%. On a $10,000 position that is $49 vs $25 annually, a gap of $24 per year that compounds over a long holding period. On income, EWJ currently yields 3.76% against 1.97% for GSJY.
Holdings Overlap
86.0% of EWJ's money is in holdings GSJY also owns. 87.5% of GSJY's money is in holdings EWJ also owns.
Most of GSJY is already inside EWJ. Owning both mostly buys the same companies twice.
141 positions in common, counted across the 168 positions we hold weights for in EWJ and 160 in GSJY, against full books of 346 and 323.
Top Shared Holdings
| Stock | Weight in EWJ | Weight in GSJY | Difference |
|---|---|---|---|
| 6857:JPAdvantest Corp | 3.50% | 3.73% | 0.23% |
| 7203:JPToyota Motor Corp | 3.39% | 2.89% | 0.50% |
| 6501:JPHitachi Ltd | 3.05% | 2.91% | 0.14% |
| 8035:JPTokyo Electron Ltd. Com Stk | 2.96% | 2.89% | 0.07% |
| 6098:JPRecruit Holdings Co. Ltd. Com Stk | 2.88% | 2.85% | 0.03% |
| 8316:JPSumitomo Mitsui Financial Group Inc. Shs | 2.83% | 2.54% | 0.29% |
| 6758:JPSony Group Corp. | 2.66% | 2.44% | 0.22% |
| 8411:JPMizuho Financial Group Inc. Com Stk | 2.24% | 2.16% | 0.08% |
| 9984:JPSoftbank Group Corp | 2.36% | 1.63% | 0.73% |
| 8058:JPMitsubishi Corp | 1.73% | 1.71% | 0.02% |
87.5% of GSJY is already inside EWJ.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, EWJ or GSJY?
EWJ has an expense ratio of 0.49% while GSJY charges 0.25%. GSJY is the cheaper option, by $24 a year on a $10,000 investment.
Which performed better, EWJ or GSJY?
Over the past year EWJ returned +14.73% vs +14.50% for GSJY, so EWJ leads on 1-year performance. Over the longest common window we track (11 years), EWJ annualized +7.96% vs +7.67% for GSJY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EWJ or GSJY?
EWJ has been the more volatile fund at 13.6% annualized versus 13.2% for GSJY. Worst drawdown: EWJ -33.2% vs GSJY -32.6%.
Should I hold both EWJ and GSJY?
EWJ and GSJY have a monthly-return correlation of 0.99, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between EWJ and GSJY?
87.5% of GSJY's money is in holdings EWJ also owns. 87.5% of GSJY's is in holdings EWJ also owns. They hold 141 positions in common, counted across the 168 positions we hold weights for in EWJ and 160 in GSJY.
Which pays a higher dividend, EWJ or GSJY?
EWJ yields 3.76% while GSJY yields 1.97%, so EWJ currently pays the higher dividend yield.
Is GSJY better than EWJ?
GSJY has a lower expense ratio. EWJ led over 1Y, 3Y and the full window, GSJY over 5Y. The two have moved almost in lockstep, correlation 0.99. GSJY is less concentrated, with 28.4% of the fund in its ten largest positions against 30.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.