EWJ vs IVV
iShares MSCI Japan ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. EWJ delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | EWJ | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.49% | 0.03% | |
| AUM | $21.6B | $865.2B | |
| Dividend Yield | 3.81% | 1.09% | |
| Holdings | 174 | 508 | |
| YTD Return | +21.73% | +14.50% | |
| 1Y Return | +29.57% | +22.02% | |
| 3Y Return (annualized) | +20.89% | +21.80% | |
| 5Y Return (annualized) | +10.07% | +13.37% | |
| Volatility (annualized) | 17.8% | 15.1% | |
| Max Drawdown | -62.2% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Mar 12, 1996 | May 15, 2000 |
EWJ vs IVV Performance
iShares MSCI Japan ETF (EWJ) is a ETF from iShares by BlackRock (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year EWJ returned +29.57% while IVV returned +22.02%. Year to date, EWJ is up 21.73% versus a gain of 14.50% for IVV.
Over three years, EWJ compounded at +20.89% per year against +21.80% for IVV; over five years the annualized figures are +10.07% and +13.37% respectively. Across the full 26-year window we track, IVV has the edge at +7.07% annualized vs +1.92%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EWJ has been the more volatile fund, with annualized monthly volatility of 17.8% compared with 15.1% for IVV. 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 -62.2% for EWJ and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.66. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EWJ charges 0.49% per year while IVV charges 0.03%. On a $10,000 position that is $49 vs $3 annually, a gap of $46 per year that compounds over a long holding period. On income, EWJ currently yields 3.81% against 1.09% for IVV.
Holdings Overlap
EWJ and IVV share 1 holdings out of 673 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in EWJ | Weight in IVV | Difference |
|---|---|---|---|
| XTSLA | 0.05% | 0.15% | 0.10% |
Frequently Asked Questions
Which is cheaper, EWJ or IVV?
EWJ has an expense ratio of 0.49% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $46 per year of difference.
Which performed better, EWJ or IVV?
Over the past year EWJ returned +29.57% vs +22.02% for IVV, so EWJ leads on 1-year performance. Over the longest common window we track (26 years), EWJ annualized +1.92% vs +7.07% for IVV. Past performance does not guarantee future results.
Which is riskier, EWJ or IVV?
EWJ has been the more volatile fund at 17.8% annualized versus 15.1% for IVV. Worst drawdown: EWJ -62.2% vs IVV -56.5%.
Should I hold both EWJ and IVV?
EWJ and IVV have a monthly-return correlation of 0.66, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EWJ and IVV?
EWJ and IVV share 1 common holdings with a 0.1% weight overlap. Combined, they hold 673 unique securities.
Which pays a higher dividend, EWJ or IVV?
EWJ yields 3.81% while IVV yields 1.09%, so EWJ currently pays the higher dividend yield.
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