EWJ Stock: iShares MSCI Japan ETF Profile & Analysis (2026)
The iShares MSCI Japan ETF (EWJ) provides broad exposure to large- and mid-cap Japanese equities, serving as a primary benchmark for investors targeting the Japanese stock market. — Updated May 2026 with current AUM, expense ratio, holdings, and performance data.
The iShares MSCI Japan ETF (EWJ) is a cornerstone for international investors looking to gain diversified exposure to the world’s third-largest economy. Managed by BlackRock, this fund tracks the MSCI Japan Index, which covers approximately 85% of the investable equity universe in Japan. While many domestic investors focus on sectors like those found in the XLF Stock Profile, EWJ offers a window into the unique industrial and technological landscape of East Asia.
With a history dating back to 1996, EWJ has become a highly liquid vehicle for trading Japanese large- and mid-cap stocks. Its portfolio is heavily weighted toward industrials and technology, but it also features a significant allocation to financial services. Investors who monitor the complete list of finance companies listed on U.S. exchanges will notice parallels in the stability of Japan’s major banks, such as Mitsubishi UFJ. Furthermore, for those interested in global healthcare trends outside of small cap cancer stocks, EWJ provides exposure to Japan’s mature pharmaceutical and medical equipment giants.
Key Takeaways — EWJ Stock
Tracks 85% of Japan’s investable equity universe across mid and large-cap segments with 179 total holdings.
Strong weightings in Industrials (~24%) and Technology (~20%) provide a balanced growth profile for long-term investors.
Boasts a significant AUM of nearly $20B and high daily trading volume, ensuring easy entry and exit for institutional and retail traders.
Offers a competitive 4.03% dividend yield, making it an attractive option for income-seeking international equity investors.
EWJ — Live Price Chart
Real-time chart from TradingView.
EWJ ETF Vitals & Key Statistics
Core data as of May 2026.
| Data Point | Value | Data Point | Value |
|---|---|---|---|
| Full Name | iShares MSCI Japan ETF | Ticker | EWJ |
| Issuer | BlackRock (iShares) | Asset Class | International Equity – Japan |
| Index Tracked | MSCI Japan Index | Structure | ETF |
| Expense Ratio | 0.49% | AUM | $19.66B |
| Inception Date | March 12, 1996 | Exchange | AMEX |
| No. of Holdings | 179 | Dividend Yield | 4.03% |
| 52-Week High | $94.28 | 52-Week Low | $59.84 |
| Avg Daily Volume | 10.45M | YTD Return | 8.44% |
| 1-Year Return | 29.35% | 5-Year Return | 9.29% |
| Category | Single-Country / Large & Mid Cap | Dividend Frequency | Semi-Annually |
EWJ Top 10 Holdings (May 2026)
Largest positions by weight. Click columns to sort.
| Rank | Ticker | Company Name | Sector | Weight % |
|---|---|---|---|---|
| 1 | 8031 | Mitsubishi UFJ Financial Group | Financial Services | 4.13% |
| 2 | 9984 | SoftBank Group | Technology | 3.71% |
| 3 | 7203 | Toyota Motor | Consumer Discretionary | 3.28% |
| 4 | 8035 | Tokyo Electron | Technology | 3.28% |
| 5 | 6600 | Kioxia Holdings | Technology | 2.96% |
| 6 | 6758 | Sony Group | Consumer Discretionary | 2.50% |
| 7 | 6098 | Recruit Holdings | Industrials | 2.41% |
| 8 | 4063 | Shin-Etsu Chemical | Materials | 2.28% |
| 9 | 6861 | Keyence Corporation | Technology | 2.15% |
| 10 | 8316 | Sumitomo Mitsui Financial Group | Financial Services | 2.10% |
EWJ — Pros & Cons
✓ Market Leading Liquidity
As the most traded Japan-focused ETF in the U.S., it offers extremely tight spreads and reliable execution.
✗ Currency Exposure
The fund is not currency hedged, meaning a weak Yen relative to the USD can drag down returns for U.S. investors.
✓ Comprehensive Coverage
Provides exposure to 179 stocks, capturing the vast majority of the Japanese investable market.
✗ Higher Expense Ratio
At 0.49%, it is more expensive than several newer passively managed competitors like FLJP or BBJP.
✓ Strong Yield
A 4.03% dividend yield is relatively high for a broad-market international ETF.
✗ Large-Cap Bias
Concentration in Japan’s giants may lead to missing out on higher growth potential in the small-cap segment.
Who Should Consider EWJ?
Long-term investors wanting core exposure to Japanese blue-chip companies with high liquidity.
Short-term traders who want to neutralize currency movements or those seeking the absolute lowest expense ratio.
You believe the Yen is bottoming or that corporate governance reforms in Japan will drive equity valuations higher.
Tax-advantaged accounts like IRAs are often preferred to manage international dividend tax implications.
EWJ vs Similar ETFs
Key metrics comparison.
| ETF | Full Name | Expense Ratio | AUM | Holdings | Div Yield | YTD | Best For |
|---|---|---|---|---|---|---|---|
| EWJ ★ | iShares MSCI Japan ETF | 0.49% | $19.66B | 179 | 4.03% | 8.44% | Liquid Core Japan |
| BBJP | JPMorgan BetaBuilders Japan ETF | 0.19% | $6.2B | 181 | 2.50% | 8.51% | Low-Cost MSCI Alternative |
| FLJP | Franklin FTSE Japan ETF | 0.09% | $1.6B | 512 | 2.62% | 8.39% | Cheapest Broad Coverage |
| DXJ | WisdomTree Japan Hedged Equity | 0.48% | $4.1B | 445 | 3.10% | 12.1% | Currency Hedged Gains |
EWJ Technical Analysis
Real-time buy/sell signals.
EWJ — Risks & Considerations
Yen Volatility
Returns are tied to the JPY/USD exchange rate. A weakening Yen can significantly offset gains made in the local stock market.
Demographic Challenges
Japan faces structural long-term risks due to an aging population and a shrinking workforce, which may impact domestic growth.
Global Trade Exposure
Many major holdings are export-oriented and sensitive to global economic slowdowns and trade policy changes.
Geopolitical Risk
Regional tensions in East Asia can lead to increased volatility and sudden sell-offs in the Japanese equity market.