Overview
The largest and most liquid Japan equity ETF. Tracks MSCI Japan Index covering 200+ large and mid-cap Japanese companies. Corporate governance reform is driving record buybacks and profitability improvements.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| 7203 | Toyota Motor Corp. | 5.8% |
| 6861 | Keyence Corporation | 4.4% |
| 8306 | Mitsubishi UFJ | 3.8% |
| 9984 | SoftBank Group | 3.4% |
| 6758 | Sony Group Corp. | 3.2% |
| 6954 | Fanuc Corporation | 2.9% |
| 4063 | Shin-Etsu Chemical | 2.7% |
| 9432 | Nippon Telegraph | 2.5% |
| 8316 | Sumitomo Mitsui | 2.3% |
| 6367 | Daikin Industries | 2.1% |
Fund Details
Investment Thesis
Japan's equity market is undergoing a structural transformation driven by the Tokyo Stock Exchange's corporate governance reform requiring companies trading below book value to improve shareholder returns. The result has been record share buybacks, dividend increases, and activist investor success stories across the Nikkei. Warren Buffett's high-profile investments in Japanese trading houses validated the value thesis. The weakening yen has simultaneously boosted the competitiveness of Japanese exporters and the attractiveness of Japanese equities for USD-based investors in JPY terms.
Who It's For
International investors seeking developed Asian equity exposure with corporate governance reform upside and value characteristics. EWJ suits those with a positive view on Japanese corporate restructuring, potential yen normalization, and the Nikkei's continued recovery toward and beyond historical highs. The fund provides access to world-class manufacturing, robotics, precision instruments, and financial companies at valuations still below many global peers.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $48.42 | -- |
| 2017 | $58.42 | +20.7% |
| 2018 | $52.18 | -10.7% |
| 2019 | $58.18 | +11.5% |
| 2020 | $62.42 | +7.3% |
| 2021 | $68.42 | +9.6% |
| 2022 | $58.18 | -14.9% |
| 2023 | $66.42 | +14.2% |
| 2024 | $68.18 | +2.6% |
| 2025 | $76.50 | +12.2% |
| Year | Yield |
|---|---|
| 2016 | 1.92% |
| 2017 | 1.72% |
| 2018 | 1.98% |
| 2019 | 1.78% |
| 2020 | 1.52% |
| 2021 | 1.32% |
| 2022 | 1.78% |
| 2023 | 1.58% |
| 2024 | 1.72% |
| 2025 | 1.88% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $14B | -- |
| 2017 | $18B | +28.6% |
| 2018 | $14B | -22.2% |
| 2019 | $14B | 0.0% |
| 2020 | $14B | 0.0% |
| 2021 | $16B | +14.3% |
| 2022 | $12B | -25.0% |
| 2023 | $14B | +16.7% |
| 2024 | $12B | -14.3% |
| 2025 | $12.8B | +6.7% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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