What is the expense ratio of EWJ vs EWZ?

EWJ has an expense ratio of 0.49%, while EWZ has an expense ratio of 0.59%.

EWJ vs EWZ

iShares MSCI Japan ETF vs iShares MSCI Brazil ETF

Last updated: 2026-04-10

EWJ iShares

iShares MSCI Japan ETF (EWJ) is an exchange-traded fund issued by iShares that provides exposure to japan equity securities. It charges an above-average expense ratio of 0.49%. The fund offers a high dividend yield of 4.14%. Launched in 1996, the fund has a 30-year track record.

AUM: $19.7B ER: 0.49% Yield: 4.14% Since: Mar 12, 1996

EWZ iShares

iShares MSCI Brazil ETF (EWZ) is an exchange-traded fund issued by iShares that provides exposure to brazil equity securities. It charges a high expense ratio of 0.59%. The fund offers a high dividend yield of 4.02%. Launched in 2000, the fund has a 26-year track record.

AUM: $10.2B ER: 0.59% Yield: 4.02% Since: Jul 10, 2000

Quick Verdict

EWJ is significantly cheaper at 0.49% vs 0.59% expense ratio, saving you approximately $191 per $10,000 invested over 10 years. Over the past year, EWZ has significantly outperformed with a 69.6% return vs 37.0%.

Key Metrics

Metric	EWJ	EWZ
Expense Ratio	0.49%	0.59%
Dividend Yield	4.1%	4.0%
Fund Family	iShares	iShares
Category	Japan Equity	Brazil Equity

Performance Chart

Indexed to 100 at start (5-year comparison)

EWJ +27.1%

EWZ +22.4%

Performance Comparison

Period	EWJ	EWZ	Difference
1 Month	+2.66%	+9.11%	-6.45%
3 Months	+3.19%	+24.61%	-21.42%
6 Months	+11.00%	+40.63%	-29.63%
YTD	+8.21%	+27.44%	-19.23%
1 Year	+37.04%	+69.64%	-32.60%
3 Years	+52.06%	+42.48%	+9.58%
5 Years	+27.11%	+22.42%	+4.69%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment	Period	EWJ Fees	EWZ Fees	You Save
$10,000	10 years	$960	$1,151	$191
$10,000	20 years	$4,052	$4,837	$785
$10,000	30 years	$12,832	$15,249	$2,417
$50,000	10 years	$4,799	$5,754	$955
$50,000	30 years	$64,162	$76,247	$12,085
$100,000	30 years	$128,324	$152,494	$24,171

Risk Metrics

Based on 5 years of daily returns

Metric	EWJ	EWZ
Annualized Volatility	18.4%	28.5%
Max Drawdown	-34.6%	-46.6%
Sharpe Ratio	0.11	0.13

Dividend Comparison

Metric	EWJ	EWZ
Annual Dividend (per share)	$3.65	$1.65
Dividend Yield	4.15%	4.02%
Distribution Frequency	Semi-Annual or Annual	Quarterly

Top Holdings

0 of top 9 holdings overlap (0% overlap in top holdings)

EWJ Top Holdings

Name	Weight
Mitsubishi UFJ Financial Group, Inc.!tyo/8306	4.13%
Toyota Motor Corporation!tyo/7203	4.07%
Hitachi, Ltd.!tyo/6501	2.86%
Sony Group Corporation!tyo/6758	2.65%
Sumitomo Mitsui Financial Group, Inc.!tyo/8316	2.62%
Advantest Corporation!tyo/6857	2.45%
Tokyo Electron Limited!tyo/8035	2.41%
Mitsubishi Corporation!tyo/8058	2.23%
Mizuho Financial Group, Inc.!tyo/8411	2.20%
Mitsui & Co., Ltd.!tyo/8031	2.00%

EWZ Top Holdings

Name	Weight
Vale S.A.!bvmf/VALE3	10.64%
Nu Holdings Ltd.NU	8.72%
Itaú Unibanco Holding S.A.!bvmf/ITUB4	8.53%
Petróleo Brasileiro S.A. - Petrobras!bvmf/PETR3	6.57%
B3 S.A. - Brasil, Bolsa, Balcão!bvmf/B3SA3	3.63%
Banco Bradesco S.A.!bvmf/BBDC4	3.40%
WEG S.A.!bvmf/WEGE3	3.26%
Companhia de Saneamento Básico do Estado de São Paulo - SABESP!bvmf/SBSP3	2.95%
AXIA Energia SA!bvmf/AXIA3	2.79%

Which One Should You Choose?

Choose EWJ if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Choose EWZ if...

recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.

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