Is EWJ a good investment?

iShares MSCI Japan ETF (EWJ) is a Japan-focused ETF. As of September 11, 2026, ETF Copilot scores EWJ 3.2 out of 10 — highest on Return (4.6), lowest on Valuation (0.4). It trades at 18.1 times earnings, against its own median of 11.2. Its ten largest holdings are 30% of the fund.

Updated September 11, 2026

How is EWJ rated? ETF Copilot scores iShares MSCI Japan ETF (EWJ) 3.2 out of 10

As of September 11, 2026, ETF Copilot scores iShares MSCI Japan ETF (EWJ) 3.2 out of 10 overall.

ETF Copilot scores (0–10 scale, higher is better):

Overall: 3.2 / 10
Growth: 3.3 / 10
Valuation: 0.4 / 10
Risk: 3.8 / 10
Quality: 3.3 / 10
Return: 4.6 / 10

What is EWJ's expense ratio? 0.49% a year

As of September 11, 2026, EWJ charges 0.49% a year, yields 1.99% and holds $23.5B in assets across 171 positions.

iShares MSCI Japan ETF (EWJ) — cost, income and size
Measure	EWJ
Expense ratio	0.49%
Dividend yield	1.99%
Assets under management	$23.5B
Holdings	171

Expense ratio, dividend yield and assets under management are reported by the fund and refreshed daily. Every other figure on this page is computed by ETF Copilot.

What stands out in EWJ's data

Japanese large- and mid-cap stocks, covering the country's biggest listed companies.

Priced among the most expensive Japanese equity funds — you pay more for each unit of earnings.

Its trailing EBITDA multiple of 11.9x is above the category median of 10.6x and its own 8.6x three-year median, while return on equity of 13.0% trails the typical peer.

A broad Japan allocation that adds developed-market exposure outside the U.S.

Why did EWJ move this week? It rose 0.7% in the week to September 11, 2026 — Softbank and Kioxia drove it

EWJ rose 0.7% in the week to September 11, 2026. The holdings that moved it most were Softbank (+33.0%), Kioxia (+6.3%) and Murata MFG (+8.3%); Sony (−5.2%) pushed the other way.

Is EWJ expensive right now? It trades at 18.1 times earnings, against its own median of 11.2

As of September 11, 2026, EWJ is more expensive than 96% of its own 114 monthly readings since 2017 — 110 of those months were cheaper than today.

Trailing twelve-month, computed by ETF Copilot from the fund's holdings rather than quoted from a data provider, and rebuilt nightly.

What's inside EWJ? 27% Tech

What's inside EWJ: Size (Large 70%, Mid 27%, Small 3%); Geography (International 100%, US 0%); Tech 26.9%; AI 0.9%; Semiconductors 8.1%; Memory 6.7%.

What are EWJ's top holdings? The ten largest are 30% of the fund

Mitsubishi UFJ Financial, Toyota Motor, Softbank, Sumitomo Mitsui Financial, Advantest, Tokyo Electron, Hitachi, Kioxia, Sony and Recruit are EWJ's largest holdings, in that order.

More concentrated than 77% of Japan ETFs.

Half of EWJ's weight sits in its 23 largest positions, and once those weights are taken into account it behaves like 66 equally weighted holdings.

Cite this

ETF Copilot, “iShares MSCI Japan ETF (EWJ) scores and holdings analysis”, as of September 11, 2026.
https://etf-copilot.com/etf/ewj