When holding the iShares MSCI Japan ETF (EWJ) ETF, how long should you stay invested to have high probability to achieve a positive return?
Over the selected period (~41 years), the longest duration with a negative return was 374 months (from February 1989 to March 2020).
This indicates that, within the same timeframe, any rolling period of 375 months or more has consistently resulted in a positive return.
Understanding this metric is crucial as it highlights the importance of a safe investment horizon. Knowing the minimum duration required to likely see positive returns helps investors set realistic expectations and reinforces the strategy of staying invested through market cycles. This approach can mitigate the emotional reactions to short-term market fluctuations and enhance the likelihood of achieving financial goals.
iShares MSCI Japan ETF (EWJ) ETF: Historical Returns
Previous vs subsequent Returns
Is there a correlation between past and future returns over all 10-year rolling periods?
The following chart illustrates the relationship between past returns (x-axis) and subsequent returns (y-axis).
Data points are aggregated to show occurrences, and you can zoom in by clicking or drawing over the desired area.
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As of Oct 31, 2025, the annualized return of the previous 10 years has been 7.24%.
Rolling Returns
A rolling return is a measure of investment performance that calculates the return of an investment over a set period of time, with the starting date rolling forward. This approach can provide a more accurate representation of the investment's historical performance and helps investors to evaluate the investment's consistency over time.
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Rolling Period Analysis
By selecting the 'Rolling Period', the chart and data will update. To study a different date range, change the simulation settings.
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| Worst | Median | Best | Negative Periods |
|---|---|---|---|
|
-40.40%
Mar 2008 - Feb 2009 |
+6.13% |
+76.80%
Aug 1985 - Jul 1986 |
38.83%
186 out of 479 |
|
-40.41%
Mar 2008 - Feb 2009 |
+3.24% |
+73.89%
Aug 1985 - Jul 1986 |
43.22%
207 out of 479 |
|
-29.00%
Feb 2000 - Jan 2002 |
+3.62% |
+50.06%
Sep 1985 - Aug 1987 |
39.83%
186 out of 467 |
|
-30.70%
Feb 2000 - Jan 2002 |
+1.61% |
+46.17%
May 1985 - Apr 1987 |
45.61%
213 out of 467 |
|
-24.82%
Apr 2000 - Mar 2003 |
+3.49% |
+42.38%
May 1985 - Apr 1988 |
32.53%
148 out of 455 |
|
-26.62%
Apr 2000 - Mar 2003 |
+0.77% |
+38.13%
May 1985 - Apr 1988 |
46.59%
212 out of 455 |
|
-14.70%
Sep 1994 - Aug 1998 |
+3.26% |
+36.81%
Feb 1985 - Jan 1989 |
37.02%
164 out of 443 |
|
-17.67%
Feb 1989 - Jan 1993 |
-0.08% |
+32.20%
Feb 1985 - Jan 1989 |
50.11%
222 out of 443 |
|
-11.19%
Sep 1993 - Aug 1998 |
+1.91% |
+26.96%
Feb 1985 - Jan 1990 |
40.84%
176 out of 431 |
|
-13.31%
Sep 1993 - Aug 1998 |
-0.87% |
+22.29%
Feb 1985 - Jan 1990 |
52.90%
228 out of 431 |
|
-9.25%
Jun 1997 - May 2003 |
+1.95% |
+20.30%
Mar 1985 - Feb 1991 |
33.17%
139 out of 419 |
|
-11.26%
Jun 1997 - May 2003 |
-0.93% |
+15.63%
Mar 1985 - Feb 1991 |
56.09%
235 out of 419 |
|
-9.30%
May 1996 - Apr 2003 |
+2.65% |
+15.58%
Feb 1985 - Jan 1992 |
32.92%
134 out of 407 |
|
-11.35%
May 1996 - Apr 2003 |
-0.10% |
+11.23%
Feb 1985 - Jan 1992 |
50.37%
205 out of 407 |
|
-8.17%
Nov 1994 - Oct 2002 |
+2.18% |
+12.88%
Aug 1985 - Jul 1993 |
36.20%
143 out of 395 |
|
-10.35%
Nov 1994 - Oct 2002 |
-0.48% |
+8.80%
Aug 1985 - Jul 1993 |
51.39%
203 out of 395 |
|
-7.99%
May 1994 - Apr 2003 |
+2.08% |
+13.29%
Mar 1985 - Feb 1994 |
32.38%
124 out of 383 |
|
-10.70%
Oct 1989 - Sep 1998 |
-0.46% |
+9.31%
Mar 1985 - Feb 1994 |
54.31%
208 out of 383 |
|
-6.04%
May 1993 - Apr 2003 |
+2.10% |
+11.15%
Jan 1985 - Dec 1994 |
31.27%
116 out of 371 |
|
-8.50%
Sep 1988 - Aug 1998 |
-0.41% |
+7.30%
Jan 1985 - Dec 1994 |
53.91%
200 out of 371 |
|
-5.66%
Nov 1991 - Oct 2002 |
+1.79% |
+9.27%
May 1985 - Apr 1996 |
31.75%
114 out of 359 |
|
-8.01%
Nov 1991 - Oct 2002 |
-0.46% |
+5.58%
May 1985 - Apr 1996 |
57.10%
205 out of 359 |
|
-5.96%
May 1991 - Apr 2003 |
+1.62% |
+8.92%
Mar 2009 - Feb 2021 |
26.80%
93 out of 347 |
|
-8.32%
May 1991 - Apr 2003 |
-0.57% |
+6.99%
Mar 2009 - Feb 2021 |
56.48%
196 out of 347 |
|
-5.73%
Feb 1989 - Jan 2002 |
+1.71% |
+8.38%
Nov 2012 - Oct 2025 |
27.16%
91 out of 335 |
|
-8.46%
Feb 1989 - Jan 2002 |
-0.66% |
+5.61%
Nov 2012 - Oct 2025 |
56.12%
188 out of 335 |
|
-5.89%
May 1989 - Apr 2003 |
+1.88% |
+7.64%
Nov 2011 - Oct 2025 |
32.20%
104 out of 323 |
|
-8.53%
May 1989 - Apr 2003 |
-0.54% |
+4.92%
Nov 2011 - Oct 2025 |
54.49%
176 out of 323 |
|
-4.99%
May 1988 - Apr 2003 |
+1.49% |
+8.46%
Jan 1985 - Dec 1999 |
31.83%
99 out of 311 |
|
-7.78%
May 1988 - Apr 2003 |
-0.85% |
+5.12%
Jan 1985 - Dec 1999 |
59.49%
185 out of 311 |
|
-3.19%
May 1987 - Apr 2003 |
+1.25% |
+7.15%
Mar 2009 - Feb 2025 |
32.11%
96 out of 299 |
|
-6.09%
May 1987 - Apr 2003 |
-1.25% |
+4.46%
Mar 2009 - Feb 2025 |
65.89%
197 out of 299 |
|
-2.30%
Mar 1992 - Feb 2009 |
+1.04% |
+6.81%
Nov 2008 - Oct 2025 |
28.57%
82 out of 287 |
|
-4.73%
Mar 1992 - Feb 2009 |
-1.33% |
+4.31%
Nov 2008 - Oct 2025 |
66.20%
190 out of 287 |
|
-3.03%
Mar 1991 - Feb 2009 |
+1.45% |
+6.90%
Apr 2003 - Mar 2021 |
23.27%
64 out of 275 |
|
-5.45%
Mar 1991 - Feb 2009 |
-0.94% |
+4.75%
Apr 2003 - Mar 2021 |
66.18%
182 out of 275 |
|
-2.93%
Mar 1990 - Feb 2009 |
+1.36% |
+6.18%
Nov 2002 - Oct 2021 |
22.05%
58 out of 263 |
|
-5.49%
Mar 1990 - Feb 2009 |
-1.11% |
+3.84%
Nov 2002 - Oct 2021 |
61.22%
161 out of 263 |
|
-3.39%
Mar 1989 - Feb 2009 |
+1.55% |
+5.59%
May 2003 - Apr 2023 |
23.11%
58 out of 251 |
|
-6.06%
Mar 1989 - Feb 2009 |
-0.80% |
+3.00%
Feb 2002 - Jan 2022 |
60.96%
153 out of 251 |
|
-0.74%
Feb 1989 - Jan 2014 |
+1.49% |
+4.21%
Sep 1998 - Aug 2023 |
16.75%
32 out of 191 |
|
-3.34%
Feb 1989 - Jan 2014 |
-0.77% |
+1.62%
Sep 1998 - Aug 2023 |
69.63%
133 out of 191 |
|
+0.11%
Jan 1989 - Dec 2018 |
+1.76% |
+3.96%
Mar 1985 - Feb 2015 |
0.00%
0 out of 131 |
|
-2.33%
Jan 1989 - Dec 2018 |
-0.74% |
+1.24%
Mar 1985 - Feb 2015 |
81.68%
107 out of 131 |
iShares MSCI Japan ETF (EWJ) ETF: Historical Returns

