iShares MSCI Japan ETF (EWJ): Historical Returns

Data Source: from January 1985 to February 2024 (~39 years)
Consolidated Returns as of 29 February 2024
Live Update: Mar 01 2024
Category: Stocks
iShares MSCI Japan ETF (EWJ) ETF
ETF • LIVE PERFORMANCE (USD currency)
1.75%
1 Day
Mar 01 2024
1.75%
Current Month
March 2024

In the last 30 Years, the iShares MSCI Japan ETF (EWJ) ETF obtained a 1.76% compound annual return, with a 17.71% standard deviation.

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The ETF is related to the following investment themes:

  • Asset Class: Equity
  • Size: Large Cap
  • Style: Blend
  • Region: Developed Asia Pacific
  • Country: Japan

The iShares MSCI Japan ETF (EWJ) ETF is part of the following Lazy Portfolios:

Portfolio Name Author EWJ Weight Currency
Dedalo Eleven Dedalo Invest 4.00% USD

Investment Returns as of Feb 29, 2024

The iShares MSCI Japan ETF (EWJ) ETF guaranteed the following returns.

Returns are calculated in USD, assuming:
  • no fees or capital gain taxes.
  • the reinvestment of dividends.
  • the actual US Inflation rates.
ISHARES MSCI JAPAN ETF (EWJ) ETF
Consolidated returns as of 29 February 2024
Live Update: Mar 01 2024
Swipe left to see all data
  Chg (%) Return (%) Return (%) as of Feb 29, 2024
  1 Day Time ET(*) Mar 2024 1M 6M 1Y 5Y 10Y 30Y MAX
(~39Y)
iShares MSCI Japan ETF (EWJ) ETF 1.75 1.75 4.40 13.72 26.19 6.75 5.73 1.76 4.27
US Inflation Adjusted return 4.40 12.43 22.86 2.54 2.87 -0.74 1.44
Returns over 1 year are annualized | Available data source: since Jan 1985
(*) Eastern Time (ET - America/New York)
US Inflation is updated to Jan 2024. Pending updates, the monthly inflation is set at 0% for the subsequent periods. Current inflation (annualized) is 1Y: 2.71% , 5Y: 4.10% , 10Y: 2.77% , 30Y: 2.52%

In 2023, the iShares MSCI Japan ETF (EWJ) ETF granted a 2.41% dividend yield. If you are interested in getting periodic income, please refer to the iShares MSCI Japan ETF (EWJ) ETF: Dividend Yield page.

Capital Growth as of Feb 29, 2024

An investment of 1$, since March 1994, now would be worth 1.69$, with a total return of 68.95% (1.76% annualized).

The Inflation Adjusted Capital now would be 0.80$, with a net total return of -19.97% (-0.74% annualized).
An investment of 1$, since January 1985, now would be worth 5.14$, with a total return of 413.95% (4.27% annualized).

The Inflation Adjusted Capital now would be 1.75$, with a net total return of 75.09% (1.44% annualized).

Investment Metrics as of Feb 29, 2024

Metrics of iShares MSCI Japan ETF (EWJ) ETF, updated as of 29 February 2024.

Metrics are calculated based on monthly returns, assuming:
  • no fees or capital gain taxes.
  • the reinvestment of dividends.
  • the actual US Inflation rates.
ISHARES MSCI JAPAN ETF (EWJ) ETF
Advanced Metrics
Data Source: 1 January 1985 - 29 February 2024 (~39 years)
Swipe left to see all data
Metrics as of Feb 29, 2024
1M 3M 6M 1Y 3Y 5Y 10Y 20Y 30Y MAX
(~39Y)
Investment Return (%) 4.40 11.95 13.72 26.19 2.25 6.75 5.73 4.37 1.76 4.27
Infl. Adjusted Return (%) details 4.40 11.35 12.43 22.86 -3.10 2.54 2.87 1.76 -0.74 1.44
US Inflation (%) 0.00 0.54 1.14 2.71 5.52 4.10 2.77 2.56 2.52 2.79
Pending updates, the monthly inflation after Jan 2024 is set at 0%. Returns / Inflation rates over 1 year are annualized.
DRAWDOWN
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Deepest Drawdown Depth (%) -7.03 -28.85 -28.85 -28.85 -48.88 -57.84 -58.36
Start to Recovery (# months) details 5 29 29 29 120 205 332
Start (yyyy mm) 2023 08 2021 10 2021 10 2021 10 2007 03 2000 04 1989 10
Start to Bottom (# months) 3 12 12 12 24 37 163
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2009 02 2003 04 2003 04
Bottom to End (# months) 2 17 17 17 96 168 169
End (yyyy mm) 2023 12 2024 02 2024 02 2024 02 2017 02 2017 04 2017 05
Longest Drawdown Depth (%)
same as
deepest

same as
deepest

same as
deepest
-18.62
same as
deepest

same as
deepest

same as
deepest
Start to Recovery (# months) details 34
Start (yyyy mm) 2023 08 2021 10 2021 10 2018 02 2007 03 2000 04 1989 10
Start to Bottom (# months) 3 12 12 26 24 37 163
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2020 03 2009 02 2003 04 2003 04
Bottom to End (# months) 2 17 17 8 96 168 169
End (yyyy mm) 2023 12 2024 02 2024 02 2020 11 2017 02 2017 04 2017 05
Longest negative period (# months) details 4 34 44 63 129 268 374
Period Start (yyyy mm) 2023 07 2021 03 2019 03 2017 07 2006 04 1994 03 1989 02
Period End (yyyy mm) 2023 10 2023 12 2022 10 2022 09 2016 12 2016 06 2020 03
Annualized Return (%) -13.58 -0.29 -0.57 -0.16 -0.08 -0.04 -0.02
Deepest Drawdown Depth (%) -7.91 -34.35 -34.35 -34.35 -51.56 -63.40 -72.41
Start to Recovery (# months) details 5 36* 36* 36* 141 356* 421*
Start (yyyy mm) 2023 08 2021 03 2021 03 2021 03 2006 05 1994 07 1989 02
Start to Bottom (# months) 3 19 19 19 34 106 171
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2009 02 2003 04 2003 04
Bottom to End (# months) 2 17 17 17 107 250 250
End (yyyy mm) 2023 12 - - - 2018 01 - -
Longest Drawdown Depth (%)
same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest
Start to Recovery (# months) details
Start (yyyy mm) 2023 08 2021 03 2021 03 2021 03 2006 05 1994 07 1989 02
Start to Bottom (# months) 3 19 19 19 34 106 171
Bottom (yyyy mm) 2023 10 2022 09 2022 09 2022 09 2009 02 2003 04 2003 04
Bottom to End (# months) 2 17 17 17 107 250 250
End (yyyy mm) 2023 12 - - - 2018 01 - -
Longest negative period (# months) details 7 36* 56 104 223 360* 453
Period Start (yyyy mm) 2023 04 2021 03 2019 03 2014 03 2004 04 1994 03 1986 05
Period End (yyyy mm) 2023 10 2024 02 2023 10 2022 10 2022 10 2024 02 2024 01
Annualized Return (%) -1.25 -3.10 -0.86 -0.29 -0.38 -0.74 -0.08
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
1Y 3Y 5Y 10Y 20Y 30Y MAX
Standard Deviation (%) 10.45 15.37 15.26 13.72 15.68 17.71 19.95
Sharpe Ratio 2.01 -0.01 0.32 0.33 0.19 -0.03 0.01
Sortino Ratio 2.65 -0.01 0.46 0.46 0.27 -0.04 0.02
Ulcer Index 2.53 13.12 10.78 9.42 17.25 24.39 24.31
Ratio: Return / Standard Deviation 2.51 0.15 0.44 0.42 0.28 0.10 0.21
Ratio: Return / Deepest Drawdown 3.72 0.08 0.23 0.20 0.09 0.03 0.07
% Positive Months details 75% 52% 55% 56% 56% 53% 53%
Positive Months 9 19 33 68 136 192 253
Negative Months 3 17 27 52 104 168 217
LONG TERM RETURNS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Best 10 Years Return (%) - Annualized 5.73 8.06 8.06 11.15
Worst 10 Years Return (%) - Annualized -1.23 -3.73 -6.04
Best 10 Years Return (%) - Annualized 2.87 6.09 6.09 7.30
Worst 10 Years Return (%) - Annualized -2.93 -6.14 -8.50
ROLLING PERIODS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Over the latest 30Y
Best Rolling Return (%) - Annualized 75.03 32.55 16.28 8.06 5.59 1.76
Worst Rolling Return (%) - Annualized -40.40 -24.82 -9.10 -3.73 -0.41
% Positive Periods 57% 67% 62% 79% 94% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 72.63 19.38 11.31 6.00 2.94 2.13
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - - -
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Best Rolling Return (%) - Annualized 70.54 28.58 12.83 6.09 3.00 -0.74
Worst Rolling Return (%) - Annualized -40.41 -26.62 -11.18 -6.14 -2.75
% Positive Periods 52% 57% 49% 53% 49% 0%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 72.63 19.38 11.31 6.00 2.94 2.13
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - - -
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Over all the available data source (Jan 1985 - Feb 2024)
Best Rolling Return (%) - Annualized 76.80 42.38 26.96 11.15 5.59 3.96
Worst Rolling Return (%) - Annualized -40.40 -24.82 -11.19 -6.04 -3.39 0.11
% Positive Periods 59% 65% 57% 66% 74% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 72.63 19.38 11.31 6.00 2.58 1.60
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - - -
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Best Rolling Return (%) - Annualized 73.89 38.13 22.29 7.30 3.00 1.24
Worst Rolling Return (%) - Annualized -40.41 -26.62 -13.31 -8.50 -6.06 -2.33
% Positive Periods 55% 53% 44% 43% 33% 15%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 72.63 19.38 11.31 6.00 2.58 1.60
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - - -
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Terms and Definitions
  • Annualized Portfolio Return: it's the annualized geometric mean return of the portfolio.
  • Deepest/Longest Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. The deepest (or maximum) drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained. The longest drawdown is the period observed from a peak to the subsequent peak with the greatest duration.
  • Longest negative period: it's the maximum period for which an overall negative return has been observed.
  • Standard Deviation: it's a measure of the dispersion of returns around the mean.
  • Sharpe Ratio: it's a measure of risk-adjusted performance of the portfolio. It's calculated by dividing the excess return of the portfolio over the risk-free rate by the portfolio standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return.
  • Sortino Ratio: another measure of risk-adjusted performance of the portfolio. It's a modification of the Sharpe Ratio (same formula but the denominator is the portfolio downside standard deviation).
  • Ulcer Index: it's a measure of downside risk that quantifies the depth and duration of drawdowns in an investment portfolio.
  • Best/Worst 10Y returns: the best and the worst 10-year return over a time frame.
  • Rolling Returns: N-year returns over a time frame, calculated over all the available data source (best, worst, % of positive returns). Each rolling period, longer than the longest negative period, yielded a non-negative minimum return.
  • Safe Withdrawal Rate (SWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, without the portfolio running out of money in any case (money amount withdrawal).
    For instance: Your initial invested capital is 100.000$; withdrawal rate (annualized) is 4%. This means that, in the first month, you will withdraw 100.000 * 4% * 1/12 = 333.33$. The second month, you’ll withdraw 333.33$ plus the inflation monthly rate. You’ll continue adjusting your withdraw monthly for inflation.
  • Perpetual Withdrawal Rate (PWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, preserving the original invested capital, adjusted for inflation too.

Correlations as of Feb 29, 2024

Correlation measures to what degree the returns of the two assets move in relation to each other.

Correlation coefficient is a numerical value between -1 and +1. If one variable goes up by a certain amount, the correlation coefficient indicates which way the other variable moves and by how much.
Asset correlations are calculated based on monthly returns.

Monthly correlations of iShares MSCI Japan ETF (EWJ) ETF vs the main Asset Classes, over different timeframes. Columns are sortable (click on table header to sort).

ISHARES MSCI JAPAN ETF (EWJ) ETF
Monthly correlations as of 29 February 2024
Swipe left to see all data
Correlation vs EWJ
Asset Class 1 Year 5 Years 10 Years 30 Years Since
Jan 1992
VTI
US Total Stock Market
0.92
0.80
0.78
0.63
0.57
SPY
US Large Cap
0.93
0.79
0.77
0.62
0.57
IJR
US Small Cap
0.66
0.74
0.68
0.56
0.51
VNQ
US REITs
0.70
0.64
0.52
0.40
0.38
QQQ
US Technology
0.86
0.74
0.75
0.52
0.47
PFF
Preferred Stocks
0.60
0.71
0.61
0.36
0.33
EFA
EAFE Stocks
0.85
0.89
0.87
0.79
0.80
VT
World All Countries
0.91
0.85
0.84
0.72
0.70
EEM
Emerging Markets
0.81
0.76
0.73
0.63
0.58
VGK
Europe
0.79
0.83
0.79
0.62
0.60
VPL
Pacific
0.91
0.95
0.94
0.94
0.93
FLLA
Latin America
0.73
0.58
0.47
0.50
0.47
BND
US Total Bond Market
0.66
0.54
0.36
0.12
0.12
TLT
Long Term Treasuries
0.73
0.21
0.07
-0.06
-0.04
BIL
US Cash
0.11
0.09
0.05
-0.06
-0.06
TIP
TIPS
0.66
0.52
0.40
0.16
0.16
LQD
Invest. Grade Bonds
0.71
0.65
0.51
0.25
0.24
HYG
High Yield Bonds
0.77
0.76
0.70
0.47
0.44
CWB
US Convertible Bonds
0.80
0.72
0.72
0.57
0.53
BNDX
International Bonds
0.57
0.53
0.35
0.18
0.16
EMB
Emerg. Market Bonds
0.80
0.73
0.63
0.47
0.44
GLD
Gold
0.19
0.21
0.06
0.14
0.14
DBC
Commodities
0.05
0.39
0.36
0.35
0.34

If you want to learn more about historical correlations, you can find out here how the main asset class are correlated to each other.

Drawdowns

A drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.

ISHARES MSCI JAPAN ETF (EWJ) ETF
Drawdown periods
Drawdown periods - Inflation Adjusted
Data Source: 1 March 1994 - 29 February 2024 (30 Years)
Data Source: 1 January 1985 - 29 February 2024 (~39 years)
Inflation Adjusted:
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-57.84% Apr 2000 Apr 2003 37 Apr 2017 168 205 28.51
-49.29% Jul 1994 Aug 1998 50 Dec 1999 16 66 23.74
-28.85% Oct 2021 Sep 2022 12 Feb 2024 17 29 14.56
-18.62% Feb 2018 Mar 2020 26 Nov 2020 8 34 9.44
-6.90% Jan 2000 Feb 2000 2 Mar 2000 1 3 4.49
-3.64% Mar 1994 Mar 1994 1 Apr 1994 1 2 2.10
-1.61% Apr 2021 Apr 2021 1 May 2021 1 2 0.93
-1.42% Jun 2021 Jul 2021 2 Aug 2021 1 3 0.82
-0.84% Jan 2021 Jan 2021 1 Feb 2021 1 2 0.49
-0.40% May 1994 May 1994 1 Jun 1994 1 2 0.23
-0.09% Aug 2017 Aug 2017 1 Sep 2017 1 2 0.05
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 22 16.4 Months 6.09%
 
DD = 0% 6.09%
 
0% < DD <= -5% 48 7.5 Months 13.30%
 
DD <= -5% 19.39%
 
-5% < DD <= -10% 45 8.0 Months 12.47%
 
DD <= -10% 31.86%
 
-10% < DD <= -15% 54 6.7 Months 14.96%
 
DD <= -15% 46.81%
 
-15% < DD <= -20% 37 9.8 Months 10.25%
 
DD <= -20% 57.06%
 
-20% < DD <= -25% 24 15.0 Months 6.65%
 
DD <= -25% 63.71%
 
-25% < DD <= -30% 33 10.9 Months 9.14%
 
DD <= -30% 72.85%
 
-30% < DD <= -35% 45 8.0 Months 12.47%
 
DD <= -35% 85.32%
 
-35% < DD <= -40% 20 18.1 Months 5.54%
 
DD <= -40% 90.86%
 
-40% < DD <= -45% 11 32.8 Months 3.05%
 
DD <= -45% 93.91%
 
-45% < DD <= -50% 9 40.1 Months 2.49%
 
DD <= -50% 96.40%
 
-50% < DD <= -55% 8 45.1 Months 2.22%
 
DD <= -55% 98.61%
 
-55% < DD <= -60% 5 72.2 Months 1.39%
 
DD <= -60% 100.00%
 
-60% < DD <= -65% 0 - 0.00%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-63.40% Jul 1994 Apr 2003 106 in progress 250 356 38.23
-3.91% Mar 1994 Mar 1994 1 Apr 1994 1 2 2.26
-0.60% May 1994 May 1994 1 Jun 1994 1 2 0.35
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 3 120.3 Months 0.83%
 
DD = 0% 0.83%
 
0% < DD <= -5% 5 72.2 Months 1.39%
 
DD <= -5% 2.22%
 
-5% < DD <= -10% 3 120.3 Months 0.83%
 
DD <= -10% 3.05%
 
-10% < DD <= -15% 7 51.6 Months 1.94%
 
DD <= -15% 4.99%
 
-15% < DD <= -20% 22 16.4 Months 6.09%
 
DD <= -20% 11.08%
 
-20% < DD <= -25% 36 10.0 Months 9.97%
 
DD <= -25% 21.05%
 
-25% < DD <= -30% 51 7.1 Months 14.13%
 
DD <= -30% 35.18%
 
-30% < DD <= -35% 46 7.8 Months 12.74%
 
DD <= -35% 47.92%
 
-35% < DD <= -40% 44 8.2 Months 12.19%
 
DD <= -40% 60.11%
 
-40% < DD <= -45% 51 7.1 Months 14.13%
 
DD <= -45% 74.24%
 
-45% < DD <= -50% 34 10.6 Months 9.42%
 
DD <= -50% 83.66%
 
-50% < DD <= -55% 39 9.3 Months 10.80%
 
DD <= -55% 94.46%
 
-55% < DD <= -60% 12 30.1 Months 3.32%
 
DD <= -60% 97.78%
 
-60% < DD <= -65% 8 45.1 Months 2.22%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-58.36% Oct 1989 Apr 2003 163 May 2017 169 332 28.35
-28.85% Oct 2021 Sep 2022 12 Feb 2024 17 29 14.56
-18.62% Feb 2018 Mar 2020 26 Nov 2020 8 34 9.44
-15.12% Sep 1986 Oct 1986 2 Feb 1987 4 6 7.81
-13.85% Feb 1989 Jun 1989 5 Sep 1989 3 8 5.95
-13.46% Sep 1987 Oct 1987 2 Feb 1988 4 6 6.23
-10.58% May 1988 Jun 1988 2 Nov 1988 5 7 5.50
-6.35% Jun 1987 Jul 1987 2 Aug 1987 1 3 4.04
-4.23% Dec 1985 Jan 1986 2 Feb 1986 1 3 2.48
-1.87% Jul 1985 Jul 1985 1 Aug 1985 1 2 1.08
-1.61% Apr 2021 Apr 2021 1 May 2021 1 2 0.93
-1.42% Jun 2021 Jul 2021 2 Aug 2021 1 3 0.82
-1.24% Jan 1985 Jan 1985 1 Mar 1985 2 3 0.82
-0.84% Jan 2021 Jan 2021 1 Feb 2021 1 2 0.49
-0.42% Apr 1985 Apr 1985 1 May 1985 1 2 0.24
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 42 11.2 Months 8.92%
 
DD = 0% 8.92%
 
0% < DD <= -5% 57 8.3 Months 12.10%
 
DD <= -5% 21.02%
 
-5% < DD <= -10% 58 8.1 Months 12.31%
 
DD <= -10% 33.33%
 
-10% < DD <= -15% 65 7.2 Months 13.80%
 
DD <= -15% 47.13%
 
-15% < DD <= -20% 46 10.2 Months 9.77%
 
DD <= -20% 56.90%
 
-20% < DD <= -25% 33 14.3 Months 7.01%
 
DD <= -25% 63.91%
 
-25% < DD <= -30% 48 9.8 Months 10.19%
 
DD <= -30% 74.10%
 
-30% < DD <= -35% 46 10.2 Months 9.77%
 
DD <= -35% 83.86%
 
-35% < DD <= -40% 28 16.8 Months 5.94%
 
DD <= -40% 89.81%
 
-40% < DD <= -45% 19 24.8 Months 4.03%
 
DD <= -45% 93.84%
 
-45% < DD <= -50% 13 36.2 Months 2.76%
 
DD <= -50% 96.60%
 
-50% < DD <= -55% 10 47.1 Months 2.12%
 
DD <= -55% 98.73%
 
-55% < DD <= -60% 6 78.5 Months 1.27%
 
DD <= -60% 100.00%
 
-60% < DD <= -65% 0 - 0.00%
 
DD <= -65% 100.00%
 
-65% < DD <= -70% 0 - 0.00%
 
DD <= -70% 100.00%
 
-70% < DD <= -100% 0 - 0.00%
 
DD <= -100% 100.00%
 
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-72.41% Feb 1989 Apr 2003 171 in progress 250 421 49.97
-15.58% Sep 1986 Oct 1986 2 Mar 1987 5 7 7.81
-13.98% Sep 1987 Oct 1987 2 Feb 1988 4 6 6.73
-11.19% May 1988 Jun 1988 2 Nov 1988 5 7 6.42
-7.01% Jun 1987 Jul 1987 2 Aug 1987 1 3 4.42
-5.02% Dec 1985 Jan 1986 2 Feb 1986 1 3 2.93
-2.05% Jul 1985 Jul 1985 1 Sep 1985 2 3 1.03
-1.82% Jan 1985 Feb 1985 2 Mar 1985 1 3 1.16
-0.61% Dec 1988 Dec 1988 1 Jan 1989 1 2 0.35
-0.60% Apr 1985 Apr 1985 1 May 1985 1 2 0.35
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 23 20.5 Months 4.88%
 
DD = 0% 4.88%
 
0% < DD <= -5% 20 23.6 Months 4.25%
 
DD <= -5% 9.13%
 
-5% < DD <= -10% 12 39.3 Months 2.55%
 
DD <= -10% 11.68%
 
-10% < DD <= -15% 6 78.5 Months 1.27%
 
DD <= -15% 12.95%
 
-15% < DD <= -20% 5 94.2 Months 1.06%
 
DD <= -20% 14.01%
 
-20% < DD <= -25% 8 58.9 Months 1.70%
 
DD <= -25% 15.71%
 
-25% < DD <= -30% 16 29.4 Months 3.40%
 
DD <= -30% 19.11%
 
-30% < DD <= -35% 18 26.2 Months 3.82%
 
DD <= -35% 22.93%
 
-35% < DD <= -40% 30 15.7 Months 6.37%
 
DD <= -40% 29.30%
 
-40% < DD <= -45% 66 7.1 Months 14.01%
 
DD <= -45% 43.31%
 
-45% < DD <= -50% 55 8.6 Months 11.68%
 
DD <= -50% 54.99%
 
-50% < DD <= -55% 71 6.6 Months 15.07%
 
DD <= -55% 70.06%
 
-55% < DD <= -60% 62 7.6 Months 13.16%
 
DD <= -60% 83.23%
 
-60% < DD <= -65% 50 9.4 Months 10.62%
 
DD <= -65% 93.84%
 
-65% < DD <= -70% 23 20.5 Months 4.88%
 
DD <= -70% 98.73%
 
-70% < DD <= -100% 6 78.5 Months 1.27%
 
DD <= -100% 100.00%
 

Rolling Returns

( more details)

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.

ISHARES MSCI JAPAN ETF (EWJ) ETF
Annualized Rolling Returns
Annualized Rolling Returns - Inflation Adjusted
Data Source: 1 March 1994 - 29 February 2024 (30 Years)
Data Source: 1 January 1985 - 29 February 2024 (~39 years)
Inflation Adjusted:
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Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -40.40 03/2008
02/2009
0.59$ -17.60 0.82$ 2.87 1.02$ 22.58 1.22$ 75.03 10/1998
09/1999
1.75$ 26.19 42.98%
2Y -29.00 02/2000
01/2002
0.50$ -11.71 0.77$ 2.80 1.05$ 16.05 1.34$ 35.98 09/1998
08/2000
1.84$ 6.54 40.36%
3Y -24.82 04/2000
03/2003
0.42$ -8.28 0.77$ 3.73 1.11$ 9.81 1.32$ 32.55 05/2003
04/2006
2.32$ 2.25 32.92%
5Y -9.10 08/1997
07/2002
0.62$ -5.29 0.76$ 2.78 1.14$ 8.58 1.50$ 16.28 05/2003
04/2008
2.12$ 6.75 37.54%
7Y -9.30 05/1996
04/2003
0.50$ -2.68 0.82$ 2.74 1.20$ 6.58 1.56$ 8.74 11/2012
10/2019
1.79$ 6.10 29.24%
10Y -3.73 01/2000
12/2009
0.68$ -0.96 0.90$ 2.64 1.29$ 5.65 1.73$ 8.06 10/2011
09/2021
2.17$ 5.73 20.33%
15Y -3.71 03/1994
02/2009
0.56$ -0.52 0.92$ 2.12 1.37$ 4.03 1.81$ 7.55 03/2009
02/2024
2.98$ 7.55 24.86%
20Y -0.41 05/1994
04/2014
0.92$ 0.61 1.12$ 2.07 1.50$ 4.52 2.41$ 5.59 05/2003
04/2023
2.96$ 4.37 5.79%
30Y 1.76 03/1994
02/2024
1.68$ 1.76 1.68$ 1.76 1.68$ 1.76 1.68$ 1.76 03/1994
02/2024
1.68$ 1.76 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
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Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -40.41 03/2008
02/2009
0.59$ -20.61 0.79$ 0.71 1.00$ 18.97 1.18$ 70.54 10/1998
09/1999
1.70$ 22.86 47.85%
2Y -30.70 02/2000
01/2002
0.48$ -13.90 0.74$ 1.17 1.02$ 13.40 1.28$ 32.27 09/1998
08/2000
1.74$ 2.12 47.18%
3Y -26.62 04/2000
03/2003
0.39$ -10.37 0.72$ 1.64 1.05$ 7.69 1.24$ 28.58 05/2003
04/2006
2.12$ -3.10 42.46%
5Y -11.18 08/1997
07/2002
0.55$ -7.46 0.67$ -0.05 0.99$ 6.42 1.36$ 12.83 11/2002
10/2007
1.82$ 2.54 50.17%
7Y -11.35 05/1996
04/2003
0.43$ -4.89 0.70$ 0.15 1.01$ 4.77 1.38$ 7.12 11/2012
10/2019
1.61$ 2.55 47.29%
10Y -6.14 01/2000
12/2009
0.53$ -3.01 0.73$ 0.37 1.03$ 3.55 1.41$ 6.09 03/2009
02/2019
1.80$ 2.87 46.47%
15Y -6.07 03/1994
02/2009
0.39$ -2.85 0.64$ -0.21 0.96$ 1.91 1.32$ 4.96 05/2003
04/2018
2.06$ 4.89 53.59%
20Y -2.75 05/1994
04/2014
0.57$ -1.51 0.73$ -0.01 0.99$ 2.06 1.50$ 3.00 02/2002
01/2022
1.80$ 1.76 50.41%
30Y -0.74 03/1994
02/2024
0.80$ -0.74 0.80$ -0.74 0.80$ -0.74 0.80$ -0.74 03/1994
02/2024
0.80$ -0.74 100.00%
Annualized rolling and percentiles/median returns over full calendar month periods
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Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -40.40 03/2008
02/2009
0.59$ -16.65 0.83$ 5.17 1.05$ 28.79 1.28$ 76.80 08/1985
07/1986
1.76$ 26.19 40.31%
2Y -29.00 02/2000
01/2002
0.50$ -10.15 0.80$ 2.99 1.06$ 18.52 1.40$ 50.06 09/1985
08/1987
2.25$ 6.54 41.61%
3Y -24.82 04/2000
03/2003
0.42$ -8.04 0.77$ 3.36 1.10$ 11.53 1.38$ 42.38 05/1985
04/1988
2.88$ 2.25 34.02%
5Y -11.19 09/1993
08/1998
0.55$ -5.07 0.77$ 1.32 1.06$ 8.70 1.51$ 26.96 02/1985
01/1990
3.29$ 6.75 42.82%
7Y -9.30 05/1996
04/2003
0.50$ -3.18 0.79$ 2.37 1.17$ 6.58 1.56$ 15.58 02/1985
01/1992
2.75$ 6.10 34.63%
10Y -6.04 05/1993
04/2003
0.53$ -2.41 0.78$ 1.96 1.21$ 5.59 1.72$ 11.15 01/1985
12/1994
2.87$ 5.73 33.05%
15Y -4.99 05/1988
04/2003
0.46$ -1.62 0.78$ 1.19 1.19$ 3.95 1.78$ 8.46 01/1985
12/1999
3.38$ 7.55 34.02%
20Y -3.39 03/1989
02/2009
0.50$ -0.46 0.91$ 1.40 1.32$ 4.06 2.21$ 5.59 05/2003
04/2023
2.96$ 4.37 25.11%
30Y 0.11 01/1989
12/2018
1.03$ 0.76 1.25$ 1.70 1.65$ 2.48 2.08$ 3.96 03/1985
02/2015
3.20$ 1.76 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
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Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -40.41 03/2008
02/2009
0.59$ -19.98 0.80$ 2.64 1.02$ 25.22 1.25$ 73.89 08/1985
07/1986
1.73$ 22.86 44.66%
2Y -30.70 02/2000
01/2002
0.48$ -13.36 0.75$ 1.01 1.02$ 15.12 1.32$ 46.17 05/1985
04/1987
2.13$ 2.12 47.65%
3Y -26.62 04/2000
03/2003
0.39$ -10.37 0.72$ 0.80 1.02$ 9.21 1.30$ 38.13 05/1985
04/1988
2.63$ -3.10 46.21%
5Y -13.31 09/1993
08/1998
0.48$ -7.48 0.67$ -1.47 0.92$ 6.42 1.36$ 22.29 02/1985
01/1990
2.73$ 2.54 55.47%
7Y -11.35 05/1996
04/2003
0.43$ -6.00 0.64$ -0.32 0.97$ 4.57 1.36$ 11.23 02/1985
01/1992
2.10$ 2.55 51.94%
10Y -8.50 09/1988
08/1998
0.41$ -4.90 0.60$ -0.59 0.94$ 3.19 1.36$ 7.30 01/1985
12/1994
2.02$ 2.87 56.98%
15Y -7.78 05/1988
04/2003
0.29$ -4.37 0.51$ -1.16 0.83$ 1.68 1.28$ 5.12 01/1985
12/1999
2.11$ 4.89 63.57%
20Y -6.06 03/1989
02/2009
0.28$ -3.03 0.54$ -0.96 0.82$ 1.45 1.33$ 3.00 02/2002
01/2022
1.80$ 1.76 66.23%
30Y -2.33 01/1989
12/2018
0.49$ -1.62 0.61$ -0.78 0.79$ -0.10 0.97$ 1.24 03/1985
02/2015
1.44$ -0.74 84.68%
Annualized rolling and percentiles/median returns over full calendar month periods

If you need a deeper detail about rolling returns, please refer to the iShares MSCI Japan ETF (EWJ) ETF: Rolling Returns page.

Seasonality

In which months is it better to invest in iShares MSCI Japan ETF (EWJ) ETF?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past.
For further information about the seasonality, check the Asset Class Seasonality page.
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.67
40%
-1.70
40%
-0.57
60%
-0.67
60%
1.30
80%
0.25
40%
1.32
40%
0.11
40%
-0.26
60%
-0.10
40%
5.32
80%
2.03
80%
Best 7.8
2023
4.4
2024
4.9
2023
4.8
2020
7.1
2020
5.1
2023
6.3
2022
6.8
2020
5.2
2019
3.4
2019
11.6
2022
5.3
2020
Worst -4.3
2022
-8.3
2020
-6.7
2020
-8.1
2022
-4.9
2019
-7.4
2022
-1.1
2020
-4.6
2022
-8.8
2022
-2.6
2021
-3.0
2021
-2.2
2022
Monthly Seasonality over the period Feb 1985 - Feb 2024
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
1.61
60%
-0.78
50%
0.09
60%
-0.22
60%
1.70
80%
0.19
40%
1.52
60%
-0.62
30%
0.01
60%
0.69
60%
2.53
70%
-0.18
50%
Best 7.8
2023
7.5
2015
4.9
2023
4.8
2020
7.1
2020
5.1
2023
6.3
2022
6.8
2020
5.2
2019
7.9
2015
11.6
2022
5.3
2020
Worst -5.1
2016
-8.3
2020
-6.7
2020
-8.1
2022
-4.9
2019
-7.4
2022
-1.1
2020
-6.3
2015
-8.8
2022
-8.9
2018
-3.6
2014
-7.7
2018
Monthly Seasonality over the period Feb 1985 - Feb 2024
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.08
53%
0.23
60%
1.78
56%
2.33
64%
0.35
51%
0.18
51%
0.46
50%
-0.89
38%
-0.12
49%
-0.22
46%
0.60
63%
1.39
62%
Best 16.4
1994
13.2
1991
19.4
1986
18.2
1993
16.4
1990
10.5
1999
14.2
1989
9.7
1987
9.7
2013
22.9
1990
11.6
2022
11.6
2008
Worst -12.0
2009
-12.6
2009
-14.0
1990
-8.1
2022
-8.7
2012
-7.7
1988
-11.1
2000
-16.4
1998
-15.2
1990
-15.6
2008
-12.2
1990
-8.0
2001
Monthly Seasonality over the period Feb 1985 - Feb 2024

Monthly Returns

This section provides a visual/tabular representation of the performance variability in the iShares MSCI Japan ETF (EWJ) ETF over time. It illustrates the distribution of monthly returns, showcasing the range and frequency of positive and negative returns.

ISHARES MSCI JAPAN ETF (EWJ) ETF
Monthly Returns Distribution
Data Source: 1 March 1994 - 29 February 2024 (30 Years)
Data Source: 1 January 1985 - 29 February 2024 (~39 years)
192 Positive Months (53%) - 168 Negative Months (47%)
253 Positive Months (54%) - 217 Negative Months (46%)
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Investment Returns, up to December 1996, have been derived using the historical series of equivalent ETFs / Assets.
You can find additional information on extended Data Sources here.

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