EFA vs EWJ
iShares MSCI EAFE ETF vs iShares MSCI Japan ETF
Last updated: 2026-04-02
iShares MSCI EAFE ETF (EFA) is an exchange-traded fund issued by iShares that provides exposure to equities in developed international markets outside the U.S.. It charges an above-average expense ratio of 0.32%. The fund offers an attractive dividend yield of 3.29%. Launched in 2001, the fund has a 25-year track record.
iShares MSCI Japan ETF (EWJ) is an exchange-traded fund 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 4.22%. Launched in 1996, the fund has a 30-year track record.
Quick Verdict
EFA is significantly cheaper at 0.32% vs 0.49% expense ratio, saving you approximately $329 per $10,000 invested over 10 years. Over the past year, EWJ has significantly outperformed with a 26.8% return vs 20.5%. Income investors may prefer EWJ for its higher yield (4.2% vs 3.3%).
Key Metrics
Performance Chart
Indexed to 100 at start (5-year comparison)
Performance Comparison
Fee Impact Over Time
Estimated fee cost difference assuming 8% annual returns
Risk Metrics
Based on 5 years of daily returns
Dividend Comparison
Top Holdings
2 of top 10 holdings overlap (20% overlap in top holdings)
EFA Top Holdings
| Name | Weight |
|---|---|
| ASML Holding N.V.!ams/ASML | 2.54% |
| AstraZeneca PLC!lon/AZN | 1.46% |
| Novartis AG!swx/NOVN | 1.41% |
| Roche Holding AG!swx/ROP | 1.36% |
| HSBC Holdings plc!lon/HSBA | 1.36% |
| Shell plc!lon/SHEL | 1.31% |
| Nestlé S.A.!swx/NESN | 1.22% |
| Toyota Motor Corporation!tyo/7203 | 1.00% |
| Commonwealth Bank of Australia!asx/CBA | 0.99% |
| Mitsubishi UFJ Financial Group, Inc.!tyo/8306 | 0.95% |
EWJ Top Holdings
| Name | Weight |
|---|---|
| Toyota Motor Corporation!tyo/7203 | 4.27% |
| Mitsubishi UFJ Financial Group, Inc.!tyo/8306 | 4.05% |
| Hitachi, Ltd.!tyo/6501 | 2.86% |
| Sony Group Corporation!tyo/6758 | 2.61% |
| Sumitomo Mitsui Financial Group, Inc.!tyo/8316 | 2.54% |
| Mitsubishi Corporation!tyo/8058 | 2.46% |
| Tokyo Electron Limited!tyo/8035 | 2.33% |
| Advantest Corporation!tyo/6857 | 2.23% |
| Mitsui & Co., Ltd.!tyo/8031 | 2.14% |
| Mizuho Financial Group, Inc.!tyo/8411 | 2.10% |
Which One Should You Choose?
Choose EFA if...
you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.
Choose EWJ if...
recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.
Choose EWJ if...
you prioritize dividend income and want higher regular distributions from your portfolio.