EWJ vs EWG: Head-to-Head Comparison
Last updated: March 2026 • International Developed
Quick Verdict
EWJ edges out EWG with a stronger Beginner Suitability Score (9 vs 8). It offers better overall characteristics for new investors.
Side-by-Side Comparison
Key Differences Between EWJ and EWG
EWJ (iShares MSCI Japan ETF) is a japan equity fund managed by BlackRock. EWJ is the largest and most popular ETF for investing in Japanese stocks, covering hundreds of companies across the full spectrum of Japan's economy. It holds major names in automotive, electronics, industrials, and financial services. This fund is the go-to choice for investors who want straightforward, diversified access to the world's third-largest economy.
EWG (iShares MSCI Germany ETF) is a germany equity fund managed by BlackRock. EWG invests in large- and mid-cap German companies, providing exposure to Europe's largest and most industrialized economy. It holds globally recognized brands in automotive, chemicals, industrial engineering, and financial services. This fund is ideal for investors who want focused access to Germany's export-driven economy and its world-class manufacturing sector.
The most notable differences are in fees (0.50% vs 0.50%), number of holdings (225 vs 60), and 5-year returns (6.00% vs 6.00%).
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Holdings Overlap Analysis
0%
Holdings Overlap
EWJ and EWG share only 0% of their top holdings. These funds are quite different, making them complementary choices if you want broader market coverage.
Cost Comparison Over Time
If you invest $10,000 and hold for 20 years (assuming 8% annual returns):
EWJ
Fee cost: $4,131
EWG
Fee cost: $4,131
Over 20 years, the fee difference amounts to $0 on a $10,000 investment. The cost difference is negligible — choose based on other factors.
Which One Should a Beginner Choose?
Choose EWJ if: You want investors seeking diversified exposure to japan's established industrial economy, international portfolio builders who need a core japanese equity allocation, those who believe japan's governance reforms will continue driving stock market gains. It's managed by BlackRock with an expense ratio of 0.50%.
Choose EWG if: You want investors seeking exposure to europe's industrial powerhouse and export economy, those who want to diversify away from us-centric portfolios with developed european equities, value investors attracted to lower price multiples compared to us large-cap stocks. It's managed by BlackRock with an expense ratio of 0.50%.
Can You Own Both EWJ and EWG?
Absolutely! With only 0% overlap, EWJ and EWG complement each other well. A simple portfolio might allocate 60% to one and 40% to the other, or you could pair them with a bond ETF like BND for a complete three-fund portfolio.
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Frequently Asked Questions
Should I buy EWJ or EWG?▾
EWJ edges out EWG with a stronger Beginner Suitability Score (9 vs 8). It offers better overall characteristics for new investors. However, both are solid options. EWJ is best for investors who want investors seeking diversified exposure to japan's established industrial economy, while EWG is better suited for investors seeking exposure to europe's industrial powerhouse and export economy.
What is the difference between EWJ and EWG?▾
EWJ (iShares MSCI Japan ETF) tracks japan equity investments with 225 holdings and a 0.50% expense ratio. EWG (iShares MSCI Germany ETF) focuses on germany equity with 60 holdings at 0.50%. Their top holdings overlap by 0%.
Can I own both EWJ and EWG?▾
Yes! With only 0% holdings overlap, EWJ and EWG complement each other well. Owning both gives you broader diversification.