iShares Japan EWJ Fact Sheet

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iShares MSCI Japan Index ETF (EWJ)

Fact Sheet:

  • EWJ does not track/mirror the Nikkei 225 Stock Average (N225), but rather the Morgan Stanley Capital International (MSCI) – Japan Index
  • EWJ is used as a proxy for investing directly in Japan (in ordinary shares) by institutional and retail investors
  • EWJ consists primarily of large-cap stocks trading on the Tokyo Stock Exchange (TSE) TOPIX 1st Section
  • EWJ (its market price) is helped by a strong yen and hurt by a weak yen; although, unhedged, a strong yen typically hurts the overseas operations/earnings of Japanese companies (see below)
  • EWJ may trade to the upside, even if the benchmark N225 was down, if the yen appreciates, and the opposite is true
  • EWJ began trading in March 1996; it is listed on the NYSE
  • EWJ is typically among the most actively traded country-based ETFs (liquid, narrow bid-ask)
  • EWJ is optionable, but volume is typically (or may be) light
  • EWJ can be shorted, but it may not be easy to locate stock
  • *EWJ has 316 stock holdings
  • *EWJ includes Toyota (TM, 7203), Mitsubishi UFJ (MTU, 8306), Softbank (SFTBF, 9984), Honda (HMC, 7267), and Sumitomo Mitsui FG (SMFG, 8316) among its top-5 holdings
  • *EWJ has 21% of assets in its top-10 holdings
  • *EWJ has an expense ratio of 0.48%
  • *EWJ has total net assets of over $14.5 billion

* Note: As of December 31, 2014, based on publicly available information.