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Launched · SEC filings

iShares Currency Hedged MSCI Japan ETF

HEWJNYSE ArcaiSharesC

$62.54+0.10 (+0.16%)

At close: Nov 2, 2026, 4:00 PM ET

C42/ 100

Rank 16 of 18 in Japan

C42/100Rank 16 of 18inJapan
Intraday session: up, 79 prints from 62.44 to 62.54. Range 62.54 to 63.15. Use the arrow keys to read each point.62.8063.0010 AM12 PM2 PM4 PM
Expense ratio
1.02%
Fund size
$625M
1Y total return
+22.4%
Yield · Last 12 months
4.18%
Holdings
171
Avg volume · 30D
62.6K sh
52W range
low $51.98high $67.27
Launched
Filings
SEC EDGAR

The ETF.net HEWJ Grade

Based on 5 of 6 pillars

C

Score 42 out of 100

Category
Japan⁠
Rank
16 of 18
Six-pillar profile for HEWJ. Scores out of 100: Cost 9, Risk 54, Mission not scored, Tradability 81, Holdings 52, Durability 76. Strongest: Tradability (81). Weakest: Cost (9). Based on 5 of 6 pillars.

Score 42 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F9 out of 100
    Rank 16 of 18

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C54 out of 100
    Rank 6 of 18

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A81 out of 100
    Rank 3 of 18

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C52 out of 100
    Rank 11 of 18

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A76 out of 100
    Rank 3 of 18

Our read on HEWJ

ETF.net Research

In short

CJapanese stocks with the yen taken out of the equation. Since 2014, HEWJ has tracked MSCI's 100% USD-hedged Japan index, so what drives the fund is the Japanese market, not the currency.

Stated mandate

The fund seeks to track an index of Japanese equities while reducing the effect of yen currency fluctuations.

Why people hold it

  • The hedge is built into the mandate: it follows the MSCI Japan 100% Hedged to USD Index, which aims to strip yen-versus-dollar moves out of the result.
  • Launched in January 2014 under the iShares banner, so this is a long-running hedged-Japan wrapper rather than a recent launch chasing a theme.
  • A clean single-country mandate: Japanese equities, nothing else blended in, with distributions paid quarterly.

Worth knowing

  • Cost is the sticking point: a 1.02% expense ratio sits well above the typical Japan fund, and Franklin's hedged rival FLJH lists 0.09%.
  • A hedge cuts both ways. Removing yen weakness also removes the lift a strengthening yen would otherwise give a dollar-based holder.
  • Everything rides on one market. Japan-only exposure means no cushion from other regions when Japanese equities wobble.

HEWJ Performance

Launched Jan 31, 2014

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

HEWJ$12,242
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. HEWJ $12,242. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000$12,000$13,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for HEWJ. Periods over one year show the average yearly return.
PeriodHEWJ
Year to date+19.1%
1 month−4.3%
3 months+0.1%
1 year+22.4%
3 yearsper year+26.2%
5 yearsper year+20.5%
10 yearsper year+15.7%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for HEWJ
YearReturn barHEWJ
2026 YTD+19.1%
2025+30.2%
2024+24.8%
2023+36.2%
2022−4.0%
2021+12.8%
2020+10.3%

HEWJ in the news

HEWJ Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
4.18%Last 12 months
Payout per share
$2.61Last 12 months
Last payment
$0.35 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Twice a year

Distribution history

2017–2026

One bar per payment. 21 payments from 2017 to 2026 YTD. Jul 6, 2017 $0.20; Dec 28, 2017 $0.20; Jul 3, 2018 $0.27; Dec 28, 2018 $0.12; Jul 2, 2019 $0.52; Dec 24, 2019 $0.39; Jul 2, 2020 $0.31; Dec 24, 2020 $0.12; Jul 2, 2021 $0.29; Dec 23, 2021 $0.52; Jul 5, 2022 $0.35; Dec 2, 2022 $12.04; Dec 23, 2022 $0.08; Jul 3, 2023 $0.19; Dec 22, 2023 $0.52; Jul 2, 2024 $0.29; Dec 20, 2024 $0.65; Jul 2, 2025 $0.43; Dec 2, 2025 $0.28; Dec 23, 2025 $1.98; Jul 2, 2026 $0.35. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Jul 2, 2026Jul 8, 2026$0.35
Dec 23, 2025Dec 29, 2025$1.98
Dec 2, 2025Dec 5, 2025$0.28
Jul 2, 2025Jul 8, 2025$0.43
Dec 20, 2024Dec 26, 2024$0.65
Jul 2, 2024Jul 8, 2024$0.29
Dec 22, 2023Dec 29, 2023$0.52
Jul 3, 2023Jul 10, 2023$0.19
Dec 23, 2022Dec 30, 2022$0.08
Dec 2, 2022Dec 8, 2022$12.04
Jul 5, 2022Jul 11, 2022$0.35
Dec 23, 2021Dec 30, 2021$0.52

See all 28 payments⁠

$10,000 in HEWJ 10 years ago paid $8,203 in dividends.⁠

HEWJ Risk

Risk pillarC54 out of 100Rank 6 of 18 in Japan
How much the fund’s monthly returns vary, scaled to a year.
12.5%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.58
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−20.9%
Trough Aug 2024
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.41
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

HEWJ Cost

Compare HEWJ and FLJP

Overpaying vs FLJP, tied cheapest in Japan

$17,114

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • HEWJ 1.02%

    $19,012

  • FLJP 0.09% Tied cheapest

    $1,898

$10,000
30 years

Cost over time

  • HEWJ 1.02%
  • FLJP 0.09%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530HEWJ $19,012FLJP $1,898

Year by year

YearHEWJFLJPOverpaying
10$1,797$165$1,632
20$6,746$646$6,100
30$19,012$1,898$17,114

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