What if you invested in Japan (EWJ) in 1996?
EWJ · Index · Data through 2026-06-01
If you invested $1,000 in Japan (EWJ) in 1996
The same $1,000 in the S&P 500 would be worth $19,797(+1879.7%)
The S&P 500 returned $19,797 on the same $1,000. S&P 500 outperformed by $17,481.
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Pick any month and year to see what Japan (EWJ) would be worth.
Compare Japan (EWJ) to another stock
See how Japan (EWJ) stacks up since 1996, head to head.
What if Japan (EWJ) keeps this up?
Project forward at Japan (EWJ)'s 2.8% historical growth rate. See 5-30 year scenarios.
Growth of $1,000
Japan (EWJ) vs. S&P 500 vs. US Dollar, 1996 to present
Year-by-Year Returns
$1,000 invested in Japan (EWJ) starting January 1996
| Year | Price | Value | Annual |
|---|---|---|---|
| 1996 | $40.05 | $1,000 | - |
| 1997 | $30.00 | $749 | -25.1% |
| 1998 | $28.26 | $706 | -5.8% |
| 1999 | $26.88 | $671 | -4.9% |
| 2000 | $39.79 | $993 | +48% |
| 2001 | $30.94 | $773 | -22.2% |
| 2002 | $20.08 | $501 | -35.1% |
| 2003 | $19.04 | $475 | -5.2% |
| 2004 | $27.18 | $679 | +42.7% |
| 2005 | $29.91 | $747 | +10.1% |
| 2006 | $39.77 | $993 | +33% |
| 2007 | $40.88 | $1,021 | +2.8% |
| 2008 | $36.72 | $917 | -10.2% |
| 2009 | $24.65 | $616 | -32.9% |
| 2010 | $29.19 | $729 | +18.4% |
| 2011 | $32.89 | $821 | +12.6% |
| 2012 | $29.33 | $732 | -10.8% |
| 2013 | $31.25 | $780 | +6.5% |
| 2014 | $35.94 | $897 | +15% |
| 2015 | $36.91 | $922 | +2.7% |
| 2016 | $37.40 | $934 | +1.3% |
| 2017 | $41.93 | $1,047 | +12.1% |
| 2018 | $52.87 | $1,320 | +26.1% |
| 2019 | $46.30 | $1,156 | -12.4% |
| 2020 | $50.30 | $1,256 | +8.6% |
| 2021 | $59.05 | $1,474 | +17.4% |
| 2022 | $57.65 | $1,439 | -2.4% |
| 2023 | $53.41 | $1,334 | -7.3% |
| 2024 | $61.54 | $1,537 | +15.2% |
| 2025 | $64.96 | $1,622 | +5.6% |
| 2026 | $85.26 | $2,129 | +31.2% |
What this return means
Putting $1,000 into Japan (EWJ) in 1996 returned $2,316. That is a +131.6% gain, a little over 2.3x your money, measured to 2026-06-01.
That is only about 2.8% a year once you compound it across 30.6 years. Because this is a broad S&P 500 fund, it is the benchmark here rather than something measured against it.
The year-by-year record shows how bumpy the ride was. The best single year was 2000 at +48.0%, and the worst was 2002 at -35.1%. At its lowest point the position was down about 52% from an earlier high. These figures use split-adjusted closing prices and exclude dividends, taxes, trading fees, and inflation, so a real after-tax result would differ.
This is historical math, not financial advice. Past performance does not guarantee future results.
What if you invested $100 a month instead?
Most people do not drop a lump sum in on day one. They add a fixed amount every month. Putting $100 into Japan (EWJ) at the close of every month from March 1996 through June 2026 means 364 buys and $36,400 contributed over about 30.3 years.
$100/month, dollar-cost averaged
$94,638
+160.0% on $36,400 in
Same $36,400, all in at the start
$84,315
+131.6% on $36,400 in
Spreading the buys out beat going all in at the start by $10,323. That happens when the price spent time below where it began, so averaging in caught the cheaper months. Averaging in also meant an average buy price of $35.68 per share across the whole stretch, so the monthly buyer never had to time a single low. Neither number counts dividends, taxes, or trading costs.
Illustrative fixed $100/month example, not a recommendation. Figures are computed from EWJ split-adjusted monthly closes through June 2026. Past performance does not guarantee future results.
Japan (EWJ) at different times
See how the start year changes the outcome
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Numbers worth sharing
Occasional data drops when something interesting surfaces. No schedule, just signal.
For informational and educational purposes only. Not financial advice. Past performance does not guarantee future results. All calculations are based on split-adjusted closing prices from Yahoo Finance and do not account for dividends, taxes, or trading fees. See our methodology and full disclaimer.