The takeaway
iShares MSCI Japan ETF shows a slight seasonal lean over 10 years of data — strongest in May (+1.7%) and softest in June (−0.7%).
Right now
In July, the fund has risen 60% of years, averaging +1.9% — essentially in line with the S&P 500.
The full picture
iShares MSCI Japan ETF's most dependable month has been May, higher in 8 of 10 years; June has been its least reliable, up just 40% of the time.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Win rate % | ||||||||||||
| Median return % | ||||||||||||
| 2025 | ||||||||||||
| 2024 | ||||||||||||
| 2023 | ||||||||||||
| 2022 | ||||||||||||
| 2021 | ||||||||||||
| 2020 | ||||||||||||
| 2019 | ||||||||||||
| 2018 | ||||||||||||
| 2017 | ||||||||||||
| 2016 |
Month by month
The fund's clearest edge over the S&P 500 lands in January (+1.7 pts); it has trailed the market most in October (−1.5 pts).
“vs S&P” is iShares MSCI Japan ETF’s average for a month minus the S&P 500’s average for that same month — isolating iShares MSCI Japan ETF’s own seasonal edge from broad market drift.
Reality check
Over the last 5 years, May has closed higher 100% of the time versus 80% across the last 10 years — the pattern is strengthening.
Figures are the typical (median) May return and how often it rose — the last 5 years versus the last 10(the heatmap’s default window). This verdict stays anchored to that 10-year window even if you zoom the chart, so it never disagrees with the badges above.
In plain English
This is a fund you can almost set a calendar by, and May is the anchor — it has closed higher in 8 of 10 Mays, the steadiest beat on its year.
The strength looks broad-based rather than freakish: its average (+1.7%) and median (+1.6%) sit close together, so no single blow-out year is flattering the figure. Better still, that strength is the fund's own and not just a buoyant market — May has outpaced the S&P 500 by +1.0 points on average. Few peers keep such company in May — the typical stock clears it just 55% of the time.
It doesn't stand entirely alone — January, April, and July have leaned firm as well, if less emphatically. On the other side of the ledger, June has been the soft spot — the weakest of 2 months that average a loss (−0.7%), and the edge isn't year-round — the fund has trailed the S&P 500 in October, February, and December.
May has now closed higher 6 years running. If anything it has sharpened recently — the last five Mays run ahead of the earlier years.
For a fund this dependable in May, the sharper question is the rest of the year — outside its strong stretch, the calendar gives far less to lean on.
Short answers on the fund's best month (May), its worst (June), and whether it really trades seasonally.
Only mildly. The fund's months are fairly even — May is the firmest (+1.7%) and June the softest (−0.7%), a narrow spread that points to weak seasonality rather than a strong calendar effect.
May has been the strongest, averaging +1.7% and closing higher in 8 of 10 years since 2016.
It's the weakest, averaging −0.7% — historically a soft spot, though it still varies from year to year.
Explore
These names have the strongest July track records on record — a starting point for comparison.
Before you trade