iShares MSCI Japan ETF (EWJ)

EWJ is sitting about 1.4% below where it averaged over the past few weeks.

What is going on right now?

The price has drifted lower recently, partly because shifts in the Japanese yen's value rippled across markets that hold Japanese stocks.

How is the business itself doing?

This is a basket of large and mid-sized Japanese companies, spread across factories, tech firms, and banks. Its biggest single name, Mitsubishi UFJ, makes up less than 5% of the whole.

What stands out?

It has gained roughly a fifth in value so far this year, while its annual cost to hold is about a third less than similar options.

What comes next?

Ongoing trade tensions between major economies affect Japanese exporters directly, and any new tariff announcements could move this one quickly.