Bill Lee had the lowest ERA in 1938, with an ERA of 2.66.

Interpreted as:

lowest era with a minimum of 1 IP per team game by a player in 1938

	NAME	ERA	SEASON	TM	G	W	L	W%	GS	SO	CG	SHO	SV	IP	H	ER	R	HR	BB	HBP	GF	TBF	WP	K/9	BB/9	K/BB	HR/9	K%	BB%	WHIP	BABIP	RA	ERA-	FIP	FIP-	H/9	PRAA
1	Bill Lee B. Lee	2.66	1938	CHC	44	22	9	.710	37	121	19	9	2	291.0	281	86	95	18	74	2	5	1,194	3	3.74	2.29	1.64	0.56	10.1	6.2	1.22	.269	2.94	70	3.68	92	8.69	10.8
2	Charlie Root C. Root	2.86	1938	CHC	44	8	7	.533	11	70	5	0	9	160.2	163	51	62	10	30	2	20	673	0	3.92	1.68	2.33	0.56	10.4	4.5	1.20	.273	3.47	75	3.46	86	9.13	9.9
3	Paul Derringer P. Derringer	2.93	1938	CIN	41	21	14	.600	37	132	26	4	3	307.0	315	100	110	20	49	0	4	1,263	1	3.87	1.44	2.69	0.59	10.5	3.9	1.19	.278	3.22	80	3.39	88	9.23	15.5
4	Danny MacFayden D. MacFayden	2.95	1938	BSN	29	14	9	.609	29	58	19	5	0	219.2	208	72	82	6	64	5	0	924	3	2.38	2.62	0.91	0.25	6.3	6.9	1.24	.255	3.36	84	3.69	100	8.52	-1.3
5	Bob Klinger B. Klinger	2.99	1938	PIT	28	12	5	.706	21	58	10	1	1	159.1	152	53	63	7	42	6	4	659	0	3.28	2.37	1.38	0.40	8.8	6.4	1.22	.266	3.56	80	3.67	93	8.59	4.5
6	Freddie Fitzsimmons F. Fitzsimmons	3.02	1938	BKN	27	11	8	.579	26	38	12	3	0	202.2	205	68	83	8	43	3	1	842	3	1.69	1.91	0.88	0.36	4.5	5.1	1.22	.263	3.69	77	3.74	92	9.10	8.1
7	Carl Hubbell C. Hubbell	3.07	1938	NYG	24	13	10	.565	22	104	13	1	1	179.0	171	61	70	16	33	2	2	732	1	5.23	1.66	3.15	0.80	14.2	4.5	1.14	.269	3.52	81	3.51	88	8.60	9.2
8	Russ Bauers R. Bauers	3.07	1938	PIT	40	13	14	.481	34	117	12	2	3	243.0	207	83	102	7	99	6	6	1,008	6	4.33	3.67	1.18	0.26	11.6	9.8	1.26	.257	3.78	82	3.63	92	7.67	8
9	Lefty Grove L. Grove	3.08	1938	BSA	24	14	4	.778	21	99	12	1	1	163.2	169	56	65	8	52	1	3	706	3	5.44	2.86	1.90	0.44	14.0	7.4	1.35	.295	3.57	62	3.32	70	9.29	25.3
10	Clay Bryant C. Bryant	3.10	1938	CHC	44	19	11	.633	30	135	17	3	2	270.1	235	93	105	6	125	1	10	1,146	5	4.49	4.16	1.08	0.20	11.8	10.9	1.33	.261	3.50	81	3.61	90	7.82	12.1
11	Johnny Vander Meer J. Vander Meer	3.12	1938	CIN	32	15	10	.600	29	125	16	3	0	225.1	177	78	89	12	103	3	0	948	5	4.99	4.11	1.21	0.48	13.2	10.9	1.24	.234	3.55	85	3.92	102	7.07	-2.2
12	Lou Fette L. Fette	3.15	1938	BSN	33	11	13	.458	32	83	17	3	1	239.2	235	84	95	11	79	4	1	1,011	1	3.12	2.97	1.05	0.41	8.2	7.8	1.31	.269	3.57	90	3.87	105	8.82	-6.3
13	Bill McGee B. McGee	3.21	1938	SLN	47	7	12	.368	25	104	10	1	5	216.0	216	77	101	4	78	1	11	932	2	4.33	3.25	1.33	0.17	11.2	8.4	1.36	.285	4.21	83	3.30	81	9.00	18
14	Red Ruffing R. Ruffing	3.31	1938	NYY	31	21	7	.750	31	127	22	3	0	247.1	246	91	104	16	82	0	0	1,043	1	4.62	2.98	1.55	0.58	12.2	7.9	1.33	.281	3.78	72	3.73	85	8.95	18.7
15	Bill Lohrman B. Lohrman	3.32	1938	NYG	31	9	6	.600	14	52	3	0	0	152.0	152	56	72	9	33	2	5	639	0	3.08	1.95	1.58	0.53	8.1	5.2	1.22	.263	4.26	88	3.70	93	9.00	4.6
16	Lefty Gomez L. Gomez	3.35	1938	NYY	32	18	12	.600	32	129	20	4	0	239.0	239	89	110	7	99	1	0	1,034	5	4.86	3.73	1.30	0.26	12.5	9.6	1.41	.291	4.14	73	3.48	79	9.00	25.1
17	Dutch Leonard D. Leonard	3.43	1938	WSH	33	12	15	.444	31	68	15	3	0	223.1	221	85	109	11	53	7	1	939	11	2.74	2.14	1.28	0.44	7.2	5.6	1.23	.263	4.39	75	3.76	86	8.91	14.9
18	Jim Turner J. Turner	3.46	1938	BSN	35	14	18	.438	34	71	22	3	0	268.0	267	103	123	21	54	5	1	1,107	1	2.38	1.81	1.31	0.71	6.4	4.9	1.20	.257	4.13	98	4.07	110	8.97	-13.7
19	Jim Tobin J. Tobin	3.47	1938	PIT	40	14	12	.538	33	70	14	2	0	241.1	254	93	109	17	66	6	6	1,029	2	2.61	2.46	1.06	0.63	6.8	6.4	1.33	.272	4.06	93	4.15	106	9.47	-6.2
20	Thornton Lee T. Lee	3.49	1938	CWS	33	13	12	.520	30	77	18	1	1	245.1	252	95	123	12	94	3	3	1,074	2	2.82	3.45	0.82	0.44	7.2	8.8	1.41	.270	4.51	73	4.12	90	9.24	13.1
21	Hal Schumacher H. Schumacher	3.50	1938	NYG	28	13	8	.619	28	54	12	3	0	185.0	178	72	81	12	50	2	0	775	1	2.63	2.43	1.08	0.58	7.0	6.5	1.23	.253	3.94	93	4.03	101	8.66	-1.1
22	Johnny Rigney J. Rigney	3.56	1938	CWS	38	9	9	.500	12	84	7	1	1	167.0	164	66	74	16	72	2	19	728	7	4.53	3.88	1.17	0.86	11.5	9.9	1.41	.267	3.99	74	4.49	98	8.84	1.9
23	Tot Pressnell T. Pressnell	3.56	1938	BKN	43	11	14	.440	19	57	6	1	4	192.0	209	76	86	11	56	8	19	836	5	2.67	2.63	1.02	0.52	6.8	6.7	1.38	.281	4.03	91	4.08	100	9.80	0.8
24	Bob Weiland B. Weiland	3.59	1938	SLN	35	16	11	.593	29	117	11	1	1	228.1	248	91	118	14	67	4	3	990	1	4.61	2.64	1.75	0.55	11.8	6.8	1.38	.297	4.65	93	3.63	90	9.78	10.8
25	Bump Hadley B. Hadley	3.60	1938	NYY	29	9	8	.529	17	61	8	1	1	167.1	165	67	79	13	66	3	5	728	6	3.28	3.55	0.92	0.70	8.4	9.1	1.38	.260	4.25	78	4.44	101	8.87	-1.1