AAXJ — iShares MSCI All Country Asia ex Japan ETF

AAXJ Price Performance — Growth of $10,000

Value of a $10,000 investment in AAXJ over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

AAXJ Drawdown

The "underwater" chart: AAXJ's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The iShares MSCI All Country Asia ex Japan ETF (AAXJ) operates within the International Developed category, where ETFValuer tracks a total of 22 funds. Issued by iShares, this fund holds $3.97 billion in assets under management and trades at a price of $107.81. It carries an overall rank of #241 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of C with a score of 60.4 out of 100. Investors face an expense ratio of 0.72% while receiving a dividend yield of 1.29%. The combination of a mid-tier grade and a substantial asset base suggests a moderate level of investor adoption relative to the broader universe of tracked funds.

Recent price action shows a decline over the shortest horizons, with the fund down 2.14% over one day and 2.21% over one week. This negative momentum extended into the one-month period with a return of -8.92%, though the three-month return of -0.80% indicates a slowing of losses. A reversal occurred over the six-month period, delivering a gain of 8.05%, which accelerated into year-to-date returns of 12.67%. The one-year return stands at 27.81%, and the three-year return reaches 63.89%, demonstrating a significant divergence between short-term volatility and long-term growth. Closest category peers by rank include EFV with a 1-year return of 28.02% and SCHF with a 1-year return of 24.15%.

The fund is assigned a High volatility label and exhibits a beta of 1.05, indicating that its price movements tend to be slightly more pronounced than the broader market. A Sharpe ratio of 0.92 suggests the fund has generated a moderate amount of excess return per unit of risk taken over the measured period. Despite the positive long-term returns, the fund experienced a maximum drawdown of -19.74%, reflecting the potential for significant temporary losses during market downturns. This combination of high volatility and a beta above 1.0 implies the fund amplifies market movements, while the Sharpe ratio and drawdown figures together illustrate the trade-off between the substantial gains and the depth of recent declines.

AI-generated summary based on the data on this page.

AAXJ Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 40.5% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how AAXJ's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With AAXJ

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with AAXJ's top 10 — ESGE overlaps most, holding 9 of the same companies as AAXJ's top 10 (39.5% of AAXJ's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.65% (as of 2026-07-27) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.67 (as of 2026-07-27) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

Trade-Weighted US Dollar Index: 120.71 (as of 2026-07-24) — Measures the US dollar’s strength against major trading-partner currencies — dollar moves directly affect the US-dollar value of this fund’s international holdings.

AAXJ Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 5.51% and average daily volume is 665K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $3.97B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: AAXJ is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

AAXJ Performance History

How AAXJ Compares to Other International Developed ETFs