AAXJ vs. ADVE

Last updated Jun 26, 2026

AAXJ (iShares MSCI All Country Asia ex-Japan ETF) and ADVE (Matthews Asia Dividend Active ETF) are both Asia Pacific Equities funds. AAXJ is passively managed, while ADVE is actively managed. Over the past year, AAXJ returned 45.68% vs 30.99% for ADVE. Their correlation of 0.89 suggests significant overlap in exposure. AAXJ charges 0.68%/yr vs 0.79%/yr for ADVE.

Performance

AAXJ vs. ADVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI All Country Asia ex-Japan ETF (AAXJ) and Matthews Asia Dividend Active ETF (ADVE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAXJ achieves a 27.57% return, which is significantly higher than ADVE's 15.85% return.

AAXJ

• 1D: 1.00%
• 1M: 0.30%
• YTD: 27.57%
• 6M: 28.45%
• 1Y: 45.68%
• 3Y*: 23.86%
• 5Y*: 6.54%
• 10Y*: 10.62%

ADVE

• 1D: 0.30%
• 1M: -2.84%
• YTD: 15.85%
• 6M: 15.62%
• 1Y: 30.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAXJ vs. ADVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AAXJ iShares MSCI All Country Asia ex-Japan ETF	27.57%	31.53%	10.41%	6.73%
ADVE Matthews Asia Dividend Active ETF	15.85%	26.12%	7.02%	4.58%

Correlation

The correlation between AAXJ and ADVE is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023	0.89

The correlation between AAXJ and ADVE has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.

AAXJ vs. ADVE - Sectors Allocation Comparison

Sectors	AAXJ	ADVE
Technology	49.4%	29.3%
Financial Services	15.8%	27.7%
Consumer Cyclical	8.9%	5.8%
Industrials	7.3%	12.2%
Communication Services	5.9%	12.0%
Basic Materials	3.1%	4.1%
Healthcare	2.6%	0.9%
Energy	2.2%	1.0%
Consumer Defensive	2.0%	2.7%
Utilities	1.6%	0.9%
Real Estate	1.4%	3.4%

Return for Risk

AAXJ vs. ADVE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAXJ

AAXJ Risk / Return Rank: 72
AAXJ Sharpe Ratio Rank: 71
AAXJ Sortino Ratio Rank: 63
AAXJ Omega Ratio Rank: 75
AAXJ Calmar Ratio Rank: 75
AAXJ Martin Ratio Rank: 75

ADVE

ADVE Risk / Return Rank: 59
ADVE Sharpe Ratio Rank: 56
ADVE Sortino Ratio Rank: 54
ADVE Omega Ratio Rank: 60
ADVE Calmar Ratio Rank: 61
ADVE Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAXJ vs. ADVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI All Country Asia ex-Japan ETF (AAXJ) and Matthews Asia Dividend Active ETF (ADVE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AAXJ	ADVE	Difference
Sharpe ratio: Return per unit of total volatility	1.97	1.67	+0.30
Sortino ratio: Return per unit of downside risk	2.53	2.31	+0.21
Omega ratio: Gain probability vs. loss probability	1.38	1.32	+0.06
Calmar ratio: Return relative to maximum drawdown	3.36	2.65	+0.71
Martin ratio: Return relative to average drawdown	12.18	10.00	+2.18

AAXJ vs. ADVE - Sharpe Ratio Comparison

The current AAXJ Sharpe Ratio is 1.97, which is comparable to the ADVE Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of AAXJ and ADVE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AAXJ vs. ADVE - Drawdown Comparison

The maximum AAXJ drawdown since its inception was -49.37%, which is greater than ADVE's maximum drawdown of -18.41%. Use the drawdown chart below to compare losses from any high point for AAXJ and ADVE.

Drawdown Indicators

	AAXJ	ADVE	Difference
Max Drawdown Largest peak-to-trough decline	-49.37%	-18.41%	-30.96%
Max Drawdown (1Y) Largest decline over 1 year	-13.66%	-11.73%	-1.93%
Max Drawdown (3Y) Largest decline over 3 years	-19.74%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-40.64%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.52%	—	—
Current Drawdown Current decline from peak	-4.70%	-5.25%	+0.55%
Average Drawdown Average peak-to-trough decline	-13.99%	-3.18%	-10.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.76%	3.11%	+0.65%

Volatility

AAXJ vs. ADVE - Volatility Comparison

iShares MSCI All Country Asia ex-Japan ETF (AAXJ) has a higher volatility of 12.93% compared to Matthews Asia Dividend Active ETF (ADVE) at 8.83%. This indicates that AAXJ's price experiences larger fluctuations and is considered to be riskier than ADVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAXJ	ADVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.93%	8.83%	+4.10%
Volatility (6M) Calculated over the trailing 6-month period	21.20%	16.53%	+4.67%
Volatility (1Y) Calculated over the trailing 1-year period	23.27%	18.59%	+4.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.63%	16.28%	+4.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.50%	16.28%	+4.22%

AAXJ vs. ADVE - Expense Ratio Comparison

AAXJ has a 0.68% expense ratio, which is lower than ADVE's 0.79% expense ratio.

Dividends

AAXJ vs. ADVE - Dividend Comparison

AAXJ's dividend yield for the trailing twelve months is around 1.31%, less than ADVE's 2.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAXJ iShares MSCI All Country Asia ex-Japan ETF	1.31%	1.81%	1.86%	1.95%	1.74%	2.21%	1.06%	1.83%	2.10%	1.99%	1.77%	2.44%
ADVE Matthews Asia Dividend Active ETF	2.22%	2.97%	6.00%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AAXJ and ADVE in my portfolio?

With a correlation of 0.90, AAXJ and ADVE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AAXJ or ADVE?

AAXJ has higher volatility (12.93%) compared to ADVE (8.83%). In terms of maximum drawdown, AAXJ dropped -49.37% vs ADVE's -18.41%.

Which ETF is better, AAXJ or ADVE?

On 1-year performance, AAXJ leads with 45.68% vs 30.99% for ADVE. On fees, AAXJ is cheaper at 0.68% per year. On volatility, ADVE has been the lower-risk option at 8.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AAXJ or ADVE?

Over the 1-year period, AAXJ has performed better with a 45.68% return vs 30.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AAXJ or ADVE?

AAXJ is cheaper with a 0.68% expense ratio, compared with 0.79% for ADVE.

Which ETF pays a higher dividend yield, AAXJ or ADVE?

ADVE has the higher dividend yield at 2.22%, compared with 1.31% for AAXJ.

What is the main difference between AAXJ and ADVE?

They also come from different issuers: iShares and Matthews. Their fees differ too: 0.68% for AAXJ and 0.79% for ADVE.

Which has better risk-adjusted returns?

AAXJ currently has the higher Sharpe Ratio (1.97 vs 1.67), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.