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AAXJ vs. FLTW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AAXJ vs. FLTW

Last updated Jun 24, 2026

AAXJ (iShares MSCI All Country Asia ex-Japan ETF) and FLTW (Franklin FTSE Taiwan ETF) are both Asia Pacific Equities funds - AAXJ tracks the MSCI All Country Asia ex Japan Index while FLTW tracks the FTSE Taiwan RIC Capped Index. Both are passively managed. Over the past 5 years, AAXJ returned 6.42%/yr vs 21.46%/yr for FLTW. A 0.75 correlation means they provide meaningful diversification when combined. AAXJ charges 0.68%/yr vs 0.19%/yr for FLTW.

Performance

AAXJ vs. FLTW - 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 Franklin FTSE Taiwan ETF (FLTW). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, AAXJ achieves a 25.79% return, which is significantly lower than FLTW's 69.07% return.

AAXJ

1D
-6.03%
1M
2.68%
YTD
25.79%
6M
26.97%
1Y
47.85%
3Y*
23.41%
5Y*
6.42%
10Y*
10.35%

FLTW

1D
-5.93%
1M
8.95%
YTD
69.07%
6M
72.09%
1Y
109.94%
3Y*
41.99%
5Y*
21.46%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

AAXJ vs. FLTW - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
AAXJ
iShares MSCI All Country Asia ex-Japan ETF		25.79%31.53%10.41%4.79%-20.35%-5.73%23.35%17.93%-15.04%2.16%
FLTW
Franklin FTSE Taiwan ETF		69.07%32.00%16.68%30.05%-27.51%29.46%29.77%31.23%-9.32%-1.28%

Correlation

The correlation between AAXJ and FLTW is 0.85, 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

0.85

Correlation (3Y)
Calculated over the trailing 3-year period

0.78

Correlation (5Y)
Calculated over the trailing 5-year period

0.78

Correlation (All Time)
Calculated using the full available price history since Nov 6, 2017

0.75

The correlation between AAXJ and FLTW has been stable across timeframes, ranging from 0.75 to 0.85 - a consistent structural relationship.

AAXJ vs. FLTW - Sectors Allocation Comparison

Sectors
AAXJ
FLTW

Technology

49.4%
78.7%

Financial Services

15.8%
11.2%

Consumer Cyclical

8.9%
1.5%

Industrials

7.3%
3.3%

Communication Services

5.9%
1.4%

Basic Materials

3.1%
2.5%

Healthcare

2.6%
0.6%

Energy

2.2%
0.1%

Consumer Defensive

2.0%
0.7%

Utilities

1.6%

-

Real Estate

1.4%

-

Technology

AAXJ
49.4%
FLTW
78.7%

Financial Services

AAXJ
15.8%
FLTW
11.2%

Consumer Cyclical

AAXJ
8.9%
FLTW
1.5%

Industrials

AAXJ
7.3%
FLTW
3.3%

Communication Services

AAXJ
5.9%
FLTW
1.4%

Basic Materials

AAXJ
3.1%
FLTW
2.5%

Healthcare

AAXJ
2.6%
FLTW
0.6%

Energy

AAXJ
2.2%
FLTW
0.1%

Consumer Defensive

AAXJ
2.0%
FLTW
0.7%

Utilities

AAXJ
1.6%
FLTW

-

Real Estate

AAXJ
1.4%
FLTW

-

Compare stocks, funds, or ETFs

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iShares MSCI All Country Asia ex-Japan ETF

Franklin FTSE Taiwan ETF

Often compared with AAXJ:
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Often compared with FLTW:
FLTW vs. EWTFLTW vs. VOOFLTW vs. FLGRFLTW vs. EMMFFLTW vs. SCHDFLTW vs. VXUSFLTW vs. TWN

Return for Risk

AAXJ vs. FLTW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AAXJ
AAXJ Risk / Return Rank: 6868
Overall Rank
AAXJ Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
AAXJ Sortino Ratio Rank: 5858
Sortino Ratio Rank
AAXJ Omega Ratio Rank: 7070
Omega Ratio Rank
AAXJ Calmar Ratio Rank: 7373
Calmar Ratio Rank
AAXJ Martin Ratio Rank: 7272
Martin Ratio Rank
FLTW
FLTW Risk / Return Rank: 9494
Overall Rank
FLTW Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
FLTW Sortino Ratio Rank: 9191
Sortino Ratio Rank
FLTW Omega Ratio Rank: 9393
Omega Ratio Rank
FLTW Calmar Ratio Rank: 9797
Calmar Ratio Rank
FLTW Martin Ratio Rank: 9595
Martin Ratio Rank
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. FLTW - 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 Franklin FTSE Taiwan ETF (FLTW). 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.

AAXJFLTWDifference
Sharpe ratioReturn per unit of total volatility
2.06
3.80

-1.75

Sortino ratioReturn per unit of downside risk
2.62
4.09

-1.47

Omega ratioGain probability vs. loss probability

1.39

1.60

-0.21

Calmar ratioReturn relative to maximum drawdown

3.52

10.17

-6.65

Martin ratioReturn relative to average drawdown

12.86

30.39

-17.53

AAXJ vs. FLTW - Sharpe Ratio Comparison

The current AAXJ Sharpe Ratio is 2.06, which is lower than the FLTW Sharpe Ratio of 3.80. The chart below compares the historical Sharpe Ratios of AAXJ and FLTW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

AAXJ vs. FLTW - Drawdown Comparison

The maximum AAXJ drawdown since its inception was -49.37%, which is greater than FLTW's maximum drawdown of -38.00%. Use the drawdown chart below to compare losses from any high point for AAXJ and FLTW.

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Drawdown Indicators

AAXJFLTWDifference

Max Drawdown

Largest peak-to-trough decline

-49.37%

-38.00%

-11.37%

Max Drawdown (1Y)

Largest decline over 1 year

-13.66%

-10.87%

-2.79%

Max Drawdown (3Y)

Largest decline over 3 years

-19.74%

-26.45%

+6.71%

Max Drawdown (5Y)

Largest decline over 5 years

-40.64%

-38.00%

-2.64%

Max Drawdown (10Y)

Largest decline over 10 years

-44.52%

—

—

Current Drawdown

Current decline from peak

-6.03%

-5.93%

-0.10%

Average Drawdown

Average peak-to-trough decline

-14.00%

-8.41%

-5.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.73%

3.63%

+0.10%

Volatility

AAXJ vs. FLTW - Volatility Comparison

The current volatility for iShares MSCI All Country Asia ex-Japan ETF (AAXJ) is 13.43%, while Franklin FTSE Taiwan ETF (FLTW) has a volatility of 16.14%. This indicates that AAXJ experiences smaller price fluctuations and is considered to be less risky than FLTW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AAXJFLTWDifference

Volatility (1M)

Calculated over the trailing 1-month period

13.43%

16.14%

-2.71%

Volatility (6M)

Calculated over the trailing 6-month period

21.20%

25.07%

-3.87%

Volatility (1Y)

Calculated over the trailing 1-year period

23.39%

29.07%

-5.68%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.63%

23.23%

-2.60%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.51%

22.20%

-1.69%

AAXJ vs. FLTW - Expense Ratio Comparison

AAXJ has a 0.68% expense ratio, which is higher than FLTW's 0.19% expense ratio.

Dividends

AAXJ vs. FLTW - Dividend Comparison

AAXJ's dividend yield for the trailing twelve months is around 1.32%, less than FLTW's 1.42% yield.

PositionTTM20252024202320222021202020192018201720162015
AAXJ
iShares MSCI All Country Asia ex-Japan ETF		1.32%1.81%1.86%1.95%1.74%2.21%1.06%1.83%2.10%1.99%1.77%2.44%
FLTW
Franklin FTSE Taiwan ETF		1.42%2.51%1.89%2.85%3.16%2.31%2.14%3.00%1.06%0.00%0.00%0.00%

Frequently Asked Questions

AAXJ and FLTW have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FLTW has higher volatility (16.14%) compared to AAXJ (13.43%). In terms of maximum drawdown, AAXJ dropped -49.37% vs FLTW's -38.00%.

On 5-year performance, FLTW leads with 21.46% vs 6.42% for AAXJ. On fees, FLTW is cheaper at 0.19% per year. On volatility, AAXJ has been the lower-risk option at 13.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FLTW has performed better with a 21.46% return vs 6.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FLTW is cheaper with a 0.19% expense ratio, compared with 0.68% for AAXJ.

FLTW has the higher dividend yield at 1.42%, compared with 1.32% for AAXJ.

AAXJ tracks MSCI All Country Asia ex Japan Index, while FLTW tracks FTSE Taiwan RIC Capped Index. They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.68% for AAXJ and 0.19% for FLTW.

FLTW currently has the higher Sharpe Ratio (3.80 vs 2.06), 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.

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