AAXJ vs. IBIT
AAXJ (iShares MSCI All Country Asia ex-Japan ETF) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - AAXJ is a Asia Pacific Equities fund tracking the MSCI All Country Asia ex Japan Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, AAXJ returned 59.00% vs -38.74% for IBIT. At a 0.35 correlation, their price movements are largely independent. AAXJ charges 0.68%/yr vs 0.25%/yr for IBIT.
Performance
AAXJ vs. IBIT - Performance Comparison
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Returns By Period
In the year-to-date period, AAXJ achieves a 31.17% return, which is significantly higher than IBIT's -25.48% return.
AAXJ
- 1D
- -1.06%
- 1M
- 10.65%
- YTD
- 31.17%
- 6M
- 33.71%
- 1Y
- 59.00%
- 3Y*
- 24.49%
- 5Y*
- 7.04%
- 10Y*
- 10.50%
IBIT
- 1D
- -2.76%
- 1M
- -18.50%
- YTD
- -25.48%
- 6M
- -29.84%
- 1Y
- -38.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AAXJ vs. IBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AAXJ iShares MSCI All Country Asia ex-Japan ETF | 31.17% | 31.53% | 14.31% |
IBIT iShares Bitcoin Trust ETF | -25.48% | -6.41% | 99.21% |
Correlation
The correlation between AAXJ and IBIT is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2024 | 0.35 |
The correlation between AAXJ and IBIT shifts across timeframes, from 0.35 (all time) to 0.46 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AAXJ vs. IBIT — Risk / Return Rank
AAXJ
IBIT
AAXJ vs. IBIT - 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 iShares Bitcoin Trust ETF (IBIT). 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.
| AAXJ | IBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.82 | ||
| Sortino ratioReturn per unit of downside risk | +5.00 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 0.86 | +0.67 |
| Calmar ratioReturn relative to maximum drawdown | 4.34 | -0.79 | +5.13 |
| Martin ratioReturn relative to average drawdown | 16.76 | -1.36 | +18.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AAXJ | IBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.93 | -0.89 | +3.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.30 | -0.01 |
Drawdowns
AAXJ vs. IBIT - Drawdown Comparison
The maximum AAXJ drawdown since its inception was -49.37%, roughly equal to the maximum IBIT drawdown of -49.36%. Use the drawdown chart below to compare losses from any high point for AAXJ and IBIT.
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Drawdown Indicators
| AAXJ | IBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.37% | -49.36% | -0.01% |
Max Drawdown (1Y)Largest decline over 1 year | -13.66% | -49.36% | +35.70% |
Max Drawdown (3Y)Largest decline over 3 years | -19.74% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -40.74% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -44.52% | — | — |
Current DrawdownCurrent decline from peak | -1.06% | -48.10% | +47.04% |
Average DrawdownAverage peak-to-trough decline | -14.03% | -16.02% | +1.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 28.44% | -24.91% |
Volatility
AAXJ vs. IBIT - Volatility Comparison
The current volatility for iShares MSCI All Country Asia ex-Japan ETF (AAXJ) is 8.93%, while iShares Bitcoin Trust ETF (IBIT) has a volatility of 9.50%. This indicates that AAXJ experiences smaller price fluctuations and is considered to be less risky than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAXJ | IBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.93% | 9.50% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 17.46% | 34.44% | -16.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.25% | 43.73% | -23.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.94% | 50.19% | -30.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.25% | 50.19% | -29.94% |
AAXJ vs. IBIT - Expense Ratio Comparison
AAXJ has a 0.68% expense ratio, which is higher than IBIT's 0.25% expense ratio.
Dividends
AAXJ vs. IBIT - Dividend Comparison
AAXJ's dividend yield for the trailing twelve months is around 1.38%, while IBIT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAXJ iShares MSCI All Country Asia ex-Japan ETF | 1.38% | 1.81% | 1.86% | 1.95% | 1.74% | 2.21% | 1.06% | 1.83% | 2.10% | 1.99% | 1.77% | 2.44% |
IBIT iShares Bitcoin Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AAXJ and IBIT have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBIT has higher volatility (9.50%) compared to AAXJ (8.93%). In terms of maximum drawdown, AAXJ dropped -49.37% vs IBIT's -49.36%.
On 1-year performance, AAXJ leads with 59.00% vs -38.74% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, AAXJ has been the lower-risk option at 8.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AAXJ has performed better with a 59.00% return vs -38.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIT is cheaper with a 0.25% expense ratio, compared with 0.68% for AAXJ.
AAXJ has the higher dividend yield at 1.38%, compared with 0.00% for IBIT.
AAXJ is categorized as Asia Pacific Equities, while IBIT is Cryptocurrency. AAXJ tracks MSCI All Country Asia ex Japan Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. Their fees differ too: 0.68% for AAXJ and 0.25% for IBIT.
AAXJ currently has the higher Sharpe Ratio (2.93 vs -0.89), 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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