AAXJ vs. PPL.TO
AAXJ (iShares MSCI All Country Asia ex-Japan ETF) is Asia Pacific Equities fund tracking the MSCI All Country Asia ex Japan Index, while PPL.TO (Pembina Pipeline Corporation) is a stock. Over the past 10 years, AAXJ returned 10.34%/yr vs 10.60%/yr for PPL.TO. At a 0.29 correlation, their price movements are largely independent.
Performance
AAXJ vs. PPL.TO - Performance Comparison
Loading charts...
Different Trading Currencies
AAXJ is traded in USD, while PPL.TO is traded in CAD. To make them comparable, the PPL.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, AAXJ achieves a 26.46% return, which is significantly lower than PPL.TO's 28.18% return. Both investments have delivered pretty close results over the past 10 years, with AAXJ having a 10.34% annualized return and PPL.TO not far ahead at 10.60%.
AAXJ
- 1D
- 0.46%
- 1M
- 0.61%
- YTD
- 26.46%
- 6M
- 29.76%
- 1Y
- 48.69%
- 3Y*
- 22.11%
- 5Y*
- 6.41%
- 10Y*
- 10.34%
PPL.TO
- 1D
- -0.64%
- 1M
- -1.43%
- YTD
- 28.18%
- 6M
- 26.37%
- 1Y
- 32.53%
- 3Y*
- 22.00%
- 5Y*
- 13.84%
- 10Y*
- 10.60%
AAXJ vs. PPL.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AAXJ iShares MSCI All Country Asia ex-Japan ETF | 26.46% | 31.53% | 10.41% | 4.79% | -20.35% | -5.73% | 23.35% | 17.93% | -15.04% | 41.76% |
PPL.TO Pembina Pipeline Corporation | 28.18% | 8.72% | 13.13% | 8.13% | 19.09% | 36.19% | -30.75% | 30.11% | -13.55% | 22.01% |
Correlation
The correlation between AAXJ and PPL.TO is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2008 | 0.29 |
The correlation between AAXJ and PPL.TO shifts across timeframes, from -0.09 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AAXJ vs. PPL.TO — Risk / Return Rank
AAXJ
PPL.TO
AAXJ vs. PPL.TO - 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 Pembina Pipeline Corporation (PPL.TO). 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 | PPL.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.31 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.41 | 2.80 | +0.61 |
| Martin ratioReturn relative to average drawdown | 12.55 | 6.47 | +6.08 |
Loading charts...
Drawdowns
AAXJ vs. PPL.TO - Drawdown Comparison
The maximum AAXJ drawdown since its inception was -49.37%, smaller than the maximum PPL.TO drawdown of -71.00%. Use the drawdown chart below to compare losses from any high point for AAXJ and PPL.TO.
Loading charts...
Drawdown Indicators
| AAXJ | PPL.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.37% | -71.00% | +21.63% |
Max Drawdown (1Y)Largest decline over 1 year | -13.66% | -12.40% | -1.26% |
Max Drawdown (3Y)Largest decline over 3 years | -19.74% | -19.03% | -0.71% |
Max Drawdown (5Y)Largest decline over 5 years | -40.64% | -26.90% | -13.74% |
Max Drawdown (10Y)Largest decline over 10 years | -44.52% | -71.00% | +26.48% |
Current DrawdownCurrent decline from peak | -4.62% | -2.65% | -1.97% |
Average DrawdownAverage peak-to-trough decline | -14.01% | -14.11% | +0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.71% | 5.35% | -1.64% |
Volatility
AAXJ vs. PPL.TO - Volatility Comparison
iShares MSCI All Country Asia ex-Japan ETF (AAXJ) has a higher volatility of 11.46% compared to Pembina Pipeline Corporation (PPL.TO) at 6.14%. This indicates that AAXJ's price experiences larger fluctuations and is considered to be riskier than PPL.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AAXJ | PPL.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.46% | 6.14% | +5.32% |
Volatility (6M)Calculated over the trailing 6-month period | 19.71% | 13.80% | +5.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.12% | 19.58% | +2.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.32% | 19.85% | +0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.42% | 31.56% | -11.14% |
Dividends
AAXJ vs. PPL.TO - Dividend Comparison
AAXJ's dividend yield for the trailing twelve months is around 1.43%, less than PPL.TO's 4.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAXJ iShares MSCI All Country Asia ex-Japan ETF | 1.43% | 1.81% | 1.86% | 1.95% | 1.74% | 2.21% | 1.06% | 1.83% | 2.10% | 1.99% | 1.77% | 2.44% |
PPL.TO Pembina Pipeline Corporation | 4.20% | 5.39% | 5.15% | 5.82% | 5.55% | 6.57% | 8.37% | 4.90% | 5.53% | 4.48% | 4.52% | 5.97% |
Frequently Asked Questions
AAXJ and PPL.TO have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for AAXJ and PPL.TO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer