AAXJ vs. SOBO.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 SOBO.TO (South Bow Corp) is a stock. Over the past year, AAXJ returned 48.69% vs 51.18% for SOBO.TO. At a 0.03 correlation, their price movements are largely independent.
Performance
AAXJ vs. SOBO.TO - Performance Comparison
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Different Trading Currencies
AAXJ is traded in USD, while SOBO.TO is traded in CAD. To make them comparable, the SOBO.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 SOBO.TO's 40.47% return.
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%
SOBO.TO
- 1D
- 1.07%
- 1M
- 2.17%
- YTD
- 40.47%
- 6M
- 44.56%
- 1Y
- 51.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AAXJ vs. SOBO.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AAXJ iShares MSCI All Country Asia ex-Japan ETF | 26.46% | 31.53% | -5.46% |
SOBO.TO South Bow Corp | 40.47% | 25.61% | 15.72% |
Correlation
The correlation between AAXJ and SOBO.TO is -0.05, 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 | -0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024 | 0.03 |
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Return for Risk
AAXJ vs. SOBO.TO — Risk / Return Rank
AAXJ
SOBO.TO
AAXJ vs. SOBO.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 South Bow Corp (SOBO.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 | SOBO.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.41 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.41 | 4.00 | -0.59 |
| Martin ratioReturn relative to average drawdown | 12.55 | 11.44 | +1.11 |
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Drawdowns
AAXJ vs. SOBO.TO - Drawdown Comparison
The maximum AAXJ drawdown since its inception was -49.37%, which is greater than SOBO.TO's maximum drawdown of -27.09%. Use the drawdown chart below to compare losses from any high point for AAXJ and SOBO.TO.
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Drawdown Indicators
| AAXJ | SOBO.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.37% | -27.09% | -22.28% |
Max Drawdown (1Y)Largest decline over 1 year | -13.66% | -12.68% | -0.98% |
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 DrawdownCurrent decline from peak | -4.62% | -0.27% | -4.35% |
Average DrawdownAverage peak-to-trough decline | -14.01% | -4.27% | -9.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.71% | 4.44% | -0.73% |
Volatility
AAXJ vs. SOBO.TO - Volatility Comparison
iShares MSCI All Country Asia ex-Japan ETF (AAXJ) has a higher volatility of 11.46% compared to South Bow Corp (SOBO.TO) at 7.11%. This indicates that AAXJ's price experiences larger fluctuations and is considered to be riskier than SOBO.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAXJ | SOBO.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.46% | 7.11% | +4.35% |
Volatility (6M)Calculated over the trailing 6-month period | 19.71% | 14.83% | +4.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.12% | 20.22% | +1.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.32% | 44.59% | -24.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.42% | 44.59% | -24.17% |
Dividends
AAXJ vs. SOBO.TO - Dividend Comparison
AAXJ's dividend yield for the trailing twelve months is around 1.43%, less than SOBO.TO's 5.18% 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% |
SOBO.TO South Bow Corp | 5.18% | 7.37% | 2.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AAXJ and SOBO.TO have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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