AAXJ vs. UTHY
AAXJ (iShares MSCI All Country Asia ex-Japan ETF) and UTHY (US Treasury 30 Year Bond ETF) are both exchange-traded funds - AAXJ is a Asia Pacific Equities fund tracking the MSCI All Country Asia ex Japan Index, while UTHY is a Government Bonds fund tracking the ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, AAXJ returned 22.11%/yr vs -1.74%/yr for UTHY. At a 0.11 correlation, their price movements are largely independent. AAXJ charges 0.68%/yr vs 0.15%/yr for UTHY.
Performance
AAXJ vs. UTHY - Performance Comparison
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Returns By Period
In the year-to-date period, AAXJ achieves a 26.46% return, which is significantly higher than UTHY's 0.07% 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%
UTHY
- 1D
- -0.30%
- 1M
- 2.80%
- YTD
- 0.07%
- 6M
- 0.39%
- 1Y
- 3.41%
- 3Y*
- -1.74%
- 5Y*
- —
- 10Y*
- —
AAXJ vs. UTHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AAXJ iShares MSCI All Country Asia ex-Japan ETF | 26.46% | 31.53% | 10.41% | 2.40% |
UTHY US Treasury 30 Year Bond ETF | 0.07% | 3.47% | -8.07% | -2.77% |
Correlation
The correlation between AAXJ and UTHY is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2023 | 0.11 |
The correlation between AAXJ and UTHY shifts across timeframes, from 0.11 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AAXJ vs. UTHY — Risk / Return Rank
AAXJ
UTHY
AAXJ vs. UTHY - 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 US Treasury 30 Year Bond ETF (UTHY). 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 | UTHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.84 | ||
| Sortino ratioReturn per unit of downside risk | +2.29 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.05 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 3.41 | 0.33 | +3.08 |
| Martin ratioReturn relative to average drawdown | 12.55 | 0.81 | +11.74 |
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Drawdowns
AAXJ vs. UTHY - Drawdown Comparison
The maximum AAXJ drawdown since its inception was -49.37%, which is greater than UTHY's maximum drawdown of -21.86%. Use the drawdown chart below to compare losses from any high point for AAXJ and UTHY.
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Drawdown Indicators
| AAXJ | UTHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.37% | -21.86% | -27.51% |
Max Drawdown (1Y)Largest decline over 1 year | -13.66% | -7.34% | -6.32% |
Max Drawdown (3Y)Largest decline over 3 years | -19.74% | -18.58% | -1.16% |
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% | -11.07% | +6.45% |
Average DrawdownAverage peak-to-trough decline | -14.01% | -10.71% | -3.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.71% | 3.00% | +0.71% |
Volatility
AAXJ vs. UTHY - Volatility Comparison
iShares MSCI All Country Asia ex-Japan ETF (AAXJ) has a higher volatility of 11.46% compared to US Treasury 30 Year Bond ETF (UTHY) at 2.79%. This indicates that AAXJ's price experiences larger fluctuations and is considered to be riskier than UTHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAXJ | UTHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.46% | 2.79% | +8.67% |
Volatility (6M)Calculated over the trailing 6-month period | 19.71% | 6.36% | +13.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.12% | 9.33% | +12.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.32% | 13.62% | +6.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.42% | 13.62% | +6.80% |
AAXJ vs. UTHY - Expense Ratio Comparison
AAXJ has a 0.68% expense ratio, which is higher than UTHY's 0.15% expense ratio.
Dividends
AAXJ vs. UTHY - Dividend Comparison
AAXJ's dividend yield for the trailing twelve months is around 1.43%, less than UTHY's 4.62% 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% |
UTHY US Treasury 30 Year Bond ETF | 4.62% | 4.53% | 4.58% | 2.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AAXJ and UTHY have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAXJ has higher volatility (11.46%) compared to UTHY (2.79%). In terms of maximum drawdown, AAXJ dropped -49.37% vs UTHY's -21.86%.
On 3-year performance, AAXJ leads with 22.11% vs -1.74% for UTHY. On fees, UTHY is cheaper at 0.15% per year. On volatility, UTHY has been the lower-risk option at 2.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AAXJ has performed better with a 22.11% return vs -1.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UTHY is cheaper with a 0.15% expense ratio, compared with 0.68% for AAXJ.
UTHY has the higher dividend yield at 4.62%, compared with 1.43% for AAXJ.
AAXJ is categorized as Asia Pacific Equities, while UTHY is Government Bonds. AAXJ tracks MSCI All Country Asia ex Japan Index, while UTHY tracks ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross. They also come from different issuers: iShares and US Benchmark Series. Their fees differ too: 0.68% for AAXJ and 0.15% for UTHY.
AAXJ currently has the higher Sharpe Ratio (2.11 vs 0.26), 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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