ADVE vs. AAXJ

Last updated Jun 3, 2026

ADVE (Matthews Asia Dividend Active ETF) and AAXJ (iShares MSCI All Country Asia ex-Japan ETF) are both Asia Pacific Equities funds. ADVE is actively managed, while AAXJ is passively managed. Over the past year, ADVE returned 42.25% vs 60.93% for AAXJ. Their correlation of 0.90 suggests significant overlap in exposure. ADVE charges 0.79%/yr vs 0.68%/yr for AAXJ.

Performance

ADVE vs. AAXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Asia Dividend Active ETF (ADVE) and iShares MSCI All Country Asia ex-Japan ETF (AAXJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADVE achieves a 22.27% return, which is significantly lower than AAXJ's 32.58% return.

ADVE

• 1D: 1.38%
• 1M: 5.22%
• YTD: 22.27%
• 6M: 24.39%
• 1Y: 42.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAXJ

• 1D: 0.96%
• 1M: 12.09%
• YTD: 32.58%
• 6M: 35.11%
• 1Y: 60.93%
• 3Y*: 24.93%
• 5Y*: 7.46%
• 10Y*: 10.62%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ADVE vs. AAXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ADVE Matthews Asia Dividend Active ETF	22.27%	26.12%	7.02%	5.13%
AAXJ iShares MSCI All Country Asia ex-Japan ETF	32.58%	31.53%	10.41%	5.09%

Correlation

The correlation between ADVE and AAXJ is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Sep 25, 2023	0.90

The correlation between ADVE and AAXJ has been stable across timeframes, ranging from 0.90 to 0.90 - a consistent structural relationship.

ADVE vs. AAXJ - Sectors Allocation Comparison

Sectors	ADVE	AAXJ
Technology	29.0%	41.6%
Financial Services	27.3%	17.7%
Industrials	13.6%	8.3%
Communication Services	9.5%	6.9%
Consumer Cyclical	6.9%	10.3%
Real Estate	4.0%	1.7%
Basic Materials	3.4%	3.5%
Consumer Defensive	2.9%	2.4%
Energy	1.2%	2.7%
Utilities	1.1%	1.8%
Healthcare	1.1%	3.0%

Return for Risk

ADVE vs. AAXJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ADVE

ADVE Risk / Return Rank: 76
ADVE Sharpe Ratio Rank: 76
ADVE Sortino Ratio Rank: 77
ADVE Omega Ratio Rank: 78
ADVE Calmar Ratio Rank: 73
ADVE Martin Ratio Rank: 75

AAXJ

AAXJ Risk / Return Rank: 86
AAXJ Sharpe Ratio Rank: 89
AAXJ Sortino Ratio Rank: 85
AAXJ Omega Ratio Rank: 88
AAXJ Calmar Ratio Rank: 84
AAXJ Martin Ratio Rank: 85

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.

ADVE vs. AAXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Asia Dividend Active ETF (ADVE) and iShares MSCI All Country Asia ex-Japan ETF (AAXJ). 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.

	ADVE	AAXJ	Difference
Sharpe ratio Return per unit of total volatility	2.52	3.03	-0.51
Sortino ratio Return per unit of downside risk	3.50	3.88	-0.38
Omega ratio Gain probability vs. loss probability	1.47	1.55	-0.07
Calmar ratio Return relative to maximum drawdown	3.71	4.58	-0.87
Martin ratio Return relative to average drawdown	14.74	17.71	-2.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ADVE vs. AAXJ - Sharpe Ratio Comparison

The current ADVE Sharpe Ratio is 2.52, which is comparable to the AAXJ Sharpe Ratio of 3.03. The chart below compares the historical Sharpe Ratios of ADVE and AAXJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ADVE	AAXJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	3.03	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.38	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.46	0.29	+1.17

Drawdowns

ADVE vs. AAXJ - Drawdown Comparison

The maximum ADVE drawdown since its inception was -18.41%, smaller than the maximum AAXJ drawdown of -49.37%. Use the drawdown chart below to compare losses from any high point for ADVE and AAXJ.

Drawdown Indicators

	ADVE	AAXJ	Difference
Max Drawdown Largest peak-to-trough decline	-18.41%	-49.37%	+30.96%
Max Drawdown (1Y) Largest decline over 1 year	-11.73%	-13.66%	+1.93%
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 Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.15%	-14.03%	+10.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	3.53%	-0.58%

Volatility

ADVE vs. AAXJ - Volatility Comparison

The current volatility for Matthews Asia Dividend Active ETF (ADVE) is 5.98%, while iShares MSCI All Country Asia ex-Japan ETF (AAXJ) has a volatility of 8.78%. This indicates that ADVE experiences smaller price fluctuations and is considered to be less risky than AAXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADVE	AAXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.98%	8.78%	-2.80%
Volatility (6M) Calculated over the trailing 6-month period	14.40%	17.42%	-3.02%
Volatility (1Y) Calculated over the trailing 1-year period	16.88%	20.23%	-3.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.69%	19.94%	-4.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.69%	20.25%	-4.56%

ADVE vs. AAXJ - Expense Ratio Comparison

ADVE has a 0.79% expense ratio, which is higher than AAXJ's 0.68% expense ratio.

Dividends

ADVE vs. AAXJ - Dividend Comparison

ADVE's dividend yield for the trailing twelve months is around 2.44%, more than AAXJ's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAXJ iShares MSCI All Country Asia ex-Japan ETF	1.36%	1.81%	1.86%	1.95%	1.74%	2.21%	1.06%	1.83%	2.10%	1.99%	1.77%	2.44%
ADVE Matthews Asia Dividend Active ETF	2.44%	2.97%	6.00%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ADVE and AAXJ in my portfolio?

With a correlation of 0.90, ADVE and AAXJ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ADVE or AAXJ?

AAXJ has higher volatility (8.78%) compared to ADVE (5.98%). In terms of maximum drawdown, ADVE dropped -18.41% vs AAXJ's -49.37%.

Which ETF is better, ADVE or AAXJ?

On 1-year performance, AAXJ leads with 60.93% vs 42.25% for ADVE. On fees, AAXJ is cheaper at 0.68% per year. On volatility, ADVE has been the lower-risk option at 5.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ADVE or AAXJ?

Over the 1-year period, AAXJ has performed better with a 60.93% return vs 42.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ADVE or AAXJ?

AAXJ is cheaper with a 0.68% expense ratio, compared with 0.79% for ADVE.

Which ETF pays a higher dividend yield, ADVE or AAXJ?

ADVE has the higher dividend yield at 2.44%, compared with 1.36% for AAXJ.

What is the main difference between ADVE and AAXJ?

They also come from different issuers: Matthews and iShares. Their fees differ too: 0.79% for ADVE and 0.68% for AAXJ.

Which has better risk-adjusted returns?

AAXJ currently has the higher Sharpe Ratio (3.03 vs 2.52), 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.