AIA vs. DXJ

Last updated Aug 2, 2026

AIA (iShares Asia 50 ETF) and DXJ (WisdomTree Japan Hedged Equity Fund) are both exchange-traded funds - AIA is a Asia Pacific Equities fund tracking the S&P Asia 50 Index, while DXJ is a Japan Equities fund tracking the WisdomTree Japan Hedged Equity Index. Both are passively managed. Over the past 10 years, AIA returned 13.37%/yr vs 19.00%/yr for DXJ. Their 0.56 correlation means they have sometimes moved together and sometimes differently. AIA charges 0.50%/yr vs 0.48%/yr for DXJ.

Performance

AIA vs. DXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Asia 50 ETF (AIA) and WisdomTree Japan Hedged Equity Fund (DXJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIA achieves a 37.37% return, which is significantly higher than DXJ's 21.25% return. Over the past 10 years, AIA has underperformed DXJ with an annualized return of 13.37%, while DXJ has yielded a comparatively higher 19.00% annualized return.

AIA

• 1D: 1.38%
• 1M: -0.63%
• 6M: 22.48%
• YTD: 37.37%
• 1Y: 66.32%
• 3Y*: 32.09%
• 5Y*: 12.22%
• 10Y*: 13.37%
• ALL TIME*: 7.82%

DXJ

• 1D: -0.73%
• 1M: -0.63%
• 6M: 14.45%
• YTD: 21.25%
• 1Y: 49.27%
• 3Y*: 30.10%
• 5Y*: 27.38%
• 10Y*: 19.00%
• ALL TIME*: 9.44%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AIA iShares Asia 50 ETF	$72.11M	$68.43M	$74.19M
DXJ WisdomTree Japan Hedged Equity Fund	$66.09M	$60.67M	$58.46M

AIA vs. DXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AIA iShares Asia 50 ETF	37.37%	47.79%	20.26%	4.32%	-24.08%	-10.91%	33.73%	22.21%	-14.22%	45.00%
DXJ WisdomTree Japan Hedged Equity Fund	21.25%	32.78%	29.83%	42.04%	5.96%	17.99%	3.94%	18.94%	-19.78%	22.81%

Correlation

The correlation between AIA and DXJ is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.47
Correlation (3Y) Balances recent behavior with more history.	0.40
Correlation (5Y) Shows whether the relationship held over a longer period.	0.43
Correlation (10Y) Provides a long-term view across more market conditions.	0.49
Correlation (All Time) Calculated using the full available price history since Nov 20, 2007	0.56

The correlation between AIA and DXJ shifts across timeframes, from 0.40 (3 years) to 0.56 (all time), reflecting how their relationship changes across market environments.

AIA vs. DXJ - Sectors Allocation Comparison

Sectors	AIA	DXJ
Technology	57.5%	12.9%
Financial Services	20.6%	18.3%
Consumer Cyclical	9.5%	13.3%
Communication Services	7.2%	2.3%
Industrials	2.0%	29.5%
Healthcare	0.9%	6.8%
Energy	0.6%	1.7%
Real Estate	0.5%	-
Basic Materials	0.5%	9.1%
Consumer Defensive	-	4.7%
Utilities	-	0.1%

Return for Risk

AIA vs. DXJ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AIA

AIA Risk / Return Rank: 84
AIA Sharpe Ratio Rank: 86
AIA Sortino Ratio Rank: 78
AIA Omega Ratio Rank: 83
AIA Calmar Ratio Rank: 90
AIA Martin Ratio Rank: 85

DXJ

DXJ Risk / Return Rank: 93
DXJ Sharpe Ratio Rank: 94
DXJ Sortino Ratio Rank: 92
DXJ Omega Ratio Rank: 93
DXJ Calmar Ratio Rank: 92
DXJ Martin Ratio Rank: 92

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AIA vs. DXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Asia 50 ETF (AIA) and WisdomTree Japan Hedged Equity Fund (DXJ). 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.

	AIA	DXJ	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.61	-0.58
Sortino ratio: Return per unit of downside risk	2.52	3.40	-0.88
Omega ratio: Gain probability vs. loss probability	1.35	1.46	-0.11
Calmar ratio: Return relative to maximum drawdown	3.81	4.30	-0.49
Martin ratio: Return relative to average drawdown	12.04	16.08	-4.04

AIA vs. DXJ - Sharpe Ratio Comparison

The current AIA Sharpe Ratio is 2.03, which is comparable to the DXJ Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of AIA and DXJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AIA vs. DXJ - Drawdown Comparison

The maximum AIA drawdown since its inception was -60.89%, which is greater than DXJ's maximum drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for AIA and DXJ.

Drawdown Indicators

	AIA	DXJ	Difference
Max Drawdown Largest peak-to-trough decline	-60.89%	-49.63%	-11.26%
Max Drawdown (1Y) Largest decline over 1 year	-16.83%	-10.98%	-5.85%
Max Drawdown (3Y) Largest decline over 3 years	-21.64%	-22.19%	+0.55%
Max Drawdown (5Y) Largest decline over 5 years	-45.99%	-22.19%	-23.80%
Max Drawdown (10Y) Largest decline over 10 years	-54.64%	-39.14%	-15.50%
Current Drawdown Current decline from peak	-11.13%	-3.40%	-7.73%
Average Drawdown Average peak-to-trough decline	-16.61%	-14.24%	-2.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.32%	2.93%	+2.39%

Volatility

AIA vs. DXJ - Volatility Comparison

iShares Asia 50 ETF (AIA) has a higher volatility of 11.50% compared to WisdomTree Japan Hedged Equity Fund (DXJ) at 6.07%. This indicates that AIA's price experiences larger fluctuations and is considered to be riskier than DXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIA	DXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.50%	6.07%	+5.43%
Volatility (6M) Calculated over the trailing 6-month period	28.26%	14.35%	+13.91%
Volatility (1Y) Calculated over the trailing 1-year period	31.64%	18.07%	+13.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.69%	19.07%	+7.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.17%	19.93%	+4.24%

AIA vs. DXJ - Expense Ratio Comparison

AIA has a 0.50% expense ratio, which is higher than DXJ's 0.48% expense ratio.

Dividends

AIA vs. DXJ - Dividend Comparison

AIA's dividend yield for the trailing twelve months is around 1.60%, more than DXJ's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIA iShares Asia 50 ETF	1.60%	2.50%	2.78%	2.07%	2.59%	1.54%	1.11%	2.24%	2.49%	1.45%	2.29%	2.88%
DXJ WisdomTree Japan Hedged Equity Fund	0.97%	1.29%	3.48%	3.44%	3.02%	2.64%	2.53%	2.47%	2.92%	2.30%	1.98%	5.95%

Frequently Asked Questions

Can I hold both AIA and DXJ in my portfolio?

AIA and DXJ have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIA or DXJ?

AIA has higher volatility (11.50%) compared to DXJ (6.07%). In terms of maximum drawdown, AIA dropped -60.89% vs DXJ's -49.63%.

Which ETF is better, AIA or DXJ?

On 10-year performance, DXJ leads with 19.00% vs 13.37% for AIA. On fees, DXJ is cheaper at 0.48% per year. On volatility, DXJ has been the lower-risk option at 6.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIA or DXJ?

Over the 10-year period, DXJ has performed better with a 19.00% return vs 13.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIA or DXJ?

DXJ is cheaper with a 0.48% expense ratio, compared with 0.50% for AIA.

Which ETF pays a higher dividend yield, AIA or DXJ?

AIA has the higher dividend yield at 1.60%, compared with 0.97% for DXJ.

What is the main difference between AIA and DXJ?

AIA is categorized as Asia Pacific Equities, while DXJ is Japan Equities. AIA tracks S&P Asia 50 Index, while DXJ tracks WisdomTree Japan Hedged Equity Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.50% for AIA and 0.48% for DXJ.

Which has better risk-adjusted returns?

DXJ currently has the higher Sharpe Ratio (2.61 vs 2.03), 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.