AON vs. AAXJ
AON (Aon plc) is a stock, while AAXJ (iShares MSCI All Country Asia ex-Japan ETF) is Asia Pacific Equities fund tracking the MSCI All Country Asia ex Japan Index. Over the past 10 years, AON returned 13.86%/yr vs 8.86%/yr for AAXJ. At a 0.35 correlation, their price movements are largely independent.
Performance
AON vs. AAXJ - Performance Comparison
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Returns By Period
In the year-to-date period, AON achieves a 4.96% return, which is significantly lower than AAXJ's 19.96% return. Over the past 10 years, AON has outperformed AAXJ with an annualized return of 13.86%, while AAXJ has yielded a comparatively lower 8.86% annualized return.
AON
- 1D
- 3.80%
- 1M
- 11.22%
- 6M
- 7.41%
- YTD
- 4.96%
- 1Y
- 4.91%
- 3Y*
- 3.86%
- 5Y*
- 10.61%
- 10Y*
- 13.86%
AAXJ
- 1D
- -2.22%
- 1M
- -6.65%
- 6M
- 12.59%
- YTD
- 19.96%
- 1Y
- 34.43%
- 3Y*
- 19.63%
- 5Y*
- 5.93%
- 10Y*
- 8.86%
AON vs. AAXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AON Aon plc | 4.96% | -0.94% | 24.45% | -2.31% | 0.61% | 43.39% | 2.37% | 44.68% | 9.94% | 21.49% |
AAXJ iShares MSCI All Country Asia ex-Japan ETF | 19.96% | 31.53% | 10.41% | 4.79% | -20.35% | -5.73% | 23.35% | 17.93% | -15.04% | 41.76% |
Correlation
The correlation between AON and AAXJ is -0.31, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2008 | 0.35 |
The correlation between AON and AAXJ shifts across timeframes, from -0.31 (1 year) to 0.35 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
AON vs. AAXJ — Risk / Return Rank
AON
AAXJ
AON vs. AAXJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aon plc (AON) 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.
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.
| AON | AAXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.22 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.27 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.29 | 2.53 | -2.25 |
| Martin ratioReturn relative to average drawdown | 0.51 | 8.33 | -7.82 |
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Drawdowns
AON vs. AAXJ - Drawdown Comparison
The maximum AON drawdown since its inception was -69.05%, which is greater than AAXJ's maximum drawdown of -49.37%. Use the drawdown chart below to compare losses from any high point for AON and AAXJ.
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Drawdown Indicators
| AON | AAXJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.05% | -49.37% | -19.68% |
Max Drawdown (1Y)Largest decline over 1 year | -17.28% | -13.66% | -3.62% |
Max Drawdown (3Y)Largest decline over 3 years | -23.84% | -19.74% | -4.10% |
Max Drawdown (5Y)Largest decline over 5 years | -25.38% | -38.49% | +13.11% |
Max Drawdown (10Y)Largest decline over 10 years | -38.73% | -44.52% | +5.79% |
Current DrawdownCurrent decline from peak | -8.93% | -10.39% | +1.46% |
Average DrawdownAverage peak-to-trough decline | -13.67% | -13.97% | +0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.71% | 4.14% | +5.57% |
Volatility
AON vs. AAXJ - Volatility Comparison
The current volatility for Aon plc (AON) is 10.12%, while iShares MSCI All Country Asia ex-Japan ETF (AAXJ) has a volatility of 10.80%. This indicates that AON 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.
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Volatility by Period
| AON | AAXJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.12% | 10.80% | -0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 21.46% | 22.29% | -0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.29% | 24.44% | +0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.35% | 20.85% | +2.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.56% | 20.60% | +2.96% |
Dividends
AON vs. AAXJ - Dividend Comparison
AON's dividend yield for the trailing twelve months is around 0.83%, less than AAXJ's 1.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAXJ iShares MSCI All Country Asia ex-Japan ETF | 1.39% | 1.81% | 1.86% | 1.95% | 1.74% | 2.21% | 1.06% | 1.83% | 2.10% | 1.99% | 1.77% | 2.44% |
AON Aon plc | 0.83% | 0.82% | 0.74% | 0.83% | 0.73% | 0.66% | 0.84% | 0.83% | 1.35% | 1.05% | 1.16% | 1.25% |
Frequently Asked Questions
AON and AAXJ have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAXJ has higher volatility (10.80%) compared to AON (10.12%). In terms of maximum drawdown, AON dropped -69.05% vs AAXJ's -49.37%.
AAXJ currently has the higher Sharpe Ratio (1.42 vs 0.20), 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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