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 12.29%/yr vs 10.50%/yr for AAXJ. At a 0.36 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 -10.14% return, which is significantly lower than AAXJ's 31.17% return. Over the past 10 years, AON has outperformed AAXJ with an annualized return of 12.29%, while AAXJ has yielded a comparatively lower 10.50% annualized return.
AON
- 1D
- -0.71%
- 1M
- 0.22%
- YTD
- -10.14%
- 6M
- -7.94%
- 1Y
- -14.96%
- 3Y*
- 1.04%
- 5Y*
- 5.52%
- 10Y*
- 12.29%
AAXJ
- 1D
- -1.06%
- 1M
- 10.65%
- YTD
- 31.17%
- 6M
- 33.71%
- 1Y
- 59.00%
- 3Y*
- 24.49%
- 5Y*
- 7.04%
- 10Y*
- 10.50%
AON vs. AAXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AON Aon plc | -10.14% | -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 | 31.17% | 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 -0.20, 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 | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2008 | 0.36 |
The correlation between AON and AAXJ shifts across timeframes, from -0.20 (1 year) to 0.36 (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.
| AON | AAXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.56 | ||
| Sortino ratioReturn per unit of downside risk | -4.51 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.53 | -0.63 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 4.34 | -5.21 |
| Martin ratioReturn relative to average drawdown | -1.62 | 16.76 | -18.38 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AON | AAXJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.63 | 2.93 | -3.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.35 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.52 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.28 | +0.14 |
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% | -40.74% | +15.36% |
Max Drawdown (10Y)Largest decline over 10 years | -38.73% | -44.52% | +5.79% |
Current DrawdownCurrent decline from peak | -22.03% | -1.06% | -20.97% |
Average DrawdownAverage peak-to-trough decline | -13.67% | -14.03% | +0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.29% | 3.53% | +5.76% |
Volatility
AON vs. AAXJ - Volatility Comparison
The current volatility for Aon plc (AON) is 5.77%, while iShares MSCI All Country Asia ex-Japan ETF (AAXJ) has a volatility of 8.93%. 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 | 5.77% | 8.93% | -3.16% |
Volatility (6M)Calculated over the trailing 6-month period | 19.33% | 17.46% | +1.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.72% | 20.25% | +3.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.08% | 19.94% | +3.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.43% | 20.25% | +3.18% |
Dividends
AON vs. AAXJ - Dividend Comparison
AON's dividend yield for the trailing twelve months is around 0.97%, less than AAXJ's 1.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAXJ iShares MSCI All Country Asia ex-Japan ETF | 1.38% | 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 | 0.97% | 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 -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAXJ has higher volatility (8.93%) compared to AON (5.77%). In terms of maximum drawdown, AON dropped -69.05% vs AAXJ's -49.37%.
AAXJ currently has the higher Sharpe Ratio (2.93 vs -0.63), 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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