ASIAX vs. IASMX

Last updated Jul 14, 2026

ASIAX (Invesco EQV Asia Pacific Equity Fund) and IASMX (Guinness Atkinson Asia Focus Fund) are both Asia Pacific Equities funds. Over the past 10 years, ASIAX returned 7.91%/yr vs 8.26%/yr for IASMX. Their correlation of 0.82 suggests significant overlap in exposure. ASIAX charges 1.45%/yr vs 1.98%/yr for IASMX.

Performance

ASIAX vs. IASMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco EQV Asia Pacific Equity Fund (ASIAX) and Guinness Atkinson Asia Focus Fund (IASMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with ASIAX having a 13.12% return and IASMX slightly higher at 13.47%. Both investments have delivered pretty close results over the past 10 years, with ASIAX having a 7.91% annualized return and IASMX not far ahead at 8.26%.

ASIAX

• 1D: 0.45%
• 1M: -1.59%
• 6M: 8.08%
• YTD: 13.12%
• 1Y: 31.35%
• 3Y*: 15.05%
• 5Y*: 5.88%
• 10Y*: 7.91%

IASMX

• 1D: 0.00%
• 1M: -1.46%
• 6M: 8.09%
• YTD: 13.47%
• 1Y: 26.89%
• 3Y*: 14.79%
• 5Y*: 1.97%
• 10Y*: 8.26%

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

ASIAX vs. IASMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASIAX Invesco EQV Asia Pacific Equity Fund	13.12%	24.56%	9.59%	0.87%	-10.82%	-6.10%	25.76%	17.78%	-11.50%	29.13%
IASMX Guinness Atkinson Asia Focus Fund	13.47%	29.64%	4.38%	5.95%	-28.04%	-6.46%	26.02%	29.32%	-17.58%	47.12%

Correlation

The correlation between ASIAX and IASMX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Oct 31, 1997	0.82

The correlation between ASIAX and IASMX has been stable across timeframes, ranging from 0.82 to 0.84 - a consistent structural relationship.

Return for Risk

ASIAX vs. IASMX — Risk / Return Rank

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

ASIAX

ASIAX Risk / Return Rank: 63
ASIAX Sharpe Ratio Rank: 63
ASIAX Sortino Ratio Rank: 54
ASIAX Omega Ratio Rank: 67
ASIAX Calmar Ratio Rank: 75
ASIAX Martin Ratio Rank: 57

IASMX

IASMX Risk / Return Rank: 49
IASMX Sharpe Ratio Rank: 42
IASMX Sortino Ratio Rank: 40
IASMX Omega Ratio Rank: 41
IASMX Calmar Ratio Rank: 76
IASMX Martin Ratio Rank: 47

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.

ASIAX vs. IASMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco EQV Asia Pacific Equity Fund (ASIAX) and Guinness Atkinson Asia Focus Fund (IASMX). 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.

	ASIAX	IASMX	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.46	+0.30
Sortino ratio: Return per unit of downside risk	2.35	2.02	+0.33
Omega ratio: Gain probability vs. loss probability	1.34	1.26	+0.08
Calmar ratio: Return relative to maximum drawdown	2.71	2.74	-0.03
Martin ratio: Return relative to average drawdown	8.94	7.85	+1.09

ASIAX vs. IASMX - Sharpe Ratio Comparison

The current ASIAX Sharpe Ratio is 1.76, which is comparable to the IASMX Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of ASIAX and IASMX, 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

ASIAX vs. IASMX - Drawdown Comparison

The maximum ASIAX drawdown since its inception was -63.78%, smaller than the maximum IASMX drawdown of -76.53%. Use the drawdown chart below to compare losses from any high point for ASIAX and IASMX.

Drawdown Indicators

	ASIAX	IASMX	Difference
Max Drawdown Largest peak-to-trough decline	-63.78%	-76.53%	+12.75%
Max Drawdown (1Y) Largest decline over 1 year	-11.73%	-10.00%	-1.73%
Max Drawdown (3Y) Largest decline over 3 years	-20.36%	-19.62%	-0.74%
Max Drawdown (5Y) Largest decline over 5 years	-28.66%	-45.82%	+17.16%
Max Drawdown (10Y) Largest decline over 10 years	-36.32%	-52.51%	+16.19%
Current Drawdown Current decline from peak	-5.91%	-5.89%	-0.02%
Average Drawdown Average peak-to-trough decline	-15.06%	-33.11%	+18.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.54%	3.48%	+0.06%

Volatility

ASIAX vs. IASMX - Volatility Comparison

Invesco EQV Asia Pacific Equity Fund (ASIAX) and Guinness Atkinson Asia Focus Fund (IASMX) have volatilities of 7.88% and 7.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASIAX	IASMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.88%	7.98%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	15.58%	15.45%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	18.04%	18.79%	-0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.57%	21.68%	-6.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.46%	20.84%	-5.38%

ASIAX vs. IASMX - Expense Ratio Comparison

ASIAX has a 1.45% expense ratio, which is lower than IASMX's 1.98% expense ratio.

Dividends

ASIAX vs. IASMX - Dividend Comparison

ASIAX's dividend yield for the trailing twelve months is around 18.93%, more than IASMX's 6.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASIAX Invesco EQV Asia Pacific Equity Fund	18.93%	21.41%	8.68%	2.84%	7.25%	7.71%	7.37%	5.67%	7.17%	7.91%	1.09%	3.15%
IASMX Guinness Atkinson Asia Focus Fund	6.10%	6.92%	1.51%	1.16%	3.40%	9.14%	5.78%	6.61%	12.82%	0.90%	1.44%	1.18%

Frequently Asked Questions

Can I hold both ASIAX and IASMX in my portfolio?

ASIAX and IASMX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASIAX or IASMX?

IASMX has higher volatility (7.98%) compared to ASIAX (7.88%). In terms of maximum drawdown, ASIAX dropped -63.78% vs IASMX's -76.53%.

Which has better risk-adjusted returns?

ASIAX currently has the higher Sharpe Ratio (1.76 vs 1.46), 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.