CNI vs. AAXJ
CNI (Canadian National Railway Company) 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, CNI returned 9.38%/yr vs 10.35%/yr for AAXJ. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
CNI vs. AAXJ - Performance Comparison
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Returns By Period
In the year-to-date period, CNI achieves a 17.61% return, which is significantly lower than AAXJ's 25.79% return. Over the past 10 years, CNI has underperformed AAXJ with an annualized return of 9.38%, while AAXJ has yielded a comparatively higher 10.35% annualized return.
CNI
- 1D
- 0.67%
- 1M
- 1.13%
- YTD
- 17.61%
- 6M
- 17.72%
- 1Y
- 15.17%
- 3Y*
- 1.46%
- 5Y*
- 3.68%
- 10Y*
- 9.38%
AAXJ
- 1D
- -6.03%
- 1M
- 2.68%
- YTD
- 25.79%
- 6M
- 26.97%
- 1Y
- 47.85%
- 3Y*
- 23.41%
- 5Y*
- 6.42%
- 10Y*
- 10.35%
CNI vs. AAXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CNI Canadian National Railway Company | 17.61% | -0.10% | -17.51% | 7.84% | -1.86% | 13.70% | 23.66% | 24.26% | -8.49% | 25.03% |
AAXJ iShares MSCI All Country Asia ex-Japan ETF | 25.79% | 31.53% | 10.41% | 4.79% | -20.35% | -5.73% | 23.35% | 17.93% | -15.04% | 41.76% |
Correlation
The correlation between CNI and AAXJ is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2008 | 0.52 |
Over the past year, the correlation between CNI and AAXJ has dropped to 0.23 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.
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Return for Risk
CNI vs. AAXJ — Risk / Return Rank
CNI
AAXJ
CNI vs. AAXJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian National Railway Company (CNI) 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.
| CNI | AAXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.36 | ||
| Sortino ratioReturn per unit of downside risk | -1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.39 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 3.52 | -2.44 |
| Martin ratioReturn relative to average drawdown | 1.98 | 12.86 | -10.88 |
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Drawdowns
CNI vs. AAXJ - Drawdown Comparison
The maximum CNI drawdown since its inception was -46.66%, smaller than the maximum AAXJ drawdown of -49.37%. Use the drawdown chart below to compare losses from any high point for CNI and AAXJ.
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Drawdown Indicators
| CNI | AAXJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.66% | -49.37% | +2.71% |
Max Drawdown (1Y)Largest decline over 1 year | -14.15% | -13.66% | -0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -29.14% | -19.74% | -9.40% |
Max Drawdown (5Y)Largest decline over 5 years | -29.14% | -40.64% | +11.50% |
Max Drawdown (10Y)Largest decline over 10 years | -29.15% | -44.52% | +15.37% |
Current DrawdownCurrent decline from peak | -8.78% | -6.03% | -2.75% |
Average DrawdownAverage peak-to-trough decline | -9.49% | -14.00% | +4.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.69% | 3.73% | +3.96% |
Volatility
CNI vs. AAXJ - Volatility Comparison
The current volatility for Canadian National Railway Company (CNI) is 5.36%, while iShares MSCI All Country Asia ex-Japan ETF (AAXJ) has a volatility of 13.43%. This indicates that CNI 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
| CNI | AAXJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.36% | 13.43% | -8.07% |
Volatility (6M)Calculated over the trailing 6-month period | 17.48% | 21.20% | -3.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.95% | 23.39% | -1.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.41% | 20.63% | +1.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.66% | 20.51% | +2.15% |
Dividends
CNI vs. AAXJ - Dividend Comparison
CNI's dividend yield for the trailing twelve months is around 2.27%, more than AAXJ's 1.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAXJ iShares MSCI All Country Asia ex-Japan ETF | 1.32% | 1.81% | 1.86% | 1.95% | 1.74% | 2.21% | 1.06% | 1.83% | 2.10% | 1.99% | 1.77% | 2.44% |
CNI Canadian National Railway Company | 2.27% | 2.58% | 2.43% | 1.85% | 1.41% | 1.61% | 1.59% | 1.79% | 2.01% | 2.00% | 2.23% | 2.24% |
Frequently Asked Questions
CNI and AAXJ have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAXJ has higher volatility (13.43%) compared to CNI (5.36%). In terms of maximum drawdown, CNI dropped -46.66% vs AAXJ's -49.37%.
AAXJ currently has the higher Sharpe Ratio (2.06 vs 0.69), 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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