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ECNS vs. BBAX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ECNS vs. BBAX

Last updated Jun 24, 2026

ECNS (iShares MSCI China Small-Cap ETF) and BBAX (JPMorgan BetaBuilders Developed Asia ex-Japan ETF) are both Asia Pacific Equities funds - ECNS tracks the MSCI China Small Cap Index while BBAX tracks the Morningstar Developed Asia Pacific ex-Japan Target Market Exposure Index. Both are passively managed. Over the past 5 years, ECNS returned -8.08%/yr vs 4.79%/yr for BBAX. A 0.60 correlation means they provide meaningful diversification when combined. ECNS charges 0.59%/yr vs 0.19%/yr for BBAX.

Performance

ECNS vs. BBAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI China Small-Cap ETF (ECNS) and JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ECNS achieves a -9.88% return, which is significantly lower than BBAX's 7.03% return.

ECNS

1D
-1.92%
1M
-6.71%
YTD
-9.88%
6M
-11.17%
1Y
1.85%
3Y*
6.91%
5Y*
-8.08%
10Y*
1.55%

BBAX

1D
-2.11%
1M
-2.67%
YTD
7.03%
6M
5.44%
1Y
15.68%
3Y*
12.30%
5Y*
4.79%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ECNS vs. BBAX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
ECNS
iShares MSCI China Small-Cap ETF		-9.88%36.49%5.64%-23.05%-24.58%2.11%25.42%7.84%-16.21%
BBAX
JPMorgan BetaBuilders Developed Asia ex-Japan ETF		7.03%20.21%2.50%5.60%-4.80%5.53%8.02%18.66%-9.65%

Correlation

The correlation between ECNS and BBAX is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.55

Correlation (3Y)
Calculated over the trailing 3-year period

0.58

Correlation (5Y)
Calculated over the trailing 5-year period

0.58

Correlation (All Time)
Calculated using the full available price history since Aug 8, 2018

0.60

The correlation between ECNS and BBAX has been stable across timeframes, ranging from 0.55 to 0.60 - a consistent structural relationship.

ECNS vs. BBAX - Sectors Allocation Comparison

Sectors
ECNS
BBAX

Healthcare

19.9%
4.1%

Industrials

18.0%
8.0%

Technology

12.6%
0.2%

Consumer Cyclical

9.3%
5.2%

Real Estate

8.7%
8.4%

Basic Materials

8.4%
17.5%

Communication Services

6.5%
2.7%

Financial Services

4.6%
45.0%

Consumer Defensive

4.2%
3.1%

Energy

3.2%
2.7%

Utilities

2.4%
3.2%

Healthcare

ECNS
19.9%
BBAX
4.1%

Industrials

ECNS
18.0%
BBAX
8.0%

Technology

ECNS
12.6%
BBAX
0.2%

Consumer Cyclical

ECNS
9.3%
BBAX
5.2%

Real Estate

ECNS
8.7%
BBAX
8.4%

Basic Materials

ECNS
8.4%
BBAX
17.5%

Communication Services

ECNS
6.5%
BBAX
2.7%

Financial Services

ECNS
4.6%
BBAX
45.0%

Consumer Defensive

ECNS
4.2%
BBAX
3.1%

Energy

ECNS
3.2%
BBAX
2.7%

Utilities

ECNS
2.4%
BBAX
3.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI China Small-Cap ETF

JPMorgan BetaBuilders Developed Asia ex-Japan ETF

Often compared with ECNS:
ECNS vs. ASHSECNS vs. MCHIECNS vs. CNXTECNS vs. DFAEECNS vs. CQQQECNS vs. FLCHECNS vs. EWT
Often compared with BBAX:
BBAX vs. AAXJBBAX vs. EPPBBAX vs. BBJPBBAX vs. BBEUBBAX vs. GMFBBAX vs. AIABBAX vs. EMMF

Return for Risk

ECNS vs. BBAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ECNS
ECNS Risk / Return Rank: 1010
Overall Rank
ECNS Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
ECNS Sortino Ratio Rank: 99
Sortino Ratio Rank
ECNS Omega Ratio Rank: 1010
Omega Ratio Rank
ECNS Calmar Ratio Rank: 99
Calmar Ratio Rank
ECNS Martin Ratio Rank: 99
Martin Ratio Rank
BBAX
BBAX Risk / Return Rank: 3232
Overall Rank
BBAX Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
BBAX Sortino Ratio Rank: 2929
Sortino Ratio Rank
BBAX Omega Ratio Rank: 2929
Omega Ratio Rank
BBAX Calmar Ratio Rank: 3737
Calmar Ratio Rank
BBAX Martin Ratio Rank: 3737
Martin Ratio Rank
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.

ECNS vs. BBAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China Small-Cap ETF (ECNS) and JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX). 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.

ECNSBBAXDifference
Sharpe ratioReturn per unit of total volatility
0.09
1.05

-0.96

Sortino ratioReturn per unit of downside risk
0.26
1.51

-1.25

Omega ratioGain probability vs. loss probability

1.03

1.19

-0.16

Calmar ratioReturn relative to maximum drawdown

0.08

1.75

-1.67

Martin ratioReturn relative to average drawdown

0.18

5.35

-5.16

ECNS vs. BBAX - Sharpe Ratio Comparison

The current ECNS Sharpe Ratio is 0.09, which is lower than the BBAX Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of ECNS and BBAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ECNS vs. BBAX - Drawdown Comparison

The maximum ECNS drawdown since its inception was -63.43%, which is greater than BBAX's maximum drawdown of -39.64%. Use the drawdown chart below to compare losses from any high point for ECNS and BBAX.

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Drawdown Indicators

ECNSBBAXDifference

Max Drawdown

Largest peak-to-trough decline

-63.43%

-39.64%

-23.79%

Max Drawdown (1Y)

Largest decline over 1 year

-22.70%

-9.01%

-13.69%

Max Drawdown (3Y)

Largest decline over 3 years

-31.72%

-20.12%

-11.60%

Max Drawdown (5Y)

Largest decline over 5 years

-59.61%

-23.21%

-36.40%

Max Drawdown (10Y)

Largest decline over 10 years

-63.43%

—

—

Current Drawdown

Current decline from peak

-41.99%

-6.22%

-35.77%

Average Drawdown

Average peak-to-trough decline

-29.41%

-7.20%

-22.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.24%

2.94%

+7.30%

Volatility

ECNS vs. BBAX - Volatility Comparison

iShares MSCI China Small-Cap ETF (ECNS) and JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) have volatilities of 5.69% and 5.61%, 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.

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Volatility by Period

ECNSBBAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.69%

5.61%

+0.08%

Volatility (6M)

Calculated over the trailing 6-month period

13.59%

12.74%

+0.85%

Volatility (1Y)

Calculated over the trailing 1-year period

20.68%

15.05%

+5.63%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.44%

17.40%

+12.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.90%

19.70%

+6.20%

ECNS vs. BBAX - Expense Ratio Comparison

ECNS has a 0.59% expense ratio, which is higher than BBAX's 0.19% expense ratio.

Dividends

ECNS vs. BBAX - Dividend Comparison

ECNS's dividend yield for the trailing twelve months is around 6.53%, more than BBAX's 3.70% yield.

PositionTTM20252024202320222021202020192018201720162015
BBAX
JPMorgan BetaBuilders Developed Asia ex-Japan ETF		3.70%3.86%4.13%4.17%5.06%5.47%2.57%4.07%1.36%0.00%0.00%0.00%
ECNS
iShares MSCI China Small-Cap ETF		6.53%6.20%5.98%4.89%3.54%4.87%3.59%3.23%6.16%3.18%4.29%3.58%

Frequently Asked Questions

ECNS and BBAX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ECNS has higher volatility (5.69%) compared to BBAX (5.61%). In terms of maximum drawdown, ECNS dropped -63.43% vs BBAX's -39.64%.

On 5-year performance, BBAX leads with 4.79% vs -8.08% for ECNS. On fees, BBAX is cheaper at 0.19% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, BBAX has performed better with a 4.79% return vs -8.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BBAX is cheaper with a 0.19% expense ratio, compared with 0.59% for ECNS.

ECNS has the higher dividend yield at 6.53%, compared with 3.70% for BBAX.

ECNS tracks MSCI China Small Cap Index, while BBAX tracks Morningstar Developed Asia Pacific ex-Japan Target Market Exposure Index. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.59% for ECNS and 0.19% for BBAX.

BBAX currently has the higher Sharpe Ratio (1.05 vs 0.09), 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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