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EUAD vs. AAXJ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EUAD vs. AAXJ

Last updated Jun 14, 2026

EUAD (Select STOXX Europe Aerospace & Defense ETF) and AAXJ (iShares MSCI All Country Asia ex-Japan ETF) are both exchange-traded funds - EUAD is a Aerospace & Defense fund tracking the STOXX Europe Total Market Aerospace & Defense Index, while AAXJ is a Asia Pacific Equities fund tracking the MSCI All Country Asia ex Japan Index. Both are passively managed. Over the past year, EUAD returned 3.14% vs 48.69% for AAXJ. At a 0.34 correlation, their price movements are largely independent. EUAD charges 0.50%/yr vs 0.68%/yr for AAXJ.

Performance

EUAD vs. AAXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Select STOXX Europe Aerospace & Defense ETF (EUAD) and iShares MSCI All Country Asia ex-Japan ETF (AAXJ). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EUAD achieves a -2.37% return, which is significantly lower than AAXJ's 26.46% return.

EUAD

1D
-0.77%
1M
5.27%
YTD
-2.37%
6M
-0.54%
1Y
3.14%
3Y*
—
5Y*
—
10Y*
—

AAXJ

1D
0.46%
1M
0.61%
YTD
26.46%
6M
29.76%
1Y
48.69%
3Y*
22.11%
5Y*
6.41%
10Y*
10.34%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EUAD vs. AAXJ - Yearly Performance Comparison

2026 (YTD)20252024
EUAD
Select STOXX Europe Aerospace & Defense ETF		-2.37%74.51%-6.86%
AAXJ
iShares MSCI All Country Asia ex-Japan ETF		26.46%31.53%-6.03%

Correlation

The correlation between EUAD and AAXJ is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.40

Correlation (All Time)
Calculated using the full available price history since Oct 22, 2024

0.34

EUAD vs. AAXJ - Sectors Allocation Comparison

Sectors
EUAD
AAXJ

Industrials

99.4%
7.3%

Healthcare

0.1%
2.6%

Basic Materials

-

3.1%

Communication Services

-

5.9%

Consumer Cyclical

-

8.9%

Consumer Defensive

-

2.0%

Energy

-

2.2%

Financial Services

-

15.8%

Real Estate

-

1.4%

Technology

-

49.4%

Utilities

-

1.6%

Industrials

EUAD
99.4%
AAXJ
7.3%

Healthcare

EUAD
0.1%
AAXJ
2.6%

Basic Materials

EUAD

-

AAXJ
3.1%

Communication Services

EUAD

-

AAXJ
5.9%

Consumer Cyclical

EUAD

-

AAXJ
8.9%

Consumer Defensive

EUAD

-

AAXJ
2.0%

Energy

EUAD

-

AAXJ
2.2%

Financial Services

EUAD

-

AAXJ
15.8%

Real Estate

EUAD

-

AAXJ
1.4%

Technology

EUAD

-

AAXJ
49.4%

Utilities

EUAD

-

AAXJ
1.6%

Compare stocks, funds, or ETFs

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

Select STOXX Europe Aerospace & Defense ETF

iShares MSCI All Country Asia ex-Japan ETF

Often compared with EUAD:
EUAD vs. SHLDEUAD vs. NATOEUAD vs. NATO.LEUAD vs. WDEF.LEUAD vs. VXUSEUAD vs. AUMIEUAD vs. DUSA
Often compared with AAXJ:
AAXJ vs. VPLAAXJ vs. IEMGAAXJ vs. VWOAAXJ vs. BBAXAAXJ vs. EPPAAXJ vs. CQQQAAXJ vs. THD

Return for Risk

EUAD vs. AAXJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EUAD
EUAD Risk / Return Rank: 1111
Overall Rank
EUAD Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
EUAD Sortino Ratio Rank: 1111
Sortino Ratio Rank
EUAD Omega Ratio Rank: 1111
Omega Ratio Rank
EUAD Calmar Ratio Rank: 1111
Calmar Ratio Rank
EUAD Martin Ratio Rank: 1111
Martin Ratio Rank
AAXJ
AAXJ Risk / Return Rank: 7575
Overall Rank
AAXJ Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
AAXJ Sortino Ratio Rank: 7070
Sortino Ratio Rank
AAXJ Omega Ratio Rank: 7878
Omega Ratio Rank
AAXJ Calmar Ratio Rank: 7676
Calmar Ratio Rank
AAXJ Martin Ratio Rank: 7676
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.

EUAD vs. AAXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Select STOXX Europe Aerospace & Defense ETF (EUAD) 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.

EUADAAXJDifference
Sharpe ratioReturn per unit of total volatility
0.09
2.11

-2.01

Sortino ratioReturn per unit of downside risk
0.35
2.73

-2.38

Omega ratioGain probability vs. loss probability

1.04

1.40

-0.36

Calmar ratioReturn relative to maximum drawdown

0.13

3.41

-3.29

Martin ratioReturn relative to average drawdown

0.30

12.55

-12.25

EUAD vs. AAXJ - Sharpe Ratio Comparison

The current EUAD Sharpe Ratio is 0.09, which is lower than the AAXJ Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of EUAD and AAXJ, 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

EUAD vs. AAXJ - Drawdown Comparison

The maximum EUAD drawdown since its inception was -22.04%, smaller than the maximum AAXJ drawdown of -49.37%. Use the drawdown chart below to compare losses from any high point for EUAD and AAXJ.

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Drawdown Indicators

EUADAAXJDifference

Max Drawdown

Largest peak-to-trough decline

-22.04%

-49.37%

+27.33%

Max Drawdown (1Y)

Largest decline over 1 year

-22.04%

-13.66%

-8.38%

Max Drawdown (3Y)

Largest decline over 3 years

—

-19.74%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-40.64%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-44.52%

—

Current Drawdown

Current decline from peak

-14.81%

-4.62%

-10.19%

Average Drawdown

Average peak-to-trough decline

-5.88%

-14.01%

+8.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.34%

3.71%

+5.63%

Volatility

EUAD vs. AAXJ - Volatility Comparison

The current volatility for Select STOXX Europe Aerospace & Defense ETF (EUAD) is 9.65%, while iShares MSCI All Country Asia ex-Japan ETF (AAXJ) has a volatility of 11.46%. This indicates that EUAD 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

EUADAAXJDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.65%

11.46%

-1.81%

Volatility (6M)

Calculated over the trailing 6-month period

24.40%

19.71%

+4.69%

Volatility (1Y)

Calculated over the trailing 1-year period

29.15%

22.12%

+7.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

29.90%

20.32%

+9.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

29.90%

20.42%

+9.48%

EUAD vs. AAXJ - Expense Ratio Comparison

EUAD has a 0.50% expense ratio, which is lower than AAXJ's 0.68% expense ratio.

Dividends

EUAD vs. AAXJ - Dividend Comparison

EUAD's dividend yield for the trailing twelve months is around 0.41%, less than AAXJ's 1.43% yield.

PositionTTM20252024202320222021202020192018201720162015
AAXJ
iShares MSCI All Country Asia ex-Japan ETF		1.43%1.81%1.86%1.95%1.74%2.21%1.06%1.83%2.10%1.99%1.77%2.44%
EUAD
Select STOXX Europe Aerospace & Defense ETF		0.41%0.40%0.10%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

EUAD and AAXJ have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

AAXJ has higher volatility (11.46%) compared to EUAD (9.65%). In terms of maximum drawdown, EUAD dropped -22.04% vs AAXJ's -49.37%.

On 1-year performance, AAXJ leads with 48.69% vs 3.14% for EUAD. On fees, EUAD is cheaper at 0.50% per year. On volatility, EUAD has been the lower-risk option at 9.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, AAXJ has performed better with a 48.69% return vs 3.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EUAD is cheaper with a 0.50% expense ratio, compared with 0.68% for AAXJ.

AAXJ has the higher dividend yield at 1.43%, compared with 0.41% for EUAD.

EUAD is categorized as Aerospace & Defense, while AAXJ is Asia Pacific Equities. EUAD tracks STOXX Europe Total Market Aerospace & Defense Index, while AAXJ tracks MSCI All Country Asia ex Japan Index. They also come from different issuers: Select Funds and iShares. Their fees differ too: 0.50% for EUAD and 0.68% for AAXJ.

AAXJ currently has the higher Sharpe Ratio (2.11 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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