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FLAU vs. AAXJ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FLAU vs. AAXJ

Last updated Aug 4, 2026
Documentation

FLAU (Franklin FTSE Australia ETF) and AAXJ (iShares MSCI All Country Asia ex-Japan ETF) are both exchange-traded funds - FLAU is a Australia Equities fund tracking the FTSE Australia RIC Capped 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 5 years, FLAU returned 7.05%/yr vs 6.52%/yr for AAXJ. Their 0.63 correlation means they have sometimes moved together and sometimes differently. FLAU charges 0.09%/yr vs 0.68%/yr for AAXJ.

Performance

FLAU vs. AAXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE Australia ETF (FLAU) 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, FLAU achieves a 12.89% return, which is significantly lower than AAXJ's 19.97% return.

FLAU

1D
0.03%
1M
4.17%
6M
5.88%
YTD
12.89%
1Y
17.47%
3Y*
13.46%
5Y*
7.05%
10Y*
—
ALL TIME*
7.95%

AAXJ

1D
0.54%
1M
-2.30%
6M
11.10%
YTD
19.97%
1Y
36.44%
3Y*
20.05%
5Y*
6.52%
10Y*
8.65%
ALL TIME*
6.40%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

AAXJ

iShares MSCI All Country Asia ex-Japan ETF
$45.15M$65.18M$78.40M

FLAU

Franklin FTSE Australia ETF
$226.34K$4.45M$1.66M

FLAU vs. AAXJ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FLAU
Franklin FTSE Australia ETF		12.89%15.95%1.81%12.58%-5.58%9.90%11.00%23.38%-10.17%1.89%
AAXJ
iShares MSCI All Country Asia ex-Japan ETF		19.97%31.53%10.41%4.79%-20.35%-5.73%23.35%17.93%-15.04%2.16%

Correlation

The correlation between FLAU and AAXJ is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.59

Correlation (3Y)
Balances recent behavior with more history.

0.65

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.68

Correlation (All Time)
Calculated using the full available price history since Nov 6, 2017

0.63

The correlation between FLAU and AAXJ has been stable across timeframes, ranging from 0.59 to 0.68 - a consistent structural relationship.

FLAU vs. AAXJ - Sectors Allocation Comparison

Sectors
FLAU
AAXJ

Financial Services

37.3%
16.1%

Basic Materials

25.3%
2.9%

Consumer Cyclical

7.3%
7.8%

Real Estate

5.9%
1.3%

Industrials

5.7%
6.8%

Healthcare

4.9%
2.6%

Energy

4.3%
2.1%

Consumer Defensive

4.2%
1.9%

Communication Services

1.8%
5.9%

Technology

1.8%
51.1%

Utilities

1.5%
1.5%

Financial Services

FLAU
37.3%
AAXJ
16.1%

Basic Materials

FLAU
25.3%
AAXJ
2.9%

Consumer Cyclical

FLAU
7.3%
AAXJ
7.8%

Real Estate

FLAU
5.9%
AAXJ
1.3%

Industrials

FLAU
5.7%
AAXJ
6.8%

Healthcare

FLAU
4.9%
AAXJ
2.6%

Energy

FLAU
4.3%
AAXJ
2.1%

Consumer Defensive

FLAU
4.2%
AAXJ
1.9%

Communication Services

FLAU
1.8%
AAXJ
5.9%

Technology

FLAU
1.8%
AAXJ
51.1%

Utilities

FLAU
1.5%
AAXJ
1.5%

Compare stocks, funds, or ETFs

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

Franklin FTSE Australia ETF

iShares MSCI All Country Asia ex-Japan ETF

Often compared with FLAU:
FLAU vs. EWAFLAU vs. FLBRFLAU vs. FLGBFLAU vs. PEYFLAU vs. EPIFLAU vs. BCDFLAU vs. JEPI
Often compared with AAXJ:
AAXJ vs. VPLAAXJ vs. IEMGAAXJ vs. BBAXAAXJ vs. VWOAAXJ vs. EPPAAXJ vs. CQQQAAXJ vs. THD

Return for Risk

FLAU vs. AAXJ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
FLAU
FLAU Risk / Return Rank: 4141
Overall Rank
FLAU Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
FLAU Sortino Ratio Rank: 3939
Sortino Ratio Rank
FLAU Omega Ratio Rank: 3838
Omega Ratio Rank
FLAU Calmar Ratio Rank: 4747
Calmar Ratio Rank
FLAU Martin Ratio Rank: 4343
Martin Ratio Rank
AAXJ
AAXJ Risk / Return Rank: 6161
Overall Rank
AAXJ Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
AAXJ Sortino Ratio Rank: 5555
Sortino Ratio Rank
AAXJ Omega Ratio Rank: 6363
Omega Ratio Rank
AAXJ Calmar Ratio Rank: 6868
Calmar Ratio Rank
AAXJ Martin Ratio Rank: 6161
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FLAU vs. AAXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Australia ETF (FLAU) 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.

FLAUAAXJDifference
Sharpe ratioReturn per unit of total volatility
1.02
1.45

-0.43

Sortino ratioReturn per unit of downside risk
1.49
1.96

-0.47

Omega ratioGain probability vs. loss probability

1.18

1.28

-0.09

Calmar ratioReturn relative to maximum drawdown

1.75

2.45

-0.70

Martin ratioReturn relative to average drawdown

4.91

7.61

-2.70

FLAU vs. AAXJ - Sharpe Ratio Comparison

The current FLAU Sharpe Ratio is 1.02, which is comparable to the AAXJ Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of FLAU 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

FLAU vs. AAXJ - Drawdown Comparison

The maximum FLAU drawdown since its inception was -45.73%, smaller than the maximum AAXJ drawdown of -49.37%. Use the drawdown chart below to compare losses from any high point for FLAU and AAXJ.

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Drawdown Indicators

FLAUAAXJDifference

Max Drawdown

Largest peak-to-trough decline

-45.73%

-49.37%

+3.64%

Max Drawdown (1Y)

Largest decline over 1 year

-10.01%

-14.94%

+4.93%

Max Drawdown (3Y)

Largest decline over 3 years

-22.03%

-19.74%

-2.29%

Max Drawdown (5Y)

Largest decline over 5 years

-24.68%

-37.74%

+13.06%

Max Drawdown (10Y)

Largest decline over 10 years

—

-44.52%

—

Current Drawdown

Current decline from peak

-1.56%

-10.38%

+8.82%

Average Drawdown

Average peak-to-trough decline

-6.73%

-13.97%

+7.24%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.56%

4.80%

-1.24%

Volatility

FLAU vs. AAXJ - Volatility Comparison

The current volatility for Franklin FTSE Australia ETF (FLAU) is 4.42%, while iShares MSCI All Country Asia ex-Japan ETF (AAXJ) has a volatility of 9.40%. This indicates that FLAU 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

FLAUAAXJDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.42%

9.40%

-4.98%

Volatility (6M)

Calculated over the trailing 6-month period

14.40%

22.93%

-8.53%

Volatility (1Y)

Calculated over the trailing 1-year period

17.20%

25.24%

-8.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.66%

20.93%

-1.27%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.48%

20.70%

+2.78%

FLAU vs. AAXJ - Expense Ratio Comparison

FLAU has a 0.09% expense ratio, which is lower than AAXJ's 0.68% expense ratio.

Dividends

FLAU vs. AAXJ - Dividend Comparison

FLAU's dividend yield for the trailing twelve months is around 3.05%, more than AAXJ's 1.39% yield.

PositionTTM20252024202320222021202020192018201720162015
AAXJ
iShares MSCI All Country Asia ex-Japan ETF		1.39%1.81%1.86%1.95%1.74%2.21%1.06%1.83%2.10%1.99%1.77%2.44%
FLAU
Franklin FTSE Australia ETF		3.05%3.25%3.37%3.62%5.91%5.14%2.18%4.37%4.34%0.18%0.00%0.00%

Frequently Asked Questions

FLAU and AAXJ have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

AAXJ has higher volatility (9.40%) compared to FLAU (4.42%). In terms of maximum drawdown, FLAU dropped -45.73% vs AAXJ's -49.37%.

On 5-year performance, FLAU leads with 7.05% vs 6.52% for AAXJ. On fees, FLAU is cheaper at 0.09% per year. On volatility, FLAU has been the lower-risk option at 4.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FLAU has performed better with a 7.05% return vs 6.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FLAU is cheaper with a 0.09% expense ratio, compared with 0.68% for AAXJ.

FLAU has the higher dividend yield at 3.05%, compared with 1.39% for AAXJ.

FLAU is categorized as Australia Equities, while AAXJ is Asia Pacific Equities. FLAU tracks FTSE Australia RIC Capped Index, while AAXJ tracks MSCI All Country Asia ex Japan Index. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.09% for FLAU and 0.68% for AAXJ.

AAXJ currently has the higher Sharpe Ratio (1.45 vs 1.02), 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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