FMQQ vs. AIA
FMQQ (FMQQ The Next Frontier Internet & Ecommerce ETF) and AIA (iShares Asia 50 ETF) are both exchange-traded funds - FMQQ is a Emerging Markets Diversified fund tracking the FMQQ The Next Frontier Internet & Ecommerce Index - Benchmark TR Net, while AIA is a Asia Pacific Equities fund tracking the S&P Asia 50 Index. Both are passively managed. Over the past 3 years, FMQQ returned 2.61%/yr vs 36.18%/yr for AIA. A 0.63 correlation means they provide meaningful diversification when combined. FMQQ charges 0.86%/yr vs 0.50%/yr for AIA.
Performance
FMQQ vs. AIA - Performance Comparison
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Returns By Period
In the year-to-date period, FMQQ achieves a -17.33% return, which is significantly lower than AIA's 43.04% return.
FMQQ
- 1D
- -1.59%
- 1M
- 0.22%
- YTD
- -17.33%
- 6M
- -17.61%
- 1Y
- -20.84%
- 3Y*
- 2.61%
- 5Y*
- —
- 10Y*
- —
AIA
- 1D
- -7.46%
- 1M
- 3.93%
- YTD
- 43.04%
- 6M
- 46.22%
- 1Y
- 80.75%
- 3Y*
- 36.18%
- 5Y*
- 11.29%
- 10Y*
- 14.96%
FMQQ vs. AIA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF | -17.33% | 10.77% | 12.45% | 15.15% | -54.03% | -16.57% |
AIA iShares Asia 50 ETF | 43.04% | 47.79% | 20.26% | 4.32% | -24.08% | -2.94% |
Correlation
The correlation between FMQQ and AIA is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2021 | 0.63 |
The correlation between FMQQ and AIA has been stable across timeframes, ranging from 0.57 to 0.63 - a consistent structural relationship.
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Return for Risk
FMQQ vs. AIA — Risk / Return Rank
FMQQ
AIA
FMQQ vs. AIA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FMQQ The Next Frontier Internet & Ecommerce ETF (FMQQ) and iShares Asia 50 ETF (AIA). 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.
| FMQQ | AIA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.84 | ||
| Sortino ratioReturn per unit of downside risk | -4.73 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.48 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 5.74 | -6.42 |
| Martin ratioReturn relative to average drawdown | -1.28 | 19.64 | -20.92 |
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Drawdowns
FMQQ vs. AIA - Drawdown Comparison
The maximum FMQQ drawdown since its inception was -64.51%, which is greater than AIA's maximum drawdown of -60.89%. Use the drawdown chart below to compare losses from any high point for FMQQ and AIA.
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Drawdown Indicators
| FMQQ | AIA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.51% | -60.89% | -3.62% |
Max Drawdown (1Y)Largest decline over 1 year | -30.82% | -14.15% | -16.67% |
Max Drawdown (3Y)Largest decline over 3 years | -30.82% | -21.64% | -9.18% |
Max Drawdown (5Y)Largest decline over 5 years | — | -50.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -54.64% | — |
Current DrawdownCurrent decline from peak | -55.31% | -7.46% | -47.85% |
Average DrawdownAverage peak-to-trough decline | -49.41% | -16.64% | -32.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.34% | 4.13% | +12.21% |
Volatility
FMQQ vs. AIA - Volatility Comparison
The current volatility for FMQQ The Next Frontier Internet & Ecommerce ETF (FMQQ) is 6.10%, while iShares Asia 50 ETF (AIA) has a volatility of 16.92%. This indicates that FMQQ experiences smaller price fluctuations and is considered to be less risky than AIA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMQQ | AIA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.10% | 16.92% | -10.82% |
Volatility (6M)Calculated over the trailing 6-month period | 16.16% | 26.32% | -10.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.25% | 29.51% | -10.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.80% | 26.34% | -1.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.80% | 23.93% | +0.87% |
FMQQ vs. AIA - Expense Ratio Comparison
FMQQ has a 0.86% expense ratio, which is higher than AIA's 0.50% expense ratio.
Dividends
FMQQ vs. AIA - Dividend Comparison
FMQQ's dividend yield for the trailing twelve months is around 0.74%, less than AIA's 1.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIA iShares Asia 50 ETF | 1.54% | 2.50% | 2.78% | 2.07% | 2.59% | 1.54% | 1.11% | 2.24% | 2.49% | 1.45% | 2.29% | 2.88% |
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF | 0.74% | 0.61% | 0.45% | 0.11% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FMQQ and AIA 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.
AIA has higher volatility (16.92%) compared to FMQQ (6.10%). In terms of maximum drawdown, FMQQ dropped -64.51% vs AIA's -60.89%.
On 3-year performance, AIA leads with 36.18% vs 2.61% for FMQQ. On fees, AIA is cheaper at 0.50% per year. On volatility, FMQQ has been the lower-risk option at 6.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AIA has performed better with a 36.18% return vs 2.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AIA is cheaper with a 0.50% expense ratio, compared with 0.86% for FMQQ.
AIA has the higher dividend yield at 1.54%, compared with 0.74% for FMQQ.
FMQQ is categorized as Emerging Markets Diversified, while AIA is Asia Pacific Equities. FMQQ tracks FMQQ The Next Frontier Internet & Ecommerce Index - Benchmark TR Net, while AIA tracks S&P Asia 50 Index. They also come from different issuers: EMQQ and iShares. Their fees differ too: 0.86% for FMQQ and 0.50% for AIA.
AIA currently has the higher Sharpe Ratio (2.75 vs -1.09), 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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