IASMX vs. ASIAX

Last updated Jun 4, 2026

IASMX (Guinness Atkinson Asia Focus Fund) and ASIAX (Invesco EQV Asia Pacific Equity Fund) are both Asia Pacific Equities funds. Over the past 10 years, IASMX returned 9.38%/yr vs 8.95%/yr for ASIAX. Their correlation of 0.82 suggests significant overlap in exposure. IASMX charges 1.98%/yr vs 1.45%/yr for ASIAX.

Performance

IASMX vs. ASIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Guinness Atkinson Asia Focus Fund (IASMX) and Invesco EQV Asia Pacific Equity Fund (ASIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IASMX achieves a 18.99% return, which is significantly lower than ASIAX's 20.22% return. Both investments have delivered pretty close results over the past 10 years, with IASMX having a 9.38% annualized return and ASIAX not far behind at 8.95%.

IASMX

• 1D: 1.48%
• 1M: 5.32%
• YTD: 18.99%
• 6M: 21.26%
• 1Y: 41.63%
• 3Y*: 17.87%
• 5Y*: 2.11%
• 10Y*: 9.38%

ASIAX

• 1D: 1.42%
• 1M: 10.81%
• YTD: 20.22%
• 6M: 22.86%
• 1Y: 43.46%
• 3Y*: 17.27%
• 5Y*: 6.21%
• 10Y*: 8.95%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IASMX vs. ASIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IASMX Guinness Atkinson Asia Focus Fund	18.99%	29.64%	4.38%	5.95%	-28.04%	-6.46%	26.02%	29.32%	-17.58%	47.12%
ASIAX Invesco EQV Asia Pacific Equity Fund	20.22%	24.56%	9.59%	0.87%	-10.82%	-6.10%	25.76%	17.78%	-11.50%	29.13%

Correlation

The correlation between IASMX and ASIAX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Nov 3, 1997	0.82

The correlation between IASMX and ASIAX has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.

Return for Risk

IASMX vs. ASIAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IASMX

IASMX Risk / Return Rank: 74
IASMX Sharpe Ratio Rank: 79
IASMX Sortino Ratio Rank: 68
IASMX Omega Ratio Rank: 65
IASMX Calmar Ratio Rank: 88
IASMX Martin Ratio Rank: 71

ASIAX

ASIAX Risk / Return Rank: 80
ASIAX Sharpe Ratio Rank: 86
ASIAX Sortino Ratio Rank: 78
ASIAX Omega Ratio Rank: 79
ASIAX Calmar Ratio Rank: 81
ASIAX Martin Ratio Rank: 78

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.

IASMX vs. ASIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Guinness Atkinson Asia Focus Fund (IASMX) and Invesco EQV Asia Pacific Equity Fund (ASIAX). 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.

	IASMX	ASIAX	Difference
Sharpe ratio Return per unit of total volatility	2.59	2.79	-0.20
Sortino ratio Return per unit of downside risk	3.44	3.71	-0.27
Omega ratio Gain probability vs. loss probability	1.45	1.52	-0.07
Calmar ratio Return relative to maximum drawdown	4.36	3.74	+0.63
Martin ratio Return relative to average drawdown	13.58	14.61	-1.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IASMX vs. ASIAX - Sharpe Ratio Comparison

The current IASMX Sharpe Ratio is 2.59, which is comparable to the ASIAX Sharpe Ratio of 2.79. The chart below compares the historical Sharpe Ratios of IASMX and ASIAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IASMX	ASIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	2.79	-0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.42	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.59	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.50	-0.32

Drawdowns

IASMX vs. ASIAX - Drawdown Comparison

The maximum IASMX drawdown since its inception was -76.53%, which is greater than ASIAX's maximum drawdown of -63.78%. Use the drawdown chart below to compare losses from any high point for IASMX and ASIAX.

Drawdown Indicators

	IASMX	ASIAX	Difference
Max Drawdown Largest peak-to-trough decline	-76.53%	-63.78%	-12.75%
Max Drawdown (1Y) Largest decline over 1 year	-10.00%	-11.73%	+1.73%
Max Drawdown (3Y) Largest decline over 3 years	-19.62%	-20.36%	+0.74%
Max Drawdown (5Y) Largest decline over 5 years	-47.13%	-31.71%	-15.42%
Max Drawdown (10Y) Largest decline over 10 years	-52.51%	-36.32%	-16.19%
Current Drawdown Current decline from peak	-1.32%	0.00%	-1.32%
Average Drawdown Average peak-to-trough decline	-33.21%	-15.10%	-18.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	2.99%	+0.22%

Volatility

IASMX vs. ASIAX - Volatility Comparison

Guinness Atkinson Asia Focus Fund (IASMX) and Invesco EQV Asia Pacific Equity Fund (ASIAX) have volatilities of 6.13% and 6.18%, 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.

Volatility by Period

	IASMX	ASIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.13%	6.18%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	13.18%	12.66%	+0.52%
Volatility (1Y) Calculated over the trailing 1-year period	16.87%	15.75%	+1.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.38%	15.04%	+6.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.75%	15.23%	+5.52%

IASMX vs. ASIAX - Expense Ratio Comparison

IASMX has a 1.98% expense ratio, which is higher than ASIAX's 1.45% expense ratio.

Dividends

IASMX vs. ASIAX - Dividend Comparison

IASMX's dividend yield for the trailing twelve months is around 5.82%, less than ASIAX's 17.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASIAX Invesco EQV Asia Pacific Equity Fund	17.81%	21.41%	8.68%	2.84%	7.25%	7.71%	7.37%	5.67%	7.17%	7.91%	1.09%	3.15%
IASMX Guinness Atkinson Asia Focus Fund	5.82%	6.92%	1.51%	1.16%	3.40%	9.14%	5.78%	6.61%	12.82%	0.90%	1.44%	1.18%

Frequently Asked Questions

Can I hold both IASMX and ASIAX in my portfolio?

IASMX and ASIAX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IASMX or ASIAX?

ASIAX has higher volatility (6.18%) compared to IASMX (6.13%). In terms of maximum drawdown, IASMX dropped -76.53% vs ASIAX's -63.78%.

Which has better risk-adjusted returns?

ASIAX currently has the higher Sharpe Ratio (2.79 vs 2.59), 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.