ICE vs. AAXJ
ICE (Intercontinental Exchange, Inc.) is a stock, while AAXJ (iShares MSCI All Country Asia ex-Japan ETF) is Asia Pacific Equities fund tracking the MSCI All Country Asia ex Japan Index. Over the past 10 years, ICE returned 11.31%/yr vs 10.62%/yr for AAXJ. At a 0.38 correlation, their price movements are largely independent.
Performance
ICE vs. AAXJ - Performance Comparison
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Returns By Period
In the year-to-date period, ICE achieves a -22.60% return, which is significantly lower than AAXJ's 27.57% return. Over the past 10 years, ICE has outperformed AAXJ with an annualized return of 11.31%, while AAXJ has yielded a comparatively lower 10.62% annualized return.
ICE
- 1D
- -4.25%
- 1M
- -17.05%
- YTD
- -22.60%
- 6M
- -22.92%
- 1Y
- -30.16%
- 3Y*
- 5.49%
- 5Y*
- 2.18%
- 10Y*
- 11.31%
AAXJ
- 1D
- 1.00%
- 1M
- 0.30%
- YTD
- 27.57%
- 6M
- 28.45%
- 1Y
- 45.68%
- 3Y*
- 23.86%
- 5Y*
- 6.54%
- 10Y*
- 10.62%
ICE vs. AAXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICE Intercontinental Exchange, Inc. | -22.60% | 9.92% | 17.46% | 27.12% | -23.91% | 19.94% | 26.15% | 24.47% | 8.11% | 26.60% |
AAXJ iShares MSCI All Country Asia ex-Japan ETF | 27.57% | 31.53% | 10.41% | 4.79% | -20.35% | -5.73% | 23.35% | 17.93% | -15.04% | 41.76% |
Correlation
The correlation between ICE and AAXJ is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2008 | 0.38 |
The correlation between ICE and AAXJ shifts across timeframes, from -0.02 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ICE vs. AAXJ — Risk / Return Rank
ICE
AAXJ
ICE vs. AAXJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Intercontinental Exchange, Inc. (ICE) 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.
| ICE | AAXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.30 | ||
| Sortino ratioReturn per unit of downside risk | -4.33 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.38 | -0.60 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 3.36 | -4.27 |
| Martin ratioReturn relative to average drawdown | -2.06 | 12.18 | -14.24 |
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Drawdowns
ICE vs. AAXJ - Drawdown Comparison
The maximum ICE drawdown since its inception was -73.94%, which is greater than AAXJ's maximum drawdown of -49.37%. Use the drawdown chart below to compare losses from any high point for ICE and AAXJ.
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Drawdown Indicators
| ICE | AAXJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.94% | -49.37% | -24.57% |
Max Drawdown (1Y)Largest decline over 1 year | -33.10% | -13.66% | -19.44% |
Max Drawdown (3Y)Largest decline over 3 years | -33.10% | -19.74% | -13.36% |
Max Drawdown (5Y)Largest decline over 5 years | -34.32% | -40.64% | +6.32% |
Max Drawdown (10Y)Largest decline over 10 years | -34.32% | -44.52% | +10.20% |
Current DrawdownCurrent decline from peak | -33.10% | -4.70% | -28.40% |
Average DrawdownAverage peak-to-trough decline | -16.48% | -13.99% | -2.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.63% | 3.76% | +10.87% |
Volatility
ICE vs. AAXJ - Volatility Comparison
The current volatility for Intercontinental Exchange, Inc. (ICE) is 8.54%, while iShares MSCI All Country Asia ex-Japan ETF (AAXJ) has a volatility of 12.93%. This indicates that ICE 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
| ICE | AAXJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.54% | 12.93% | -4.39% |
Volatility (6M)Calculated over the trailing 6-month period | 19.70% | 21.20% | -1.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.88% | 23.27% | -0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.29% | 20.63% | +0.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.28% | 20.50% | +1.78% |
Dividends
ICE vs. AAXJ - Dividend Comparison
ICE's dividend yield for the trailing twelve months is around 1.61%, more than AAXJ's 1.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAXJ iShares MSCI All Country Asia ex-Japan ETF | 1.31% | 1.81% | 1.86% | 1.95% | 1.74% | 2.21% | 1.06% | 1.83% | 2.10% | 1.99% | 1.77% | 2.44% |
ICE Intercontinental Exchange, Inc. | 1.61% | 1.19% | 1.21% | 1.31% | 1.48% | 0.97% | 1.04% | 1.19% | 1.27% | 1.13% | 1.21% | 1.13% |
Frequently Asked Questions
ICE and AAXJ have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAXJ has higher volatility (12.93%) compared to ICE (8.54%). In terms of maximum drawdown, ICE dropped -73.94% vs AAXJ's -49.37%.
AAXJ currently has the higher Sharpe Ratio (1.97 vs -1.32), 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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