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 11.79%/yr vs 10.24%/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 -12.00% return, which is significantly lower than AAXJ's 29.50% return. Over the past 10 years, ICE has outperformed AAXJ with an annualized return of 11.79%, while AAXJ has yielded a comparatively lower 10.24% annualized return.
ICE
- 1D
- 2.61%
- 1M
- -8.51%
- YTD
- -12.00%
- 6M
- -10.16%
- 1Y
- -19.76%
- 3Y*
- 10.85%
- 5Y*
- 6.20%
- 10Y*
- 11.79%
AAXJ
- 1D
- -1.28%
- 1M
- 7.11%
- YTD
- 29.50%
- 6M
- 32.24%
- 1Y
- 54.70%
- 3Y*
- 24.06%
- 5Y*
- 6.77%
- 10Y*
- 10.24%
ICE vs. AAXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICE Intercontinental Exchange, Inc. | -12.00% | 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 | 29.50% | 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 | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2008 | 0.38 |
Over the past year, the correlation between ICE and AAXJ has dropped to 0.02 - well below their long-term average of 0.38, suggesting their price drivers have been diverging.
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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.
| ICE | AAXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.63 | ||
| Sortino ratioReturn per unit of downside risk | -4.70 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.49 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 4.02 | -4.79 |
| Martin ratioReturn relative to average drawdown | -1.50 | 15.52 | -17.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ICE | AAXJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.91 | 2.71 | -3.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | 0.34 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.51 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.28 | +0.14 |
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 | -25.87% | -13.66% | -12.21% |
Max Drawdown (3Y)Largest decline over 3 years | -25.87% | -19.74% | -6.13% |
Max Drawdown (5Y)Largest decline over 5 years | -34.32% | -40.74% | +6.42% |
Max Drawdown (10Y)Largest decline over 10 years | -34.32% | -44.52% | +10.20% |
Current DrawdownCurrent decline from peak | -23.94% | -2.32% | -21.62% |
Average DrawdownAverage peak-to-trough decline | -16.46% | -14.03% | -2.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.19% | 3.53% | +9.66% |
Volatility
ICE vs. AAXJ - Volatility Comparison
The current volatility for Intercontinental Exchange, Inc. (ICE) is 6.23%, while iShares MSCI All Country Asia ex-Japan ETF (AAXJ) has a volatility of 8.95%. 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 | 6.23% | 8.95% | -2.72% |
Volatility (6M)Calculated over the trailing 6-month period | 18.46% | 17.53% | +0.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.73% | 20.30% | +1.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.05% | 19.95% | +1.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.18% | 20.25% | +1.93% |
Dividends
ICE vs. AAXJ - Dividend Comparison
ICE's dividend yield for the trailing twelve months is around 1.38%, less than AAXJ's 1.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAXJ iShares MSCI All Country Asia ex-Japan ETF | 1.40% | 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. | 1.38% | 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 (8.95%) compared to ICE (6.23%). In terms of maximum drawdown, ICE dropped -73.94% vs AAXJ's -49.37%.
AAXJ currently has the higher Sharpe Ratio (2.71 vs -0.91), 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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