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IXJ vs. AAXJ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IXJ vs. AAXJ

Last updated Jun 14, 2026

IXJ (iShares Global Healthcare ETF) and AAXJ (iShares MSCI All Country Asia ex-Japan ETF) are both exchange-traded funds - IXJ is a Health & Biotech Equities fund tracking the S&P Global Healthcare Sector 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 10 years, IXJ returned 8.43%/yr vs 10.34%/yr for AAXJ. A 0.55 correlation means they provide meaningful diversification when combined. IXJ charges 0.46%/yr vs 0.68%/yr for AAXJ.

Performance

IXJ vs. AAXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Healthcare ETF (IXJ) 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, IXJ achieves a -1.18% return, which is significantly lower than AAXJ's 26.46% return. Over the past 10 years, IXJ has underperformed AAXJ with an annualized return of 8.43%, while AAXJ has yielded a comparatively higher 10.34% annualized return.

IXJ

1D
-0.24%
1M
3.58%
YTD
-1.18%
6M
-0.09%
1Y
11.25%
3Y*
5.65%
5Y*
4.37%
10Y*
8.43%

AAXJ

1D
0.46%
1M
0.61%
YTD
26.46%
6M
29.76%
1Y
48.69%
3Y*
22.11%
5Y*
6.41%
10Y*
10.34%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IXJ vs. AAXJ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IXJ
iShares Global Healthcare ETF		-1.18%14.99%0.55%3.62%-4.94%19.60%12.74%23.23%2.83%20.44%
AAXJ
iShares MSCI All Country Asia ex-Japan ETF		26.46%31.53%10.41%4.79%-20.35%-5.73%23.35%17.93%-15.04%41.76%

Correlation

The correlation between IXJ and AAXJ is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.29

Correlation (3Y)
Calculated over the trailing 3-year period

0.32

Correlation (5Y)
Calculated over the trailing 5-year period

0.38

Correlation (10Y)
Calculated over the trailing 10-year period

0.47

Correlation (All Time)
Calculated using the full available price history since Aug 15, 2008

0.55

Over the past year, the correlation between IXJ and AAXJ has dropped to 0.29 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.

IXJ vs. AAXJ - Sectors Allocation Comparison

Sectors
IXJ
AAXJ

Healthcare

98.9%
2.6%

Consumer Defensive

0.5%
2.0%

Basic Materials

-

3.1%

Communication Services

-

5.9%

Consumer Cyclical

-

8.9%

Energy

-

2.2%

Financial Services

-

15.8%

Industrials

-

7.3%

Real Estate

-

1.4%

Technology

-

49.4%

Utilities

-

1.6%

Healthcare

IXJ
98.9%
AAXJ
2.6%

Consumer Defensive

IXJ
0.5%
AAXJ
2.0%

Basic Materials

IXJ

-

AAXJ
3.1%

Communication Services

IXJ

-

AAXJ
5.9%

Consumer Cyclical

IXJ

-

AAXJ
8.9%

Energy

IXJ

-

AAXJ
2.2%

Financial Services

IXJ

-

AAXJ
15.8%

Industrials

IXJ

-

AAXJ
7.3%

Real Estate

IXJ

-

AAXJ
1.4%

Technology

IXJ

-

AAXJ
49.4%

Utilities

IXJ

-

AAXJ
1.6%

Compare stocks, funds, or ETFs

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

iShares Global Healthcare ETF

iShares MSCI All Country Asia ex-Japan ETF

Often compared with IXJ:
IXJ vs. XLVIXJ vs. VHTIXJ vs. IHIIXJ vs. XDWH.LIXJ vs. FHLCIXJ vs. IVVIXJ vs. HLTH.L
Often compared with AAXJ:
AAXJ vs. VPLAAXJ vs. IEMGAAXJ vs. VWOAAXJ vs. BBAXAAXJ vs. EPPAAXJ vs. CQQQAAXJ vs. THD

Return for Risk

IXJ vs. AAXJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IXJ
IXJ Risk / Return Rank: 2222
Overall Rank
IXJ Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
IXJ Sortino Ratio Rank: 2323
Sortino Ratio Rank
IXJ Omega Ratio Rank: 2121
Omega Ratio Rank
IXJ Calmar Ratio Rank: 2323
Calmar Ratio Rank
IXJ Martin Ratio Rank: 2121
Martin Ratio Rank
AAXJ
AAXJ Risk / Return Rank: 7575
Overall Rank
AAXJ Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
AAXJ Sortino Ratio Rank: 7070
Sortino Ratio Rank
AAXJ Omega Ratio Rank: 7878
Omega Ratio Rank
AAXJ Calmar Ratio Rank: 7676
Calmar Ratio Rank
AAXJ Martin Ratio Rank: 7676
Martin Ratio Rank
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.

IXJ vs. AAXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Healthcare ETF (IXJ) 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.

IXJAAXJDifference
Sharpe ratioReturn per unit of total volatility
0.69
2.11

-1.42

Sortino ratioReturn per unit of downside risk
1.14
2.73

-1.60

Omega ratioGain probability vs. loss probability

1.13

1.40

-0.27

Calmar ratioReturn relative to maximum drawdown

0.95

3.41

-2.47

Martin ratioReturn relative to average drawdown

2.29

12.55

-10.26

IXJ vs. AAXJ - Sharpe Ratio Comparison

The current IXJ Sharpe Ratio is 0.69, which is lower than the AAXJ Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of IXJ 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

IXJ vs. AAXJ - Drawdown Comparison

The maximum IXJ drawdown since its inception was -40.60%, smaller than the maximum AAXJ drawdown of -49.37%. Use the drawdown chart below to compare losses from any high point for IXJ and AAXJ.

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Drawdown Indicators

IXJAAXJDifference

Max Drawdown

Largest peak-to-trough decline

-40.60%

-49.37%

+8.77%

Max Drawdown (1Y)

Largest decline over 1 year

-10.78%

-13.66%

+2.88%

Max Drawdown (3Y)

Largest decline over 3 years

-18.14%

-19.74%

+1.60%

Max Drawdown (5Y)

Largest decline over 5 years

-18.14%

-40.64%

+22.50%

Max Drawdown (10Y)

Largest decline over 10 years

-27.35%

-44.52%

+17.17%

Current Drawdown

Current decline from peak

-5.37%

-4.62%

-0.75%

Average Drawdown

Average peak-to-trough decline

-6.92%

-14.01%

+7.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.52%

3.71%

+0.81%

Volatility

IXJ vs. AAXJ - Volatility Comparison

The current volatility for iShares Global Healthcare ETF (IXJ) is 4.81%, while iShares MSCI All Country Asia ex-Japan ETF (AAXJ) has a volatility of 11.46%. This indicates that IXJ 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

IXJAAXJDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.81%

11.46%

-6.65%

Volatility (6M)

Calculated over the trailing 6-month period

10.46%

19.71%

-9.25%

Volatility (1Y)

Calculated over the trailing 1-year period

14.92%

22.12%

-7.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.26%

20.32%

-6.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.70%

20.42%

-4.72%

IXJ vs. AAXJ - Expense Ratio Comparison

IXJ has a 0.46% expense ratio, which is lower than AAXJ's 0.68% expense ratio.

Dividends

IXJ vs. AAXJ - Dividend Comparison

IXJ's dividend yield for the trailing twelve months is around 1.41%, less than AAXJ's 1.43% yield.

PositionTTM20252024202320222021202020192018201720162015
AAXJ
iShares MSCI All Country Asia ex-Japan ETF		1.43%1.81%1.86%1.95%1.74%2.21%1.06%1.83%2.10%1.99%1.77%2.44%
IXJ
iShares Global Healthcare ETF		1.41%1.40%1.50%1.38%1.17%1.12%1.27%1.42%2.11%1.46%1.73%2.85%

Frequently Asked Questions

IXJ and AAXJ have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

AAXJ has higher volatility (11.46%) compared to IXJ (4.81%). In terms of maximum drawdown, IXJ dropped -40.60% vs AAXJ's -49.37%.

On 10-year performance, AAXJ leads with 10.34% vs 8.43% for IXJ. On fees, IXJ is cheaper at 0.46% per year. On volatility, IXJ has been the lower-risk option at 4.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, AAXJ has performed better with a 10.34% return vs 8.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IXJ is cheaper with a 0.46% expense ratio, compared with 0.68% for AAXJ.

AAXJ has the higher dividend yield at 1.43%, compared with 1.41% for IXJ.

IXJ is categorized as Health & Biotech Equities, while AAXJ is Asia Pacific Equities. IXJ tracks S&P Global Healthcare Sector Index, while AAXJ tracks MSCI All Country Asia ex Japan Index. Their fees differ too: 0.46% for IXJ and 0.68% for AAXJ.

AAXJ currently has the higher Sharpe Ratio (2.11 vs 0.69), 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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