PPL.TO vs. AAXJ
PPL.TO (Pembina Pipeline Corporation) 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, PPL.TO returned 11.55%/yr vs 11.29%/yr for AAXJ. At a 0.25 correlation, their price movements are largely independent.
Performance
PPL.TO vs. AAXJ - Performance Comparison
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Different Trading Currencies
PPL.TO is traded in CAD, while AAXJ is traded in USD. To make them comparable, the AAXJ values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, PPL.TO achieves a 30.78% return, which is significantly higher than AAXJ's 29.02% return. Both investments have delivered pretty close results over the past 10 years, with PPL.TO having a 11.55% annualized return and AAXJ not far behind at 11.29%.
PPL.TO
- 1D
- -0.46%
- 1M
- 0.36%
- YTD
- 30.78%
- 6M
- 28.18%
- 1Y
- 36.20%
- 3Y*
- 23.83%
- 5Y*
- 17.18%
- 10Y*
- 11.55%
AAXJ
- 1D
- 0.65%
- 1M
- 6.31%
- YTD
- 29.02%
- 6M
- 31.61%
- 1Y
- 52.81%
- 3Y*
- 23.94%
- 5Y*
- 9.53%
- 10Y*
- 11.29%
PPL.TO vs. AAXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PPL.TO Pembina Pipeline Corporation | 30.78% | 3.76% | 22.71% | 5.56% | 26.63% | 36.13% | -32.39% | 24.75% | -6.28% | 13.75% |
AAXJ iShares MSCI All Country Asia ex-Japan ETF | 29.02% | 25.52% | 19.76% | 2.29% | -15.30% | -5.78% | 20.43% | 13.07% | -7.89% | 32.16% |
Correlation
The correlation between PPL.TO and AAXJ is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2008 | 0.25 |
The correlation between PPL.TO and AAXJ shifts across timeframes, from -0.10 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PPL.TO vs. AAXJ — Risk / Return Rank
PPL.TO
AAXJ
PPL.TO vs. AAXJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pembina Pipeline Corporation (PPL.TO) 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.
| PPL.TO | AAXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.41 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.94 | 4.02 | -1.08 |
| Martin ratioReturn relative to average drawdown | 6.93 | 13.92 | -7.00 |
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Drawdowns
PPL.TO vs. AAXJ - Drawdown Comparison
The maximum PPL.TO drawdown since its inception was -68.76%, which is greater than AAXJ's maximum drawdown of -40.43%. Use the drawdown chart below to compare losses from any high point for PPL.TO and AAXJ.
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Drawdown Indicators
| PPL.TO | AAXJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.76% | -40.43% | -28.33% |
Max Drawdown (1Y)Largest decline over 1 year | -12.82% | -12.40% | -0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -16.36% | -16.45% | +0.09% |
Max Drawdown (5Y)Largest decline over 5 years | -20.19% | -34.26% | +14.07% |
Max Drawdown (10Y)Largest decline over 10 years | -68.76% | -40.43% | -28.33% |
Current DrawdownCurrent decline from peak | -1.26% | -3.70% | +2.44% |
Average DrawdownAverage peak-to-trough decline | -10.20% | -11.19% | +0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.43% | 3.58% | +1.85% |
Volatility
PPL.TO vs. AAXJ - Volatility Comparison
The current volatility for Pembina Pipeline Corporation (PPL.TO) is 6.30%, while iShares MSCI All Country Asia ex-Japan ETF (AAXJ) has a volatility of 11.52%. This indicates that PPL.TO 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
| PPL.TO | AAXJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.30% | 11.52% | -5.22% |
Volatility (6M)Calculated over the trailing 6-month period | 13.47% | 19.97% | -6.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.99% | 22.33% | -3.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.62% | 21.18% | -2.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.89% | 21.49% | +9.40% |
Dividends
PPL.TO vs. AAXJ - Dividend Comparison
PPL.TO's dividend yield for the trailing twelve months is around 4.20%, more than AAXJ's 1.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PPL.TO Pembina Pipeline Corporation | 4.20% | 5.39% | 5.15% | 5.82% | 5.55% | 6.57% | 8.37% | 4.90% | 5.53% | 4.48% | 4.52% | 5.97% |
Frequently Asked Questions
PPL.TO and AAXJ have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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