TRP vs. AAXJ
TRP (TC Energy 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, TRP returned 12.24%/yr vs 10.34%/yr for AAXJ. At a 0.41 correlation, their price movements are largely independent.
Performance
TRP vs. AAXJ - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with TRP having a 27.41% return and AAXJ slightly lower at 26.46%. Over the past 10 years, TRP has outperformed AAXJ with an annualized return of 12.24%, while AAXJ has yielded a comparatively lower 10.34% annualized return.
TRP
- 1D
- 0.12%
- 1M
- 1.69%
- YTD
- 27.41%
- 6M
- 29.66%
- 1Y
- 46.49%
- 3Y*
- 30.95%
- 5Y*
- 14.55%
- 10Y*
- 12.24%
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%
TRP vs. AAXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRP TC Energy Corporation | 27.41% | 24.02% | 39.88% | 6.09% | -7.83% | 20.99% | -19.09% | 56.30% | -22.64% | 13.51% |
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 TRP and AAXJ is 0.05, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2008 | 0.41 |
Over the past year, the correlation between TRP and AAXJ has dropped to 0.05 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.
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Return for Risk
TRP vs. AAXJ — Risk / Return Rank
TRP
AAXJ
TRP vs. AAXJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TC Energy Corporation (TRP) 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.
| TRP | AAXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.40 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.70 | 3.41 | +1.28 |
| Martin ratioReturn relative to average drawdown | 14.42 | 12.55 | +1.87 |
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Drawdowns
TRP vs. AAXJ - Drawdown Comparison
The maximum TRP drawdown since its inception was -62.52%, which is greater than AAXJ's maximum drawdown of -49.37%. Use the drawdown chart below to compare losses from any high point for TRP and AAXJ.
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Drawdown Indicators
| TRP | AAXJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.52% | -49.37% | -13.15% |
Max Drawdown (1Y)Largest decline over 1 year | -9.65% | -13.66% | +4.01% |
Max Drawdown (3Y)Largest decline over 3 years | -17.00% | -19.74% | +2.74% |
Max Drawdown (5Y)Largest decline over 5 years | -37.05% | -40.64% | +3.59% |
Max Drawdown (10Y)Largest decline over 10 years | -41.64% | -44.52% | +2.88% |
Current DrawdownCurrent decline from peak | -2.14% | -4.62% | +2.48% |
Average DrawdownAverage peak-to-trough decline | -11.72% | -14.01% | +2.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 3.71% | -0.45% |
Volatility
TRP vs. AAXJ - Volatility Comparison
The current volatility for TC Energy Corporation (TRP) is 5.62%, while iShares MSCI All Country Asia ex-Japan ETF (AAXJ) has a volatility of 11.46%. This indicates that TRP 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
| TRP | AAXJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.62% | 11.46% | -5.84% |
Volatility (6M)Calculated over the trailing 6-month period | 13.27% | 19.71% | -6.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.71% | 22.12% | -4.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.86% | 20.32% | +1.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.83% | 20.42% | +4.41% |
Dividends
TRP vs. AAXJ - Dividend Comparison
TRP's dividend yield for the trailing twelve months is around 3.58%, 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% |
TRP TC Energy Corporation | 3.58% | 4.45% | 5.93% | 7.73% | 8.52% | 5.94% | 5.92% | 4.25% | 5.85% | 5.14% | 5.01% | 6.38% |
Frequently Asked Questions
TRP and AAXJ have a correlation of 0.05, 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 TRP (5.62%). In terms of maximum drawdown, TRP dropped -62.52% vs AAXJ's -49.37%.
TRP currently has the higher Sharpe Ratio (2.56 vs 2.11), 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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