UIMI.DE vs. AAXJ
UIMI.DE (UBS ETF (LU) MSCI Emerging Markets UCITS ETF (USD) A-dis) and AAXJ (iShares MSCI All Country Asia ex-Japan ETF) are both exchange-traded funds - UIMI.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets, 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, UIMI.DE returned 10.38%/yr vs 10.28%/yr for AAXJ. A 0.77 correlation means they provide meaningful diversification when combined. UIMI.DE charges 0.18%/yr vs 0.68%/yr for AAXJ.
Performance
UIMI.DE vs. AAXJ - Performance Comparison
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Different Trading Currencies
UIMI.DE is traded in EUR, while AAXJ is traded in USD. To make them comparable, the AAXJ values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, UIMI.DE achieves a 29.16% return, which is significantly lower than AAXJ's 31.84% return. Both investments have delivered pretty close results over the past 10 years, with UIMI.DE having a 10.38% annualized return and AAXJ not far behind at 10.28%.
UIMI.DE
- 1D
- 0.50%
- 1M
- 2.41%
- YTD
- 29.16%
- 6M
- 31.10%
- 1Y
- 48.56%
- 3Y*
- 21.85%
- 5Y*
- 8.45%
- 10Y*
- 10.38%
AAXJ
- 1D
- 0.93%
- 1M
- 2.63%
- YTD
- 31.84%
- 6M
- 33.12%
- 1Y
- 49.40%
- 3Y*
- 22.16%
- 5Y*
- 7.58%
- 10Y*
- 10.28%
UIMI.DE vs. AAXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UIMI.DE UBS ETF (LU) MSCI Emerging Markets UCITS ETF (USD) A-dis | 29.16% | 20.11% | 13.22% | 5.76% | -14.11% | 4.18% | 6.29% | 22.10% | -11.17% | 20.67% |
AAXJ iShares MSCI All Country Asia ex-Japan ETF | 31.84% | 15.92% | 17.70% | 1.64% | -15.41% | 1.32% | 13.19% | 20.60% | -11.05% | 24.34% |
Correlation
The correlation between UIMI.DE and AAXJ is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2010 | 0.77 |
The correlation between UIMI.DE and AAXJ has been stable across timeframes, ranging from 0.77 to 0.83 - a consistent structural relationship.
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Return for Risk
UIMI.DE vs. AAXJ — Risk / Return Rank
UIMI.DE
AAXJ
UIMI.DE vs. AAXJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) MSCI Emerging Markets UCITS ETF (USD) A-dis (UIMI.DE) 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.
| UIMI.DE | AAXJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.43 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.71 | 4.50 | +0.22 |
| Martin ratioReturn relative to average drawdown | 16.14 | 15.16 | +0.98 |
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Drawdowns
UIMI.DE vs. AAXJ - Drawdown Comparison
The maximum UIMI.DE drawdown since its inception was -47.57%, which is greater than AAXJ's maximum drawdown of -40.28%. Use the drawdown chart below to compare losses from any high point for UIMI.DE and AAXJ.
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Drawdown Indicators
| UIMI.DE | AAXJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.57% | -40.28% | -7.29% |
Max Drawdown (1Y)Largest decline over 1 year | -10.25% | -11.04% | +0.79% |
Max Drawdown (3Y)Largest decline over 3 years | -19.74% | -19.60% | -0.14% |
Max Drawdown (5Y)Largest decline over 5 years | -23.92% | -28.40% | +4.48% |
Max Drawdown (10Y)Largest decline over 10 years | -32.04% | -32.35% | +0.31% |
Current DrawdownCurrent decline from peak | -3.94% | -4.20% | +0.26% |
Average DrawdownAverage peak-to-trough decline | -18.15% | -11.25% | -6.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 3.27% | -0.27% |
Volatility
UIMI.DE vs. AAXJ - Volatility Comparison
The current volatility for UBS ETF (LU) MSCI Emerging Markets UCITS ETF (USD) A-dis (UIMI.DE) is 8.78%, while iShares MSCI All Country Asia ex-Japan ETF (AAXJ) has a volatility of 12.27%. This indicates that UIMI.DE 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
| UIMI.DE | AAXJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.78% | 12.27% | -3.49% |
Volatility (6M)Calculated over the trailing 6-month period | 16.70% | 19.59% | -2.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.16% | 22.00% | -2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.07% | 19.01% | -1.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.37% | 19.76% | -1.39% |
UIMI.DE vs. AAXJ - Expense Ratio Comparison
UIMI.DE has a 0.18% expense ratio, which is lower than AAXJ's 0.68% expense ratio.
Dividends
UIMI.DE vs. AAXJ - Dividend Comparison
UIMI.DE's dividend yield for the trailing twelve months is around 1.67%, 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% |
UIMI.DE UBS ETF (LU) MSCI Emerging Markets UCITS ETF (USD) A-dis | 1.67% | 2.30% | 2.10% | 2.63% | 2.91% | 1.68% | 1.82% | 2.17% | 2.03% | 1.67% | 2.54% | 2.72% |
Frequently Asked Questions
UIMI.DE and AAXJ have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UIMI.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UIMI.DE is cheaper with a 0.18% expense ratio, compared with 0.68% for AAXJ.
UIMI.DE is categorized as Emerging Markets Equities, while AAXJ is Asia Pacific Equities. UIMI.DE tracks MSCI Emerging Markets, while AAXJ tracks MSCI All Country Asia ex Japan Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.18% for UIMI.DE and 0.68% for AAXJ.
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