AAXJ — iShares MSCI All Country Asia ex Japan ETF

AAXJ Price Performance — Growth of $10,000

Value of a $10,000 investment in AAXJ over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

AAXJ Drawdown

The "underwater" chart: AAXJ's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The iShares MSCI All Country Asia ex Japan ETF is an International Developed fund issued by iShares with $3.88 billion in assets under management. It holds a B grade (67.9/100) and ranks 15th out of 22 peers in its category, placing it at #134 overall among 458 tracked ETFs. The fund’s 0.72% expense ratio is significantly higher than the category median of 0.165%, while its 1.32% dividend yield trails the median of 2.53%. Concentration risk is notable, with the top 10 holdings comprising 40.5% of assets and Taiwan Semiconductor Manufacturing Company Limited representing 16.3% of the portfolio.

The fund’s price of $119.54 sits at 85.7% of its 52-week range, reflecting strong momentum across multiple horizons. Short-term gains of 2.00% over one day and 2.30% over one week precede a 1-month return of 6.16% and a 3-month gain of 7.08%. This acceleration continues into longer periods, with 6-month, year-to-date, and 1-year returns reaching 22.43%, 24.93%, and 41.53% respectively. The 1-year return of 41.53% substantially outperforms the category median of 22.96%, contributing to its upgrade from a C to a B grade on 2026-09-01. This performance record is based on 3.0 years of available price history.

With a beta of 1.04, the ETF moves in line with the broader market, accompanied by high annualized volatility of 25.63%. Despite this volatility, the fund has generated a Sharpe ratio of 1.43, indicating efficient risk-adjusted returns relative to its price swings. The maximum drawdown of -19.74% highlights the potential for significant temporary losses during downturns. Liquidity is moderate, characterized by an average daily volume of 526,882 shares and a bid/ask spread of 6.08%.

AI-generated summary based on the data on this page.

AAXJ Top Holdings

Holdings as of 2026-04-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 40.5% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how AAXJ's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With AAXJ

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with AAXJ's top 10 — ESGE overlaps most, holding 9 of the same companies as AAXJ's top 10 (39.5% of AAXJ's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.77% (as of 2026-09-03) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 14.32 (as of 2026-09-03) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

Trade-Weighted US Dollar Index: 118.75 (as of 2026-08-28) — Measures the US dollar’s strength against major trading-partner currencies — dollar moves directly affect the US-dollar value of this fund’s international holdings.

AAXJ Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 6.08% and average daily volume is 527K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $3.88B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: AAXJ is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

AAXJ Performance History

How AAXJ Compares to Other International Developed ETFs