iShares MSCI All Country Asia ex Japan ETF (AAXJ) Performance
AAXJ total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +14.7% since Dec 31, 2025
- 1 year
- +15.3% total return
- 5 years
- +5.9% a year
- 10 years
- +7.9% a year
- Since first price
- +6.1% a year since 2008
AAXJ trailing returns vs SPY, QQQ, AGG
| Period | AAXJ total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −9.7% | −9.7% | −1.0% | −5.0% | +0.9% |
| 3 months | −5.2% | −5.2% | +3.2% | +1.9% | −0.4% |
| 6 months | +0.2% | −0.1% | +7.8% | +8.4% | −1.5% |
| YTD | +14.7% | +14.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +15.3% | +13.4% | +14.4% | +15.9% | −1.1% |
| 3 years | +82.6%+22.2%/yr | +72.3% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +33.3%+5.9%/yr | +20.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +113.8%+7.9%/yr | +77.7% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +174.0%+7.0%/yr | +107.6% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionAug 15, 2008 | +192.4%+6.1%/yr | +112.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: AAXJ vs SPY
From Aug 15, 2008: AAXJ grew to $29,245, SPY to $81,361.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
AAXJ returns by calendar year
12 of 17 full years positive. Best 2009 (+68.5%), worst 2022 (−20.4%). 2026 is year to date.
AAXJ annual returns table
| Year | AAXJ | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +14.7% | −14.9% | +12.3% | +15.1% | −1.0% |
| 2025 | +31.5% | −15.7% | +17.7% | +20.8% | +7.2% |
| 2024 | +10.4% | −10.9% | +24.9% | +25.6% | +1.3% |
| 2023 | +5.1% | −15.7% | +26.2% | +54.9% | +5.7% |
| 2022 | −20.4% | −35.2% | −18.2% | −32.6% | −13.0% |
| 2021 | −5.7% | −19.8% | +28.7% | +27.4% | −1.8% |
| 2020 | +23.4% | −29.5% | +18.3% | +48.6% | +7.5% |
| 2019 | +17.9% | −14.0% | +31.2% | +39.0% | +8.5% |
| 2018 | −15.0% | −26.4% | −4.6% | −0.1% | +0.1% |
| 2017 | +41.8% | −5.7% | +21.7% | +32.7% | +3.6% |
| 2016 | +4.7% | −10.9% | +12.0% | +7.1% | +2.4% |
| 2015 | −10.3% | −28.6% | +1.2% | +9.4% | +0.5% |
| 2014 | +2.9% | −10.9% | +13.5% | +19.2% | +6.0% |
| 2013 | +1.6% | −15.5% | +32.3% | +36.6% | −2.0% |
| 2012 | +23.6% | −15.5% | +16.0% | +18.1% | +3.8% |
| 2011 | −20.2% | −29.5% | +1.9% | +3.4% | +7.7% |
| 2010 | +16.2% | −15.6% | +15.1% | +19.9% | +6.4% |
| 2009 | +68.5% | −26.0% | +26.4% | +54.7% | +3.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
AAXJ largest drawdowns
Now 14.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Aug 15, 2008 | −49.4% | Nov 20, 2008 | Jul 20, 2009 | 3 months | 11 months |
| Feb 17, 2021 | −44.5% | Oct 24, 2022 | Oct 20, 2025 | 1.7 years | 4.7 years |
| Jan 26, 2018 | −33.0% | Mar 23, 2020 | Oct 9, 2020 | 2.2 years | 2.7 years |
| Apr 27, 2015 | −31.1% | Jan 20, 2016 | May 25, 2017 | 9 months | 2.1 years |
| Apr 21, 2011 | −29.5% | Oct 3, 2011 | May 16, 2014 | 5 months | 3.1 years |
| Apr 14, 2010 | −15.6% | May 20, 2010 | Sep 20, 2010 | 36 days | 5 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
AAXJ risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2008 |
|---|---|---|---|---|
| Annualized return | +24.8% | +8.6% | +8.8% | +6.7% |
| Volatility (annualized) | 16.2% | 19.3% | 17.9% | 20.4% |
| Sharpe ratio | 1.18 | 0.34 | 0.43 | 0.36 |
| Sortino ratio | 2.19 | 0.56 | 0.68 | 0.55 |
| Best month | +14.1% | +20.2% | +20.2% | +20.2% |
| Worst month | −9.7% | −12.6% | −12.6% | −20.6% |
| Best 12 months | +56.7% | +56.7% | +57.0% | +87.4% |
| Worst 12 months | +10.3% | −34.2% | −34.2% | −34.2% |
| Positive months | 72% | 57% | 61% | 58% |
| Beta vs S&P 500 | 0.84 | 0.73 | 0.74 | — |
| Correlation with S&P 500 | 0.65 | 0.59 | 0.63 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
AAXJ rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 207 | −34.2% | +9.5% | +87.4% | 68% |
| 3-year (a year) | 183 | −10.5% | +5.1% | +28.9% | 81% |
| 5-year (a year) | 159 | −4.1% | +4.4% | +17.3% | 87% |
| 10-year (a year) | 99 | +1.7% | +4.9% | +11.3% | 100% |
Every holding period starting at a month-end since 2008. Returns for 3 years and longer are annualized.
AAXJ performance overview
iShares MSCI All Country Asia ex Japan ETF (AAXJ) returned +15.3% over the past year and +7.9% a year over ten years, with distributions reinvested. Since its first recorded price in 2008 it has returned +6.1% a year, turning $10,000 into about $29,245. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −49.4%, from Aug 15, 2008 to Nov 20, 2008, and it took 8 months to get back to the old high. AAXJ finished 12 of its 17 full calendar years with a gain; the best year was 2009 (+68.5%) and the worst 2022 (−20.4%). Volatility has been 20.4% a year.
Related: AAXJ chart, AAXJ holdings, AAXJ dividends. See the AAXJ overview for the latest quote and fund facts.
AAXJ performance FAQ
What is the AAXJ return over the past year?
AAXJ returned +15.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 13.4%.
What is the average annual return of AAXJ?
AAXJ has returned +5.9% a year over 5 years, +7.9% a year over 10 years, +6.1% a year since August 15, 2008 (total return, distributions reinvested).
How much would $10,000 invested in AAXJ be worth?
$10,000 invested in AAXJ at its first recorded close on August 15, 2008 would be worth about $29,245 on October 23, 2026 with distributions reinvested.
What was the worst year for AAXJ?
The worst calendar year was 2022, with a total return of −20.4%. The best was 2009 at +68.5%.
What is the biggest drawdown of AAXJ?
The largest peak-to-trough decline was −49.4% between August 15, 2008 and November 20, 2008. It recovered to the old high on July 20, 2009, 8 months after the bottom.
How volatile is AAXJ?
Over the past 3 years AAXJ had an annualized volatility of 16.2% and a Sharpe ratio of 1.18 (excess return over 1–3 month T-bills per unit of risk).