AAXJ
iShares MSCI All Country Asia ex Japan ETF
The iShares MSCI All Country Asia ex Japan Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI All Country Asia ex Japan Index.
Emerging Market
EQUITY
Rules-Based
MANAGEMENT STYLE
70 bp
EXPENSES
$2.4 B
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Barclays Global Investors |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 13, 2008 |
| Assets (mns) | $2,381 |
| Expense ratio | 70 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TAIWAN SEMICONDUCTOR MANUFAC | 11.0 % |
| TENCENT HOLDINGS LTD | 4.7 % |
| SAMSUNG ELECTRONICS CO LTD | 4.4 % |
| ALIBABA GROUP HOLDING LTD. | 2.2 % |
| RELIANCE INDUSTRIES LTD | 1.7 % |
| HYNIX SEMICONDUCTOR INC | 1.2 % |
| PINDUODUO, INC. SPONSORED ADR CLASS A | 1.2 % |
| ICICI BANK LTD | 1.2 % |
| AIA GROUP LTD | 1.2 % |
| HON HAI PRECISION INDUSTRY | 1.2 % |
Constituent Breakdown
| Number of holdings | 992 |
| Herfindahl-Hirschman Index | 207 |
| Wgt avg mkt cap (mns) | $168,460 |
| Large cap (>$10bn) | 82.8% |
| Mid cap ($2-10bn) | 16.9% |
| Small cap (<$2bn) | 0.2% |
| Developed mkts. | 13.0% |
| Emerging mkts. | 87.0% |
Country Exposure
 |
CHINA | 25.4 % |
 |
TAIWAN | 21.7 % |
 |
INDIA | 20.9 % |
 |
SOUTH KOREA | 13.7 % |
 |
HONG KONG | 6.2 % |
 |
SINGAPORE | 3.5 % |
 |
INDONESIA | 1.8 % |
 |
MALAYSIA | 1.6 % |
 |
THAILAND | 1.5 % |
 |
PHILIPPINES | 0.7 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 5.5% | 7.5% | 2.5% | -7.7% | 1.8% | 2.9% | 4.1% | Volatility | 15.1% | 15.5% | 18.4% | 19.5% | 22.0% | 19.8% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.64 | 33% |
| MSCI EAFE | 0.86 | 54% |
| MSCI Emg Mkts | 1.13 | 97% |
Liquidity Measures
| Avg. volume (000) | 558 |
| Turnover | 1.7% |
| Avg. Bid/Ask (% of price) | 0.02% |
| ADV of underlying (mns) | $43,986 |
Technical Indicators
| Recent close | $70.43 |
| 30d moving avg. | $73.23 |
| Annualized volatility | 20.3% |
| Relative strength (RSI) | 57 |
| Short interest (ETF) | 1.2% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. AAXJ |
Expenses vs. AAXJ |
ALTAR Score™ vs. AAXJ |
|---|---|---|---|---|
| EEMA | iShares MSCI Emerging Markets Asia ETF | 88.6% | -21 bp | +0.3% |
| EEM | iShares MSCI Emerging Markets ETF | 75.2% | -1 bp | +0.6% |
| DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 72.5% | -4 bp | +0.5% |
| FLAX | Franklin FTSE Asia Ex Japan ETF | 71.8% | -51 bp | +0.7% |
| BKEM | BNY Mellon Emerging Markets Equity ETF | 69.1% | -59 bp | +1.2% |
| EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 68.3% | -40 bp | +1.1% |
| GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 66.5% | -34 bp | +0.9% |
| IEMG | iShares Core MSCI Emerging Markets ETF | 64.5% | -61 bp | +1.2% |
| EMCR | Xtrackers Emerging Markets Carbon Reduction and Climate Impr | 63.9% | -55 bp | +1.0% |
| JHEM | John Hancock Multifactor Emerging Markets ETF | 62.7% | -21 bp | +1.8% |
Risk and Returns: AAXJ vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 7/25/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
AAXJ
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
AAXJ
6.3%
Cat. Avg
7.5%
Fund Category: Emerging
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.3% |
Recommendation
UNDERWEIGHT
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.
Category Overview
There are 161 funds in the Emerging category, with an average ALTAR Score™
of 7.5% and a standard deviation of
3.9%. AAXJ's ALTAR Score™ is approximately
0.3 standard deviations
below
the category average. This places AAXJ in the 37th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
AAXJ
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Rules-Based Emerging Market Equity ETFs |
| # of ETFs | 103 |
| Avg. Expense Ratio | 64.6 bp |
| Std. Deviation | 29 bp |
| AAXJ (70 bp) Percentile rank | 58 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| AAXJ | 70.0 | 1.8 | 71.8 |
| Peer Avg. | 51.1 | 47.0 | 98.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .