AAXJ vs PZA

Comparison between ISHARES MSCI ALL COUNTRY ASIA EX JAPAN ETF (AAXJ, ETF) and INVESCO NATIONAL AMT-FREE MUNICIPAL BOND ETF (PZA, ETF).

5-Year PerformanceAAXJ has outperformed PZA, delivering a return of +6.6% compared to +0.0%

AAXJ vs PZA - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	AAXJ(ETF)	PZA(ETF)
Net Assets	$4B	$4.10B
Expense Ratio	0.72%	0.28%
Max Drawdown	49.37%	27.00%
Sharpe Ratio	1.67	1.14
5Y Beta	0.88	0.05
5Y Dividends CAGR	11.41%	6.11%

Net Assets

AAXJ

$4B

Winner

PZA

$4.10B

Expense Ratio

AAXJ

0.72%

Winner

PZA

0.28%

Max Drawdown

AAXJ

49.37%

Winner

PZA

27.00%

Sharpe Ratio

Winner

AAXJ

1.67

PZA

1.14

5Y Beta

AAXJ

0.88

Winner

PZA

0.05

5Y Dividends CAGR

Winner

AAXJ

11.41%

PZA

6.11%

AAXJ vs PZA - Historical Returns

Returns include dividend reinvestment.

Period	AAXJ	PZA
1 month	+2.67%	+2.10%
3 months	+19.16%	+2.97%
6 months	+26.95%	+2.79%
1 year	+47.85%	+8.47%
5 years(CAGR)	+6.62%	+0.05%
10 years(CAGR)	+9.79%	+1.84%
Max(CAGR)	+6.73%	+3.25%

Winner

AAXJ

+2.67%

PZA

+2.10%

Winner

AAXJ

+19.16%

PZA

+2.97%

Winner

AAXJ

+26.95%

PZA

+2.79%

Winner

AAXJ

+47.85%

PZA

+8.47%

5Y(CAGR)

Winner

AAXJ

+6.62%

PZA

+0.05%

10Y(CAGR)

Winner

AAXJ

+9.79%

PZA

+1.84%

Max(CAGR)

Winner

AAXJ

+6.73%

PZA

+3.25%

AAXJ vs PZA - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	AAXJ	PZA
2026	+21.97%	+2.39%
2025	+32.06%	+1.38%
2024	+12.32%	+0.81%
2023	+3.42%	+7.75%
2022	-20.91%	-13.00%
2021	-6.56%	+2.26%
2020	+21.04%	+4.91%
2019	+18.74%	+8.48%
2018	-16.78%	+0.07%
2017	+40.39%	+6.78%
2016	+7.84%	+0.62%
2015	-9.87%	+3.65%
2014	+6.28%	+15.05%
2013	-0.52%	-6.96%
2012	+20.37%	+9.84%
2011	-21.26%	+13.58%
2010	+13.23%	-0.41%
2009	+60.72%	+17.92%
2008	-32.98%	-12.12%
2007	N/A	+0.75%

AAXJ vs PZA Drawdown Comparison

The maximum drawdown for AAXJ was -49.37%, occurring on Nov 20, 2008. Recovery took 232 trading sessions.

The maximum drawdown for PZA was -24.48%, occurring on Oct 15, 2008. Recovery took 416 trading sessions.

The current AAXJ drawdown is -6.03%. The current PZA drawdown is -0.91%.

Rank	AAXJ	PZA
#1	-49.37% Aug 15, 2008 - Jul 20, 2009	-24.48% Jan 17, 2008 - Sep 11, 2009
#2	-44.50% Feb 17, 2021 - Oct 20, 2025	-21.69% Mar 9, 2020 - Dec 7, 2020
#3	-32.99% Jan 26, 2018 - Oct 9, 2020	-18.55% Jul 19, 2021 - Oct 25, 2022
#4	-31.09% Apr 27, 2015 - May 25, 2017	-12.46% Nov 30, 2012 - Jul 14, 2014
#5	-29.50% Apr 21, 2011 - May 16, 2014	-11.77% May 10, 2010 - Aug 3, 2011
#6	-15.57% Apr 14, 2010 - Sep 20, 2010	-7.07% Jul 8, 2016 - Aug 29, 2017
#7	-14.07% Jan 11, 2010 - Apr 1, 2010	-4.07% Oct 1, 2009 - Apr 27, 2010
#8	-13.66% Feb 25, 2026 - Apr 17, 2026	-3.43% Feb 2, 2015 - Nov 19, 2015
#9	-10.90% Sep 5, 2014 - Apr 8, 2015	-2.99% Dec 29, 2017 - Jan 2, 2019
#10	-9.49% Nov 5, 2010 - Apr 21, 2011	-2.99% Oct 24, 2007 - Jan 2, 2008
#11	-9.25% Jun 2, 2026 - Jun 18, 2026	-2.80% Feb 10, 2021 - May 28, 2021
#12	-8.35% Aug 3, 2009 - Sep 10, 2009	-2.29% Sep 22, 2011 - Dec 14, 2011
#13	-8.19% Oct 19, 2009 - Nov 16, 2009	-1.72% Sep 3, 2019 - Jan 6, 2020
#14	-6.51% Jul 20, 2009 - Aug 3, 2009	-1.72% Oct 15, 2014 - Dec 12, 2014
#15	-6.03% Jun 22, 2026 - Jun 23, 2026	-1.58% Feb 2, 2012 - Apr 13, 2012

Correlation

Correlation between AAXJ and PZA is 0.85 which considered as a strong positive correlation - the stocks tend to move together.

0.85

-101

Dividend Comparison (2007 - 2026)

AAXJ vs PZA dividend yield comparison.

Year	AAXJ	PZA
2026	0.36%	1.84%
2025	1.81%	3.55%
2024	1.86%	3.22%
2023	1.95%	2.91%
2022	1.74%	2.68%
2021	2.21%	2.34%
2020	1.06%	2.44%
2019	1.83%	2.81%
2018	2.10%	3.19%
2017	1.99%	3.04%
2016	1.77%	3.23%
2015	2.44%	3.59%
2014	1.78%	3.96%
2013	1.77%	4.27%
2012	1.73%	4.11%
2011	2.11%	4.48%
2010	1.51%	4.90%
2009	1.26%	4.68%
2008	0.19%	5.07%
2007	0.00%	0.93%