The Axis uses a "tubular" receiver, cast bolt handle, and is overall a more budget oriented rifle. Kind of tongue in cheek as the original 110 was a "budget" alternative to the Win Model 70.
The Axis II comes with the Accutrigger which is present on most 10/110 rifles. The Axis "1" does not, and is known to be kind of rough, but can be improved, but not to the level of an accutrigger.
Accutriggers are generally an $80-$100 upgrade if you want one later.
Pricewise, the Model 11 typically runs $100-$200 more expensive than the Axis.
Axis stocks are also more cheaply made (think flexible) than the standard non-accustock model 10/110's, but that also makes them slightly lighter
The Axis receiver being "tubular" means that the receiver fully encloses over the top of the action, leaving only an ovoid opening for the ejection of shells. This adds rigidity an allows thinner lighter metal to be used.
Disadvantage is that it is a pain to try and "single load" shells through the opening (but Axis have detachable mags mitigating this somewhat). The advantage is cost and weight. I believe they are about 1/2 lb lighter than an equivalent 10/110 rifle.
(another technical disadvantage is that the axis is not factory made for Magnum calibers)
The axis uses the same barrels (small shank) and barrel nuts as the 10/110 allowing for end user barrel changes and customization.
Accuracy between the 2 is typically on par.
Aftermarket customization is lower for the Axis but still plentiful within the limitations of its design.
Between the two, I would lean toward a model 11 given that often the price difference can be relegated to the upgraded components (accutrigger, better stock, better receiver, better aftermarket). But if the price difference was great, of the axis was cheap enough, I would never say no on account of quality.
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