AKAF vs. IOO

Last updated Jul 17, 2026

AKAF (The Frontier Economic Fund) and IOO (iShares Global 100 ETF) are both Global Equities funds - AKAF tracks the Alaska Last Frontier Index while IOO tracks the S&P Global 100 Index (Net). Both are passively managed. Over the past year, AKAF returned 25.07% vs 27.86% for IOO. A 0.60 correlation means they provide meaningful diversification when combined. AKAF charges 0.20%/yr vs 0.40%/yr for IOO.

Performance

AKAF vs. IOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Frontier Economic Fund (AKAF) and iShares Global 100 ETF (IOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AKAF achieves a 9.84% return, which is significantly lower than IOO's 10.67% return.

AKAF

• 1D: 0.43%
• 1M: -2.82%
• 6M: 2.45%
• YTD: 9.84%
• 1Y: 25.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IOO

• 1D: -0.89%
• 1M: 0.29%
• 6M: 9.29%
• YTD: 10.67%
• 1Y: 27.86%
• 3Y*: 23.22%
• 5Y*: 15.70%
• 10Y*: 16.21%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AKAF vs. IOO - Yearly Performance Comparison

	2026 (YTD)	2025
AKAF The Frontier Economic Fund	9.84%	17.17%
IOO iShares Global 100 ETF	10.67%	20.14%

Correlation

The correlation between AKAF and IOO is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.60

The correlation between AKAF and IOO has been stable across timeframes, ranging from 0.60 to 0.61 - a consistent structural relationship.

Return for Risk

AKAF vs. IOO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AKAF

AKAF Risk / Return Rank: 65
AKAF Sharpe Ratio Rank: 64
AKAF Sortino Ratio Rank: 64
AKAF Omega Ratio Rank: 64
AKAF Calmar Ratio Rank: 67
AKAF Martin Ratio Rank: 66

IOO

IOO Risk / Return Rank: 74
IOO Sharpe Ratio Rank: 77
IOO Sortino Ratio Rank: 75
IOO Omega Ratio Rank: 73
IOO Calmar Ratio Rank: 70
IOO Martin Ratio Rank: 74

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AKAF vs. IOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Frontier Economic Fund (AKAF) and iShares Global 100 ETF (IOO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AKAF	IOO	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.95	-0.25
Sortino ratio: Return per unit of downside risk	2.39	2.69	-0.29
Omega ratio: Gain probability vs. loss probability	1.31	1.34	-0.03
Calmar ratio: Return relative to maximum drawdown	2.70	2.82	-0.11
Martin ratio: Return relative to average drawdown	9.28	10.92	-1.64

AKAF vs. IOO - Sharpe Ratio Comparison

The current AKAF Sharpe Ratio is 1.70, which is comparable to the IOO Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of AKAF and IOO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AKAF vs. IOO - Drawdown Comparison

The maximum AKAF drawdown since its inception was -9.32%, smaller than the maximum IOO drawdown of -55.85%. Use the drawdown chart below to compare losses from any high point for AKAF and IOO.

Drawdown Indicators

	AKAF	IOO	Difference
Max Drawdown Largest peak-to-trough decline	-9.32%	-55.85%	+46.53%
Max Drawdown (1Y) Largest decline over 1 year	-9.32%	-9.94%	+0.62%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.19%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-23.52%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.43%	—
Current Drawdown Current decline from peak	-3.26%	-2.73%	-0.53%
Average Drawdown Average peak-to-trough decline	-1.77%	-11.23%	+9.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	2.56%	+0.15%

Volatility

AKAF vs. IOO - Volatility Comparison

The current volatility for The Frontier Economic Fund (AKAF) is 3.12%, while iShares Global 100 ETF (IOO) has a volatility of 4.03%. This indicates that AKAF experiences smaller price fluctuations and is considered to be less risky than IOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AKAF	IOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.12%	4.03%	-0.91%
Volatility (6M) Calculated over the trailing 6-month period	11.51%	11.72%	-0.21%
Volatility (1Y) Calculated over the trailing 1-year period	14.83%	14.35%	+0.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.68%	17.19%	-2.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.68%	17.70%	-3.02%

AKAF vs. IOO - Expense Ratio Comparison

AKAF has a 0.20% expense ratio, which is lower than IOO's 0.40% expense ratio.

Dividends

AKAF vs. IOO - Dividend Comparison

AKAF's dividend yield for the trailing twelve months is around 3.00%, more than IOO's 0.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AKAF The Frontier Economic Fund	3.00%	2.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IOO iShares Global 100 ETF	0.84%	0.92%	1.08%	1.49%	2.00%	1.53%	1.49%	2.02%	2.54%	2.23%	2.75%	2.89%

Frequently Asked Questions

Can I hold both AKAF and IOO in my portfolio?

AKAF and IOO have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AKAF or IOO?

IOO has higher volatility (4.03%) compared to AKAF (3.12%). In terms of maximum drawdown, AKAF dropped -9.32% vs IOO's -55.85%.

Which ETF is better, AKAF or IOO?

On 1-year performance, IOO leads with 27.86% vs 25.07% for AKAF. On fees, AKAF is cheaper at 0.20% per year. On volatility, AKAF has been the lower-risk option at 3.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AKAF or IOO?

Over the 1-year period, IOO has performed better with a 27.86% return vs 25.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AKAF or IOO?

AKAF is cheaper with a 0.20% expense ratio, compared with 0.40% for IOO.

Which ETF pays a higher dividend yield, AKAF or IOO?

AKAF has the higher dividend yield at 3.00%, compared with 0.84% for IOO.

What is the main difference between AKAF and IOO?

AKAF tracks Alaska Last Frontier Index, while IOO tracks S&P Global 100 Index (Net). They also come from different issuers: Prospr Aligned and iShares. Their fees differ too: 0.20% for AKAF and 0.40% for IOO.

Which has better risk-adjusted returns?

IOO currently has the higher Sharpe Ratio (1.95 vs 1.70), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.