ALLW vs. AGOX

Last updated Aug 4, 2026

ALLW (State Street Bridgewater All Weather ETF) and AGOX (Adaptive Alpha Opportunities ETF) are both Tactical Allocation funds. Both are actively managed. Over the past year, ALLW returned 17.15% vs 15.99% for AGOX. Their 0.42 correlation means their historical movements had little consistent relationship. ALLW charges 0.85%/yr vs 1.33%/yr for AGOX.

Performance

ALLW vs. AGOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Bridgewater All Weather ETF (ALLW) and Adaptive Alpha Opportunities ETF (AGOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ALLW achieves a 6.33% return, which is significantly lower than AGOX's 16.49% return.

ALLW

• 1D: 0.14%
• 1M: -0.03%
• 6M: 2.81%
• YTD: 6.33%
• 1Y: 17.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.64%

AGOX

• 1D: -0.27%
• 1M: -3.03%
• 6M: 11.89%
• YTD: 16.49%
• 1Y: 15.99%
• 3Y*: 14.87%
• 5Y*: 7.82%
• 10Y*: —
• ALL TIME*: 8.56%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AGOX Adaptive Alpha Opportunities ETF	$2.70M	$2.62M	$2.75M
ALLW State Street Bridgewater All Weather ETF	$11.63M	$11.75M	$17.60M

ALLW vs. AGOX - Yearly Performance Comparison

	2026 (YTD)	2025
ALLW State Street Bridgewater All Weather ETF	6.33%	15.44%
AGOX Adaptive Alpha Opportunities ETF	16.49%	10.08%

Correlation

The correlation between ALLW and AGOX is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.53
Correlation (All Time) Calculated using the full available price history since Mar 6, 2025	0.42

The correlation between ALLW and AGOX shifts across timeframes, from 0.42 (all time) to 0.53 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ALLW vs. AGOX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ALLW

ALLW Risk / Return Rank: 64
ALLW Sharpe Ratio Rank: 65
ALLW Sortino Ratio Rank: 61
ALLW Omega Ratio Rank: 64
ALLW Calmar Ratio Rank: 67
ALLW Martin Ratio Rank: 65

AGOX

AGOX Risk / Return Rank: 34
AGOX Sharpe Ratio Rank: 33
AGOX Sortino Ratio Rank: 35
AGOX Omega Ratio Rank: 34
AGOX Calmar Ratio Rank: 31
AGOX Martin Ratio Rank: 35

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ALLW vs. AGOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Bridgewater All Weather ETF (ALLW) and Adaptive Alpha Opportunities ETF (AGOX). 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.

	ALLW	AGOX	Difference
Sharpe ratio: Return per unit of total volatility	1.55	0.84	+0.71
Sortino ratio: Return per unit of downside risk	2.09	1.35	+0.74
Omega ratio: Gain probability vs. loss probability	1.28	1.16	+0.12
Calmar ratio: Return relative to maximum drawdown	2.38	1.05	+1.33
Martin ratio: Return relative to average drawdown	8.05	3.53	+4.52

ALLW vs. AGOX - Sharpe Ratio Comparison

The current ALLW Sharpe Ratio is 1.55, which is higher than the AGOX Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of ALLW and AGOX, 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

ALLW vs. AGOX - Drawdown Comparison

The maximum ALLW drawdown since its inception was -8.78%, smaller than the maximum AGOX drawdown of -26.93%. Use the drawdown chart below to compare losses from any high point for ALLW and AGOX.

Drawdown Indicators

	ALLW	AGOX	Difference
Max Drawdown Largest peak-to-trough decline	-8.78%	-26.93%	+18.15%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-15.32%	+8.09%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.15%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.93%	—
Current Drawdown Current decline from peak	-3.40%	-6.23%	+2.83%
Average Drawdown Average peak-to-trough decline	-1.42%	-8.04%	+6.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	4.54%	-2.41%

Volatility

ALLW vs. AGOX - Volatility Comparison

The current volatility for State Street Bridgewater All Weather ETF (ALLW) is 2.84%, while Adaptive Alpha Opportunities ETF (AGOX) has a volatility of 5.29%. This indicates that ALLW experiences smaller price fluctuations and is considered to be less risky than AGOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALLW	AGOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.84%	5.29%	-2.45%
Volatility (6M) Calculated over the trailing 6-month period	8.90%	16.63%	-7.73%
Volatility (1Y) Calculated over the trailing 1-year period	11.15%	19.23%	-8.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.44%	19.81%	-7.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.44%	19.63%	-7.19%

ALLW vs. AGOX - Expense Ratio Comparison

ALLW has a 0.85% expense ratio, which is lower than AGOX's 1.33% expense ratio.

Dividends

ALLW vs. AGOX - Dividend Comparison

ALLW's dividend yield for the trailing twelve months is around 4.40%, more than AGOX's 2.77% yield.

Position	TTM	2025	2024	2023	2022	2021
AGOX Adaptive Alpha Opportunities ETF	2.77%	3.23%	3.94%	0.27%	0.20%	6.36%
ALLW State Street Bridgewater All Weather ETF	4.40%	4.67%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ALLW and AGOX in my portfolio?

ALLW and AGOX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ALLW or AGOX?

AGOX has higher volatility (5.29%) compared to ALLW (2.84%). In terms of maximum drawdown, ALLW dropped -8.78% vs AGOX's -26.93%.

Which ETF is better, ALLW or AGOX?

On 1-year performance, ALLW leads with 17.15% vs 15.99% for AGOX. On fees, ALLW is cheaper at 0.85% per year. On volatility, ALLW has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ALLW or AGOX?

Over the 1-year period, ALLW has performed better with a 17.15% return vs 15.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ALLW or AGOX?

ALLW is cheaper with a 0.85% expense ratio, compared with 1.33% for AGOX.

Which ETF pays a higher dividend yield, ALLW or AGOX?

ALLW has the higher dividend yield at 4.40%, compared with 2.77% for AGOX.

What is the main difference between ALLW and AGOX?

They also come from different issuers: State Street and Adaptive. Their fees differ too: 0.85% for ALLW and 1.33% for AGOX.

Which has better risk-adjusted returns?

ALLW currently has the higher Sharpe Ratio (1.55 vs 0.84), 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.