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AOA vs. AOK
Performance
Return for Risk
Dividends
Drawdowns
Volatility

AOA vs. AOK

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Core Aggressive Allocation ETF (AOA) and iShares Core Conservative Allocation ETF (AOK).

AOA and AOK are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AOA is a passively managed fund by iShares that tracks the performance of the S&P Target Risk Aggressive Index. It was launched on Nov 4, 2008. AOK is a passively managed fund by iShares that tracks the performance of the S&P Target Risk Conservative Index. It was launched on Nov 4, 2008. Both AOA and AOK are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

AOA vs. AOK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core Aggressive Allocation ETF (AOA) and iShares Core Conservative Allocation ETF (AOK). The values are adjusted to include any dividend payments, if applicable.

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AOA vs. AOK - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
AOA
iShares Core Aggressive Allocation ETF		-0.59%19.59%13.55%18.27%-16.23%15.42%12.82%22.60%-7.86%20.05%
AOK
iShares Core Conservative Allocation ETF		0.12%11.26%6.58%10.85%-14.16%4.87%9.33%13.90%-3.09%9.70%

Returns By Period

In the year-to-date period, AOA achieves a -0.59% return, which is significantly lower than AOK's 0.12% return. Over the past 10 years, AOA has outperformed AOK with an annualized return of 9.69%, while AOK has yielded a comparatively lower 4.88% annualized return.

AOA

1D
0.61%
1M
-4.11%
YTD
-0.59%
6M
1.92%
1Y
18.69%
3Y*
14.47%
5Y*
7.97%
10Y*
9.69%

AOK

1D
0.30%
1M
-2.35%
YTD
0.12%
6M
1.18%
1Y
9.60%
3Y*
8.05%
5Y*
3.38%
10Y*
4.88%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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iShares Core Aggressive Allocation ETF

iShares Core Conservative Allocation ETF

Often compared with AOA:
AOA vs. AORAOA vs. VOOAOA vs. VASGXAOA vs. SPYAOA vs. AOMAOA vs. VSMGXAOA vs. SCHD
Often compared with AOK:
AOK vs. AOMAOK vs. SGOVAOK vs. AGGAOK vs. VOOAOK vs. VTAOK vs. EAOMAOK vs. VTI

AOA vs. AOK - Expense Ratio Comparison

Both AOA and AOK have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

AOA
iShares Core Aggressive Allocation ETF
AOK
iShares Core Conservative Allocation ETF

Return for Risk

AOA vs. AOK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AOA
AOA Risk / Return Rank: 7575
Overall Rank
AOA Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
AOA Sortino Ratio Rank: 7676
Sortino Ratio Rank
AOA Omega Ratio Rank: 7575
Omega Ratio Rank
AOA Calmar Ratio Rank: 7474
Calmar Ratio Rank
AOA Martin Ratio Rank: 7979
Martin Ratio Rank
AOK
AOK Risk / Return Rank: 7676
Overall Rank
AOK Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
AOK Sortino Ratio Rank: 7575
Sortino Ratio Rank
AOK Omega Ratio Rank: 7474
Omega Ratio Rank
AOK Calmar Ratio Rank: 7979
Calmar Ratio Rank
AOK Martin Ratio Rank: 7777
Martin Ratio Rank
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.

AOA vs. AOK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Aggressive Allocation ETF (AOA) and iShares Core Conservative Allocation ETF (AOK). 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.

AOAAOKDifference

Sharpe ratio

Return per unit of total volatility

1.35

1.42

-0.06

Sortino ratio

Return per unit of downside risk

1.97

1.97

-0.01

Omega ratio

Gain probability vs. loss probability

1.29

1.29

0.00

Calmar ratio

Return relative to maximum drawdown

1.98

2.22

-0.24

Martin ratio

Return relative to average drawdown

8.82

8.55

+0.27

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AOA vs. AOK - Sharpe Ratio Comparison

The current AOA Sharpe Ratio is 1.35, which is comparable to the AOK Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of AOA and AOK, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

AOAAOKDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.35

1.42

-0.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.62

0.48

+0.14

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.72

0.73

-0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.65

0.69

-0.03

Correlation

The correlation between AOA and AOK is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

AOA vs. AOK - Dividend Comparison

AOA's dividend yield for the trailing twelve months is around 2.19%, less than AOK's 3.34% yield.

TTM20252024202320222021202020192018201720162015
AOA
iShares Core Aggressive Allocation ETF		2.19%2.18%2.30%2.22%2.10%1.67%1.71%2.50%2.37%5.09%2.26%2.15%
AOK
iShares Core Conservative Allocation ETF		3.34%3.28%3.23%2.93%2.25%1.55%2.10%2.71%2.68%2.91%2.14%2.02%

Drawdowns

AOA vs. AOK - Drawdown Comparison

The maximum AOA drawdown since its inception was -28.38%, which is greater than AOK's maximum drawdown of -18.94%. Use the drawdown chart below to compare losses from any high point for AOA and AOK.

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Drawdown Indicators

AOAAOKDifference

Max Drawdown

Largest peak-to-trough decline

-28.38%

-18.94%

-9.44%

Max Drawdown (1Y)

Largest decline over 1 year

-9.62%

-4.50%

-5.12%

Max Drawdown (5Y)

Largest decline over 5 years

-23.62%

-18.94%

-4.68%

Max Drawdown (10Y)

Largest decline over 10 years

-28.38%

-18.94%

-9.44%

Current Drawdown

Current decline from peak

-5.18%

-2.89%

-2.29%

Average Drawdown

Average peak-to-trough decline

-4.08%

-2.38%

-1.70%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.16%

1.17%

+0.99%

Volatility

AOA vs. AOK - Volatility Comparison

iShares Core Aggressive Allocation ETF (AOA) has a higher volatility of 5.28% compared to iShares Core Conservative Allocation ETF (AOK) at 2.87%. This indicates that AOA's price experiences larger fluctuations and is considered to be riskier than AOK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AOAAOKDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.28%

2.87%

+2.41%

Volatility (6M)

Calculated over the trailing 6-month period

8.34%

4.25%

+4.09%

Volatility (1Y)

Calculated over the trailing 1-year period

13.87%

6.80%

+7.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.92%

7.05%

+5.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.51%

6.68%

+6.83%