AOA vs. CGBL
AOA (iShares Core 80/20 Aggressive Allocation ETF) and CGBL (Capital Group Core Balanced ETF) are both exchange-traded funds - AOA is a Diversified Portfolio fund tracking the S&P Target Risk Aggressive Index, while CGBL is a Allocation--50% to 70% Equity fund actively managed by Capital Group. AOA is passively managed, while CGBL is actively managed. Over the past year, AOA returned 20.66% vs 16.28% for CGBL. Their correlation of 0.93 suggests significant overlap in exposure. AOA charges 0.15%/yr vs 0.33%/yr for CGBL.
Performance
AOA vs. CGBL - Performance Comparison
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Returns By Period
In the year-to-date period, AOA achieves a 8.51% return, which is significantly higher than CGBL's 7.02% return.
AOA
- 1D
- 0.33%
- 1M
- -0.91%
- YTD
- 8.51%
- 6M
- 7.69%
- 1Y
- 20.66%
- 3Y*
- 16.81%
- 5Y*
- 8.77%
- 10Y*
- 10.92%
CGBL
- 1D
- 0.24%
- 1M
- 0.51%
- YTD
- 7.02%
- 6M
- 6.23%
- 1Y
- 16.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AOA vs. CGBL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AOA iShares Core 80/20 Aggressive Allocation ETF | 8.51% | 19.59% | 13.55% | 10.58% |
CGBL Capital Group Core Balanced ETF | 7.02% | 15.33% | 16.64% | 10.10% |
Correlation
The correlation between AOA and CGBL is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2023 | 0.93 |
The correlation between AOA and CGBL has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
AOA vs. CGBL — Risk / Return Rank
AOA
CGBL
AOA vs. CGBL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core 80/20 Aggressive Allocation ETF (AOA) and Capital Group Core Balanced ETF (CGBL). 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.
| AOA | CGBL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.29 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 2.08 | +0.45 |
| Martin ratioReturn relative to average drawdown | 10.94 | 9.01 | +1.93 |
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Drawdowns
AOA vs. CGBL - Drawdown Comparison
The maximum AOA drawdown since its inception was -28.38%, which is greater than CGBL's maximum drawdown of -11.66%. Use the drawdown chart below to compare losses from any high point for AOA and CGBL.
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Drawdown Indicators
| AOA | CGBL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.38% | -11.66% | -16.72% |
Max Drawdown (1Y)Largest decline over 1 year | -8.20% | -7.88% | -0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -12.94% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.62% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.38% | — | — |
Current DrawdownCurrent decline from peak | -1.78% | -1.02% | -0.76% |
Average DrawdownAverage peak-to-trough decline | -4.04% | -1.29% | -2.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 1.81% | +0.08% |
Volatility
AOA vs. CGBL - Volatility Comparison
iShares Core 80/20 Aggressive Allocation ETF (AOA) has a higher volatility of 4.31% compared to Capital Group Core Balanced ETF (CGBL) at 4.08%. This indicates that AOA's price experiences larger fluctuations and is considered to be riskier than CGBL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AOA | CGBL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.31% | 4.08% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 9.32% | 8.51% | +0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.18% | 10.19% | +0.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.08% | 11.15% | +1.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.51% | 11.15% | +2.36% |
AOA vs. CGBL - Expense Ratio Comparison
AOA has a 0.15% expense ratio, which is lower than CGBL's 0.33% expense ratio.
Dividends
AOA vs. CGBL - Dividend Comparison
AOA's dividend yield for the trailing twelve months is around 2.07%, more than CGBL's 1.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AOA iShares Core 80/20 Aggressive Allocation ETF | 2.07% | 2.18% | 2.30% | 2.22% | 2.10% | 1.67% | 1.71% | 2.50% | 2.37% | 5.09% | 2.26% | 2.15% |
CGBL Capital Group Core Balanced ETF | 1.86% | 1.98% | 1.92% | 0.48% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, AOA and CGBL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
AOA has higher volatility (4.31%) compared to CGBL (4.08%). In terms of maximum drawdown, AOA dropped -28.38% vs CGBL's -11.66%.
On 1-year performance, AOA leads with 20.66% vs 16.28% for CGBL. On fees, AOA is cheaper at 0.15% per year. On volatility, CGBL has been the lower-risk option at 4.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AOA has performed better with a 20.66% return vs 16.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AOA is cheaper with a 0.15% expense ratio, compared with 0.33% for CGBL.
AOA has the higher dividend yield at 2.07%, compared with 1.86% for CGBL.
AOA is categorized as Diversified Portfolio, while CGBL is Allocation--50% to 70% Equity. They also come from different issuers: iShares and Capital Group. Their fees differ too: 0.15% for AOA and 0.33% for CGBL.
AOA currently has the higher Sharpe Ratio (1.86 vs 1.61), 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.
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