AOA vs. FFNOX
AOA (iShares Core 80/20 Aggressive Allocation ETF) and FFNOX (Fidelity Multi-Asset Index Fund) are both Diversified Portfolio funds. AOA is passively managed, while FFNOX is actively managed. Over the past 10 years, AOA returned 10.24%/yr vs 10.90%/yr for FFNOX. Their 0.95 correlation means they have historically moved very closely together. AOA charges 0.15%/yr vs 0.11%/yr for FFNOX.
Performance
AOA vs. FFNOX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with AOA having a 10.08% return and FFNOX slightly lower at 10.04%. Over the past 10 years, AOA has underperformed FFNOX with an annualized return of 10.24%, while FFNOX has yielded a comparatively higher 10.90% annualized return.
AOA
- 1D
- 0.88%
- 1M
- 0.63%
- 6M
- 6.83%
- YTD
- 10.08%
- 1Y
- 20.64%
- 3Y*
- 16.44%
- 5Y*
- 8.87%
- 10Y*
- 10.24%
- ALL TIME*
- 10.49%
FFNOX
- 1D
- 0.19%
- 1M
- -0.41%
- 6M
- 6.53%
- YTD
- 10.04%
- 1Y
- 20.76%
- 3Y*
- 15.82%
- 5Y*
- 8.75%
- 10Y*
- 10.90%
- ALL TIME*
- 6.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $10.91M | $10.17M | $10.41M | |
| $0.00 | $0.00 | $0.00 |
AOA vs. FFNOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AOA iShares Core 80/20 Aggressive Allocation ETF | 10.08% | 19.59% | 13.55% | 18.27% | -16.23% | 15.42% | 12.82% | 22.60% | -7.86% | 20.05% |
FFNOX Fidelity Multi-Asset Index Fund | 10.04% | 20.18% | 13.05% | 19.29% | -18.02% | 17.05% | 16.30% | 25.09% | -6.58% | 17.09% |
Correlation
The correlation between AOA and FFNOX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (3Y) Balances recent behavior with more history. | 0.98 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.99 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Nov 11, 2008 | 0.95 |
The correlation between AOA and FFNOX has been stable across timeframes, ranging from 0.95 to 0.99 - a consistent structural relationship.
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Return for Risk
AOA vs. FFNOX — Risk / Return Rank
AOA
FFNOX
AOA vs. FFNOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core 80/20 Aggressive Allocation ETF (AOA) and Fidelity Multi-Asset Index Fund (FFNOX). 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 | FFNOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.30 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 2.31 | +0.22 |
| Martin ratioReturn relative to average drawdown | 10.66 | 9.59 | +1.07 |
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Drawdowns
AOA vs. FFNOX - Drawdown Comparison
The maximum AOA drawdown since its inception was -28.38%, smaller than the maximum FFNOX drawdown of -49.84%. Use the drawdown chart below to compare losses from any high point for AOA and FFNOX.
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Drawdown Indicators
| AOA | FFNOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.38% | -49.84% | +21.46% |
Max Drawdown (1Y)Largest decline over 1 year | -8.20% | -8.60% | +0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -12.94% | -14.10% | +1.16% |
Max Drawdown (5Y)Largest decline over 5 years | -23.62% | -26.04% | +2.42% |
Max Drawdown (10Y)Largest decline over 10 years | -28.38% | -29.93% | +1.55% |
Current DrawdownCurrent decline from peak | -0.36% | -1.38% | +1.02% |
Average DrawdownAverage peak-to-trough decline | -4.03% | -8.65% | +4.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.94% | 2.07% | -0.13% |
Volatility
AOA vs. FFNOX - Volatility Comparison
The current volatility for iShares Core 80/20 Aggressive Allocation ETF (AOA) is 3.26%, while Fidelity Multi-Asset Index Fund (FFNOX) has a volatility of 3.51%. This indicates that AOA experiences smaller price fluctuations and is considered to be less risky than FFNOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AOA | FFNOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.26% | 3.51% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 9.63% | 10.30% | -0.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.49% | 12.27% | -0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.11% | 13.92% | -0.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.51% | 14.56% | -1.05% |
AOA vs. FFNOX - Expense Ratio Comparison
AOA has a 0.15% expense ratio, which is higher than FFNOX's 0.11% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
AOA vs. FFNOX - Dividend Comparison
AOA's dividend yield for the trailing twelve months is around 2.11%, less than FFNOX's 2.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AOA iShares Core 80/20 Aggressive Allocation ETF | 2.11% | 2.18% | 2.30% | 2.22% | 2.10% | 1.67% | 1.71% | 2.50% | 2.37% | 5.09% | 2.26% | 2.15% |
FFNOX Fidelity Multi-Asset Index Fund | 2.33% | 3.68% | 6.43% | 3.18% | 7.14% | 5.71% | 2.87% | 2.96% | 2.90% | 0.64% | 2.50% | 0.70% |
Frequently Asked Questions
With a correlation of 0.98, AOA and FFNOX 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.
FFNOX has higher volatility (3.51%) compared to AOA (3.26%). In terms of maximum drawdown, AOA dropped -28.38% vs FFNOX's -49.84%.
AOA currently has the higher Sharpe Ratio (1.81 vs 1.62), 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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