AOA vs. GAA
Compare and contrast key facts about iShares Core Aggressive Allocation ETF (AOA) and Cambria Global Asset Allocation ETF (GAA).
AOA and GAA 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. GAA is an actively managed fund by Cambria. It was launched on Dec 9, 2014.
Performance
AOA vs. GAA - Performance Comparison
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AOA vs. GAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AOA iShares Core Aggressive Allocation ETF | -0.73% | 19.59% | 13.55% | 18.27% | -16.23% | 15.42% | 12.82% | 22.60% | -7.86% | 20.05% |
GAA Cambria Global Asset Allocation ETF | 4.88% | 18.76% | 6.67% | 7.65% | -8.47% | 11.17% | 9.11% | 15.12% | -7.15% | 15.11% |
Returns By Period
In the year-to-date period, AOA achieves a -0.73% return, which is significantly lower than GAA's 4.88% return. Over the past 10 years, AOA has outperformed GAA with an annualized return of 9.71%, while GAA has yielded a comparatively lower 7.48% annualized return.
AOA
- 1D
- -0.14%
- 1M
- -2.63%
- YTD
- -0.73%
- 6M
- 1.53%
- 1Y
- 18.01%
- 3Y*
- 14.24%
- 5Y*
- 7.94%
- 10Y*
- 9.71%
GAA
- 1D
- 0.05%
- 1M
- -0.30%
- YTD
- 4.88%
- 6M
- 8.62%
- 1Y
- 19.97%
- 3Y*
- 12.03%
- 5Y*
- 6.48%
- 10Y*
- 7.48%
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AOA vs. GAA - Expense Ratio Comparison
AOA has a 0.25% expense ratio, which is lower than GAA's 0.41% expense ratio.
Return for Risk
AOA vs. GAA — Risk / Return Rank
AOA
GAA
AOA vs. GAA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Aggressive Allocation ETF (AOA) and Cambria Global Asset Allocation ETF (GAA). 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.
| AOA | GAA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.30 | 1.95 | -0.64 |
Sortino ratioReturn per unit of downside risk | 1.90 | 2.60 | -0.70 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.37 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.93 | 2.91 | -0.99 |
Martin ratioReturn relative to average drawdown | 8.48 | 11.78 | -3.30 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AOA | GAA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 1.95 | -0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | 0.58 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.72 | 0.68 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.61 | +0.05 |
Correlation
The correlation between AOA and GAA is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
AOA vs. GAA - Dividend Comparison
AOA's dividend yield for the trailing twelve months is around 2.26%, less than GAA's 3.74% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AOA iShares Core Aggressive Allocation ETF | 2.26% | 2.18% | 2.30% | 2.22% | 2.10% | 1.67% | 1.71% | 2.50% | 2.37% | 5.09% | 2.26% | 2.15% |
GAA Cambria Global Asset Allocation ETF | 3.74% | 4.24% | 3.88% | 3.73% | 6.05% | 4.21% | 2.73% | 3.32% | 3.01% | 2.36% | 2.82% | 2.49% |
Drawdowns
AOA vs. GAA - Drawdown Comparison
The maximum AOA drawdown since its inception was -28.38%, which is greater than GAA's maximum drawdown of -26.57%. Use the drawdown chart below to compare losses from any high point for AOA and GAA.
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Drawdown Indicators
| AOA | GAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.38% | -26.57% | -1.81% |
Max Drawdown (1Y)Largest decline over 1 year | -8.20% | -5.78% | -2.42% |
Max Drawdown (5Y)Largest decline over 5 years | -23.62% | -18.47% | -5.15% |
Max Drawdown (10Y)Largest decline over 10 years | -28.38% | -26.57% | -1.81% |
Current DrawdownCurrent decline from peak | -5.31% | -3.35% | -1.96% |
Average DrawdownAverage peak-to-trough decline | -4.08% | -3.90% | -0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 1.77% | +0.41% |
Volatility
AOA vs. GAA - Volatility Comparison
iShares Core Aggressive Allocation ETF (AOA) has a higher volatility of 5.20% compared to Cambria Global Asset Allocation ETF (GAA) at 3.74%. This indicates that AOA's price experiences larger fluctuations and is considered to be riskier than GAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AOA | GAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.20% | 3.74% | +1.46% |
Volatility (6M)Calculated over the trailing 6-month period | 8.33% | 7.20% | +1.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.87% | 10.33% | +3.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.91% | 11.27% | +1.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.51% | 11.04% | +2.47% |