AOA vs. SCHD
AOA (iShares Core 80/20 Aggressive Allocation ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - AOA is a Diversified Portfolio fund tracking the S&P Target Risk Aggressive Index, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 10 years, AOA returned 10.74%/yr vs 12.72%/yr for SCHD. A 0.80 correlation means they provide meaningful diversification when combined. AOA charges 0.15%/yr vs 0.06%/yr for SCHD.
Performance
AOA vs. SCHD - Performance Comparison
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Returns By Period
In the year-to-date period, AOA achieves a 8.19% return, which is significantly lower than SCHD's 17.72% return. Over the past 10 years, AOA has underperformed SCHD with an annualized return of 10.74%, while SCHD has yielded a comparatively higher 12.72% annualized return.
AOA
- 1D
- -1.54%
- 1M
- -0.18%
- YTD
- 8.19%
- 6M
- 7.63%
- 1Y
- 21.66%
- 3Y*
- 16.66%
- 5Y*
- 8.78%
- 10Y*
- 10.74%
SCHD
- 1D
- 0.41%
- 1M
- -2.47%
- YTD
- 17.72%
- 6M
- 17.25%
- 1Y
- 24.56%
- 3Y*
- 14.60%
- 5Y*
- 8.71%
- 10Y*
- 12.72%
AOA vs. SCHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AOA iShares Core 80/20 Aggressive Allocation ETF | 8.19% | 19.59% | 13.55% | 18.27% | -16.23% | 15.42% | 12.82% | 22.60% | -7.86% | 20.05% |
SCHD Schwab U.S. Dividend Equity ETF | 17.72% | 4.34% | 11.66% | 4.54% | -3.26% | 29.87% | 15.03% | 27.29% | -5.56% | 20.85% |
Correlation
The correlation between AOA and SCHD is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011 | 0.80 |
Over the past year, the correlation between AOA and SCHD has dropped to 0.38 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.
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Return for Risk
AOA vs. SCHD — Risk / Return Rank
AOA
SCHD
AOA vs. SCHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core 80/20 Aggressive Allocation ETF (AOA) and Schwab U.S. Dividend Equity ETF (SCHD). 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 | SCHD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.40 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 5.35 | -2.69 |
| Martin ratioReturn relative to average drawdown | 11.52 | 12.94 | -1.42 |
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Drawdowns
AOA vs. SCHD - Drawdown Comparison
The maximum AOA drawdown since its inception was -28.38%, smaller than the maximum SCHD drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for AOA and SCHD.
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Drawdown Indicators
| AOA | SCHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.38% | -33.37% | +4.99% |
Max Drawdown (1Y)Largest decline over 1 year | -8.20% | -4.61% | -3.59% |
Max Drawdown (3Y)Largest decline over 3 years | -12.94% | -16.13% | +3.19% |
Max Drawdown (5Y)Largest decline over 5 years | -23.62% | -16.85% | -6.77% |
Max Drawdown (10Y)Largest decline over 10 years | -28.38% | -33.37% | +4.99% |
Current DrawdownCurrent decline from peak | -2.08% | -2.47% | +0.39% |
Average DrawdownAverage peak-to-trough decline | -4.04% | -3.31% | -0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | 1.90% | -0.02% |
Volatility
AOA vs. SCHD - Volatility Comparison
iShares Core 80/20 Aggressive Allocation ETF (AOA) has a higher volatility of 4.43% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 3.58%. This indicates that AOA's price experiences larger fluctuations and is considered to be riskier than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AOA | SCHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.43% | 3.58% | +0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 9.34% | 7.73% | +1.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.25% | 11.07% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.09% | 14.36% | -1.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.51% | 16.71% | -3.20% |
AOA vs. SCHD - Expense Ratio Comparison
AOA has a 0.15% expense ratio, which is higher than SCHD's 0.06% 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. SCHD - Dividend Comparison
AOA's dividend yield for the trailing twelve months is around 2.08%, less than SCHD's 3.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AOA iShares Core 80/20 Aggressive Allocation ETF | 2.08% | 2.18% | 2.30% | 2.22% | 2.10% | 1.67% | 1.71% | 2.50% | 2.37% | 5.09% | 2.26% | 2.15% |
SCHD Schwab U.S. Dividend Equity ETF | 3.30% | 3.82% | 3.64% | 3.49% | 3.39% | 2.78% | 3.16% | 2.98% | 3.06% | 2.63% | 2.89% | 2.97% |
Frequently Asked Questions
AOA and SCHD have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AOA has higher volatility (4.43%) compared to SCHD (3.58%). In terms of maximum drawdown, AOA dropped -28.38% vs SCHD's -33.37%.
On 10-year performance, SCHD leads with 12.72% vs 10.74% for AOA. On fees, SCHD is cheaper at 0.06% per year. On volatility, SCHD has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SCHD has performed better with a 12.72% return vs 10.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHD is cheaper with a 0.06% expense ratio, compared with 0.15% for AOA.
SCHD has the higher dividend yield at 3.30%, compared with 2.08% for AOA.
AOA is categorized as Diversified Portfolio, while SCHD is Dividend. AOA tracks S&P Target Risk Aggressive Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.15% for AOA and 0.06% for SCHD.
SCHD currently has the higher Sharpe Ratio (2.23 vs 1.94), 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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