AOA vs. UPAR
Compare and contrast key facts about iShares Core Aggressive Allocation ETF (AOA) and UPAR Ultra Risk Parity ETF (UPAR).
AOA and UPAR 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. UPAR is a passively managed fund by RPAR that tracks the performance of the NONE. It was launched on Jan 3, 2022. Both AOA and UPAR 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. UPAR - Performance Comparison
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AOA vs. UPAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AOA iShares Core Aggressive Allocation ETF | -0.73% | 19.59% | 13.55% | 18.27% | -16.60% |
UPAR UPAR Ultra Risk Parity ETF | 5.88% | 23.87% | -2.26% | 5.73% | -30.30% |
Returns By Period
In the year-to-date period, AOA achieves a -0.73% return, which is significantly lower than UPAR's 5.88% 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%
UPAR
- 1D
- 0.15%
- 1M
- -4.55%
- YTD
- 5.88%
- 6M
- 8.68%
- 1Y
- 21.28%
- 3Y*
- 7.70%
- 5Y*
- —
- 10Y*
- —
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AOA vs. UPAR - Expense Ratio Comparison
AOA has a 0.25% expense ratio, which is lower than UPAR's 0.65% expense ratio.
Return for Risk
AOA vs. UPAR — Risk / Return Rank
AOA
UPAR
AOA vs. UPAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Aggressive Allocation ETF (AOA) and UPAR Ultra Risk Parity ETF (UPAR). 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 | UPAR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.30 | 1.35 | -0.05 |
Sortino ratioReturn per unit of downside risk | 1.90 | 1.82 | +0.08 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.26 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.93 | 1.90 | +0.02 |
Martin ratioReturn relative to average drawdown | 8.48 | 6.65 | +1.83 |
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 | UPAR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 1.35 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.72 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | -0.07 | +0.73 |
Correlation
The correlation between AOA and UPAR is 0.63, 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. UPAR - Dividend Comparison
AOA's dividend yield for the trailing twelve months is around 2.26%, less than UPAR's 2.73% 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% |
UPAR UPAR Ultra Risk Parity ETF | 2.73% | 3.28% | 3.32% | 3.04% | 4.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
AOA vs. UPAR - Drawdown Comparison
The maximum AOA drawdown since its inception was -28.38%, smaller than the maximum UPAR drawdown of -39.00%. Use the drawdown chart below to compare losses from any high point for AOA and UPAR.
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Drawdown Indicators
| AOA | UPAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.38% | -39.00% | +10.62% |
Max Drawdown (1Y)Largest decline over 1 year | -8.20% | -11.13% | +2.93% |
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 | -5.31% | -7.57% | +2.26% |
Average DrawdownAverage peak-to-trough decline | -4.08% | -22.46% | +18.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 3.21% | -1.03% |
Volatility
AOA vs. UPAR - Volatility Comparison
The current volatility for iShares Core Aggressive Allocation ETF (AOA) is 5.20%, while UPAR Ultra Risk Parity ETF (UPAR) has a volatility of 6.40%. This indicates that AOA experiences smaller price fluctuations and is considered to be less risky than UPAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AOA | UPAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.20% | 6.40% | -1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 8.33% | 10.57% | -2.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.87% | 15.83% | -1.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.91% | 18.15% | -5.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.51% | 18.15% | -4.64% |