AOK vs. AOR

Last updated Jun 4, 2026

AOK (iShares Core Conservative Allocation ETF) and AOR (iShares Core Growth Allocation ETF) are both Diversified Portfolio funds from iShares - AOK tracks the S&P Target Risk Conservative Index while AOR tracks the S&P Target Risk Growth Index. Both are passively managed. Over the past 10 years, AOK returned 5.14%/yr vs 8.40%/yr for AOR. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.

Performance

AOK vs. AOR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core Conservative Allocation ETF (AOK) and iShares Core Growth Allocation ETF (AOR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AOK achieves a 4.26% return, which is significantly lower than AOR's 7.39% return. Over the past 10 years, AOK has underperformed AOR with an annualized return of 5.14%, while AOR has yielded a comparatively higher 8.40% annualized return.

AOK

• 1D: -0.41%
• 1M: 1.66%
• YTD: 4.26%
• 6M: 4.14%
• 1Y: 12.11%
• 3Y*: 9.28%
• 5Y*: 3.71%
• 10Y*: 5.14%

AOR

• 1D: -0.53%
• 1M: 2.99%
• YTD: 7.39%
• 6M: 7.88%
• 1Y: 19.21%
• 3Y*: 14.21%
• 5Y*: 6.94%
• 10Y*: 8.40%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AOK vs. AOR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AOK iShares Core Conservative Allocation ETF	4.26%	11.26%	6.58%	10.85%	-14.16%	4.87%	9.33%	13.90%	-3.09%	9.70%
AOR iShares Core Growth Allocation ETF	7.39%	16.44%	10.68%	15.75%	-15.64%	11.19%	11.42%	18.91%	-5.82%	15.80%

Correlation

The correlation between AOK and AOR is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Nov 12, 2008	0.83

The correlation between AOK and AOR has been stable across timeframes, ranging from 0.83 to 0.93 - a consistent structural relationship.

AOK vs. AOR - Sectors Allocation Comparison

Sectors	AOK	AOR
Technology	13.0%	27.8%
Financial Services	6.0%	16.2%
Industrials	3.6%	11.9%
Communication Services	3.4%	8.1%
Consumer Cyclical	3.2%	9.5%
Healthcare	3.0%	8.0%
Consumer Defensive	1.7%	5.0%
Energy	1.5%	4.3%
Basic Materials	1.1%	4.2%
Utilities	0.9%	2.7%
Real Estate	0.5%	2.4%

Return for Risk

AOK vs. AOR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AOK

AOK Risk / Return Rank: 61
AOK Sharpe Ratio Rank: 61
AOK Sortino Ratio Rank: 64
AOK Omega Ratio Rank: 65
AOK Calmar Ratio Rank: 54
AOK Martin Ratio Rank: 62

AOR

AOR Risk / Return Rank: 67
AOR Sharpe Ratio Rank: 68
AOR Sortino Ratio Rank: 70
AOR Omega Ratio Rank: 70
AOR Calmar Ratio Rank: 58
AOR Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AOK vs. AOR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Conservative Allocation ETF (AOK) and iShares Core Growth Allocation ETF (AOR). 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.

	AOK	AOR	Difference
Sharpe ratio: Return per unit of total volatility	2.11	2.29	-0.18
Sortino ratio: Return per unit of downside risk	3.01	3.27	-0.26
Omega ratio: Gain probability vs. loss probability	1.41	1.43	-0.02
Calmar ratio: Return relative to maximum drawdown	2.70	2.90	-0.20
Martin ratio: Return relative to average drawdown	11.50	12.69	-1.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AOK vs. AOR - Sharpe Ratio Comparison

The current AOK Sharpe Ratio is 2.11, which is comparable to the AOR Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of AOK and AOR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AOK	AOR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	2.29	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.66	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	0.79	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.69	+0.02

Drawdowns

AOK vs. AOR - Drawdown Comparison

The maximum AOK drawdown since its inception was -18.94%, smaller than the maximum AOR drawdown of -24.44%. Use the drawdown chart below to compare losses from any high point for AOK and AOR.

Drawdown Indicators

	AOK	AOR	Difference
Max Drawdown Largest peak-to-trough decline	-18.94%	-24.44%	+5.50%
Max Drawdown (1Y) Largest decline over 1 year	-4.50%	-6.64%	+2.14%
Max Drawdown (3Y) Largest decline over 3 years	-6.37%	-9.77%	+3.40%
Max Drawdown (5Y) Largest decline over 5 years	-18.94%	-21.72%	+2.78%
Max Drawdown (10Y) Largest decline over 10 years	-18.94%	-22.95%	+4.01%
Current Drawdown Current decline from peak	-0.41%	-0.53%	+0.12%
Average Drawdown Average peak-to-trough decline	-2.37%	-3.48%	+1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.06%	1.52%	-0.46%

Volatility

AOK vs. AOR - Volatility Comparison

The current volatility for iShares Core Conservative Allocation ETF (AOK) is 1.97%, while iShares Core Growth Allocation ETF (AOR) has a volatility of 2.72%. This indicates that AOK experiences smaller price fluctuations and is considered to be less risky than AOR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AOK	AOR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.97%	2.72%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	4.47%	6.81%	-2.34%
Volatility (1Y) Calculated over the trailing 1-year period	5.76%	8.42%	-2.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.10%	10.55%	-3.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.71%	10.67%	-3.96%

AOK vs. AOR - Expense Ratio Comparison

Both AOK and AOR have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

AOK vs. AOR - Dividend Comparison

AOK's dividend yield for the trailing twelve months is around 3.28%, more than AOR's 2.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOK iShares Core Conservative Allocation ETF	3.28%	3.28%	3.23%	2.93%	2.25%	1.55%	2.10%	2.71%	2.68%	2.91%	2.14%	2.02%
AOR iShares Core Growth Allocation ETF	2.47%	2.55%	2.66%	2.50%	2.12%	1.64%	1.89%	2.56%	2.49%	4.51%	2.16%	2.12%

Frequently Asked Questions

Can I hold both AOK and AOR in my portfolio?

With a correlation of 0.93, AOK and AOR 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.

Which is riskier, AOK or AOR?

AOR has higher volatility (2.72%) compared to AOK (1.97%). In terms of maximum drawdown, AOK dropped -18.94% vs AOR's -24.44%.

Which ETF is better, AOK or AOR?

On 10-year performance, AOR leads with 8.40% vs 5.14% for AOK. Both ETFs have the same 0.25% expense ratio. On volatility, AOK has been the lower-risk option at 1.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AOK or AOR?

Over the 10-year period, AOR has performed better with a 8.40% return vs 5.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AOK or AOR?

AOK and AOR have the same expense ratio: 0.25% per year.

Which ETF pays a higher dividend yield, AOK or AOR?

AOK has the higher dividend yield at 3.28%, compared with 2.47% for AOR.

What is the main difference between AOK and AOR?

AOK tracks S&P Target Risk Conservative Index, while AOR tracks S&P Target Risk Growth Index.

Which has better risk-adjusted returns?

AOR currently has the higher Sharpe Ratio (2.29 vs 2.11), 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.