AOK vs. MACAX
AOK (iShares Core Conservative Allocation ETF) and MACAX (Mutual of America Conservative Allocation Fund) are both Diversified Portfolio funds. Over the past 5 years, AOK returned 3.71%/yr vs 3.76%/yr for MACAX. A 0.77 correlation means they provide meaningful diversification when combined. AOK charges 0.25%/yr vs 0.08%/yr for MACAX.
Performance
AOK vs. MACAX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AOK achieves a 4.26% return, which is significantly lower than MACAX's 4.90% 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%
MACAX
- 1D
- 0.16%
- 1M
- 2.48%
- YTD
- 4.90%
- 6M
- 5.14%
- 1Y
- 13.17%
- 3Y*
- 9.09%
- 5Y*
- 3.76%
- 10Y*
- —
AOK vs. MACAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
AOK iShares Core Conservative Allocation ETF | 4.26% | 11.26% | 6.58% | 10.85% | -14.16% | 4.87% | 8.73% |
MACAX Mutual of America Conservative Allocation Fund | 4.90% | 11.09% | 6.84% | 8.97% | -12.93% | 5.77% | 897.64% |
Correlation
The correlation between AOK and MACAX is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2020 | 0.77 |
The correlation between AOK and MACAX has been stable across timeframes, ranging from 0.77 to 0.83 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AOK vs. MACAX — Risk / Return Rank
AOK
MACAX
AOK vs. MACAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Conservative Allocation ETF (AOK) and Mutual of America Conservative Allocation Fund (MACAX). 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 | MACAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.50 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 3.23 | -0.52 |
| Martin ratioReturn relative to average drawdown | 11.50 | 15.64 | -4.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| AOK | MACAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.11 | 2.55 | -0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.48 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.16 | +0.56 |
Drawdowns
AOK vs. MACAX - Drawdown Comparison
The maximum AOK drawdown since its inception was -18.94%, which is greater than MACAX's maximum drawdown of -17.36%. Use the drawdown chart below to compare losses from any high point for AOK and MACAX.
Loading charts...
Drawdown Indicators
| AOK | MACAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.94% | -17.36% | -1.58% |
Max Drawdown (1Y)Largest decline over 1 year | -4.50% | -4.63% | +0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -6.37% | -6.65% | +0.28% |
Max Drawdown (5Y)Largest decline over 5 years | -18.94% | -17.36% | -1.58% |
Max Drawdown (10Y)Largest decline over 10 years | -18.94% | — | — |
Current DrawdownCurrent decline from peak | -0.41% | 0.00% | -0.41% |
Average DrawdownAverage peak-to-trough decline | -2.37% | -4.29% | +1.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 0.91% | +0.15% |
Volatility
AOK vs. MACAX - Volatility Comparison
iShares Core Conservative Allocation ETF (AOK) and Mutual of America Conservative Allocation Fund (MACAX) have volatilities of 1.97% and 1.97%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AOK | MACAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.97% | 1.97% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 4.47% | 4.86% | -0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.76% | 5.86% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.10% | 8.82% | -1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.71% | 395.52% | -388.81% |
AOK vs. MACAX - Expense Ratio Comparison
AOK has a 0.25% expense ratio, which is higher than MACAX's 0.08% 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
AOK vs. MACAX - Dividend Comparison
AOK's dividend yield for the trailing twelve months is around 3.28%, less than MACAX's 6.86% 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% |
MACAX Mutual of America Conservative Allocation Fund | 6.86% | 7.19% | 4.33% | 1.83% | 7.35% | 4.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AOK and MACAX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MACAX has higher volatility (1.97%) compared to AOK (1.97%). In terms of maximum drawdown, AOK dropped -18.94% vs MACAX's -17.36%.
MACAX currently has the higher Sharpe Ratio (2.55 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.
Find the right allocation for AOK and MACAX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer