AOK vs. MACAX
Compare and contrast key facts about iShares Core Conservative Allocation ETF (AOK) and Mutual of America Conservative Allocation Fund (MACAX).
AOK is a passively managed fund by iShares that tracks the performance of the S&P Target Risk Conservative Index. It was launched on Nov 4, 2008. MACAX is managed by Mutual of America. It was launched on Nov 29, 2021.
Performance
AOK vs. MACAX - Performance Comparison
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AOK vs. MACAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
AOK iShares Core Conservative Allocation ETF | -0.18% | 11.26% | 6.58% | 10.85% | -14.16% | 4.87% | 8.73% |
MACAX Mutual of America Conservative Allocation Fund | -2.45% | 11.09% | 6.84% | 8.97% | -12.93% | 5.77% | 897.64% |
Returns By Period
In the year-to-date period, AOK achieves a -0.18% return, which is significantly higher than MACAX's -2.45% return.
AOK
- 1D
- 1.14%
- 1M
- -3.14%
- YTD
- -0.18%
- 6M
- 1.18%
- 1Y
- 9.65%
- 3Y*
- 7.94%
- 5Y*
- 3.32%
- 10Y*
- 4.85%
MACAX
- 1D
- -0.60%
- 1M
- -4.55%
- YTD
- -2.45%
- 6M
- -0.79%
- 1Y
- 7.61%
- 3Y*
- 6.74%
- 5Y*
- 2.85%
- 10Y*
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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%.
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 | 1.42 | 1.23 | +0.19 |
Sortino ratioReturn per unit of downside risk | 1.98 | 1.83 | +0.15 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.25 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 2.18 | 1.12 | +1.06 |
Martin ratioReturn relative to average drawdown | 8.50 | 4.86 | +3.64 |
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
| AOK | MACAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.42 | 1.23 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.37 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.15 | +0.53 |
Correlation
The correlation between AOK and MACAX is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
AOK vs. MACAX - Dividend Comparison
AOK's dividend yield for the trailing twelve months is around 3.35%, less than MACAX's 7.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AOK iShares Core Conservative Allocation ETF | 3.35% | 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 | 7.37% | 7.19% | 4.33% | 1.83% | 7.35% | 4.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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.
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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% | -4.76% | +0.26% |
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 | -3.18% | -4.63% | +1.45% |
Average DrawdownAverage peak-to-trough decline | -2.38% | -4.41% | +2.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 1.32% | -0.17% |
Volatility
AOK vs. MACAX - Volatility Comparison
iShares Core Conservative Allocation ETF (AOK) has a higher volatility of 2.89% compared to Mutual of America Conservative Allocation Fund (MACAX) at 1.84%. This indicates that AOK's price experiences larger fluctuations and is considered to be riskier than MACAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AOK | MACAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.89% | 1.84% | +1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 4.24% | 4.15% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.80% | 7.03% | -0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.05% | 8.79% | -1.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.68% | 402.11% | -395.43% |