AOM vs. AOK

Last updated Jun 3, 2026

AOM (iShares Core Moderate Allocation ETF) and AOK (iShares Core Conservative Allocation ETF) are both Diversified Portfolio funds from iShares - AOM tracks the S&P Target Risk Moderate while AOK tracks the S&P Target Risk Conservative Index. Both are passively managed. Over the past 10 years, AOM returned 6.27%/yr vs 5.17%/yr for AOK. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.

Performance

AOM vs. AOK - Performance Comparison

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

Returns By Period

In the year-to-date period, AOM achieves a 5.49% return, which is significantly higher than AOK's 4.50% return. Over the past 10 years, AOM has outperformed AOK with an annualized return of 6.27%, while AOK has yielded a comparatively lower 5.17% annualized return.

AOM

• 1D: 0.22%
• 1M: 2.21%
• YTD: 5.49%
• 6M: 6.11%
• 1Y: 15.19%
• 3Y*: 11.04%
• 5Y*: 5.00%
• 10Y*: 6.27%

AOK

• 1D: -0.02%
• 1M: 1.57%
• YTD: 4.50%
• 6M: 4.55%
• 1Y: 12.48%
• 3Y*: 9.36%
• 5Y*: 3.87%
• 10Y*: 5.17%

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

AOM vs. AOK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AOM iShares Core Moderate Allocation ETF	5.49%	13.28%	7.95%	12.38%	-14.54%	6.93%	10.02%	15.58%	-3.88%	11.63%
AOK iShares Core Conservative Allocation ETF	4.50%	11.26%	6.58%	10.85%	-14.16%	4.87%	9.33%	13.90%	-3.09%	9.70%

Correlation

The correlation between AOM and AOK 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	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Nov 12, 2008	0.83

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

AOM vs. AOK - Sectors Allocation Comparison

Sectors	AOM	AOK
Technology	27.9%	13.0%
Financial Services	16.1%	6.0%
Industrials	11.9%	3.6%
Consumer Cyclical	9.5%	3.2%
Communication Services	8.1%	3.4%
Healthcare	8.0%	3.0%
Consumer Defensive	5.0%	1.7%
Energy	4.3%	1.5%
Basic Materials	4.2%	1.1%
Utilities	2.7%	0.9%
Real Estate	2.4%	0.5%

Return for Risk

AOM vs. AOK — Risk / Return Rank

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

AOM

AOM Risk / Return Rank: 69
AOM Sharpe Ratio Rank: 70
AOM Sortino Ratio Rank: 74
AOM Omega Ratio Rank: 73
AOM Calmar Ratio Rank: 59
AOM Martin Ratio Rank: 69

AOK

AOK Risk / Return Rank: 64
AOK Sharpe Ratio Rank: 65
AOK Sortino Ratio Rank: 67
AOK Omega Ratio Rank: 70
AOK Calmar Ratio Rank: 55
AOK Martin Ratio Rank: 65

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.

AOM vs. AOK - Risk-Adjusted Trends Comparison

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

	AOM	AOK	Difference
Sharpe ratio Return per unit of total volatility	2.34	2.18	+0.16
Sortino ratio Return per unit of downside risk	3.38	3.12	+0.27
Omega ratio Gain probability vs. loss probability	1.44	1.42	+0.02
Calmar ratio Return relative to maximum drawdown	2.99	2.78	+0.21
Martin ratio Return relative to average drawdown	13.07	11.86	+1.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AOM vs. AOK - Sharpe Ratio Comparison

The current AOM Sharpe Ratio is 2.34, which is comparable to the AOK Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of AOM and AOK, 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

	AOM	AOK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	2.18	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.55	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.77	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.72	-0.02

Drawdowns

AOM vs. AOK - Drawdown Comparison

The maximum AOM drawdown since its inception was -19.96%, which is greater than AOK's maximum drawdown of -18.94%. Use the drawdown chart below to compare losses from any high point for AOM and AOK.

Drawdown Indicators

	AOM	AOK	Difference
Max Drawdown Largest peak-to-trough decline	-19.96%	-18.94%	-1.02%
Max Drawdown (1Y) Largest decline over 1 year	-5.11%	-4.50%	-0.61%
Max Drawdown (3Y) Largest decline over 3 years	-6.85%	-6.37%	-0.48%
Max Drawdown (5Y) Largest decline over 5 years	-19.96%	-18.94%	-1.02%
Max Drawdown (10Y) Largest decline over 10 years	-19.96%	-18.94%	-1.02%
Current Drawdown Current decline from peak	0.00%	-0.02%	+0.02%
Average Drawdown Average peak-to-trough decline	-2.70%	-2.37%	-0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	1.05%	+0.12%

Volatility

AOM vs. AOK - Volatility Comparison

iShares Core Moderate Allocation ETF (AOM) has a higher volatility of 2.15% compared to iShares Core Conservative Allocation ETF (AOK) at 1.95%. This indicates that AOM's price experiences larger fluctuations and is considered to be riskier than AOK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AOM	AOK	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.15%	1.95%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	5.21%	4.50%	+0.71%
Volatility (1Y) Calculated over the trailing 1-year period	6.53%	5.75%	+0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.14%	7.10%	+1.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.93%	6.71%	+1.22%

AOM vs. AOK - Expense Ratio Comparison

Both AOM and AOK 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

AOM vs. AOK - Dividend Comparison

AOM's dividend yield for the trailing twelve months is around 2.97%, less than AOK's 3.28% 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%
AOM iShares Core Moderate Allocation ETF	2.97%	2.98%	3.10%	2.79%	2.27%	1.56%	2.02%	2.66%	2.53%	3.31%	2.14%	1.98%

Frequently Asked Questions

Can I hold both AOM and AOK in my portfolio?

With a correlation of 0.93, AOM and AOK 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, AOM or AOK?

AOM has higher volatility (2.15%) compared to AOK (1.95%). In terms of maximum drawdown, AOM dropped -19.96% vs AOK's -18.94%.

Which ETF is better, AOM or AOK?

On 10-year performance, AOM leads with 6.27% vs 5.17% for AOK. Both ETFs have the same 0.25% expense ratio. On volatility, AOK has been the lower-risk option at 1.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AOM or AOK?

Over the 10-year period, AOM has performed better with a 6.27% return vs 5.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AOM or AOK?

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

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

AOK has the higher dividend yield at 3.28%, compared with 2.97% for AOM.

What is the main difference between AOM and AOK?

AOM tracks S&P Target Risk Moderate, while AOK tracks S&P Target Risk Conservative Index.

Which has better risk-adjusted returns?

AOM currently has the higher Sharpe Ratio (2.34 vs 2.18), 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.