AOM vs. FEBAX

Last updated Jun 9, 2026

AOM (iShares Core Moderate Allocation ETF) and FEBAX (First Eagle Global Income Builder Fund Class A) are both funds - AOM is a Diversified Portfolio fund tracking the S&P Target Risk Moderate, while FEBAX is a Global Allocation fund actively managed by First Eagle. AOM is passively managed, while FEBAX is actively managed. Over the past 10 years, AOM returned 6.19%/yr vs 8.31%/yr for FEBAX. A 0.77 correlation means they provide meaningful diversification when combined. AOM charges 0.25%/yr vs 1.17%/yr for FEBAX.

Performance

AOM vs. FEBAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core Moderate Allocation ETF (AOM) and First Eagle Global Income Builder Fund Class A (FEBAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AOM achieves a 4.18% return, which is significantly lower than FEBAX's 6.72% return. Over the past 10 years, AOM has underperformed FEBAX with an annualized return of 6.19%, while FEBAX has yielded a comparatively higher 8.31% annualized return.

AOM

• 1D: 0.41%
• 1M: -0.28%
• YTD: 4.18%
• 6M: 4.84%
• 1Y: 13.33%
• 3Y*: 10.66%
• 5Y*: 4.61%
• 10Y*: 6.19%

FEBAX

• 1D: -1.48%
• 1M: -2.01%
• YTD: 6.72%
• 6M: 9.01%
• 1Y: 18.63%
• 3Y*: 14.66%
• 5Y*: 8.77%
• 10Y*: 8.31%

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

AOM vs. FEBAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AOM iShares Core Moderate Allocation ETF	4.18%	13.28%	7.95%	12.38%	-14.54%	6.93%	10.02%	15.58%	-3.88%	11.63%
FEBAX First Eagle Global Income Builder Fund Class A	6.72%	26.23%	8.12%	7.85%	-3.55%	11.39%	4.74%	14.92%	-6.50%	12.96%

Correlation

The correlation between AOM and FEBAX is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since May 2, 2012	0.77

The correlation between AOM and FEBAX shifts across timeframes, from 0.66 (1 year) to 0.77 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AOM vs. FEBAX — Risk / Return Rank

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

AOM

AOM Risk / Return Rank: 66
AOM Sharpe Ratio Rank: 67
AOM Sortino Ratio Rank: 69
AOM Omega Ratio Rank: 69
AOM Calmar Ratio Rank: 58
AOM Martin Ratio Rank: 68

FEBAX

FEBAX Risk / Return Rank: 58
FEBAX Sharpe Ratio Rank: 72
FEBAX Sortino Ratio Rank: 68
FEBAX Omega Ratio Rank: 72
FEBAX Calmar Ratio Rank: 42
FEBAX Martin Ratio Rank: 37

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. FEBAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Moderate Allocation ETF (AOM) and First Eagle Global Income Builder Fund Class A (FEBAX). 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	FEBAX	Difference
Sharpe ratio: Return per unit of total volatility	2.00	2.18	-0.19
Sortino ratio: Return per unit of downside risk	2.84	2.96	-0.12
Omega ratio: Gain probability vs. loss probability	1.37	1.41	-0.04
Calmar ratio: Return relative to maximum drawdown	2.62	2.17	+0.45
Martin ratio: Return relative to average drawdown	11.37	7.18	+4.19
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. FEBAX - Sharpe Ratio Comparison

The current AOM Sharpe Ratio is 2.00, which is comparable to the FEBAX Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of AOM and FEBAX, 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	FEBAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.00	2.18	-0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.98	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.90	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.86	-0.17

Drawdowns

AOM vs. FEBAX - Drawdown Comparison

The maximum AOM drawdown since its inception was -19.96%, smaller than the maximum FEBAX drawdown of -23.04%. Use the drawdown chart below to compare losses from any high point for AOM and FEBAX.

Drawdown Indicators

	AOM	FEBAX	Difference
Max Drawdown Largest peak-to-trough decline	-19.96%	-23.04%	+3.08%
Max Drawdown (1Y) Largest decline over 1 year	-5.11%	-8.65%	+3.54%
Max Drawdown (3Y) Largest decline over 3 years	-6.85%	-8.65%	+1.80%
Max Drawdown (5Y) Largest decline over 5 years	-19.96%	-15.85%	-4.11%
Max Drawdown (10Y) Largest decline over 10 years	-19.96%	-23.04%	+3.08%
Current Drawdown Current decline from peak	-1.24%	-4.87%	+3.63%
Average Drawdown Average peak-to-trough decline	-2.70%	-2.94%	+0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.18%	2.61%	-1.43%

Volatility

AOM vs. FEBAX - Volatility Comparison

iShares Core Moderate Allocation ETF (AOM) has a higher volatility of 2.40% compared to First Eagle Global Income Builder Fund Class A (FEBAX) at 2.23%. This indicates that AOM's price experiences larger fluctuations and is considered to be riskier than FEBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AOM	FEBAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.40%	2.23%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	5.42%	7.38%	-1.96%
Volatility (1Y) Calculated over the trailing 1-year period	6.72%	8.61%	-1.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.17%	8.99%	-0.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.95%	9.25%	-1.30%

AOM vs. FEBAX - Expense Ratio Comparison

AOM has a 0.25% expense ratio, which is lower than FEBAX's 1.17% expense ratio.

Dividends

AOM vs. FEBAX - Dividend Comparison

AOM's dividend yield for the trailing twelve months is around 3.01%, less than FEBAX's 3.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOM iShares Core Moderate Allocation ETF	3.01%	2.98%	3.10%	2.79%	2.27%	1.56%	2.02%	2.66%	2.53%	3.31%	2.14%	1.98%
FEBAX First Eagle Global Income Builder Fund Class A	3.90%	4.14%	5.39%	2.80%	3.03%	7.61%	3.07%	2.49%	2.40%	2.51%	3.13%	3.38%

Frequently Asked Questions

Can I hold both AOM and FEBAX in my portfolio?

AOM and FEBAX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AOM or FEBAX?

AOM has higher volatility (2.40%) compared to FEBAX (2.23%). In terms of maximum drawdown, AOM dropped -19.96% vs FEBAX's -23.04%.

Which has better risk-adjusted returns?

FEBAX currently has the higher Sharpe Ratio (2.18 vs 2.00), 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.