AOM vs. SHYL

Last updated Jun 4, 2026

AOM (iShares Core Moderate Allocation ETF) and SHYL (Xtrackers Short Duration High Yield Bond ETF) are both exchange-traded funds - AOM is a Diversified Portfolio fund tracking the S&P Target Risk Moderate, while SHYL is a High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market 0-5 Year Index. Both are passively managed. Over the past 5 years, AOM returned 4.80%/yr vs 4.87%/yr for SHYL. A 0.76 correlation means they provide meaningful diversification when combined. AOM charges 0.25%/yr vs 0.20%/yr for SHYL.

Performance

AOM vs. SHYL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core Moderate Allocation ETF (AOM) and Xtrackers Short Duration High Yield Bond ETF (SHYL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AOM achieves a 5.00% return, which is significantly higher than SHYL's 1.15% return.

AOM

• 1D: -0.46%
• 1M: 2.13%
• YTD: 5.00%
• 6M: 5.31%
• 1Y: 14.51%
• 3Y*: 10.87%
• 5Y*: 4.80%
• 10Y*: 6.22%

SHYL

• 1D: -0.20%
• 1M: 0.16%
• YTD: 1.15%
• 6M: 1.57%
• 1Y: 6.04%
• 3Y*: 8.28%
• 5Y*: 4.87%
• 10Y*: —

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

AOM vs. SHYL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
AOM iShares Core Moderate Allocation ETF	5.00%	13.28%	7.95%	12.38%	-14.54%	6.93%	10.02%	15.58%	-4.71%
SHYL Xtrackers Short Duration High Yield Bond ETF	1.15%	7.78%	8.52%	11.39%	-5.21%	4.60%	3.64%	10.16%	-0.67%

Correlation

The correlation between AOM and SHYL is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jan 11, 2018	0.76

The correlation between AOM and SHYL has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.

Return for Risk

AOM vs. SHYL — Risk / Return Rank

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

AOM

AOM Risk / Return Rank: 65
AOM Sharpe Ratio Rank: 66
AOM Sortino Ratio Rank: 69
AOM Omega Ratio Rank: 67
AOM Calmar Ratio Rank: 57
AOM Martin Ratio Rank: 67

SHYL

SHYL Risk / Return Rank: 66
SHYL Sharpe Ratio Rank: 55
SHYL Sortino Ratio Rank: 61
SHYL Omega Ratio Rank: 62
SHYL Calmar Ratio Rank: 76
SHYL Martin Ratio Rank: 77

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. SHYL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Moderate Allocation ETF (AOM) and Xtrackers Short Duration High Yield Bond ETF (SHYL). 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	SHYL	Difference
Sharpe ratio Return per unit of total volatility	2.23	1.90	+0.33
Sortino ratio Return per unit of downside risk	3.22	2.89	+0.34
Omega ratio Gain probability vs. loss probability	1.42	1.38	+0.03
Calmar ratio Return relative to maximum drawdown	2.85	3.81	-0.96
Martin ratio Return relative to average drawdown	12.45	15.01	-2.56
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. SHYL - Sharpe Ratio Comparison

The current AOM Sharpe Ratio is 2.23, which is comparable to the SHYL Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of AOM and SHYL, 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	SHYL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.23	1.90	+0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.84	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.72	-0.03

Drawdowns

AOM vs. SHYL - Drawdown Comparison

The maximum AOM drawdown since its inception was -19.96%, roughly equal to the maximum SHYL drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for AOM and SHYL.

Drawdown Indicators

	AOM	SHYL	Difference
Max Drawdown Largest peak-to-trough decline	-19.96%	-19.26%	-0.70%
Max Drawdown (1Y) Largest decline over 1 year	-5.11%	-1.59%	-3.52%
Max Drawdown (3Y) Largest decline over 3 years	-6.85%	-4.73%	-2.12%
Max Drawdown (5Y) Largest decline over 5 years	-19.96%	-9.60%	-10.36%
Max Drawdown (10Y) Largest decline over 10 years	-19.96%	—	—
Current Drawdown Current decline from peak	-0.46%	-0.23%	-0.23%
Average Drawdown Average peak-to-trough decline	-2.70%	-1.54%	-1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	0.40%	+0.77%

Volatility

AOM vs. SHYL - Volatility Comparison

iShares Core Moderate Allocation ETF (AOM) has a higher volatility of 2.17% compared to Xtrackers Short Duration High Yield Bond ETF (SHYL) at 0.85%. This indicates that AOM's price experiences larger fluctuations and is considered to be riskier than SHYL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AOM	SHYL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.17%	0.85%	+1.32%
Volatility (6M) Calculated over the trailing 6-month period	5.22%	2.45%	+2.77%
Volatility (1Y) Calculated over the trailing 1-year period	6.55%	3.20%	+3.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.14%	5.84%	+2.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.93%	6.69%	+1.24%

AOM vs. SHYL - Expense Ratio Comparison

AOM has a 0.25% expense ratio, which is higher than SHYL's 0.20% 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

AOM vs. SHYL - Dividend Comparison

AOM's dividend yield for the trailing twelve months is around 2.98%, less than SHYL's 6.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOM iShares Core Moderate Allocation ETF	2.98%	2.98%	3.10%	2.79%	2.27%	1.56%	2.02%	2.66%	2.53%	3.31%	2.14%	1.98%
SHYL Xtrackers Short Duration High Yield Bond ETF	6.94%	7.02%	7.26%	6.60%	5.52%	4.65%	6.16%	5.93%	5.54%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AOM and SHYL in my portfolio?

AOM and SHYL have a correlation of 0.75, 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 SHYL?

AOM has higher volatility (2.17%) compared to SHYL (0.85%). In terms of maximum drawdown, AOM dropped -19.96% vs SHYL's -19.26%.

Which ETF is better, AOM or SHYL?

On 5-year performance, SHYL leads with 4.87% vs 4.80% for AOM. On fees, SHYL is cheaper at 0.20% per year. On volatility, SHYL has been the lower-risk option at 0.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AOM or SHYL?

Over the 5-year period, SHYL has performed better with a 4.87% return vs 4.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AOM or SHYL?

SHYL is cheaper with a 0.20% expense ratio, compared with 0.25% for AOM.

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

SHYL has the higher dividend yield at 6.94%, compared with 2.98% for AOM.

What is the main difference between AOM and SHYL?

AOM is categorized as Diversified Portfolio, while SHYL is High Yield Bonds. AOM tracks S&P Target Risk Moderate, while SHYL tracks Solactive USD High Yield Corporates Total Market 0-5 Year Index. They also come from different issuers: iShares and Deutsche Bank. Their fees differ too: 0.25% for AOM and 0.20% for SHYL.

Which has better risk-adjusted returns?

AOM currently has the higher Sharpe Ratio (2.23 vs 1.90), 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.