AOM vs. TCAF

Last updated Jun 13, 2026

AOM (iShares Core Moderate Allocation ETF) and TCAF (T. Rowe Price Capital Appreciation Equity ETF) are both exchange-traded funds - AOM is a Diversified Portfolio fund tracking the S&P Target Risk Moderate, while TCAF is a Large Cap Blend Equities fund actively managed by T. Rowe Price. AOM is passively managed, while TCAF is actively managed. Over the past year, AOM returned 12.80% vs 16.10% for TCAF. Their correlation of 0.80 suggests significant overlap in exposure. AOM charges 0.25%/yr vs 0.31%/yr for TCAF.

Performance

AOM vs. TCAF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core Moderate Allocation ETF (AOM) and T. Rowe Price Capital Appreciation Equity ETF (TCAF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AOM achieves a 4.75% return, which is significantly higher than TCAF's 4.37% return.

AOM

• 1D: 0.04%
• 1M: 0.49%
• YTD: 4.75%
• 6M: 5.32%
• 1Y: 12.80%
• 3Y*: 10.66%
• 5Y*: 4.66%
• 10Y*: 6.31%

TCAF

• 1D: 0.18%
• 1M: -0.77%
• YTD: 4.37%
• 6M: 5.06%
• 1Y: 16.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AOM vs. TCAF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AOM iShares Core Moderate Allocation ETF	4.75%	13.28%	7.95%	5.38%
TCAF T. Rowe Price Capital Appreciation Equity ETF	4.37%	15.45%	20.93%	9.71%

Correlation

The correlation between AOM and TCAF is 0.82, 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	0.82
Correlation (All Time) Calculated using the full available price history since Jun 15, 2023	0.80

The correlation between AOM and TCAF has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.

AOM vs. TCAF - Sectors Allocation Comparison

Sectors	AOM	TCAF
Technology	27.9%	33.7%
Financial Services	16.1%	6.0%
Industrials	11.9%	4.6%
Consumer Cyclical	9.5%	10.6%
Communication Services	8.1%	11.4%
Healthcare	8.0%	17.3%
Consumer Defensive	5.0%	3.3%
Energy	4.3%	2.6%
Basic Materials	4.2%	0.1%
Utilities	2.7%	8.6%
Real Estate	2.4%	0.1%

Return for Risk

AOM vs. TCAF — 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: 66
AOM Sortino Ratio Rank: 69
AOM Omega Ratio Rank: 68
AOM Calmar Ratio Rank: 58
AOM Martin Ratio Rank: 68

TCAF

TCAF Risk / Return Rank: 41
TCAF Sharpe Ratio Rank: 44
TCAF Sortino Ratio Rank: 42
TCAF Omega Ratio Rank: 44
TCAF Calmar Ratio Rank: 33
TCAF Martin Ratio Rank: 40

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. TCAF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Moderate Allocation ETF (AOM) and T. Rowe Price Capital Appreciation Equity ETF (TCAF). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AOM	TCAF	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.37	+0.49
Sortino ratio: Return per unit of downside risk	2.70	1.91	+0.79
Omega ratio: Gain probability vs. loss probability	1.35	1.25	+0.10
Calmar ratio: Return relative to maximum drawdown	2.52	1.43	+1.09
Martin ratio: Return relative to average drawdown	10.84	5.64	+5.20

AOM vs. TCAF - Sharpe Ratio Comparison

The current AOM Sharpe Ratio is 1.87, which is higher than the TCAF Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of AOM and TCAF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AOM vs. TCAF - Drawdown Comparison

The maximum AOM drawdown since its inception was -19.96%, which is greater than TCAF's maximum drawdown of -16.37%. Use the drawdown chart below to compare losses from any high point for AOM and TCAF.

Drawdown Indicators

	AOM	TCAF	Difference
Max Drawdown Largest peak-to-trough decline	-19.96%	-16.37%	-3.59%
Max Drawdown (1Y) Largest decline over 1 year	-5.11%	-11.33%	+6.22%
Max Drawdown (3Y) Largest decline over 3 years	-6.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.96%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-19.96%	—	—
Current Drawdown Current decline from peak	-0.70%	-2.97%	+2.27%
Average Drawdown Average peak-to-trough decline	-2.70%	-2.07%	-0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	2.86%	-1.67%

Volatility

AOM vs. TCAF - Volatility Comparison

The current volatility for iShares Core Moderate Allocation ETF (AOM) is 2.82%, while T. Rowe Price Capital Appreciation Equity ETF (TCAF) has a volatility of 3.60%. This indicates that AOM experiences smaller price fluctuations and is considered to be less risky than TCAF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AOM	TCAF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	3.60%	-0.78%
Volatility (6M) Calculated over the trailing 6-month period	5.63%	9.20%	-3.57%
Volatility (1Y) Calculated over the trailing 1-year period	6.90%	11.77%	-4.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.19%	13.98%	-5.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.96%	13.98%	-6.02%

AOM vs. TCAF - Expense Ratio Comparison

AOM has a 0.25% expense ratio, which is lower than TCAF's 0.31% expense ratio.

Dividends

AOM vs. TCAF - Dividend Comparison

AOM's dividend yield for the trailing twelve months is around 2.99%, more than TCAF's 0.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOM iShares Core Moderate Allocation ETF	2.99%	2.98%	3.10%	2.79%	2.27%	1.56%	2.02%	2.66%	2.53%	3.31%	2.14%	1.98%
TCAF T. Rowe Price Capital Appreciation Equity ETF	0.48%	0.50%	0.43%	0.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AOM and TCAF in my portfolio?

AOM and TCAF have a correlation of 0.82, 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 TCAF?

TCAF has higher volatility (3.60%) compared to AOM (2.82%). In terms of maximum drawdown, AOM dropped -19.96% vs TCAF's -16.37%.

Which ETF is better, AOM or TCAF?

On 1-year performance, TCAF leads with 16.10% vs 12.80% for AOM. On fees, AOM is cheaper at 0.25% per year. On volatility, AOM has been the lower-risk option at 2.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AOM or TCAF?

Over the 1-year period, TCAF has performed better with a 16.10% return vs 12.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AOM or TCAF?

AOM is cheaper with a 0.25% expense ratio, compared with 0.31% for TCAF.

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

AOM has the higher dividend yield at 2.99%, compared with 0.48% for TCAF.

What is the main difference between AOM and TCAF?

AOM is categorized as Diversified Portfolio, while TCAF is Large Cap Blend Equities. They also come from different issuers: iShares and T. Rowe Price. Their fees differ too: 0.25% for AOM and 0.31% for TCAF.

Which has better risk-adjusted returns?

AOM currently has the higher Sharpe Ratio (1.87 vs 1.37), 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.