AOR vs. AOM

Last updated Jun 3, 2026

AOR (iShares Core Growth Allocation ETF) and AOM (iShares Core Moderate Allocation ETF) are both Diversified Portfolio funds from iShares - AOR tracks the S&P Target Risk Growth Index while AOM tracks the S&P Target Risk Moderate. Both are passively managed. Over the past 10 years, AOR returned 8.46%/yr vs 6.27%/yr for AOM. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.

Performance

AOR vs. AOM - Performance Comparison

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

Returns By Period

In the year-to-date period, AOR achieves a 7.96% return, which is significantly higher than AOM's 5.49% return. Over the past 10 years, AOR has outperformed AOM with an annualized return of 8.46%, while AOM has yielded a comparatively lower 6.27% annualized return.

AOR

• 1D: 0.22%
• 1M: 3.07%
• YTD: 7.96%
• 6M: 8.80%
• 1Y: 20.12%
• 3Y*: 14.41%
• 5Y*: 7.20%
• 10Y*: 8.46%

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%

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

AOR vs. AOM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AOR iShares Core Growth Allocation ETF	7.96%	16.44%	10.68%	15.75%	-15.64%	11.19%	11.42%	18.91%	-5.82%	15.80%
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%

Correlation

The correlation between AOR and AOM is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Nov 12, 2008	0.88

The correlation between AOR and AOM has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.

AOR vs. AOM - Sectors Allocation Comparison

Sectors	AOR	AOM
Technology	27.8%	27.9%
Financial Services	16.2%	16.1%
Industrials	11.9%	11.9%
Consumer Cyclical	9.5%	9.5%
Communication Services	8.1%	8.1%
Healthcare	8.0%	8.0%
Consumer Defensive	5.0%	5.0%
Energy	4.3%	4.3%
Basic Materials	4.2%	4.2%
Utilities	2.7%	2.7%
Real Estate	2.4%	2.4%

Return for Risk

AOR vs. AOM — Risk / Return Rank

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

AOR

AOR Risk / Return Rank: 71
AOR Sharpe Ratio Rank: 73
AOR Sortino Ratio Rank: 75
AOR Omega Ratio Rank: 75
AOR Calmar Ratio Rank: 61
AOR Martin Ratio Rank: 71

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

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.

AOR vs. AOM - Risk-Adjusted Trends Comparison

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

	AOR	AOM	Difference
Sharpe ratio Return per unit of total volatility	2.41	2.34	+0.07
Sortino ratio Return per unit of downside risk	3.43	3.38	+0.05
Omega ratio Gain probability vs. loss probability	1.45	1.44	+0.01
Calmar ratio Return relative to maximum drawdown	3.08	2.99	+0.09
Martin ratio Return relative to average drawdown	13.48	13.07	+0.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AOR vs. AOM - Sharpe Ratio Comparison

The current AOR Sharpe Ratio is 2.41, which is comparable to the AOM Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of AOR and AOM, 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

	AOR	AOM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	2.34	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.62	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.79	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.70	-0.01

Drawdowns

AOR vs. AOM - Drawdown Comparison

The maximum AOR drawdown since its inception was -24.44%, which is greater than AOM's maximum drawdown of -19.96%. Use the drawdown chart below to compare losses from any high point for AOR and AOM.

Drawdown Indicators

	AOR	AOM	Difference
Max Drawdown Largest peak-to-trough decline	-24.44%	-19.96%	-4.48%
Max Drawdown (1Y) Largest decline over 1 year	-6.64%	-5.11%	-1.53%
Max Drawdown (3Y) Largest decline over 3 years	-9.77%	-6.85%	-2.92%
Max Drawdown (5Y) Largest decline over 5 years	-21.72%	-19.96%	-1.76%
Max Drawdown (10Y) Largest decline over 10 years	-22.95%	-19.96%	-2.99%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.48%	-2.70%	-0.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.52%	1.17%	+0.35%

Volatility

AOR vs. AOM - Volatility Comparison

iShares Core Growth Allocation ETF (AOR) has a higher volatility of 2.70% compared to iShares Core Moderate Allocation ETF (AOM) at 2.15%. This indicates that AOR's price experiences larger fluctuations and is considered to be riskier than AOM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AOR	AOM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	2.15%	+0.55%
Volatility (6M) Calculated over the trailing 6-month period	6.81%	5.21%	+1.60%
Volatility (1Y) Calculated over the trailing 1-year period	8.40%	6.53%	+1.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.55%	8.14%	+2.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.67%	7.93%	+2.74%

AOR vs. AOM - Expense Ratio Comparison

Both AOR and AOM 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

AOR vs. AOM - Dividend Comparison

AOR's dividend yield for the trailing twelve months is around 2.46%, less than AOM's 2.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
AOR iShares Core Growth Allocation ETF	2.46%	2.55%	2.66%	2.50%	2.12%	1.64%	1.89%	2.56%	2.49%	4.51%	2.16%	2.12%

Frequently Asked Questions

Can I hold both AOR and AOM in my portfolio?

With a correlation of 0.95, AOR and AOM 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, AOR or AOM?

AOR has higher volatility (2.70%) compared to AOM (2.15%). In terms of maximum drawdown, AOR dropped -24.44% vs AOM's -19.96%.

Which ETF is better, AOR or AOM?

On 10-year performance, AOR leads with 8.46% vs 6.27% for AOM. Both ETFs have the same 0.25% expense ratio. On volatility, AOM has been the lower-risk option at 2.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AOR or AOM?

Over the 10-year period, AOR has performed better with a 8.46% return vs 6.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AOR or AOM?

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

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

AOM has the higher dividend yield at 2.97%, compared with 2.46% for AOR.

What is the main difference between AOR and AOM?

AOR tracks S&P Target Risk Growth Index, while AOM tracks S&P Target Risk Moderate.

Which has better risk-adjusted returns?

AOR currently has the higher Sharpe Ratio (2.41 vs 2.34), 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.