AOR vs. IEI
AOR (iShares Core 60/40 Balanced Allocation ETF) and IEI (iShares 3-7 Year Treasury Bond ETF) are both exchange-traded funds - AOR is a Diversified Portfolio fund tracking the S&P Target Risk Growth Index, while IEI is a Government Bonds fund tracking the ICE U.S. Treasury 3-7 Year Bond Index. Both are passively managed. Over the past 10 years, AOR returned 8.14%/yr vs 1.25%/yr for IEI. At a correlation of -0.07, they often move in opposite directions. Both charge a 0.15% expense ratio.
Performance
AOR vs. IEI - Performance Comparison
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Returns By Period
In the year-to-date period, AOR achieves a 5.53% return, which is significantly higher than IEI's -0.71% return. Over the past 10 years, AOR has outperformed IEI with an annualized return of 8.14%, while IEI has yielded a comparatively lower 1.25% annualized return.
AOR
- 1D
- -1.97%
- 1M
- -0.16%
- YTD
- 5.53%
- 6M
- 5.95%
- 1Y
- 16.76%
- 3Y*
- 13.35%
- 5Y*
- 6.57%
- 10Y*
- 8.14%
IEI
- 1D
- -0.38%
- 1M
- -0.66%
- YTD
- -0.71%
- 6M
- -0.46%
- 1Y
- 3.31%
- 3Y*
- 3.42%
- 5Y*
- 0.17%
- 10Y*
- 1.25%
AOR vs. IEI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AOR iShares Core 60/40 Balanced Allocation ETF | 5.53% | 16.44% | 10.68% | 15.75% | -15.64% | 11.19% | 11.42% | 18.91% | -5.82% | 15.80% |
IEI iShares 3-7 Year Treasury Bond ETF | -0.71% | 6.96% | 1.81% | 4.42% | -9.51% | -2.54% | 6.95% | 5.71% | 1.36% | 1.22% |
Correlation
The correlation between AOR and IEI is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2008 | -0.07 |
The correlation between AOR and IEI shifts across timeframes, from -0.07 (all time) to 0.36 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AOR vs. IEI — Risk / Return Rank
AOR
IEI
AOR vs. IEI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core 60/40 Balanced Allocation ETF (AOR) and iShares 3-7 Year Treasury Bond ETF (IEI). 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 | IEI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.06 | ||
| Sortino ratioReturn per unit of downside risk | +1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.16 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 1.13 | +1.46 |
| Martin ratioReturn relative to average drawdown | 11.27 | 3.32 | +7.96 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AOR | IEI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.99 | 0.93 | +1.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | 0.04 | +0.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.76 | 0.32 | +0.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.69 | -0.01 |
Drawdowns
AOR vs. IEI - Drawdown Comparison
The maximum AOR drawdown since its inception was -24.44%, which is greater than IEI's maximum drawdown of -14.60%. Use the drawdown chart below to compare losses from any high point for AOR and IEI.
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Drawdown Indicators
| AOR | IEI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.44% | -14.60% | -9.84% |
Max Drawdown (1Y)Largest decline over 1 year | -6.64% | -2.50% | -4.14% |
Max Drawdown (3Y)Largest decline over 3 years | -9.77% | -3.66% | -6.11% |
Max Drawdown (5Y)Largest decline over 5 years | -21.72% | -13.88% | -7.84% |
Max Drawdown (10Y)Largest decline over 10 years | -22.95% | -14.60% | -8.35% |
Current DrawdownCurrent decline from peak | -2.25% | -2.14% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -2.67% | -0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.52% | 0.85% | +0.67% |
Volatility
AOR vs. IEI - Volatility Comparison
iShares Core 60/40 Balanced Allocation ETF (AOR) has a higher volatility of 3.12% compared to iShares 3-7 Year Treasury Bond ETF (IEI) at 0.92%. This indicates that AOR's price experiences larger fluctuations and is considered to be riskier than IEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AOR | IEI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.12% | 0.92% | +2.20% |
Volatility (6M)Calculated over the trailing 6-month period | 7.11% | 2.16% | +4.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.66% | 3.03% | +5.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.58% | 4.77% | +5.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.69% | 3.93% | +6.76% |
AOR vs. IEI - Expense Ratio Comparison
Both AOR and IEI have an expense ratio of 0.15%, 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. IEI - Dividend Comparison
AOR's dividend yield for the trailing twelve months is around 2.51%, less than IEI's 3.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AOR iShares Core 60/40 Balanced Allocation ETF | 2.51% | 2.55% | 2.66% | 2.50% | 2.12% | 1.64% | 1.89% | 2.56% | 2.49% | 4.51% | 2.16% | 2.12% |
IEI iShares 3-7 Year Treasury Bond ETF | 3.65% | 3.48% | 3.18% | 2.36% | 1.37% | 0.73% | 1.12% | 2.01% | 1.95% | 1.51% | 1.33% | 1.39% |
Frequently Asked Questions
AOR and IEI have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AOR has higher volatility (3.12%) compared to IEI (0.92%). In terms of maximum drawdown, AOR dropped -24.44% vs IEI's -14.60%.
On 10-year performance, AOR leads with 8.14% vs 1.25% for IEI. Both ETFs have the same 0.15% expense ratio. On volatility, IEI has been the lower-risk option at 0.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, AOR has performed better with a 8.14% return vs 1.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AOR and IEI have the same expense ratio: 0.15% per year.
IEI has the higher dividend yield at 3.65%, compared with 2.51% for AOR.
AOR is categorized as Diversified Portfolio, while IEI is Government Bonds. AOR tracks S&P Target Risk Growth Index, while IEI tracks ICE U.S. Treasury 3-7 Year Bond Index.
AOR currently has the higher Sharpe Ratio (1.99 vs 0.93), 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.
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