AOR vs. VEA
AOR (iShares Core 60/40 Balanced Allocation ETF) and VEA (Vanguard FTSE Developed Markets ETF) are both exchange-traded funds - AOR is a Diversified Portfolio fund tracking the S&P Target Risk Growth Index, while VEA is a Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index. Both are passively managed. Over the past 10 years, AOR returned 8.58%/yr vs 10.67%/yr for VEA. Their correlation of 0.88 suggests significant overlap in exposure. AOR charges 0.15%/yr vs 0.03%/yr for VEA.
Performance
AOR vs. VEA - Performance Comparison
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Returns By Period
In the year-to-date period, AOR achieves a 7.85% return, which is significantly lower than VEA's 16.08% return. Over the past 10 years, AOR has underperformed VEA with an annualized return of 8.58%, while VEA has yielded a comparatively higher 10.67% annualized return.
AOR
- 1D
- 0.95%
- 1M
- 2.42%
- YTD
- 7.85%
- 6M
- 8.39%
- 1Y
- 19.38%
- 3Y*
- 13.65%
- 5Y*
- 7.09%
- 10Y*
- 8.58%
VEA
- 1D
- 1.17%
- 1M
- 4.79%
- YTD
- 16.08%
- 6M
- 17.35%
- 1Y
- 32.96%
- 3Y*
- 19.14%
- 5Y*
- 9.87%
- 10Y*
- 10.67%
AOR vs. VEA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AOR iShares Core 60/40 Balanced Allocation ETF | 7.85% | 16.44% | 10.68% | 15.75% | -15.64% | 11.19% | 11.42% | 18.91% | -5.82% | 15.80% |
VEA Vanguard FTSE Developed Markets ETF | 16.08% | 35.16% | 3.15% | 17.93% | -15.34% | 11.66% | 9.71% | 22.62% | -14.75% | 26.42% |
Correlation
The correlation between AOR and VEA is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Nov 11, 2008 | 0.88 |
The correlation between AOR and VEA has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.
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Return for Risk
AOR vs. VEA — Risk / Return Rank
AOR
VEA
AOR vs. VEA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core 60/40 Balanced Allocation ETF (AOR) and Vanguard FTSE Developed Markets ETF (VEA). 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.
| AOR | VEA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.36 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 2.85 | +0.08 |
| Martin ratioReturn relative to average drawdown | 12.60 | 10.96 | +1.63 |
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Drawdowns
AOR vs. VEA - Drawdown Comparison
The maximum AOR drawdown since its inception was -24.44%, smaller than the maximum VEA drawdown of -60.68%. Use the drawdown chart below to compare losses from any high point for AOR and VEA.
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Drawdown Indicators
| AOR | VEA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.44% | -60.68% | +36.24% |
Max Drawdown (1Y)Largest decline over 1 year | -6.64% | -11.63% | +4.99% |
Max Drawdown (3Y)Largest decline over 3 years | -9.77% | -13.45% | +3.68% |
Max Drawdown (5Y)Largest decline over 5 years | -21.72% | -29.71% | +7.99% |
Max Drawdown (10Y)Largest decline over 10 years | -22.95% | -35.73% | +12.78% |
Current DrawdownCurrent decline from peak | -0.10% | 0.00% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -13.27% | +9.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 3.01% | -1.47% |
Volatility
AOR vs. VEA - Volatility Comparison
The current volatility for iShares Core 60/40 Balanced Allocation ETF (AOR) is 3.61%, while Vanguard FTSE Developed Markets ETF (VEA) has a volatility of 6.92%. This indicates that AOR experiences smaller price fluctuations and is considered to be less risky than VEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AOR | VEA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.61% | 6.92% | -3.31% |
Volatility (6M)Calculated over the trailing 6-month period | 7.37% | 14.42% | -7.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.84% | 16.58% | -7.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.63% | 16.73% | -6.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.70% | 17.41% | -6.71% |
AOR vs. VEA - Expense Ratio Comparison
AOR has a 0.15% expense ratio, which is higher than VEA's 0.03% 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
AOR vs. VEA - Dividend Comparison
AOR's dividend yield for the trailing twelve months is around 2.46%, less than VEA's 2.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AOR iShares Core 60/40 Balanced 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% |
VEA Vanguard FTSE Developed Markets ETF | 2.59% | 3.22% | 3.35% | 3.15% | 2.91% | 3.16% | 2.04% | 3.04% | 3.35% | 2.77% | 3.05% | 2.92% |
Frequently Asked Questions
With a correlation of 0.92, AOR and VEA 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.
VEA has higher volatility (6.92%) compared to AOR (3.61%). In terms of maximum drawdown, AOR dropped -24.44% vs VEA's -60.68%.
On 10-year performance, VEA leads with 10.67% vs 8.58% for AOR. On fees, VEA is cheaper at 0.03% per year. On volatility, AOR has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VEA has performed better with a 10.67% return vs 8.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VEA is cheaper with a 0.03% expense ratio, compared with 0.15% for AOR.
VEA has the higher dividend yield at 2.59%, compared with 2.46% for AOR.
AOR is categorized as Diversified Portfolio, while VEA is Foreign Large Cap Equities. AOR tracks S&P Target Risk Growth Index, while VEA tracks FTSE Developed All Cap ex US Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for AOR and 0.03% for VEA.
AOR currently has the higher Sharpe Ratio (2.21 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.
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