AOR vs. VTWAX
AOR (iShares Core 60/40 Balanced Allocation ETF) and VTWAX (Vanguard Total World Stock Index Fund Admiral Shares) are both funds - AOR is a Diversified Portfolio fund tracking the S&P Target Risk Growth Index, while VTWAX is a Global Equities fund tracking the FTSE Global All Cap Index. Both are passively managed. Over the past 5 years, AOR returned 6.78%/yr vs 10.51%/yr for VTWAX. With a 0.96 correlation, they move nearly in lockstep. AOR charges 0.15%/yr vs 0.09%/yr for VTWAX.
Performance
AOR vs. VTWAX - Performance Comparison
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Returns By Period
In the year-to-date period, AOR achieves a 6.83% return, which is significantly lower than VTWAX's 10.38% return.
AOR
- 1D
- 0.26%
- 1M
- 1.45%
- YTD
- 6.83%
- 6M
- 7.42%
- 1Y
- 18.25%
- 3Y*
- 13.55%
- 5Y*
- 6.78%
- 10Y*
- 8.52%
VTWAX
- 1D
- 2.34%
- 1M
- 1.21%
- YTD
- 10.38%
- 6M
- 11.15%
- 1Y
- 26.61%
- 3Y*
- 19.75%
- 5Y*
- 10.51%
- 10Y*
- —
AOR vs. VTWAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
AOR iShares Core 60/40 Balanced Allocation ETF | 6.83% | 16.44% | 10.68% | 15.75% | -15.64% | 11.19% | 11.42% | 12.95% |
VTWAX Vanguard Total World Stock Index Fund Admiral Shares | 10.38% | 22.43% | 16.43% | 21.85% | -18.02% | 18.17% | 16.67% | 17.53% |
Correlation
The correlation between AOR and VTWAX is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2019 | 0.96 |
The correlation between AOR and VTWAX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
AOR vs. VTWAX — Risk / Return Rank
AOR
VTWAX
AOR vs. VTWAX - 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 Total World Stock Index Fund Admiral Shares (VTWAX). 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 | VTWAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.36 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 2.66 | -0.08 |
| Martin ratioReturn relative to average drawdown | 11.10 | 11.61 | -0.51 |
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Drawdowns
AOR vs. VTWAX - Drawdown Comparison
The maximum AOR drawdown since its inception was -24.44%, smaller than the maximum VTWAX drawdown of -34.20%. Use the drawdown chart below to compare losses from any high point for AOR and VTWAX.
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Drawdown Indicators
| AOR | VTWAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.44% | -34.20% | +9.76% |
Max Drawdown (1Y)Largest decline over 1 year | -6.64% | -9.64% | +3.00% |
Max Drawdown (3Y)Largest decline over 3 years | -9.77% | -16.43% | +6.66% |
Max Drawdown (5Y)Largest decline over 5 years | -21.72% | -26.40% | +4.68% |
Max Drawdown (10Y)Largest decline over 10 years | -22.95% | — | — |
Current DrawdownCurrent decline from peak | -1.05% | -2.45% | +1.40% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -5.29% | +1.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.55% | 2.21% | -0.66% |
Volatility
AOR vs. VTWAX - Volatility Comparison
The current volatility for iShares Core 60/40 Balanced Allocation ETF (AOR) is 3.50%, while Vanguard Total World Stock Index Fund Admiral Shares (VTWAX) has a volatility of 5.19%. This indicates that AOR experiences smaller price fluctuations and is considered to be less risky than VTWAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AOR | VTWAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.50% | 5.19% | -1.69% |
Volatility (6M)Calculated over the trailing 6-month period | 7.32% | 10.71% | -3.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.85% | 13.07% | -4.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.61% | 15.82% | -5.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.70% | 18.23% | -7.53% |
AOR vs. VTWAX - Expense Ratio Comparison
AOR has a 0.15% expense ratio, which is higher than VTWAX's 0.09% 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. VTWAX - Dividend Comparison
AOR's dividend yield for the trailing twelve months is around 2.48%, more than VTWAX's 1.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AOR iShares Core 60/40 Balanced Allocation ETF | 2.48% | 2.55% | 2.66% | 2.50% | 2.12% | 1.64% | 1.89% | 2.56% | 2.49% | 4.51% | 2.16% | 2.12% |
VTWAX Vanguard Total World Stock Index Fund Admiral Shares | 1.59% | 1.80% | 1.92% | 2.06% | 2.17% | 1.79% | 1.64% | 2.28% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, AOR and VTWAX 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.
VTWAX has higher volatility (5.19%) compared to AOR (3.50%). In terms of maximum drawdown, AOR dropped -24.44% vs VTWAX's -34.20%.
VTWAX currently has the higher Sharpe Ratio (1.97 vs 1.94), 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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