AOTG vs. IMCG

Last updated Jun 25, 2026

AOTG (AOT Growth and Innovation ETF) and IMCG (iShares Morningstar Mid-Cap Growth ETF) are both exchange-traded funds - AOTG is a Technology Equities fund actively managed by AOT, while IMCG is a Mid Cap Growth Equities fund tracking the Morningstar US Mid Cap Broad Growth Index. AOTG is actively managed, while IMCG is passively managed. Over the past 3 years, AOTG returned 26.55%/yr vs 18.89%/yr for IMCG. Their correlation of 0.81 suggests significant overlap in exposure. AOTG charges 0.75%/yr vs 0.06%/yr for IMCG.

Performance

AOTG vs. IMCG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AOT Growth and Innovation ETF (AOTG) and iShares Morningstar Mid-Cap Growth ETF (IMCG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AOTG achieves a 10.32% return, which is significantly lower than IMCG's 21.07% return.

AOTG

• 1D: -0.48%
• 1M: 2.87%
• YTD: 10.32%
• 6M: 8.42%
• 1Y: 27.36%
• 3Y*: 26.55%
• 5Y*: —
• 10Y*: —

IMCG

• 1D: 0.43%
• 1M: 5.66%
• YTD: 21.07%
• 6M: 18.85%
• 1Y: 22.59%
• 3Y*: 18.89%
• 5Y*: 7.79%
• 10Y*: 14.87%

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

AOTG vs. IMCG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AOTG AOT Growth and Innovation ETF	10.32%	25.26%	32.20%	54.58%	-11.14%
IMCG iShares Morningstar Mid-Cap Growth ETF	21.07%	6.55%	18.14%	20.73%	2.70%

Correlation

The correlation between AOTG and IMCG is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jun 29, 2022	0.81

The correlation between AOTG and IMCG has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.

AOTG vs. IMCG - Sectors Allocation Comparison

Sectors	AOTG	IMCG
Technology	67.4%	34.9%
Communication Services	15.0%	2.4%
Financial Services	9.7%	8.6%
Consumer Cyclical	7.0%	9.1%
Industrials	0.6%	25.3%
Healthcare	0.2%	6.9%
Basic Materials	-	4.3%
Consumer Defensive	-	1.2%
Energy	-	1.7%
Real Estate	-	3.1%
Utilities	-	2.5%

Return for Risk

AOTG vs. IMCG — Risk / Return Rank

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

AOTG

AOTG Risk / Return Rank: 29
AOTG Sharpe Ratio Rank: 32
AOTG Sortino Ratio Rank: 30
AOTG Omega Ratio Rank: 31
AOTG Calmar Ratio Rank: 27
AOTG Martin Ratio Rank: 27

IMCG

IMCG Risk / Return Rank: 46
IMCG Sharpe Ratio Rank: 42
IMCG Sortino Ratio Rank: 42
IMCG Omega Ratio Rank: 40
IMCG Calmar Ratio Rank: 50
IMCG Martin Ratio Rank: 55

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.

AOTG vs. IMCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AOT Growth and Innovation ETF (AOTG) and iShares Morningstar Mid-Cap Growth ETF (IMCG). 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.

	AOTG	IMCG	Difference
Sharpe ratio: Return per unit of total volatility	1.07	1.36	-0.29
Sortino ratio: Return per unit of downside risk	1.51	1.95	-0.44
Omega ratio: Gain probability vs. loss probability	1.20	1.24	-0.04
Calmar ratio: Return relative to maximum drawdown	1.20	2.23	-1.03
Martin ratio: Return relative to average drawdown	3.39	8.50	-5.11

AOTG vs. IMCG - Sharpe Ratio Comparison

The current AOTG Sharpe Ratio is 1.07, which is comparable to the IMCG Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of AOTG and IMCG, 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

AOTG vs. IMCG - Drawdown Comparison

The maximum AOTG drawdown since its inception was -31.63%, smaller than the maximum IMCG drawdown of -58.96%. Use the drawdown chart below to compare losses from any high point for AOTG and IMCG.

Drawdown Indicators

	AOTG	IMCG	Difference
Max Drawdown Largest peak-to-trough decline	-31.63%	-58.96%	+27.33%
Max Drawdown (1Y) Largest decline over 1 year	-22.85%	-10.17%	-12.68%
Max Drawdown (3Y) Largest decline over 3 years	-27.41%	-21.92%	-5.49%
Max Drawdown (5Y) Largest decline over 5 years	—	-35.08%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.08%	—
Current Drawdown Current decline from peak	-7.69%	-1.11%	-6.58%
Average Drawdown Average peak-to-trough decline	-7.86%	-9.20%	+1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.09%	2.66%	+5.43%

Volatility

AOTG vs. IMCG - Volatility Comparison

AOT Growth and Innovation ETF (AOTG) has a higher volatility of 12.25% compared to iShares Morningstar Mid-Cap Growth ETF (IMCG) at 7.40%. This indicates that AOTG's price experiences larger fluctuations and is considered to be riskier than IMCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AOTG	IMCG	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.25%	7.40%	+4.85%
Volatility (6M) Calculated over the trailing 6-month period	21.16%	14.08%	+7.08%
Volatility (1Y) Calculated over the trailing 1-year period	25.87%	16.77%	+9.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.54%	20.37%	+9.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.54%	20.59%	+8.95%

AOTG vs. IMCG - Expense Ratio Comparison

AOTG has a 0.75% expense ratio, which is higher than IMCG's 0.06% expense ratio.

Dividends

AOTG vs. IMCG - Dividend Comparison

AOTG has not paid dividends to shareholders, while IMCG's dividend yield for the trailing twelve months is around 0.62%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOTG AOT Growth and Innovation ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IMCG iShares Morningstar Mid-Cap Growth ETF	0.62%	0.78%	0.78%	0.85%	0.91%	0.41%	0.09%	0.30%	0.35%	0.45%	0.52%	0.38%

Frequently Asked Questions

Can I hold both AOTG and IMCG in my portfolio?

AOTG and IMCG have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AOTG or IMCG?

AOTG has higher volatility (12.25%) compared to IMCG (7.40%). In terms of maximum drawdown, AOTG dropped -31.63% vs IMCG's -58.96%.

Which ETF is better, AOTG or IMCG?

On 3-year performance, AOTG leads with 26.55% vs 18.89% for IMCG. On fees, IMCG is cheaper at 0.06% per year. On volatility, IMCG has been the lower-risk option at 7.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AOTG or IMCG?

Over the 3-year period, AOTG has performed better with a 26.55% return vs 18.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AOTG or IMCG?

IMCG is cheaper with a 0.06% expense ratio, compared with 0.75% for AOTG.

Which ETF pays a higher dividend yield, AOTG or IMCG?

IMCG has the higher dividend yield at 0.62%, compared with 0.00% for AOTG.

What is the main difference between AOTG and IMCG?

AOTG is categorized as Technology Equities, while IMCG is Mid Cap Growth Equities. They also come from different issuers: AOT and iShares. Their fees differ too: 0.75% for AOTG and 0.06% for IMCG.

Which has better risk-adjusted returns?

IMCG currently has the higher Sharpe Ratio (1.36 vs 1.07), 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.