ARCM vs. AOA
ARCM (Arrow Reserve Capital Management ETF) and AOA (iShares Core 80/20 Aggressive Allocation ETF) are both exchange-traded funds - ARCM is a Ultrashort Bond fund actively managed by Arrow Funds, while AOA is a Diversified Portfolio fund tracking the S&P Target Risk Aggressive Index. ARCM is actively managed, while AOA is passively managed. Over the past 5 years, ARCM returned 3.19%/yr vs 8.78%/yr for AOA. At a 0.05 correlation, their price movements are largely independent. ARCM charges 0.50%/yr vs 0.15%/yr for AOA.
Performance
ARCM vs. AOA - Performance Comparison
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Returns By Period
In the year-to-date period, ARCM achieves a 1.47% return, which is significantly lower than AOA's 8.19% return.
ARCM
- 1D
- -0.02%
- 1M
- 0.25%
- YTD
- 1.47%
- 6M
- 1.60%
- 1Y
- 3.60%
- 3Y*
- 4.66%
- 5Y*
- 3.19%
- 10Y*
- —
AOA
- 1D
- -1.54%
- 1M
- -0.18%
- YTD
- 8.19%
- 6M
- 7.63%
- 1Y
- 21.66%
- 3Y*
- 16.66%
- 5Y*
- 8.78%
- 10Y*
- 10.74%
ARCM vs. AOA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ARCM Arrow Reserve Capital Management ETF | 1.47% | 4.11% | 5.24% | 4.72% | 0.69% | -0.26% | 0.95% | 2.70% | 1.33% | 1.17% |
AOA iShares Core 80/20 Aggressive Allocation ETF | 8.19% | 19.59% | 13.55% | 18.27% | -16.23% | 15.42% | 12.82% | 22.60% | -7.86% | 13.33% |
Correlation
The correlation between ARCM and AOA is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2017 | 0.05 |
Over the past year, ARCM and AOA have become more correlated (0.35) than their long-term average of 0.05, meaning their price movements have been converging.
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Return for Risk
ARCM vs. AOA — Risk / Return Rank
ARCM
AOA
ARCM vs. AOA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Arrow Reserve Capital Management ETF (ARCM) and iShares Core 80/20 Aggressive Allocation ETF (AOA). 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.
| ARCM | AOA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +6.18 | ||
| Sortino ratioReturn per unit of downside risk | +14.10 | ||
| Omega ratioGain probability vs. loss probability | 4.22 | 1.36 | +2.86 |
| Calmar ratioReturn relative to maximum drawdown | 28.99 | 2.65 | +26.33 |
| Martin ratioReturn relative to average drawdown | 229.47 | 11.52 | +217.95 |
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Drawdowns
ARCM vs. AOA - Drawdown Comparison
The maximum ARCM drawdown since its inception was -4.08%, smaller than the maximum AOA drawdown of -28.38%. Use the drawdown chart below to compare losses from any high point for ARCM and AOA.
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Drawdown Indicators
| ARCM | AOA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.08% | -28.38% | +24.30% |
Max Drawdown (1Y)Largest decline over 1 year | -0.12% | -8.20% | +8.08% |
Max Drawdown (3Y)Largest decline over 3 years | -3.46% | -12.94% | +9.48% |
Max Drawdown (5Y)Largest decline over 5 years | -3.46% | -23.62% | +20.16% |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.38% | — |
Current DrawdownCurrent decline from peak | -0.04% | -2.08% | +2.04% |
Average DrawdownAverage peak-to-trough decline | -0.72% | -4.04% | +3.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 1.88% | -1.86% |
Volatility
ARCM vs. AOA - Volatility Comparison
The current volatility for Arrow Reserve Capital Management ETF (ARCM) is 0.11%, while iShares Core 80/20 Aggressive Allocation ETF (AOA) has a volatility of 4.43%. This indicates that ARCM experiences smaller price fluctuations and is considered to be less risky than AOA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARCM | AOA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.11% | 4.43% | -4.32% |
Volatility (6M)Calculated over the trailing 6-month period | 0.30% | 9.34% | -9.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.45% | 11.25% | -10.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.02% | 13.09% | -10.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.13% | 13.51% | -10.38% |
ARCM vs. AOA - Expense Ratio Comparison
ARCM has a 0.50% expense ratio, which is higher than AOA's 0.15% expense ratio.
Dividends
ARCM vs. AOA - Dividend Comparison
ARCM's dividend yield for the trailing twelve months is around 3.73%, more than AOA's 2.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AOA iShares Core 80/20 Aggressive Allocation ETF | 2.08% | 2.18% | 2.30% | 2.22% | 2.10% | 1.67% | 1.71% | 2.50% | 2.37% | 5.09% | 2.26% | 2.15% |
ARCM Arrow Reserve Capital Management ETF | 3.73% | 4.13% | 4.87% | 4.26% | 0.90% | 0.02% | 0.84% | 2.32% | 1.91% | 0.62% | 0.00% | 0.00% |
Frequently Asked Questions
ARCM and AOA have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AOA has higher volatility (4.43%) compared to ARCM (0.11%). In terms of maximum drawdown, ARCM dropped -4.08% vs AOA's -28.38%.
On 5-year performance, AOA leads with 8.78% vs 3.19% for ARCM. On fees, AOA is cheaper at 0.15% per year. On volatility, ARCM has been the lower-risk option at 0.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, AOA has performed better with a 8.78% return vs 3.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AOA is cheaper with a 0.15% expense ratio, compared with 0.50% for ARCM.
ARCM has the higher dividend yield at 3.73%, compared with 2.08% for AOA.
ARCM is categorized as Ultrashort Bond, while AOA is Diversified Portfolio. They also come from different issuers: Arrow Funds and iShares. Their fees differ too: 0.50% for ARCM and 0.15% for AOA.
ARCM currently has the higher Sharpe Ratio (8.12 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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