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BMAX.TO vs. AOA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BMAX.TO vs. AOA

Last updated Jun 4, 2026

BMAX.TO (Brompton Enhanced Multi-Asset Income ETF) and AOA (iShares Core 80/20 Aggressive Allocation ETF) are both Diversified Portfolio funds. Over the past 3 years, BMAX.TO returned 18.63%/yr vs 18.89%/yr for AOA. A 0.68 correlation means they provide meaningful diversification when combined. BMAX.TO charges 2.62%/yr vs 0.15%/yr for AOA.

Performance

BMAX.TO vs. AOA - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Brompton Enhanced Multi-Asset Income ETF (BMAX.TO) and iShares Core 80/20 Aggressive Allocation ETF (AOA). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

BMAX.TO is traded in CAD, while AOA is traded in USD. To make them comparable, the AOA values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, BMAX.TO achieves a 9.27% return, which is significantly lower than AOA's 11.33% return.

BMAX.TO

1D
-0.03%
1M
4.64%
YTD
9.27%
6M
9.79%
1Y
22.18%
3Y*
18.63%
5Y*
—
10Y*
—

AOA

1D
-0.09%
1M
6.22%
YTD
11.33%
6M
10.21%
1Y
25.90%
3Y*
18.89%
5Y*
12.27%
10Y*
11.36%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BMAX.TO vs. AOA - Yearly Performance Comparison

2026 (YTD)2025202420232022
BMAX.TO
Brompton Enhanced Multi-Asset Income ETF		9.27%17.88%19.42%11.56%6.10%
AOA
iShares Core 80/20 Aggressive Allocation ETF		11.33%14.10%23.31%15.66%6.08%

Correlation

The correlation between BMAX.TO and AOA is 0.73, 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

0.73

Correlation (3Y)
Calculated over the trailing 3-year period

0.69

Correlation (All Time)
Calculated using the full available price history since Oct 21, 2022

0.68

The correlation between BMAX.TO and AOA has been stable across timeframes, ranging from 0.68 to 0.73 - a consistent structural relationship.

BMAX.TO vs. AOA - Sectors Allocation Comparison

Sectors
BMAX.TO
AOA

Financial Services

24.1%
16.1%

Technology

18.8%
27.4%

Healthcare

17.0%
8.0%

Industrials

13.0%
12.0%

Energy

7.0%
4.3%

Consumer Defensive

4.9%
5.0%

Utilities

4.4%
2.7%

Communication Services

4.3%
8.3%

Basic Materials

2.6%
4.2%

Consumer Cyclical

2.6%
9.5%

Real Estate

1.3%
2.4%

Financial Services

BMAX.TO
24.1%
AOA
16.1%

Technology

BMAX.TO
18.8%
AOA
27.4%

Healthcare

BMAX.TO
17.0%
AOA
8.0%

Industrials

BMAX.TO
13.0%
AOA
12.0%

Energy

BMAX.TO
7.0%
AOA
4.3%

Consumer Defensive

BMAX.TO
4.9%
AOA
5.0%

Utilities

BMAX.TO
4.4%
AOA
2.7%

Communication Services

BMAX.TO
4.3%
AOA
8.3%

Basic Materials

BMAX.TO
2.6%
AOA
4.2%

Consumer Cyclical

BMAX.TO
2.6%
AOA
9.5%

Real Estate

BMAX.TO
1.3%
AOA
2.4%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Brompton Enhanced Multi-Asset Income ETF

iShares Core 80/20 Aggressive Allocation ETF

Often compared with BMAX.TO:
BMAX.TO vs. HDIV.TOBMAX.TO vs. UTES.TOBMAX.TO vs. ZWQT.TOBMAX.TO vs. CLSA.TOBMAX.TO vs. BANK.TOBMAX.TO vs. HUTE.TOBMAX.TO vs. HDIF.TO
Often compared with AOA:
AOA vs. AORAOA vs. VOOAOA vs. VASGXAOA vs. AOKAOA vs. SPYAOA vs. AOMAOA vs. VSMGX

Return for Risk

BMAX.TO vs. AOA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BMAX.TO
BMAX.TO Risk / Return Rank: 5959
Overall Rank
BMAX.TO Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
BMAX.TO Sortino Ratio Rank: 6363
Sortino Ratio Rank
BMAX.TO Omega Ratio Rank: 6262
Omega Ratio Rank
BMAX.TO Calmar Ratio Rank: 4848
Calmar Ratio Rank
BMAX.TO Martin Ratio Rank: 5959
Martin Ratio Rank
AOA
AOA Risk / Return Rank: 6767
Overall Rank
AOA Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
AOA Sortino Ratio Rank: 6969
Sortino Ratio Rank
AOA Omega Ratio Rank: 6969
Omega Ratio Rank
AOA Calmar Ratio Rank: 5959
Calmar Ratio Rank
AOA Martin Ratio Rank: 7070
Martin Ratio Rank
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.

BMAX.TO vs. AOA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brompton Enhanced Multi-Asset Income ETF (BMAX.TO) 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.

BMAX.TOAOADifference
Sharpe ratioReturn per unit of total volatility
2.10
2.53

-0.43

Sortino ratioReturn per unit of downside risk
3.01
3.55

-0.55

Omega ratioGain probability vs. loss probability

1.38

1.50

-0.11

Calmar ratioReturn relative to maximum drawdown

2.38

3.77

-1.39

Martin ratioReturn relative to average drawdown

10.46

15.44

-4.98

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BMAX.TO vs. AOA - Sharpe Ratio Comparison

The current BMAX.TO Sharpe Ratio is 2.10, which is comparable to the AOA Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of BMAX.TO and AOA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

BMAX.TOAOADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.10

2.53

-0.43

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

1.14

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.99

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.38

1.08

+0.30

Drawdowns

BMAX.TO vs. AOA - Drawdown Comparison

The maximum BMAX.TO drawdown since its inception was -15.42%, smaller than the maximum AOA drawdown of -22.22%. Use the drawdown chart below to compare losses from any high point for BMAX.TO and AOA.

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Drawdown Indicators

BMAX.TOAOADifference

Max Drawdown

Largest peak-to-trough decline

-15.42%

-22.22%

+6.80%

Max Drawdown (1Y)

Largest decline over 1 year

-9.35%

-6.89%

-2.46%

Max Drawdown (3Y)

Largest decline over 3 years

-15.42%

-13.06%

-2.36%

Max Drawdown (5Y)

Largest decline over 5 years

—

-18.58%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-22.22%

—

Current Drawdown

Current decline from peak

-0.96%

-0.09%

-0.87%

Average Drawdown

Average peak-to-trough decline

-1.90%

-2.84%

+0.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.13%

1.68%

+0.45%

Volatility

BMAX.TO vs. AOA - Volatility Comparison

Brompton Enhanced Multi-Asset Income ETF (BMAX.TO) and iShares Core 80/20 Aggressive Allocation ETF (AOA) have volatilities of 3.27% and 3.16%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BMAX.TOAOADifference

Volatility (1M)

Calculated over the trailing 1-month period

3.27%

3.16%

+0.11%

Volatility (6M)

Calculated over the trailing 6-month period

8.81%

8.26%

+0.55%

Volatility (1Y)

Calculated over the trailing 1-year period

10.62%

10.30%

+0.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.13%

10.83%

+2.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.13%

11.52%

+1.61%

BMAX.TO vs. AOA - Expense Ratio Comparison

BMAX.TO has a 2.62% expense ratio, which is higher than AOA's 0.15% expense ratio.

Dividends

BMAX.TO vs. AOA - Dividend Comparison

BMAX.TO's dividend yield for the trailing twelve months is around 9.59%, more than AOA's 2.04% yield.

PositionTTM20252024202320222021202020192018201720162015
AOA
iShares Core 80/20 Aggressive Allocation ETF		2.04%2.18%2.30%2.22%2.10%1.67%1.71%2.50%2.37%5.09%2.26%2.15%
BMAX.TO
Brompton Enhanced Multi-Asset Income ETF		9.59%9.70%9.64%9.55%2.41%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

BMAX.TO and AOA have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, AOA is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

AOA is cheaper with a 0.15% expense ratio, compared with 2.62% for BMAX.TO.

They also come from different issuers: Brompton Funds and iShares. Their fees differ too: 2.62% for BMAX.TO and 0.15% for AOA.

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