EAOA vs. MDIV
EAOA (iShares ESG Aware Aggressive Allocation ETF) and MDIV (First Trust Multi-Asset Diversified Income Index Fund) are both Diversified Portfolio funds - EAOA tracks the BlackRock ESG Aware Aggressive Allocation Index while MDIV tracks the NASDAQ US Multi-Asset Diversified Income Index. Both are passively managed. Over the past 5 years, EAOA returned 8.38%/yr vs 6.77%/yr for MDIV. A 0.62 correlation means they provide meaningful diversification when combined. EAOA charges 0.18%/yr vs 0.73%/yr for MDIV.
Performance
EAOA vs. MDIV - Performance Comparison
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Returns By Period
In the year-to-date period, EAOA achieves a 9.46% return, which is significantly lower than MDIV's 11.80% return.
EAOA
- 1D
- -0.65%
- 1M
- -0.51%
- 6M
- 7.25%
- YTD
- 9.46%
- 1Y
- 19.65%
- 3Y*
- 15.43%
- 5Y*
- 8.38%
- 10Y*
- —
MDIV
- 1D
- 1.01%
- 1M
- 3.14%
- 6M
- 9.06%
- YTD
- 11.80%
- 1Y
- 13.71%
- 3Y*
- 11.66%
- 5Y*
- 6.77%
- 10Y*
- 4.84%
EAOA vs. MDIV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
EAOA iShares ESG Aware Aggressive Allocation ETF | 9.46% | 18.41% | 13.79% | 18.27% | -17.76% | 14.52% | 19.79% |
MDIV First Trust Multi-Asset Diversified Income Index Fund | 11.80% | 3.77% | 10.05% | 11.50% | -3.86% | 16.51% | 7.58% |
Correlation
The correlation between EAOA and MDIV 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 | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2020 | 0.62 |
Over the past year, the correlation between EAOA and MDIV has dropped to 0.35 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.
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Return for Risk
EAOA vs. MDIV — Risk / Return Rank
EAOA
MDIV
EAOA vs. MDIV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware Aggressive Allocation ETF (EAOA) and First Trust Multi-Asset Diversified Income Index Fund (MDIV). 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.
| EAOA | MDIV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.37 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.42 | 4.06 | -1.65 |
| Martin ratioReturn relative to average drawdown | 10.34 | 11.26 | -0.93 |
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Drawdowns
EAOA vs. MDIV - Drawdown Comparison
The maximum EAOA drawdown since its inception was -25.06%, smaller than the maximum MDIV drawdown of -48.50%. Use the drawdown chart below to compare losses from any high point for EAOA and MDIV.
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Drawdown Indicators
| EAOA | MDIV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.06% | -48.50% | +23.44% |
Max Drawdown (1Y)Largest decline over 1 year | -8.17% | -3.39% | -4.78% |
Max Drawdown (3Y)Largest decline over 3 years | -13.84% | -9.62% | -4.22% |
Max Drawdown (5Y)Largest decline over 5 years | -25.06% | -13.02% | -12.04% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.50% | — |
Current DrawdownCurrent decline from peak | -1.14% | 0.00% | -1.14% |
Average DrawdownAverage peak-to-trough decline | -5.23% | -4.55% | -0.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | 1.22% | +0.68% |
Volatility
EAOA vs. MDIV - Volatility Comparison
iShares ESG Aware Aggressive Allocation ETF (EAOA) has a higher volatility of 3.18% compared to First Trust Multi-Asset Diversified Income Index Fund (MDIV) at 1.93%. This indicates that EAOA's price experiences larger fluctuations and is considered to be riskier than MDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EAOA | MDIV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.18% | 1.93% | +1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 9.65% | 4.54% | +5.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.49% | 6.61% | +4.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.38% | 10.92% | +2.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.16% | 15.20% | -2.04% |
EAOA vs. MDIV - Expense Ratio Comparison
EAOA has a 0.18% expense ratio, which is lower than MDIV's 0.73% expense ratio.
Dividends
EAOA vs. MDIV - Dividend Comparison
EAOA's dividend yield for the trailing twelve months is around 1.99%, less than MDIV's 6.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EAOA iShares ESG Aware Aggressive Allocation ETF | 1.99% | 2.10% | 2.09% | 2.21% | 1.93% | 1.48% | 1.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MDIV First Trust Multi-Asset Diversified Income Index Fund | 6.59% | 6.51% | 6.40% | 6.08% | 6.71% | 5.30% | 6.00% | 5.90% | 6.76% | 6.04% | 6.35% | 7.38% |
Frequently Asked Questions
EAOA and MDIV 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.
EAOA has higher volatility (3.18%) compared to MDIV (1.93%). In terms of maximum drawdown, EAOA dropped -25.06% vs MDIV's -48.50%.
On 5-year performance, EAOA leads with 8.38% vs 6.77% for MDIV. On fees, EAOA is cheaper at 0.18% per year. On volatility, MDIV has been the lower-risk option at 1.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EAOA has performed better with a 8.38% return vs 6.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EAOA is cheaper with a 0.18% expense ratio, compared with 0.73% for MDIV.
MDIV has the higher dividend yield at 6.59%, compared with 1.99% for EAOA.
EAOA tracks BlackRock ESG Aware Aggressive Allocation Index, while MDIV tracks NASDAQ US Multi-Asset Diversified Income Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.18% for EAOA and 0.73% for MDIV.
MDIV currently has the higher Sharpe Ratio (2.08 vs 1.72), 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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