EAOK vs. SPY

Last updated Jun 4, 2026

EAOK (iShares ESG Aware Conservative Allocation ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - EAOK is a Diversified Portfolio fund tracking the BlackRock ESG Aware Conservative Allocation Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, EAOK returned 3.20%/yr vs 13.83%/yr for SPY. A 0.77 correlation means they provide meaningful diversification when combined. EAOK charges 0.18%/yr vs 0.09%/yr for SPY.

Performance

EAOK vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares ESG Aware Conservative Allocation ETF (EAOK) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EAOK achieves a 3.85% return, which is significantly lower than SPY's 10.91% return.

EAOK

• 1D: -0.39%
• 1M: 1.83%
• YTD: 3.85%
• 6M: 3.87%
• 1Y: 12.25%
• 3Y*: 8.79%
• 5Y*: 3.20%
• 10Y*: —

SPY

• 1D: -0.70%
• 1M: 5.05%
• YTD: 10.91%
• 6M: 10.91%
• 1Y: 27.98%
• 3Y*: 22.35%
• 5Y*: 13.83%
• 10Y*: 15.49%

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

EAOK vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
EAOK iShares ESG Aware Conservative Allocation ETF	3.85%	11.47%	5.81%	10.13%	-14.92%	4.32%	8.01%
SPY State Street SPDR S&P 500 ETF	10.91%	17.72%	24.89%	26.18%	-18.18%	28.73%	21.44%

Correlation

The correlation between EAOK and SPY is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jun 19, 2020	0.77

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

EAOK vs. SPY - Sectors Allocation Comparison

Sectors	EAOK	SPY
Technology	10.2%	35.9%
Financial Services	4.8%	11.8%
Industrials	3.2%	7.8%
Consumer Cyclical	2.7%	10.3%
Communication Services	2.6%	11.3%
Healthcare	2.4%	8.4%
Consumer Defensive	1.3%	4.8%
Energy	1.1%	3.6%
Basic Materials	0.8%	1.8%
Utilities	0.8%	2.4%
Real Estate	0.6%	1.9%

Return for Risk

EAOK vs. SPY — Risk / Return Rank

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

EAOK

EAOK Risk / Return Rank: 67
EAOK Sharpe Ratio Rank: 68
EAOK Sortino Ratio Rank: 72
EAOK Omega Ratio Rank: 71
EAOK Calmar Ratio Rank: 57
EAOK Martin Ratio Rank: 67

SPY

SPY Risk / Return Rank: 70
SPY Sharpe Ratio Rank: 71
SPY Sortino Ratio Rank: 69
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 62
SPY Martin Ratio Rank: 75

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.

EAOK vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware Conservative Allocation ETF (EAOK) and State Street SPDR S&P 500 ETF (SPY). 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.

	EAOK	SPY	Difference
Sharpe ratio: Return per unit of total volatility	2.24	2.38	-0.14
Sortino ratio: Return per unit of downside risk	3.28	3.24	+0.04
Omega ratio: Gain probability vs. loss probability	1.43	1.43	0.00
Calmar ratio: Return relative to maximum drawdown	2.78	3.16	-0.39
Martin ratio: Return relative to average drawdown	12.14	14.72	-2.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EAOK vs. SPY - Sharpe Ratio Comparison

The current EAOK Sharpe Ratio is 2.24, which is comparable to the SPY Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of EAOK and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EAOK	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	2.38	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.82	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.59	+0.06

Drawdowns

EAOK vs. SPY - Drawdown Comparison

The maximum EAOK drawdown since its inception was -19.91%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for EAOK and SPY.

Drawdown Indicators

	EAOK	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-19.91%	-55.19%	+35.28%
Max Drawdown (1Y) Largest decline over 1 year	-4.43%	-8.88%	+4.45%
Max Drawdown (3Y) Largest decline over 3 years	-7.08%	-18.76%	+11.68%
Max Drawdown (5Y) Largest decline over 5 years	-19.91%	-24.50%	+4.59%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-0.39%	-0.70%	+0.31%
Average Drawdown Average peak-to-trough decline	-5.02%	-9.05%	+4.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	1.91%	-0.90%

Volatility

EAOK vs. SPY - Volatility Comparison

The current volatility for iShares ESG Aware Conservative Allocation ETF (EAOK) is 2.05%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 2.84%. This indicates that EAOK experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EAOK	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.05%	2.84%	-0.79%
Volatility (6M) Calculated over the trailing 6-month period	4.48%	8.90%	-4.42%
Volatility (1Y) Calculated over the trailing 1-year period	5.49%	11.83%	-6.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.04%	17.05%	-10.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.83%	17.94%	-11.11%

EAOK vs. SPY - Expense Ratio Comparison

EAOK has a 0.18% expense ratio, which is higher than SPY'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

EAOK vs. SPY - Dividend Comparison

EAOK's dividend yield for the trailing twelve months is around 3.17%, more than SPY's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EAOK iShares ESG Aware Conservative Allocation ETF	3.17%	3.18%	3.15%	2.80%	2.27%	1.19%	1.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	0.98%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both EAOK and SPY in my portfolio?

EAOK and SPY have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EAOK or SPY?

SPY has higher volatility (2.84%) compared to EAOK (2.05%). In terms of maximum drawdown, EAOK dropped -19.91% vs SPY's -55.19%.

Which ETF is better, EAOK or SPY?

On 5-year performance, SPY leads with 13.83% vs 3.20% for EAOK. On fees, SPY is cheaper at 0.09% per year. On volatility, EAOK has been the lower-risk option at 2.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EAOK or SPY?

Over the 5-year period, SPY has performed better with a 13.83% return vs 3.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EAOK or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.18% for EAOK.

Which ETF pays a higher dividend yield, EAOK or SPY?

EAOK has the higher dividend yield at 3.17%, compared with 0.98% for SPY.

What is the main difference between EAOK and SPY?

EAOK is categorized as Diversified Portfolio, while SPY is S&P 500. EAOK tracks BlackRock ESG Aware Conservative Allocation Index, while SPY tracks S&P 500 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.18% for EAOK and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.38 vs 2.24), 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.