ETEC vs. AOA

Last updated Jun 4, 2026

ETEC (iShares Breakthrough Environmental Solutions ETF) and AOA (iShares Core 80/20 Aggressive Allocation ETF) are both exchange-traded funds - ETEC is a Technology Equities fund tracking the Morningstar Global Emerging Green Technologies Select Index - Benchmark TR Net, while AOA is a Diversified Portfolio fund tracking the S&P Target Risk Aggressive Index. Both are passively managed. Over the past 3 years, ETEC returned 10.90%/yr vs 17.52%/yr for AOA. A 0.71 correlation means they provide meaningful diversification when combined. ETEC charges 0.47%/yr vs 0.15%/yr for AOA.

Performance

ETEC vs. AOA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Breakthrough Environmental Solutions ETF (ETEC) and iShares Core 80/20 Aggressive Allocation ETF (AOA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETEC achieves a 29.01% return, which is significantly higher than AOA's 9.93% return.

ETEC

• 1D: 0.71%
• 1M: 10.60%
• YTD: 29.01%
• 6M: 30.09%
• 1Y: 63.13%
• 3Y*: 10.90%
• 5Y*: —
• 10Y*: —

AOA

• 1D: -0.50%
• 1M: 4.14%
• YTD: 9.93%
• 6M: 10.64%
• 1Y: 24.29%
• 3Y*: 17.52%
• 5Y*: 9.15%
• 10Y*: 10.56%

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

ETEC vs. AOA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ETEC iShares Breakthrough Environmental Solutions ETF	29.01%	31.89%	-18.16%	-6.50%
AOA iShares Core 80/20 Aggressive Allocation ETF	9.93%	19.59%	13.55%	12.25%

Correlation

The correlation between ETEC and AOA is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (All Time) Calculated using the full available price history since Mar 31, 2023	0.71

The correlation between ETEC and AOA has been stable across timeframes, ranging from 0.70 to 0.71 - a consistent structural relationship.

ETEC vs. AOA - Sectors Allocation Comparison

Sectors	ETEC	AOA
Industrials	36.4%	12.0%
Technology	23.0%	27.4%
Consumer Cyclical	22.5%	9.5%
Energy	11.9%	4.3%
Basic Materials	3.0%	4.2%
Utilities	2.9%	2.7%
Communication Services	-	8.3%
Consumer Defensive	-	5.0%
Financial Services	-	16.1%
Healthcare	-	8.0%
Real Estate	-	2.4%

Return for Risk

ETEC vs. AOA — Risk / Return Rank

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

ETEC

ETEC Risk / Return Rank: 86
ETEC Sharpe Ratio Rank: 88
ETEC Sortino Ratio Rank: 85
ETEC Omega Ratio Rank: 80
ETEC Calmar Ratio Rank: 91
ETEC Martin Ratio Rank: 87

AOA

AOA Risk / Return Rank: 67
AOA Sharpe Ratio Rank: 68
AOA Sortino Ratio Rank: 69
AOA Omega Ratio Rank: 69
AOA Calmar Ratio Rank: 59
AOA Martin Ratio Rank: 70

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.

ETEC vs. AOA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Breakthrough Environmental Solutions ETF (ETEC) 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.

	ETEC	AOA	Difference
Sharpe ratio: Return per unit of total volatility	2.97	2.30	+0.68
Sortino ratio: Return per unit of downside risk	3.83	3.23	+0.59
Omega ratio: Gain probability vs. loss probability	1.48	1.43	+0.05
Calmar ratio: Return relative to maximum drawdown	6.05	2.98	+3.07
Martin ratio: Return relative to average drawdown	18.94	13.20	+5.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETEC vs. AOA - Sharpe Ratio Comparison

The current ETEC Sharpe Ratio is 2.97, which is comparable to the AOA Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of ETEC 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.

Sharpe Ratios by Period

	ETEC	AOA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.97	2.30	+0.68
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.71	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.69	-0.32

Drawdowns

ETEC vs. AOA - Drawdown Comparison

The maximum ETEC drawdown since its inception was -39.71%, which is greater than AOA's maximum drawdown of -28.38%. Use the drawdown chart below to compare losses from any high point for ETEC and AOA.

Drawdown Indicators

	ETEC	AOA	Difference
Max Drawdown Largest peak-to-trough decline	-39.71%	-28.38%	-11.33%
Max Drawdown (1Y) Largest decline over 1 year	-10.49%	-8.20%	-2.29%
Max Drawdown (3Y) Largest decline over 3 years	-39.71%	-12.94%	-26.77%
Max Drawdown (5Y) Largest decline over 5 years	—	-23.62%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-28.38%	—
Current Drawdown Current decline from peak	0.00%	-0.50%	+0.50%
Average Drawdown Average peak-to-trough decline	-15.00%	-4.05%	-10.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	1.84%	+1.50%

Volatility

ETEC vs. AOA - Volatility Comparison

iShares Breakthrough Environmental Solutions ETF (ETEC) has a higher volatility of 7.14% compared to iShares Core 80/20 Aggressive Allocation ETF (AOA) at 3.25%. This indicates that ETEC's price experiences larger fluctuations and is considered to be riskier than AOA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETEC	AOA	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.14%	3.25%	+3.89%
Volatility (6M) Calculated over the trailing 6-month period	15.83%	8.51%	+7.32%
Volatility (1Y) Calculated over the trailing 1-year period	21.36%	10.63%	+10.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.87%	12.98%	+10.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.87%	13.55%	+10.32%

ETEC vs. AOA - Expense Ratio Comparison

ETEC has a 0.47% expense ratio, which is higher than AOA's 0.15% expense ratio.

Dividends

ETEC vs. AOA - Dividend Comparison

ETEC's dividend yield for the trailing twelve months is around 0.25%, less than AOA's 2.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
ETEC iShares Breakthrough Environmental Solutions ETF	0.25%	0.33%	1.24%	4.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ETEC and AOA in my portfolio?

ETEC and AOA have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETEC or AOA?

ETEC has higher volatility (7.14%) compared to AOA (3.25%). In terms of maximum drawdown, ETEC dropped -39.71% vs AOA's -28.38%.

Which ETF is better, ETEC or AOA?

On 3-year performance, AOA leads with 17.52% vs 10.90% for ETEC. On fees, AOA is cheaper at 0.15% per year. On volatility, AOA has been the lower-risk option at 3.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ETEC or AOA?

Over the 3-year period, AOA has performed better with a 17.52% return vs 10.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ETEC or AOA?

AOA is cheaper with a 0.15% expense ratio, compared with 0.47% for ETEC.

Which ETF pays a higher dividend yield, ETEC or AOA?

AOA has the higher dividend yield at 2.04%, compared with 0.25% for ETEC.

What is the main difference between ETEC and AOA?

ETEC is categorized as Technology Equities, while AOA is Diversified Portfolio. ETEC tracks Morningstar Global Emerging Green Technologies Select Index - Benchmark TR Net, while AOA tracks S&P Target Risk Aggressive Index. Their fees differ too: 0.47% for ETEC and 0.15% for AOA.

Which has better risk-adjusted returns?

ETEC currently has the higher Sharpe Ratio (2.97 vs 2.30), 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.