HYIN vs. AOA

Last updated Jun 6, 2026

HYIN (WisdomTree Alternative Income Fund) and AOA (iShares Core 80/20 Aggressive Allocation ETF) are both Diversified Portfolio funds - HYIN tracks the Gapstow Liquid Alternative Credit Index while AOA tracks the S&P Target Risk Aggressive Index. Both are passively managed. Over the past 5 years, HYIN returned -0.64%/yr vs 8.63%/yr for AOA. A 0.72 correlation means they provide meaningful diversification when combined. HYIN charges 3.20%/yr vs 0.15%/yr for AOA.

Performance

HYIN vs. AOA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Alternative Income Fund (HYIN) 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, HYIN achieves a -5.96% return, which is significantly lower than AOA's 7.36% return.

HYIN

• 1D: -0.77%
• 1M: -4.56%
• YTD: -5.96%
• 6M: -7.32%
• 1Y: -4.96%
• 3Y*: 4.45%
• 5Y*: -0.64%
• 10Y*: —

AOA

• 1D: -2.52%
• 1M: -0.81%
• YTD: 7.36%
• 6M: 7.82%
• 1Y: 21.62%
• 3Y*: 16.51%
• 5Y*: 8.63%
• 10Y*: 10.20%

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

HYIN vs. AOA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HYIN WisdomTree Alternative Income Fund	-5.96%	-0.46%	7.39%	21.84%	-21.14%	3.08%
AOA iShares Core 80/20 Aggressive Allocation ETF	7.36%	19.59%	13.55%	18.27%	-16.23%	6.21%

Correlation

The correlation between HYIN and AOA is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since May 7, 2021	0.72

The correlation between HYIN and AOA shifts across timeframes, from 0.57 (1 year) to 0.72 (all time), reflecting how their relationship changes across market environments.

HYIN vs. AOA - Sectors Allocation Comparison

Sectors	HYIN	AOA
Real Estate	63.0%	2.4%
Financial Services	37.0%	16.1%
Energy	0.0%	4.3%
Basic Materials	0.0%	4.2%
Communication Services	0.0%	8.3%
Consumer Cyclical	-	9.5%
Consumer Defensive	-	5.0%
Healthcare	-	8.0%
Industrials	-	12.0%
Technology	-	27.4%
Utilities	-	2.7%

Return for Risk

HYIN vs. AOA — Risk / Return Rank

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

HYIN

HYIN Risk / Return Rank: 6
HYIN Sharpe Ratio Rank: 6
HYIN Sortino Ratio Rank: 5
HYIN Omega Ratio Rank: 5
HYIN Calmar Ratio Rank: 6
HYIN Martin Ratio Rank: 6

AOA

AOA Risk / Return Rank: 61
AOA Sharpe Ratio Rank: 60
AOA Sortino Ratio Rank: 60
AOA Omega Ratio Rank: 62
AOA Calmar Ratio Rank: 54
AOA Martin Ratio Rank: 65

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.

HYIN vs. AOA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Alternative Income Fund (HYIN) 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.

	HYIN	AOA	Difference
Sharpe ratio: Return per unit of total volatility	-0.39	1.99	-2.38
Sortino ratio: Return per unit of downside risk	-0.46	2.75	-3.22
Omega ratio: Gain probability vs. loss probability	0.95	1.37	-0.42
Calmar ratio: Return relative to maximum drawdown	-0.32	2.65	-2.97
Martin ratio: Return relative to average drawdown	-0.68	11.69	-12.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYIN vs. AOA - Sharpe Ratio Comparison

The current HYIN Sharpe Ratio is -0.39, which is lower than the AOA Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of HYIN 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

	HYIN	AOA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.39	1.99	-2.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.04	0.67	-0.70
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	0.68	-0.68

Drawdowns

HYIN vs. AOA - Drawdown Comparison

The maximum HYIN drawdown since its inception was -31.10%, which is greater than AOA's maximum drawdown of -28.38%. Use the drawdown chart below to compare losses from any high point for HYIN and AOA.

Drawdown Indicators

	HYIN	AOA	Difference
Max Drawdown Largest peak-to-trough decline	-31.10%	-28.38%	-2.72%
Max Drawdown (1Y) Largest decline over 1 year	-15.52%	-8.20%	-7.32%
Max Drawdown (3Y) Largest decline over 3 years	-15.85%	-12.94%	-2.91%
Max Drawdown (5Y) Largest decline over 5 years	-31.10%	-23.62%	-7.48%
Max Drawdown (10Y) Largest decline over 10 years	—	-28.38%	—
Current Drawdown Current decline from peak	-11.75%	-2.83%	-8.92%
Average Drawdown Average peak-to-trough decline	-9.02%	-4.05%	-4.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.32%	1.85%	+5.47%

Volatility

HYIN vs. AOA - Volatility Comparison

The current volatility for WisdomTree Alternative Income Fund (HYIN) is 3.46%, while iShares Core 80/20 Aggressive Allocation ETF (AOA) has a volatility of 3.84%. This indicates that HYIN 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.

Volatility by Period

	HYIN	AOA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.46%	3.84%	-0.38%
Volatility (6M) Calculated over the trailing 6-month period	10.19%	8.91%	+1.28%
Volatility (1Y) Calculated over the trailing 1-year period	12.84%	10.94%	+1.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.80%	13.02%	+3.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.80%	13.57%	+3.23%

HYIN vs. AOA - Expense Ratio Comparison

HYIN has a 3.20% expense ratio, which is higher than AOA's 0.15% expense ratio.

Dividends

HYIN vs. AOA - Dividend Comparison

HYIN's dividend yield for the trailing twelve months is around 13.37%, more than AOA's 2.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOA iShares Core 80/20 Aggressive Allocation ETF	2.09%	2.18%	2.30%	2.22%	2.10%	1.67%	1.71%	2.50%	2.37%	5.09%	2.26%	2.15%
HYIN WisdomTree Alternative Income Fund	13.37%	12.58%	12.59%	11.71%	11.34%	4.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYIN and AOA in my portfolio?

HYIN and AOA have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYIN or AOA?

AOA has higher volatility (3.84%) compared to HYIN (3.46%). In terms of maximum drawdown, HYIN dropped -31.10% vs AOA's -28.38%.

Which ETF is better, HYIN or AOA?

On 5-year performance, AOA leads with 8.63% vs -0.64% for HYIN. On fees, AOA is cheaper at 0.15% per year. On volatility, HYIN has been the lower-risk option at 3.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYIN or AOA?

Over the 5-year period, AOA has performed better with a 8.63% return vs -0.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYIN or AOA?

AOA is cheaper with a 0.15% expense ratio, compared with 3.20% for HYIN.

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

HYIN has the higher dividend yield at 13.37%, compared with 2.09% for AOA.

What is the main difference between HYIN and AOA?

HYIN tracks Gapstow Liquid Alternative Credit Index, while AOA tracks S&P Target Risk Aggressive Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 3.20% for HYIN and 0.15% for AOA.

Which has better risk-adjusted returns?

AOA currently has the higher Sharpe Ratio (1.99 vs -0.39), 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.