MFUL vs. AOA

Last updated Jun 26, 2026

MFUL (Mindful Conservative ETF) and AOA (iShares Core 80/20 Aggressive Allocation ETF) are both Diversified Portfolio funds. MFUL is actively managed, while AOA is passively managed. Over the past 3 years, MFUL returned 4.66%/yr vs 16.81%/yr for AOA. A 0.70 correlation means they provide meaningful diversification when combined. MFUL charges 1.10%/yr vs 0.15%/yr for AOA.

Performance

MFUL vs. AOA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Mindful Conservative ETF (MFUL) 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, MFUL achieves a 2.90% return, which is significantly lower than AOA's 8.51% return.

MFUL

• 1D: 0.35%
• 1M: -0.18%
• YTD: 2.90%
• 6M: 2.47%
• 1Y: 6.12%
• 3Y*: 4.66%
• 5Y*: —
• 10Y*: —

AOA

• 1D: 0.33%
• 1M: -0.91%
• YTD: 8.51%
• 6M: 7.69%
• 1Y: 20.66%
• 3Y*: 16.81%
• 5Y*: 8.77%
• 10Y*: 10.92%

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

MFUL vs. AOA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MFUL Mindful Conservative ETF	2.90%	4.51%	5.36%	2.24%	-12.46%	-1.61%
AOA iShares Core 80/20 Aggressive Allocation ETF	8.51%	19.59%	13.55%	18.27%	-16.23%	0.94%

Correlation

The correlation between MFUL and AOA is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (All Time) Calculated using the full available price history since Nov 3, 2021	0.70

The correlation between MFUL and AOA shifts across timeframes, from 0.70 (all time) to 0.90 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MFUL vs. AOA — Risk / Return Rank

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

MFUL

MFUL Risk / Return Rank: 45
MFUL Sharpe Ratio Rank: 47
MFUL Sortino Ratio Rank: 45
MFUL Omega Ratio Rank: 49
MFUL Calmar Ratio Rank: 40
MFUL Martin Ratio Rank: 46

AOA

AOA Risk / Return Rank: 65
AOA Sharpe Ratio Rank: 66
AOA Sortino Ratio Rank: 65
AOA Omega Ratio Rank: 67
AOA Calmar Ratio Rank: 60
AOA Martin Ratio Rank: 69

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.

MFUL vs. AOA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mindful Conservative ETF (MFUL) 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.

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.

	MFUL	AOA	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.86	-0.40
Sortino ratio: Return per unit of downside risk	2.03	2.58	-0.56
Omega ratio: Gain probability vs. loss probability	1.28	1.35	-0.07
Calmar ratio: Return relative to maximum drawdown	1.83	2.53	-0.70
Martin ratio: Return relative to average drawdown	6.87	10.94	-4.06

MFUL vs. AOA - Sharpe Ratio Comparison

The current MFUL Sharpe Ratio is 1.46, which is comparable to the AOA Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of MFUL 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.

Drawdowns

MFUL vs. AOA - Drawdown Comparison

The maximum MFUL drawdown since its inception was -16.41%, smaller than the maximum AOA drawdown of -28.38%. Use the drawdown chart below to compare losses from any high point for MFUL and AOA.

Drawdown Indicators

	MFUL	AOA	Difference
Max Drawdown Largest peak-to-trough decline	-16.41%	-28.38%	+11.97%
Max Drawdown (1Y) Largest decline over 1 year	-3.36%	-8.20%	+4.84%
Max Drawdown (3Y) Largest decline over 3 years	-4.74%	-12.94%	+8.20%
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	-0.83%	-1.78%	+0.95%
Average Drawdown Average peak-to-trough decline	-9.38%	-4.04%	-5.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	1.89%	-1.00%

Volatility

MFUL vs. AOA - Volatility Comparison

The current volatility for Mindful Conservative ETF (MFUL) is 1.83%, while iShares Core 80/20 Aggressive Allocation ETF (AOA) has a volatility of 4.31%. This indicates that MFUL 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

	MFUL	AOA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.83%	4.31%	-2.48%
Volatility (6M) Calculated over the trailing 6-month period	3.58%	9.32%	-5.74%
Volatility (1Y) Calculated over the trailing 1-year period	4.22%	11.18%	-6.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.29%	13.08%	-8.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.29%	13.51%	-9.22%

MFUL vs. AOA - Expense Ratio Comparison

MFUL has a 1.10% expense ratio, which is higher than AOA's 0.15% expense ratio.

Dividends

MFUL vs. AOA - Dividend Comparison

MFUL's dividend yield for the trailing twelve months is around 3.02%, more than AOA's 2.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOA iShares Core 80/20 Aggressive Allocation ETF	2.07%	2.18%	2.30%	2.22%	2.10%	1.67%	1.71%	2.50%	2.37%	5.09%	2.26%	2.15%
MFUL Mindful Conservative ETF	3.02%	3.31%	2.59%	5.00%	0.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MFUL and AOA in my portfolio?

With a correlation of 0.90, MFUL and AOA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MFUL or AOA?

AOA has higher volatility (4.31%) compared to MFUL (1.83%). In terms of maximum drawdown, MFUL dropped -16.41% vs AOA's -28.38%.

Which ETF is better, MFUL or AOA?

On 3-year performance, AOA leads with 16.81% vs 4.66% for MFUL. On fees, AOA is cheaper at 0.15% per year. On volatility, MFUL has been the lower-risk option at 1.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MFUL or AOA?

Over the 3-year period, AOA has performed better with a 16.81% return vs 4.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MFUL or AOA?

AOA is cheaper with a 0.15% expense ratio, compared with 1.10% for MFUL.

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

MFUL has the higher dividend yield at 3.02%, compared with 2.07% for AOA.

What is the main difference between MFUL and AOA?

They also come from different issuers: Mohr Funds and iShares. Their fees differ too: 1.10% for MFUL and 0.15% for AOA.

Which has better risk-adjusted returns?

AOA currently has the higher Sharpe Ratio (1.86 vs 1.46), 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.