MIGO vs. AFOS

Last updated Jun 4, 2026

MIGO (MIG Core ETF) and AFOS (ARS Focused Opportunities Strategy ETF) are both Large Cap Blend Equities funds. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.45% expense ratio.

Performance

MIGO vs. AFOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MIG Core ETF (MIGO) and ARS Focused Opportunities Strategy ETF (AFOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MIGO

• 1D: -0.60%
• 1M: 11.47%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AFOS

• 1D: -0.29%
• 1M: 8.94%
• YTD: 32.04%
• 6M: 37.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MIGO vs. AFOS - Yearly Performance Comparison

	2026 (YTD)
MIGO MIG Core ETF	22.08%
AFOS ARS Focused Opportunities Strategy ETF	18.01%

Correlation

The correlation between MIGO and AFOS 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 (All Time) Calculated using the full available price history since Feb 24, 2026	0.90

Return for Risk

MIGO vs. AFOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MIG Core ETF (MIGO) and ARS Focused Opportunities Strategy ETF (AFOS). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MIGO	AFOS	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	4.48	4.35	+0.13

Drawdowns

MIGO vs. AFOS - Drawdown Comparison

The maximum MIGO drawdown since its inception was -13.39%, which is greater than AFOS's maximum drawdown of -11.52%. Use the drawdown chart below to compare losses from any high point for MIGO and AFOS.

Drawdown Indicators

	MIGO	AFOS	Difference
Max Drawdown Largest peak-to-trough decline	-13.39%	-11.52%	-1.87%
Current Drawdown Current decline from peak	-0.60%	-0.29%	-0.31%
Average Drawdown Average peak-to-trough decline	-2.81%	-1.37%	-1.44%

Volatility

Volatility by Period

	MIGO	AFOS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	23.64%	20.19%	+3.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.64%	20.19%	+3.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.64%	20.19%	+3.45%

MIGO vs. AFOS - Expense Ratio Comparison

Both MIGO and AFOS have an expense ratio of 0.45%.

Dividends

MIGO vs. AFOS - Dividend Comparison

MIGO has not paid dividends to shareholders, while AFOS's dividend yield for the trailing twelve months is around 0.22%.

Position	TTM	2025
AFOS ARS Focused Opportunities Strategy ETF	0.22%	0.30%
MIGO MIG Core ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both MIGO and AFOS in my portfolio?

With a correlation of 0.90, MIGO and AFOS 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 ETF is better, MIGO or AFOS?

Both ETFs have the same 0.45% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MIGO or AFOS?

MIGO and AFOS have the same expense ratio: 0.45% per year.

Which ETF pays a higher dividend yield, MIGO or AFOS?

AFOS has the higher dividend yield at 0.22%, compared with 0.00% for MIGO.

What is the main difference between MIGO and AFOS?

They also come from different issuers: Exchange Traded Concepts and ARS Investment Partners.