MPRO vs. AOR
MPRO (Monarch ProCap ETF) and AOR (iShares Core 60/40 Balanced Allocation ETF) are both Diversified Portfolio funds - MPRO tracks the Monarch ProCap Index while AOR tracks the S&P Target Risk Growth Index. Both are passively managed. Over the past 5 years, MPRO returned 5.66%/yr vs 6.73%/yr for AOR. A 0.80 correlation means they provide meaningful diversification when combined. MPRO charges 1.17%/yr vs 0.15%/yr for AOR.
Performance
MPRO vs. AOR - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with MPRO having a 6.27% return and AOR slightly higher at 6.31%.
MPRO
- 1D
- 0.04%
- 1M
- 0.14%
- YTD
- 6.27%
- 6M
- 6.02%
- 1Y
- 12.46%
- 3Y*
- 9.91%
- 5Y*
- 5.66%
- 10Y*
- —
AOR
- 1D
- -1.18%
- 1M
- -0.01%
- YTD
- 6.31%
- 6M
- 5.96%
- 1Y
- 17.17%
- 3Y*
- 13.59%
- 5Y*
- 6.73%
- 10Y*
- 8.54%
MPRO vs. AOR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MPRO Monarch ProCap ETF | 6.27% | 9.33% | 8.37% | 10.55% | -9.38% | 10.74% |
AOR iShares Core 60/40 Balanced Allocation ETF | 6.31% | 16.44% | 10.68% | 15.75% | -15.64% | 9.26% |
Correlation
The correlation between MPRO and AOR is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Mar 24, 2021 | 0.80 |
The correlation between MPRO and AOR has been stable across timeframes, ranging from 0.71 to 0.80 - a consistent structural relationship.
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Return for Risk
MPRO vs. AOR — Risk / Return Rank
MPRO
AOR
MPRO vs. AOR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Monarch ProCap ETF (MPRO) and iShares Core 60/40 Balanced Allocation ETF (AOR). 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.
| MPRO | AOR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.36 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 2.60 | -0.39 |
| Martin ratioReturn relative to average drawdown | 8.68 | 11.13 | -2.45 |
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Drawdowns
MPRO vs. AOR - Drawdown Comparison
The maximum MPRO drawdown since its inception was -14.51%, smaller than the maximum AOR drawdown of -24.44%. Use the drawdown chart below to compare losses from any high point for MPRO and AOR.
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Drawdown Indicators
| MPRO | AOR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.51% | -24.44% | +9.93% |
Max Drawdown (1Y)Largest decline over 1 year | -5.67% | -6.64% | +0.97% |
Max Drawdown (3Y)Largest decline over 3 years | -9.64% | -9.77% | +0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -14.51% | -21.72% | +7.21% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.95% | — |
Current DrawdownCurrent decline from peak | -0.94% | -1.53% | +0.59% |
Average DrawdownAverage peak-to-trough decline | -3.43% | -3.47% | +0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.44% | 1.55% | -0.11% |
Volatility
MPRO vs. AOR - Volatility Comparison
The current volatility for Monarch ProCap ETF (MPRO) is 2.04%, while iShares Core 60/40 Balanced Allocation ETF (AOR) has a volatility of 3.61%. This indicates that MPRO experiences smaller price fluctuations and is considered to be less risky than AOR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MPRO | AOR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.04% | 3.61% | -1.57% |
Volatility (6M)Calculated over the trailing 6-month period | 5.15% | 7.49% | -2.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.79% | 8.96% | -2.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.28% | 10.64% | -1.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.22% | 10.66% | -1.44% |
MPRO vs. AOR - Expense Ratio Comparison
MPRO has a 1.17% expense ratio, which is higher than AOR's 0.15% expense ratio.
Dividends
MPRO vs. AOR - Dividend Comparison
MPRO's dividend yield for the trailing twelve months is around 1.87%, less than AOR's 2.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AOR iShares Core 60/40 Balanced Allocation ETF | 2.49% | 2.55% | 2.66% | 2.50% | 2.12% | 1.64% | 1.89% | 2.56% | 2.49% | 4.51% | 2.16% | 2.12% |
MPRO Monarch ProCap ETF | 1.87% | 1.93% | 1.64% | 1.40% | 1.09% | 0.95% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MPRO and AOR have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AOR has higher volatility (3.61%) compared to MPRO (2.04%). In terms of maximum drawdown, MPRO dropped -14.51% vs AOR's -24.44%.
On 5-year performance, AOR leads with 6.73% vs 5.66% for MPRO. On fees, AOR is cheaper at 0.15% per year. On volatility, MPRO has been the lower-risk option at 2.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, AOR has performed better with a 6.73% return vs 5.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AOR is cheaper with a 0.15% expense ratio, compared with 1.17% for MPRO.
AOR has the higher dividend yield at 2.49%, compared with 1.87% for MPRO.
MPRO tracks Monarch ProCap Index, while AOR tracks S&P Target Risk Growth Index. They also come from different issuers: Monarch and iShares. Their fees differ too: 1.17% for MPRO and 0.15% for AOR.
AOR currently has the higher Sharpe Ratio (1.93 vs 1.85), 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.
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