NDAA vs. EAOA

Last updated Jun 23, 2026

NDAA (Ned Davis Research 360 Dynamic Allocation ETF) and EAOA (iShares ESG Aware Aggressive Allocation ETF) are both Diversified Portfolio funds. NDAA is actively managed, while EAOA is passively managed. Over the past year, NDAA returned 24.70% vs 24.55% for EAOA. With a 0.97 correlation, they move nearly in lockstep. NDAA charges 0.65%/yr vs 0.18%/yr for EAOA.

Performance

NDAA vs. EAOA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ned Davis Research 360 Dynamic Allocation ETF (NDAA) and iShares ESG Aware Aggressive Allocation ETF (EAOA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with NDAA having a 9.85% return and EAOA slightly higher at 10.12%.

NDAA

• 1D: -0.34%
• 1M: -0.04%
• YTD: 9.85%
• 6M: 9.96%
• 1Y: 24.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EAOA

• 1D: -0.16%
• 1M: 1.73%
• YTD: 10.12%
• 6M: 9.94%
• 1Y: 24.55%
• 3Y*: 17.05%
• 5Y*: 8.61%
• 10Y*: —

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

NDAA vs. EAOA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NDAA Ned Davis Research 360 Dynamic Allocation ETF	9.85%	14.00%	-1.48%
EAOA iShares ESG Aware Aggressive Allocation ETF	10.12%	18.41%	-1.50%

Correlation

The correlation between NDAA and EAOA is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (All Time) Calculated using the full available price history since Oct 17, 2024	0.97

The correlation between NDAA and EAOA has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.

Return for Risk

NDAA vs. EAOA — Risk / Return Rank

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

NDAA

NDAA Risk / Return Rank: 70
NDAA Sharpe Ratio Rank: 71
NDAA Sortino Ratio Rank: 68
NDAA Omega Ratio Rank: 71
NDAA Calmar Ratio Rank: 67
NDAA Martin Ratio Rank: 74

EAOA

EAOA Risk / Return Rank: 69
EAOA Sharpe Ratio Rank: 70
EAOA Sortino Ratio Rank: 70
EAOA Omega Ratio Rank: 70
EAOA Calmar Ratio Rank: 63
EAOA Martin Ratio Rank: 72

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.

NDAA vs. EAOA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ned Davis Research 360 Dynamic Allocation ETF (NDAA) and iShares ESG Aware Aggressive Allocation ETF (EAOA). 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.

	NDAA	EAOA	Difference
Sharpe ratio: Return per unit of total volatility	2.21	2.18	+0.03
Sortino ratio: Return per unit of downside risk	3.00	3.04	-0.04
Omega ratio: Gain probability vs. loss probability	1.40	1.40	+0.01
Calmar ratio: Return relative to maximum drawdown	3.26	3.02	+0.24
Martin ratio: Return relative to average drawdown	13.44	13.09	+0.35

NDAA vs. EAOA - Sharpe Ratio Comparison

The current NDAA Sharpe Ratio is 2.21, which is comparable to the EAOA Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of NDAA and EAOA, 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

NDAA vs. EAOA - Drawdown Comparison

The maximum NDAA drawdown since its inception was -13.50%, smaller than the maximum EAOA drawdown of -25.06%. Use the drawdown chart below to compare losses from any high point for NDAA and EAOA.

Drawdown Indicators

	NDAA	EAOA	Difference
Max Drawdown Largest peak-to-trough decline	-13.50%	-25.06%	+11.56%
Max Drawdown (1Y) Largest decline over 1 year	-7.62%	-8.17%	+0.55%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.84%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.06%	—
Current Drawdown Current decline from peak	-1.60%	-0.54%	-1.06%
Average Drawdown Average peak-to-trough decline	-1.95%	-5.28%	+3.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	1.88%	-0.04%

Volatility

NDAA vs. EAOA - Volatility Comparison

Ned Davis Research 360 Dynamic Allocation ETF (NDAA) and iShares ESG Aware Aggressive Allocation ETF (EAOA) have volatilities of 4.22% and 4.34%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NDAA	EAOA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.22%	4.34%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	9.07%	9.39%	-0.32%
Volatility (1Y) Calculated over the trailing 1-year period	11.26%	11.35%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.15%	13.35%	-1.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.15%	13.19%	-1.04%

NDAA vs. EAOA - Expense Ratio Comparison

NDAA has a 0.65% expense ratio, which is higher than EAOA's 0.18% expense ratio.

Dividends

NDAA vs. EAOA - Dividend Comparison

NDAA's dividend yield for the trailing twelve months is around 2.46%, more than EAOA's 1.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
EAOA iShares ESG Aware Aggressive Allocation ETF	1.95%	2.10%	2.09%	2.21%	1.93%	1.48%	1.12%
NDAA Ned Davis Research 360 Dynamic Allocation ETF	2.46%	2.71%	0.83%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NDAA and EAOA in my portfolio?

With a correlation of 0.97, NDAA and EAOA 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, NDAA or EAOA?

EAOA has higher volatility (4.34%) compared to NDAA (4.22%). In terms of maximum drawdown, NDAA dropped -13.50% vs EAOA's -25.06%.

Which ETF is better, NDAA or EAOA?

On 1-year performance, NDAA leads with 24.70% vs 24.55% for EAOA. On fees, EAOA is cheaper at 0.18% per year. On volatility, NDAA has been the lower-risk option at 4.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NDAA or EAOA?

Over the 1-year period, NDAA has performed better with a 24.70% return vs 24.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NDAA or EAOA?

EAOA is cheaper with a 0.18% expense ratio, compared with 0.65% for NDAA.

Which ETF pays a higher dividend yield, NDAA or EAOA?

NDAA has the higher dividend yield at 2.46%, compared with 1.95% for EAOA.

What is the main difference between NDAA and EAOA?

They also come from different issuers: Ned Davis Research and iShares. Their fees differ too: 0.65% for NDAA and 0.18% for EAOA.

Which has better risk-adjusted returns?

NDAA currently has the higher Sharpe Ratio (2.21 vs 2.18), 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.