RPGAX vs. AOM
RPGAX (T. Rowe Price Global Allocation Fund) and AOM (iShares Core Moderate Allocation ETF) are both funds - RPGAX is a Global Allocation fund actively managed by T. Rowe Price, while AOM is a Diversified Portfolio fund tracking the S&P Target Risk Moderate. RPGAX is actively managed, while AOM is passively managed. Over the past 10 years, RPGAX returned 8.21%/yr vs 6.31%/yr for AOM. Their correlation of 0.89 suggests significant overlap in exposure. RPGAX charges 1.01%/yr vs 0.25%/yr for AOM.
Performance
RPGAX vs. AOM - Performance Comparison
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Returns By Period
In the year-to-date period, RPGAX achieves a 6.32% return, which is significantly higher than AOM's 4.75% return. Over the past 10 years, RPGAX has outperformed AOM with an annualized return of 8.21%, while AOM has yielded a comparatively lower 6.31% annualized return.
RPGAX
- 1D
- 1.56%
- 1M
- 1.01%
- YTD
- 6.32%
- 6M
- 6.83%
- 1Y
- 16.41%
- 3Y*
- 12.71%
- 5Y*
- 5.66%
- 10Y*
- 8.21%
AOM
- 1D
- 0.04%
- 1M
- 1.35%
- YTD
- 4.75%
- 6M
- 5.32%
- 1Y
- 13.68%
- 3Y*
- 10.66%
- 5Y*
- 4.66%
- 10Y*
- 6.31%
RPGAX vs. AOM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RPGAX T. Rowe Price Global Allocation Fund | 6.32% | 15.00% | 9.65% | 13.78% | -14.54% | 9.17% | 14.80% | 20.37% | -6.89% | 15.92% |
AOM iShares Core Moderate Allocation ETF | 4.75% | 13.28% | 7.95% | 12.38% | -14.54% | 6.93% | 10.02% | 15.58% | -3.88% | 11.63% |
Correlation
The correlation between RPGAX and AOM is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014 | 0.89 |
The correlation between RPGAX and AOM has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.
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Return for Risk
RPGAX vs. AOM — Risk / Return Rank
RPGAX
AOM
RPGAX vs. AOM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Global Allocation Fund (RPGAX) and iShares Core Moderate Allocation ETF (AOM). 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.
| RPGAX | AOM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.35 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | 2.52 | -0.16 |
| Martin ratioReturn relative to average drawdown | 10.09 | 10.84 | -0.75 |
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Drawdowns
RPGAX vs. AOM - Drawdown Comparison
The maximum RPGAX drawdown since its inception was -24.42%, which is greater than AOM's maximum drawdown of -19.96%. Use the drawdown chart below to compare losses from any high point for RPGAX and AOM.
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Drawdown Indicators
| RPGAX | AOM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.42% | -19.96% | -4.46% |
Max Drawdown (1Y)Largest decline over 1 year | -6.75% | -5.11% | -1.64% |
Max Drawdown (3Y)Largest decline over 3 years | -9.57% | -6.85% | -2.72% |
Max Drawdown (5Y)Largest decline over 5 years | -21.79% | -19.96% | -1.83% |
Max Drawdown (10Y)Largest decline over 10 years | -24.42% | -19.96% | -4.46% |
Current DrawdownCurrent decline from peak | -1.16% | -0.70% | -0.46% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -2.70% | -1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.57% | 1.19% | +0.38% |
Volatility
RPGAX vs. AOM - Volatility Comparison
T. Rowe Price Global Allocation Fund (RPGAX) has a higher volatility of 3.41% compared to iShares Core Moderate Allocation ETF (AOM) at 2.82%. This indicates that RPGAX's price experiences larger fluctuations and is considered to be riskier than AOM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RPGAX | AOM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.41% | 2.82% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 6.95% | 5.63% | +1.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.26% | 6.90% | +1.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.53% | 8.19% | +1.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.26% | 7.96% | +2.30% |
RPGAX vs. AOM - Expense Ratio Comparison
RPGAX has a 1.01% expense ratio, which is higher than AOM's 0.25% expense ratio.
Dividends
RPGAX vs. AOM - Dividend Comparison
RPGAX's dividend yield for the trailing twelve months is around 6.61%, more than AOM's 2.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AOM iShares Core Moderate Allocation ETF | 2.99% | 2.98% | 3.10% | 2.79% | 2.27% | 1.56% | 2.02% | 2.66% | 2.53% | 3.31% | 2.14% | 1.98% |
RPGAX T. Rowe Price Global Allocation Fund | 6.61% | 7.03% | 5.24% | 2.49% | 3.15% | 7.54% | 1.05% | 2.97% | 2.52% | 0.75% | 0.36% | 1.62% |
Frequently Asked Questions
With a correlation of 0.91, RPGAX and AOM 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.
RPGAX has higher volatility (3.41%) compared to AOM (2.82%). In terms of maximum drawdown, RPGAX dropped -24.42% vs AOM's -19.96%.
RPGAX currently has the higher Sharpe Ratio (1.92 vs 1.87), 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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