TWSAX vs. OCIO

Last updated Jun 24, 2026

TWSAX (American Century Strategic Allocation: Aggressive Fund) and OCIO (ClearShares OCIO ETF) are both Diversified Portfolio funds. Over the past 5 years, TWSAX returned 7.56%/yr vs 7.15%/yr for OCIO. Their correlation of 0.87 suggests significant overlap in exposure. TWSAX charges 0.63%/yr vs 0.61%/yr for OCIO.

Performance

TWSAX vs. OCIO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Strategic Allocation: Aggressive Fund (TWSAX) and ClearShares OCIO ETF (OCIO). 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 TWSAX having a 7.75% return and OCIO slightly higher at 7.89%.

TWSAX

• 1D: -0.11%
• 1M: 1.10%
• YTD: 7.75%
• 6M: 6.99%
• 1Y: 18.23%
• 3Y*: 15.09%
• 5Y*: 7.56%
• 10Y*: 10.62%

OCIO

• 1D: -1.91%
• 1M: 0.56%
• YTD: 7.89%
• 6M: 7.37%
• 1Y: 18.77%
• 3Y*: 13.27%
• 5Y*: 7.15%
• 10Y*: —

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

TWSAX vs. OCIO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TWSAX American Century Strategic Allocation: Aggressive Fund	7.75%	15.87%	13.12%	15.28%	-15.47%	14.92%	18.37%	24.38%	-6.59%	8.31%
OCIO ClearShares OCIO ETF	7.89%	12.68%	12.76%	12.03%	-12.49%	13.20%	11.54%	18.56%	-10.35%	8.91%

Correlation

The correlation between TWSAX and OCIO 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	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jun 27, 2017	0.87

The correlation between TWSAX and OCIO has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.

Return for Risk

TWSAX vs. OCIO — Risk / Return Rank

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

TWSAX

TWSAX Risk / Return Rank: 44
TWSAX Sharpe Ratio Rank: 43
TWSAX Sortino Ratio Rank: 42
TWSAX Omega Ratio Rank: 42
TWSAX Calmar Ratio Rank: 41
TWSAX Martin Ratio Rank: 50

OCIO

OCIO Risk / Return Rank: 59
OCIO Sharpe Ratio Rank: 56
OCIO Sortino Ratio Rank: 56
OCIO Omega Ratio Rank: 58
OCIO Calmar Ratio Rank: 59
OCIO Martin Ratio Rank: 67

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.

TWSAX vs. OCIO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Strategic Allocation: Aggressive Fund (TWSAX) and ClearShares OCIO ETF (OCIO). 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.

	TWSAX	OCIO	Difference
Sharpe ratio: Return per unit of total volatility	1.78	1.77	+0.01
Sortino ratio: Return per unit of downside risk	2.52	2.48	+0.05
Omega ratio: Gain probability vs. loss probability	1.32	1.33	-0.01
Calmar ratio: Return relative to maximum drawdown	2.32	2.70	-0.38
Martin ratio: Return relative to average drawdown	9.77	11.54	-1.76

TWSAX vs. OCIO - Sharpe Ratio Comparison

The current TWSAX Sharpe Ratio is 1.78, which is comparable to the OCIO Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of TWSAX and OCIO, 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

TWSAX vs. OCIO - Drawdown Comparison

The maximum TWSAX drawdown since its inception was -46.25%, which is greater than OCIO's maximum drawdown of -24.21%. Use the drawdown chart below to compare losses from any high point for TWSAX and OCIO.

Drawdown Indicators

	TWSAX	OCIO	Difference
Max Drawdown Largest peak-to-trough decline	-46.25%	-24.21%	-22.04%
Max Drawdown (1Y) Largest decline over 1 year	-8.27%	-6.98%	-1.29%
Max Drawdown (3Y) Largest decline over 3 years	-14.75%	-13.32%	-1.43%
Max Drawdown (5Y) Largest decline over 5 years	-23.64%	-18.75%	-4.89%
Max Drawdown (10Y) Largest decline over 10 years	-30.07%	—	—
Current Drawdown Current decline from peak	-0.65%	-1.91%	+1.26%
Average Drawdown Average peak-to-trough decline	-7.77%	-4.42%	-3.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	1.63%	+0.33%

Volatility

TWSAX vs. OCIO - Volatility Comparison

The current volatility for American Century Strategic Allocation: Aggressive Fund (TWSAX) is 3.97%, while ClearShares OCIO ETF (OCIO) has a volatility of 5.12%. This indicates that TWSAX experiences smaller price fluctuations and is considered to be less risky than OCIO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TWSAX	OCIO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.97%	5.12%	-1.15%
Volatility (6M) Calculated over the trailing 6-month period	8.87%	8.93%	-0.06%
Volatility (1Y) Calculated over the trailing 1-year period	10.79%	10.68%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.52%	10.79%	+2.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.11%	11.43%	+2.68%

TWSAX vs. OCIO - Expense Ratio Comparison

TWSAX has a 0.63% expense ratio, which is higher than OCIO's 0.61% expense ratio.

Dividends

TWSAX vs. OCIO - Dividend Comparison

TWSAX's dividend yield for the trailing twelve months is around 6.48%, less than OCIO's 9.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OCIO ClearShares OCIO ETF	9.61%	10.27%	1.87%	2.32%	3.21%	2.83%	2.90%	2.22%	0.01%	1.68%	0.00%	0.00%
TWSAX American Century Strategic Allocation: Aggressive Fund	6.48%	6.98%	6.92%	2.38%	5.51%	13.14%	6.54%	15.43%	14.22%	9.74%	1.54%	7.60%

Frequently Asked Questions

Can I hold both TWSAX and OCIO in my portfolio?

With a correlation of 0.90, TWSAX and OCIO 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, TWSAX or OCIO?

OCIO has higher volatility (5.12%) compared to TWSAX (3.97%). In terms of maximum drawdown, TWSAX dropped -46.25% vs OCIO's -24.21%.

Which has better risk-adjusted returns?

TWSAX currently has the higher Sharpe Ratio (1.78 vs 1.77), 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.