VLU vs. AOA
VLU (SPDR S&P 1500 Value Tilt ETF) and AOA (iShares Core 80/20 Aggressive Allocation ETF) are both exchange-traded funds - VLU is a Large Cap Value Equities fund tracking the S&P 1500 Low Valuation Tilt Index, while AOA is a Diversified Portfolio fund tracking the S&P Target Risk Aggressive Index. Both are passively managed. Over the past 10 years, VLU returned 14.21%/yr vs 10.91%/yr for AOA. A 0.67 correlation means they provide meaningful diversification when combined. VLU charges 0.12%/yr vs 0.15%/yr for AOA.
Performance
VLU vs. AOA - Performance Comparison
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Returns By Period
In the year-to-date period, VLU achieves a 13.20% return, which is significantly higher than AOA's 9.88% return. Over the past 10 years, VLU has outperformed AOA with an annualized return of 14.21%, while AOA has yielded a comparatively lower 10.91% annualized return.
VLU
- 1D
- 0.07%
- 1M
- 0.71%
- YTD
- 13.20%
- 6M
- 12.60%
- 1Y
- 28.80%
- 3Y*
- 20.24%
- 5Y*
- 12.54%
- 10Y*
- 14.21%
AOA
- 1D
- -0.12%
- 1M
- 1.38%
- YTD
- 9.88%
- 6M
- 9.74%
- 1Y
- 24.31%
- 3Y*
- 17.27%
- 5Y*
- 9.26%
- 10Y*
- 10.91%
VLU vs. AOA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VLU SPDR S&P 1500 Value Tilt ETF | 13.20% | 16.70% | 17.24% | 17.18% | -8.24% | 30.95% | 9.91% | 26.20% | -7.89% | 18.16% |
AOA iShares Core 80/20 Aggressive Allocation ETF | 9.88% | 19.59% | 13.55% | 18.27% | -16.23% | 15.42% | 12.82% | 22.60% | -7.86% | 20.05% |
Correlation
The correlation between VLU and AOA is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2012 | 0.67 |
The correlation between VLU and AOA shifts across timeframes, from 0.67 (all time) to 0.88 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VLU vs. AOA — Risk / Return Rank
VLU
AOA
VLU vs. AOA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 1500 Value Tilt ETF (VLU) and iShares Core 80/20 Aggressive Allocation ETF (AOA). 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.
| VLU | AOA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.41 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.56 | 2.98 | +1.59 |
| Martin ratioReturn relative to average drawdown | 18.19 | 12.96 | +5.23 |
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Drawdowns
VLU vs. AOA - Drawdown Comparison
The maximum VLU drawdown since its inception was -37.39%, which is greater than AOA's maximum drawdown of -28.38%. Use the drawdown chart below to compare losses from any high point for VLU and AOA.
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Drawdown Indicators
| VLU | AOA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.39% | -28.38% | -9.01% |
Max Drawdown (1Y)Largest decline over 1 year | -6.34% | -8.20% | +1.86% |
Max Drawdown (3Y)Largest decline over 3 years | -16.22% | -12.94% | -3.28% |
Max Drawdown (5Y)Largest decline over 5 years | -19.55% | -23.62% | +4.07% |
Max Drawdown (10Y)Largest decline over 10 years | -37.39% | -28.38% | -9.01% |
Current DrawdownCurrent decline from peak | -1.25% | -0.55% | -0.70% |
Average DrawdownAverage peak-to-trough decline | -3.73% | -4.04% | +0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 1.88% | -0.29% |
Volatility
VLU vs. AOA - Volatility Comparison
The current volatility for SPDR S&P 1500 Value Tilt ETF (VLU) is 2.94%, while iShares Core 80/20 Aggressive Allocation ETF (AOA) has a volatility of 4.13%. This indicates that VLU experiences smaller price fluctuations and is considered to be less risky than AOA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VLU | AOA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.94% | 4.13% | -1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 7.90% | 9.22% | -1.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.00% | 11.15% | -0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.39% | 13.07% | +2.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.06% | 13.58% | +4.48% |
VLU vs. AOA - Expense Ratio Comparison
VLU has a 0.12% expense ratio, which is lower than AOA's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VLU vs. AOA - Dividend Comparison
VLU's dividend yield for the trailing twelve months is around 2.05%, which matches AOA's 2.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AOA iShares Core 80/20 Aggressive Allocation ETF | 2.05% | 2.18% | 2.30% | 2.22% | 2.10% | 1.67% | 1.71% | 2.50% | 2.37% | 5.09% | 2.26% | 2.15% |
VLU SPDR S&P 1500 Value Tilt ETF | 2.05% | 1.82% | 2.00% | 2.02% | 2.16% | 1.86% | 1.98% | 2.19% | 2.57% | 1.96% | 2.14% | 6.37% |
Frequently Asked Questions
VLU and AOA have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AOA has higher volatility (4.13%) compared to VLU (2.94%). In terms of maximum drawdown, VLU dropped -37.39% vs AOA's -28.38%.
On 10-year performance, VLU leads with 14.21% vs 10.91% for AOA. On fees, VLU is cheaper at 0.12% per year. On volatility, VLU has been the lower-risk option at 2.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VLU has performed better with a 14.21% return vs 10.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VLU is cheaper with a 0.12% expense ratio, compared with 0.15% for AOA.
VLU and AOA have nearly identical dividend yields, around 2.05%.
VLU is categorized as Large Cap Value Equities, while AOA is Diversified Portfolio. VLU tracks S&P 1500 Low Valuation Tilt Index, while AOA tracks S&P Target Risk Aggressive Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.12% for VLU and 0.15% for AOA.
VLU currently has the higher Sharpe Ratio (2.63 vs 2.19), 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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