VLU vs. AOA

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR S&P 1500 Value Tilt ETF (VLU) and iShares Core Aggressive Allocation ETF (AOA).

VLU and AOA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VLU is a passively managed fund by State Street that tracks the performance of the S&P 1500 Low Valuation Tilt Index. It was launched on Oct 24, 2012. AOA is a passively managed fund by iShares that tracks the performance of the S&P Target Risk Aggressive Index. It was launched on Nov 4, 2008. Both VLU and AOA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VLU vs. AOA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P 1500 Value Tilt ETF (VLU) and iShares Core Aggressive Allocation ETF (AOA). The values are adjusted to include any dividend payments, if applicable.

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	3.13%	16.70%	17.24%	17.18%	-8.24%	30.95%	9.91%	26.20%	-7.89%	18.16%
AOA iShares Core Aggressive Allocation ETF	-0.59%	19.59%	13.55%	18.27%	-16.23%	15.42%	12.82%	22.60%	-7.86%	20.05%

Returns By Period

In the year-to-date period, VLU achieves a 3.13% return, which is significantly higher than AOA's -0.59% return. Over the past 10 years, VLU has outperformed AOA with an annualized return of 13.25%, while AOA has yielded a comparatively lower 9.69% annualized return.

VLU

• 1D: 0.62%
• 1M: -3.19%
• YTD: 3.13%
• 6M: 6.70%
• 1Y: 19.92%
• 3Y*: 17.41%
• 5Y*: 11.36%
• 10Y*: 13.25%

AOA

• 1D: 0.61%
• 1M: -4.11%
• YTD: -0.59%
• 6M: 1.92%
• 1Y: 18.69%
• 3Y*: 14.47%
• 5Y*: 7.97%
• 10Y*: 9.69%

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

VLU vs. AOA - Expense Ratio Comparison

VLU has a 0.12% expense ratio, which is lower than AOA's 0.25% 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%.

AOA

iShares Core Aggressive Allocation ETF

VLU

SPDR S&P 1500 Value Tilt ETF

Return for Risk

VLU vs. AOA — Risk / Return Rank

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

VLU

VLU Risk / Return Rank: 66
VLU Sharpe Ratio Rank: 65
VLU Sortino Ratio Rank: 66
VLU Omega Ratio Rank: 69
VLU Calmar Ratio Rank: 60
VLU Martin Ratio Rank: 70

AOA

AOA Risk / Return Rank: 75
AOA Sharpe Ratio Rank: 73
AOA Sortino Ratio Rank: 76
AOA Omega Ratio Rank: 75
AOA Calmar Ratio Rank: 74
AOA Martin Ratio Rank: 79

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.

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 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.

	VLU	AOA	Difference
Sharpe ratio Return per unit of total volatility	1.19	1.35	-0.16
Sortino ratio Return per unit of downside risk	1.72	1.97	-0.24
Omega ratio Gain probability vs. loss probability	1.26	1.29	-0.02
Calmar ratio Return relative to maximum drawdown	1.61	1.98	-0.38
Martin ratio Return relative to average drawdown	7.62	8.82	-1.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VLU vs. AOA - Sharpe Ratio Comparison

The current VLU Sharpe Ratio is 1.19, which is comparable to the AOA Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of VLU and AOA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VLU	AOA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	1.35	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	0.62	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.72	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.65	+0.12

Correlation

The correlation between VLU and AOA is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VLU vs. AOA - Dividend Comparison

VLU's dividend yield for the trailing twelve months is around 1.77%, less than AOA's 2.19% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VLU SPDR S&P 1500 Value Tilt ETF	1.77%	1.82%	2.00%	2.02%	2.16%	1.86%	1.98%	2.19%	2.57%	1.96%	2.14%	6.37%
AOA iShares Core Aggressive Allocation ETF	2.19%	2.18%	2.30%	2.22%	2.10%	1.67%	1.71%	2.50%	2.37%	5.09%	2.26%	2.15%

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.

Drawdown Indicators

	VLU	AOA	Difference
Max Drawdown Largest peak-to-trough decline	-37.39%	-28.38%	-9.01%
Max Drawdown (1Y) Largest decline over 1 year	-12.40%	-9.62%	-2.78%
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 Drawdown Current decline from peak	-3.84%	-5.18%	+1.34%
Average Drawdown Average peak-to-trough decline	-3.78%	-4.08%	+0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	2.16%	+0.45%

Volatility

VLU vs. AOA - Volatility Comparison

The current volatility for SPDR S&P 1500 Value Tilt ETF (VLU) is 4.26%, while iShares Core Aggressive Allocation ETF (AOA) has a volatility of 5.28%. 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.

Volatility by Period

	VLU	AOA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	5.28%	-1.02%
Volatility (6M) Calculated over the trailing 6-month period	8.63%	8.34%	+0.29%
Volatility (1Y) Calculated over the trailing 1-year period	16.76%	13.87%	+2.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.46%	12.92%	+2.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.09%	13.51%	+4.58%