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AGOX vs AOA

Adaptive Alpha Opportunities ETF

AGOXFNYSE Arca

iShares Core 80/20 Aggressive Allocation ETF

AOAANYSE Arca

Overlap

Expense ratio

AOA −1.21pt a year

AGOX1.36%AOA0.15%

Avg volume · 30D

AOA 3.0×the volume

AGOX47.4KAOA143K

5Y return · a year

AOA +0.9pt

AGOX+7.0%AOA+7.9%

AGOX vs AOA Performance

Nov 9, 2021 – Nov 9, 2026

+40.1%AGOX+46.6%AOA

Nov 9, 2021 to Nov 9, 2026. AGOX +40.1%. AOA +46.6%. Use the arrow keys to read each point.−20%0%20%Nov 2021May 2024Nov 2026
Expense ratio
AGOX 1.36%
AOA 0.15%, better
Fund size
AGOX $368M
AOA $3.26B
1Y total return
AGOX +16.4%, better
AOA +11.7%
Yield (12M)
AGOX 2.71%, better
AOA 2.18%
Holdings
AGOX 120
AOA 34522
Avg volume (30D)
AGOX 47.4K sh
AOA 143K sh, better
NAV per share
AGOX $32.49
AOA $94.55
52W range

ETF.net Grade

AGOX: Cost 0, Risk 28, Mission 10, Tradability 47, Holdings 25, Durability 76. AOA: Cost 93, Risk 53, Mission 100, Tradability 96, Holdings 82, Durability 98.
Pillar letters and Scores for AGOX, AOA, with each pillar’s weight
PillarAGOXAOA
Cost30% weightF0A93Higher
Mission25% weightF10A100Higher
Risk15% weightD28C53Higher
Tradability15% weightC47A96Higher
Holdings10% weightD25A82Higher
Durability5% weightA76A98Higher

Rank among Multi-Asset Allocation funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. AGOX and AOA are both graded against the same 36 Multi-Asset Allocation funds, so their Grades compare head to head.

Multi-Asset Allocation⁠

Category · 36 funds
See all 36 ›

AOA ranks 2nd and AGOX 34th of 36 funds in the Multi-Asset Allocation Category.

  1. Rank 1AUCBGState Street SPDR UC Investments 90/10 Endowment Strategy Index ETFScore 95
  2. Rank 2AAOAiShares Core 80/20 Aggressive Allocation ETFScore 88
  3. Rank 3AIRTRiShares LifePath Retirement ETFScore 86
  4. Rank 33FLCOLOGIQ Contrarian Opportunities ETFScore 23
  5. Rank 34FAGOXAdaptive Alpha Opportunities ETFScore 20
  6. Rank 34FESBGFirst Trust Enhanced Stocks, Bonds & Gold ETFScore 20

Our read on each fund

ETF.net Research

AGOXFAdaptive Alpha Opportunities ETF

AOAAiShares Core 80/20 Aggressive Allocation ETF

In short

AGOX A go-anywhere allocator that buys other funds: global stocks, investment-grade bonds, alternatives. It ran as a mutual fund from 2012 before moving into an ETF shell in 2021, so the history predates the ticker.

AOA A whole portfolio in one ticker. Since 2008, AOA has held a fixed 80/20 mix of global stock and bond index funds, with its index rebalancing the split back to target twice a year. No spreadsheet required.

Stated mandate

AGOX The Fund seeks capital appreciation. It pursues this objective through actively managed allocations among ETFs holding equity and fixed-income securities, with possible alternative-investment exposure, using technical and economic fundamental research.

AOA The Fund seeks to follow an index of equity and fixed-income ETFs designed for an aggressive target-risk allocation. It offers a diversified portfolio emphasizing growth and relatively higher equity exposure.

Why people hold it

  • AGOX Truly unconstrained: one ticket buys funds holding stocks of any size from US, developed and emerging markets, plus investment-grade bonds of any maturity.sec.gov
  • The strategy predates the wrapper. It absorbed its predecessor mutual fund in a tax-free reorganization on May 7, 2021, carrying a record that starts in 2012.ncfunds.comsec.gov
  • A diversified 1940 Act fund spread across roughly 140 positions, mostly other ETFs, with room for alternatives, steered by technical and fundamental research.ncfunds.com
  • AOA One trade buys a handful of underlying iShares index funds spanning global stocks and bonds, with the 80/20 split set by index rule rather than a manager's judgment call.ishares.comspglobal.com
  • Costs 0.15% net of a waiver through November 30, 2026 (0.19% gross), below the median fee in its allocation category.
  • Live since November 2008 and now a multi-billion-dollar fund, it has run the same target-risk mandate through the financial crisis and everything after.ishares.com
  • Among the strongest implementations in a crowded field of allocation funds, and it pays out quarterly.

Worth knowing

  • AGOX Fee is 1.36%, with no waiver, above this category's median. Index-built peers UCBG (0.06%) and AOA (0.15% net of a waiver through November 30, 2026) sit far below.
  • Thinly traded, so spreads can run wider than the category's heavyweights, and distributions arrive once or twice a year rather than monthly.
  • Results ride on one team's allocation calls, and the mix can look nothing like a static 60/40 at any given moment.sec.gov
  • AOA Eighty percent equity means it rides global stock swings closely. The 20% bond sleeve softens drawdowns rather than stopping them.spglobal.com
  • That 0.15% is net of a contractual waiver through November 30, 2026. The gross 0.19% is the figure that applies if the waiver is not renewed.
  • Cheaper one-ticket rivals now exist: UCBG at 0.06% and IRTR at 0.08%. IRTR also glides its risk down over time, while AOA's 80/20 stays put.

Full AGOX profile⁠

Full AOA profile⁠

AGOX vs AOA Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

AGOX vs AOA Cost

Overpaying AGOX vs AOA

$21,123

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • AGOX 1.36%

    $24,260

  • AOA 0.15%

    $3,137

$10,000
30 years

Cost over time

  • AGOX 1.36%
  • AOA 0.15%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530AGOX $24,260AOA $3,137

Year by year

YearAGOXAOAOverpaying
10$2,362$274$2,088
20$8,735$1,071$7,664
30$24,260$3,137$21,123

Expense ratio

  • 1.36%AGOX
  • 0.15%AOA, cheaper
  • Middle half of Multi-Asset Allocation funds
  • Median 0.61%

AOA 3rd cheapest of 36 funds

AGOX 36th cheapest of 36 funds

AGOX vs AOA Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
AGOX 2.71%, better
AOA 2.18%
Payout (12M)
AGOX $0.92
AOA $2.11
Last payment
AGOX $0.92
AOA $0.30
Ex-dividend
AGOX Dec 18, 2025
AOA Oct 2, 2026
Paid on
AGOX Dec 19, 2025
AOA Oct 7, 2026
Frequency
AGOX Annual
AOA Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

AGOXAnnual · 7 paymentsAll AGOX payments⁠
One bar per payment. 7 payments from 2017 to 2026 YTD. Nov 4, 2021 $1.39; Dec 20, 2021 $0.18; Dec 30, 2021 $0.05; Dec 29, 2022 $0.04; Dec 28, 2023 $0.07; Dec 20, 2024 $1.07; Dec 18, 2025 $0.92. Use the arrow keys to read each point.$0$22017202020232026YTD
AOAQuarterly · 39 paymentsAll AOA payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Apr 4, 2017 $0.13; Jul 6, 2017 $0.40; Oct 3, 2017 $0.16; Dec 28, 2017 $2.06; Apr 3, 2018 $0.15; Jul 3, 2018 $0.48; Oct 2, 2018 $0.17; Dec 28, 2018 $0.35; Apr 2, 2019 $0.18; Jul 2, 2019 $0.55; Oct 2, 2019 $0.18; Dec 24, 2019 $0.54; Apr 2, 2020 $0.16; Jul 2, 2020 $0.36; Oct 2, 2020 $0.16; Dec 24, 2020 $0.42; Apr 5, 2021 $0.11; Jul 2, 2021 $0.38; Oct 4, 2021 $0.15; Dec 23, 2021 $0.57; Apr 4, 2022 $0.17; Jul 5, 2022 $0.51; Oct 4, 2022 $0.20; Dec 23, 2022 $0.38; Apr 4, 2023 $0.18; Jul 5, 2023 $0.50; Oct 3, 2023 $0.22; Dec 22, 2023 $0.63; Apr 2, 2024 $0.21; Jul 2, 2024 $0.55; Oct 2, 2024 $0.27; Dec 20, 2024 $0.74; Apr 2, 2025 $0.22; Jul 2, 2025 $0.62; Oct 2, 2025 $0.25; Dec 23, 2025 $0.86; Apr 2, 2026 $0.28; Jul 2, 2026 $0.68; Oct 2, 2026 $0.30. Use the arrow keys to read each point.$0$22017202020232026YTD

AGOX vs AOA Risk

Fall from peak · 5 years

  • AGOX
  • AOA
Nov 9, 2021 to Nov 9, 2026. Worst fall: AGOX −26.9% · Sep 2022. Use the arrow keys to read each point.−25%−20%−15%−10%−5%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
AGOX 19.0%AOA 9.6%, better
Return per unit of riskSharpe ratio, 3 years
AGOX 0.69AOA 1.37, better
Worst fallMax drawdown, 5 years
AGOX −26.9%AOA −23.6%, better
Market sensitivityBeta, 5 years
AGOX 1.50AOA 1.06

AGOX and AOA in the news

All news⁠

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