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AOA vs ESBG

iShares Core 80/20 Aggressive Allocation ETF

AOAANYSE Arca

First Trust Enhanced Stocks, Bonds & Gold ETF

ESBGFNYSE Arca

Overlap

Expense ratio

AOA −0.80pt a year

AOA0.15%ESBG0.95%

Avg volume · 30D

AOA 168.4×the volume

AOA135KESBG799

AOA vs ESBG Performance

Dec 31, 2025 – Oct 30, 2026

+8.8%AOA−6.7%ESBG

Dec 31, 2025 to Oct 30, 2026. AOA +8.8%. ESBG −6.7%. Use the arrow keys to read each point.0%5%15%Dec 2025Jun 2026Oct 2026
Expense ratio
AOA 0.15%, better
ESBG 0.95%
Fund size
AOA $3.32B
ESBG $2M
1Y total return
AOA +10.1%
ESBG No data
Yield (12M)
AOA 2.19%
ESBG No data
Holdings
AOA 34240
ESBG 4
Avg volume (30D)
AOA 135K sh, better
ESBG 799 sh
NAV per share
AOA $96.21
ESBG $19.57
52W range

ETF.net Grade

AOA: Cost 93, Risk 55, Mission 100, Tradability 96, Holdings 81, Durability 98. ESBG: Cost 18, Risk 10, Mission 28, Tradability 8, Holdings 8, Durability 28.
Pillar letters and Scores for AOA, ESBG, with each pillar’s weight
PillarAOAESBG
Cost30% weightA93HigherF18
Mission25% weightA100HigherD28
Risk15% weightB55HigherF10
Tradability15% weightA96HigherF8
Holdings10% weightA81HigherF8
Durability5% weightA98HigherD28

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. AOA and ESBG are both graded against the same 37 Multi-Asset Allocation funds, so their Grades compare head to head.

Multi-Asset Allocation⁠

Category · 37 funds
See all 37 ›

AOA ranks 2nd and ESBG 36th of 37 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 35DLCOLOGIQ Contrarian Opportunities ETFScore 25
  5. Rank 36FESBGFirst Trust Enhanced Stocks, Bonds & Gold ETFScore 17
  6. Rank 36FGLDBIDX Alternative FIAT ETFScore 17

Our read on each fund

ETF.net Research

AOAAiShares Core 80/20 Aggressive Allocation ETF

ESBGFFirst Trust Enhanced Stocks, Bonds & Gold ETF

In short

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.

ESBG Stocks, bonds and gold in one actively managed wrapper. ESBG holds U.S. Treasuries and cash as collateral, then layers on futures for S&P 500, intermediate Treasury and gold exposure. The classic diversified trio, stacked rather than sliced.

Stated mandate

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.

ESBG The Fund seeks long-term total return through active management of U.S. Treasuries, cash and cash equivalents, and futures providing exposure to the S&P 500 Index, intermediate U.S. Treasuries, and gold.

Why people hold it

  • 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.
  • ESBG One ticket to the three-legged portfolio: futures deliver S&P 500, intermediate Treasury and gold exposure together, with Treasuries and cash sitting underneath as the collateral.ftportfolios.com
  • Actively managed rather than locked to a fixed split, so the manager can move among the stock, bond and gold sleeves and the Treasury and cash base.ftportfolios.com
  • Gold is a full sleeve, not a garnish. The strongest capital-efficient peers stack equities with one other asset (bonds in NTSX, gold in GDE); this one runs all three.
  • Backed by First Trust, a long-established ETF issuer, and it distributes quarterly.

Worth knowing

  • 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.
  • ESBG At 0.95%, it charges more than the typical allocation fund and far more than capital-efficient peers NTSX and GDE at 0.20%. Active discretion is the thing you're paying up for.
  • Launched in late 2025 as a small fund, so there's little history behind the manager's allocation calls and trading is lighter than the long-running names in the category.
  • The three sleeves are futures positions on a Treasury and cash base, so results depend on the collateral as well as the markets, and stocks, bonds and gold can fall together.ftportfolios.com

Full AOA profile⁠

Full ESBG profile⁠

AOA vs ESBG 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.

AOA vs ESBG Cost

Overpaying ESBG vs AOA

$14,732

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

  • AOA 0.15%

    $3,137

  • ESBG 0.95%

    $17,869

$10,000
30 years

Cost over time

  • AOA 0.15%
  • ESBG 0.95%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530ESBG $17,869AOA $3,137

Year by year

YearAOAESBGOverpaying
10$274$1,678$1,404
20$1,071$6,322$5,251
30$3,137$17,869$14,732

Expense ratio

  • 0.15%AOA, cheaper
  • 0.95%ESBG
  • Middle half of Multi-Asset Allocation funds
  • Median 0.57%

AOA 3rd cheapest of 37 funds

ESBG 30th cheapest of 37 funds

AOA vs ESBG Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AOA 2.19%
ESBG No data
Payout (12M)
AOA $2.11
ESBG No data
Last payment
AOA $0.30
ESBG $0.09
Ex-dividend
AOA Oct 2, 2026
ESBG Sep 24, 2026
Paid on
AOA Oct 7, 2026
ESBG Sep 30, 2026
Frequency
AOA Quarterly
ESBG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

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
ESBGQuarterly · 4 paymentsAll ESBG payments⁠
One bar per payment. 4 payments from 2017 to 2026 YTD. Dec 16, 2025 $0.05; Mar 26, 2026 $0.08; Jun 25, 2026 $0.10; Sep 24, 2026 $0.09. Use the arrow keys to read each point.$0$22017202020232026YTD

AOA vs ESBG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
AOA 9.6%ESBG No data
Return per unit of riskSharpe ratio, 3 years
AOA 1.37ESBG No data
Worst fallMax drawdown, 5 years
AOA −23.6%ESBG No data
Market sensitivityBeta, 5 years
AOA 1.06ESBG 1.06Same figure. Both funds show the same value, so neither comes out ahead.

AOA and ESBG in the news

All news⁠

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