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AOA vs LQ

iShares Core 80/20 Aggressive Allocation ETF

AOAANYSE Arca

Simplify Tax Aware Alternatives ETF

LQCNasdaq

Overlap

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

AOA0.15%LQ0.15%

Avg volume · 30D

AOA 215.6×the volume

AOA135KLQ624

AOA vs LQ Performance

Jul 31, 2026 – Oct 30, 2026

−0.3%AOA+1.9%LQ

Jul 31, 2026 to Oct 30, 2026. AOA −0.3%. LQ +1.9%. Use the arrow keys to read each point.−1%1%3%Jul 2026Sep 2026Oct 2026
Expense ratio
AOA 0.15%
LQ 0.15%
Fund size
AOA $3.32B
LQ $2M
1Y total return
AOA +10.1%
LQ No data
Yield (12M)
AOA 2.19%
LQ No data
Holdings
AOA 34240
LQ 1
Avg volume (30D)
AOA 135K sh, better
LQ 624 sh
NAV per share
AOA $96.21
LQ $23.94
52W range

ETF.net Grade

AOA: Cost 93, Risk 55, Mission 100, Tradability 96, Holdings 81, Durability 98. LQ: Cost 93, Risk 48, Mission not scored, Tradability 25, Holdings not scored, Durability 36.
Pillar letters and Scores for AOA, LQ, with each pillar’s weight
PillarAOALQ
Cost30% weightA93A93
Mission25% weightA100Not scored
Risk15% weightB55HigherC48
Tradability15% weightA96HigherD25
Holdings10% weightA81Not scored
Durability5% weightA98HigherD36

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 LQ 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 LQ 26th 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 25CHECAHedgeye Capital Allocation ETFScore 41
  5. Rank 26CLQSimplify Tax Aware Alternatives ETFScore 40
  6. Rank 26CMHIGMilliman Healthcare Inflation Guard ETFScore 40

Our read on each fund

ETF.net Research

AOAAiShares Core 80/20 Aggressive Allocation ETF

LQCSimplify Tax Aware Alternatives 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.

LQ Simplify's alternatives lineup (managed futures, commodities, currencies, energy, tail hedges) in one ticker, held through year-plus swaps so gains at expiry can qualify as long-term capital gains. The tax plumbing is the product.

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.

LQ The Fund seeks long-term capital appreciation through a diversified, actively managed portfolio of alternative strategies designed to diversify traditional stock-and-bond portfolios and reduce the tax impact of investing.

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.
  • LQ 0.25% a year for an actively managed alternatives book, well under the typical fund in the multi-asset allocation group.sec.gov
  • Exposure runs through swaps on Simplify ETFs with tenors of at least one year, so gains at expiration are eligible for long-term capital gains treatment.simplify.us
  • One holding covers managed futures, commodities, currencies, energy infrastructure and tail-risk hedges, instead of stacking separate strategy tickers.simplify.ussimplify.us 2
  • Mandate is the classic diversifier job: strategies chosen for low correlation to stocks and bonds, run globally and actively.simplify.us

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.
  • LQ Launched in 2026 with a small asset base and light trading, so there is little live history to judge and quotes can be wide.
  • Results ride on Simplify's own in-house strategies, and swap-based exposure carries counterparty risk that directly held positions do not.simplify.us
  • Payouts come annually or semiannually, and the fund notes the final tax character of a distribution is set on Form 1099-DIV, not at payment.simplify.us

Full AOA profile⁠

Full LQ profile⁠

AOA vs LQ 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 LQ Cost

Same expense ratio

$3,137

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

  • AOA 0.15%

    $3,137

  • LQ 0.15%

    $3,137

$10,000
30 years

Cost over time

  • AOA 0.15%
  • LQ 0.15%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K$4K051015202530AOA $3,137LQ $3,137

Year by year

YearAOALQ
10$274$274
20$1,071$1,071
30$3,137$3,137

Expense ratio

  • 0.15%AOA
  • 0.15%LQ
  • Middle half of Multi-Asset Allocation funds
  • Median 0.57%

AOA 3rd cheapest of 37 funds

LQ 3rd cheapest of 37 funds

AOA vs LQ Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
AOA 2.19%
LQ No data
Payout (12M)
AOA $2.11
LQ No data
Last payment
AOA $0.30
LQ $0.25
Ex-dividend
AOA Oct 2, 2026
LQ Sep 25, 2026
Paid on
AOA Oct 7, 2026
LQ Sep 30, 2026
Frequency
AOA Quarterly
LQ 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
LQQuarterly · 2 paymentsAll LQ payments⁠
One bar per payment. 2 payments from 2017 to 2026 YTD. Jun 25, 2026 $0.05; Sep 25, 2026 $0.25. Use the arrow keys to read each point.$0$22017202020232026YTD

AOA vs LQ 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%LQ No data
Return per unit of riskSharpe ratio, 3 years
AOA 1.37LQ No data
Worst fallMax drawdown, 5 years
AOA −23.6%LQ No data
Market sensitivityBeta, 5 years
AOA 1.06LQ 1.29

AOA and LQ in the news

All news⁠

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