AOA vs QVOY

AOAAiShares Core 80/20 Aggressive Allocation ETF

QVOYDQ3 All-Season Active Rotation 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.

QVOY A small Michigan quant shop runs QVOY as a tactical allocation sleeve: it rotates among four baskets of funds (core equity, active equity, bonds, alternatives) instead of parking in a fixed stock-and-bond mix.

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.

QVOY The Fund seeks long-term growth of capital through active, systematic and quantitative allocation among core equity, active equity, bonds and alternatives.

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.

• QVOY Allocation is rules-driven, not a gut call: systematic models move money among the four sleeves, so the mix can drift far from a static 60/40.sec.gov
• The alternatives sleeve can reach into commodities, precious metals, currencies, REITs and MLPs, corners that most set-and-forget allocation funds skip.sec.gov
• One ticker holds the whole kit, equities, bonds and alternatives, with the rebalancing done inside the fund by its manager.sec.gov

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.

• QVOY Cost is the trade-off: 1.32% net of a waiver through March 31, 2027, gross 1.38%, above the category median. AOA is 0.15% net of a waiver through November 30, 2026; UCBG 0.06%.sec.gov
• Thinly traded next to the category's giants, so spreads can be wider and sizeable orders need more care at the screen.
• Live since December 2022, so the record is short, and an actively rotating mix can look nothing like a standard balanced benchmark in any given stretch.sec.gov

Full AOA profile⁠

Full QVOY profile⁠