AOA vs TRTY: Grades, Fees and Holdings Compared

iShares Core 80/20 Aggressive Allocation ETF

AOAANYSE Arca

Cambria Trinity ETF

TRTYACboe

Overlap

0.0%by weight

Expense ratio

AOA −0.24pt a year

AOA0.15%TRTY0.39%

Avg volume · 30D

AOA 2.3×the volume

AOA135KTRTY58.3K

5Y return · a year

AOA +2.1pt

AOA+8.1%TRTY+6.0%

AOA vs TRTY Performance

Nov 2, 2021 – Nov 2, 2026

+47.6%AOA+34.0%TRTY

Expense ratio: AOA 0.15%, better; TRTY 0.39%
Fund size: AOA $3.32B; TRTY $284M
1Y total return: AOA +10.0%; TRTY +14.9%, better
Yield (12M): AOA 2.19%; TRTY 2.79%, better
Holdings: AOA 34240; TRTY 31
Avg volume (30D): AOA 135K sh, better; TRTY 58.3K sh
NAV per share: AOA $96.21; TRTY $31.44
52W range

ETF.net Grade

Pillar letters and Scores for AOA, TRTY, with each pillar’s weight
Pillar	AOA	TRTY
Cost30% weight	A93Higher	B67
Mission25% weight	A100Higher	A85
Risk15% weight	B55	B58Higher
Tradability15% weight	A96Higher	A70
Holdings10% weight	A82Higher	B69
Durability5% weight	A98Higher	B65

Rank among Multi-Asset Allocation funds

How we build Categories ›

Same Category. AOA and TRTY 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 TRTY 6th of 37 funds in the Multi-Asset Allocation Category.

Rank 1AUCBGState Street SPDR UC Investments 90/10 Endowment Strategy Index ETFScore 95
Rank 2AAOAiShares Core 80/20 Aggressive Allocation ETFScore 88
Rank 3AIRTRiShares LifePath Retirement ETFScore 86
Rank 5AGAACambria Global Asset Allocation ETFScore 71
Rank 6ATRTYCambria Trinity ETFScore 70
Rank 7BDDVDefined Duration 5 ETFScore 67

Our read on each fund

ETF.net Research

AOAAiShares Core 80/20 Aggressive Allocation ETF

TRTYACambria Trinity 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.

TRTY One ticker, a whole portfolio. TRTY stacks roughly 30 ETFs across global stocks, bonds, real estate, commodities and currencies, adds a trend-following sleeve that can short falling assets, and charges 0.39%.

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.

TRTY TRTY seeks income and capital appreciation. It builds diversified global exposure through equity, fixed-income, real-estate, commodity, currency, and other exchange-traded vehicles, using value, momentum, and trend-oriented allocation.

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.com spglobal.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.

TRTY Spans global equity, bonds, real estate, commodities and currencies, chosen by value, momentum and trend screens instead of a fixed stock/bond split. Live since 2018.sec.gov
At 0.39%, with no waiver propping it up, it sits below the median fee for allocation ETFs, unusual for a fund-of-funds carrying trend and short positions.cambriafunds.com
Pays quarterly, and the mandate is written around income plus capital appreciation rather than growth alone.
One of the stronger implementations in its allocation peer group: what it holds lines up closely with the global all-asset mandate it advertises.

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.

TRTY The 0.39% total includes the fees of the ETFs inside it, the cost of the fund-of-funds wrapper. Plain blends like AOA (0.15% net of a waiver through November 30, 2026) run cheaper.sec.gov
Trend and momentum rules let it sidestep or short assets a 60/40 would hold, so it does not move like a plain stock-and-bond mix.sec.gov
Moderately traded rather than one of the category's busiest names, so quotes can run wider than on the giant core allocation funds.

Full AOA profile⁠

Full TRTY profile⁠

AOA vs TRTY Holdings

How AOA and TRTY differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of AOA and 0.0% of TRTY.

Level by level

Holdings0 in both0.0%
Countryby domicile71.4%
Sector11 Sectors72.6%

Sector

Sector weights in AOA and TRTY, widest gap first
Sector	More in AOAMore in TRTY	AOA	TRTY
Technology	AOA +18.1 points	31.6%	13.5%
Energy	TRTY +12.8 points	4.1%	16.9%
Real Estate	TRTY +5.6 points	2.1%	7.8%
Health Care	AOA +5.0 points	8.5%	3.5%
Communication	AOA +3.8 points	7.5%	3.7%
Materials	TRTY +3.4 points	3.9%	7.3%
Industrials	TRTY +2.5 points	11.0%	13.5%
Financials	TRTY +2.3 points	16.1%	18.4%
Utilities	TRTY +0.7 points	2.3%	3.0%
Consumer Discretionary	AOA +0.4 points	8.3%	8.0%
Consumer Staples	AOA +0.1 points	4.5%	4.4%

Country, concentration and asset class

Country by domicile

Country weights in AOA and TRTY, widest gap first
Country	More in AOAMore in TRTY	AOA	TRTY
United States	AOA +21.2 points	69.4%	48.2%
South Africa	TRTY +5.6 points	0.0%	5.6%
Thailand	TRTY +2.5 points	0.0%	2.5%
Japan	AOA +2.4 points	6.0%	3.6%
Poland	TRTY +2.2 points	0.0%	2.2%
Brazil	TRTY +2.1 points	0.0%	2.1%
Switzerland	AOA +2.0 points	2.2%	0.2%
United Kingdom	TRTY +1.6 points	3.6%	5.2%
Other countries (28)	TRTY +11.4 points	18.9%	30.3%

Outside the US: AOA 73% developed, 27% emerging. TRTY 48% developed, 52% emerging.

Concentration

Weight in the 10 largest Holdings

AOA17.3%
TRTY63.5%

Securities held

AOA34,149
TRTY30

Asset class

AOA: Multi-Asset
TRTY: Equity

Holdings

Only in AOA34,149
In both0
Only in TRTY30

Only in AOA

34,149 securities, 99.6% of AOA by weight

Apple3.50%
NVIDIA3.44%
Microsoft2.69%
Amazon.com Inc1.64%
Taiwan Semiconductor Manufacturing1.17%
Alphabet Class A1.14%
Broadcom Inc1.08%
Meta Platforms Class A0.94%
Alphabet Class C0.92%
Eli Lilly0.79%
Tesla Inc0.78%
Berkshire Hathaway Inc Class B0.70%
Micron Technology0.69%
JPMorgan Chase & Co0.62%
Advanced Micro Devices0.57%
Exxonmobil Holdings Corp0.54%
Samsung Electronics Ltd0.52%
Visa Class A0.49%
Asml Holding0.48%
Johnson & Johnson0.46%
Sk Hynix0.38%
Walmart0.38%
AbbVie0.36%
Mastercard Class A0.36%
Chevron0.32%
Costco Wholesale Corp0.31%
Palantir Technologies Class A0.29%
Cisco Systems Inc0.29%
Roche Ps Par AG0.27%
Procter & Gamble0.26%
Merck & Co Inc0.26%
UnitedHealth Group0.25%
Coca-Cola0.25%
Shell0.24%
Novartis AG0.23%
Hsbc Holdings PLC0.23%
Home Depot0.23%
Intel Corporation0.23%
Philip Morris International0.23%
Bank of America0.23%
Astrazeneca PLC0.22%
Royal Bank of Canada0.22%
Ge Aerospace0.22%
Applied Material Inc0.22%
Lam Research0.21%
Palo Alto Networks0.21%
Nestle SA0.21%
Caterpillar Inc0.20%
Tencent Holdings0.20%
Texas Instrument0.19%

Only in TRTY

30 securities, 99.9% of TRTY by weight

Cambria Foreign Shareholder Yield ETF8.61%
Cambria Global Value ETF8.14%
Cambria Emerging Shareholder Yield ETF7.67%
Cambria Value and Momentum ETF7.66%
Vanguard Intermediate-Term Treasury ETF6.15%
Cambria Chesapeake Pure Trend ETF6.02%
Cambria Tactical Yield ETF5.68%
State Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF4.90%
Cambria Micro and SmallCap Shareholder Yield ETF4.89%
Cambria Global Real Estate ETF3.74%
JPMorgan USD Emerging Markets Sovereign Bond ETF2.68%
VanEck J. P. Morgan EM Local Currency Bond ETF2.65%
Invesco DB Energy Fund2.51%
iShares Global Energy ETF2.35%
Cambria Shareholder Yield ETF2.24%
Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF2.17%
iMGP DBi Managed Futures Strategy ETF2.12%
Grizzle Growth ETF2.10%
Northern Trust Morningstar Global Upstream Natural Resources ETF2.02%
Simplify Managed Futures Strategy ETF2.02%
Invesco DB Base Metals Fund1.97%
USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund1.95%
iShares Global Tech ETF1.85%
Schwab US TIPS ETF1.82%
Vanguard Total Bond Market ETF1.81%
State Street SPDR FTSE International Government Inflation-Protected Bond ETF1.77%
Cambria LargeCap Shareholder Yield ETF1.13%
Alpha Architect 1-3 Month Box ETF0.48%
VanEck Bitcoin ETF/US0.40%
First American Treasury Obligations Fund 01/01/20400.40%

Weight gaps

AOA and TRTY share no securities.

All AOA holdings⁠All 30 TRTY 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 TRTY Cost

Overpaying TRTY vs AOA

$4,761

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

AOA 0.15%
$3,137
TRTY 0.39%
$7,898

Amount$10,000

Years30 years

Cost over time

AOA 0.15%
TRTY 0.39%
Overpaying

Year by year

Year	AOA	TRTY	Overpaying
10	$274	$705	$431
20	$1,071	$2,725	$1,654
30	$3,137	$7,898	$4,761

Expense ratio

0.15%AOA, cheaper
0.39%TRTY

AOA0.15%TRTY0.39%

0.06%1.36%

Middle half of Multi-Asset Allocation funds
Median 0.57%

AOA 3rd cheapest of 37 funds

TRTY 13th cheapest of 37 funds

AOA vs TRTY Dividends

Last 12 months to Nov 2, 2026

Yield (12M): AOA 2.19%; TRTY 2.79%, better
Payout (12M): AOA $2.11; TRTY $0.87
Last payment: AOA $0.30; TRTY $0.18
Ex-dividend: AOA Oct 2, 2026; TRTY Sep 22, 2026
Paid on: AOA Oct 7, 2026; TRTY Sep 23, 2026
Frequency: AOA Quarterly; TRTY Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

AOAQuarterly · 39 paymentsAll AOA payments⁠

TRTYQuarterly · 33 paymentsAll TRTY payments⁠

AOA vs TRTY Risk

Fall from peak · 5 years

AOA
TRTY

Risk facts

VolatilityStd dev, 3 years: AOA 9.6%TRTY 7.9%, better
Return per unit of riskSharpe ratio, 3 years: AOA 1.37, betterTRTY 1.04
Worst fallMax drawdown, 5 years: AOA −23.6%TRTY −13.7%, better
Market sensitivityBeta, 5 years: AOA 1.06TRTY 0.72; Market = 1

AOA and TRTY in the news

All news⁠

Category Review
The fund built to limit losses had the category's worst return
Sep 25, 2026AOA

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AOA vs TRTY

In short

Stated mandate

Why people hold it

Worth knowing

How AOA and TRTY differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AOA

Only in TRTY

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

The fund built to limit losses had the category's worst return

How AOA and TRTY differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AOA

Only in TRTY

Weight gaps