AOK vs BFIX: Grades, Fees and Holdings Compared

iShares Core 30/70 Conservative Allocation ETF

AOKANYSE Arca

Build Bond Innovation ETF

BFIXCNYSE Arca

Overlap

0.0%by weight

Expense ratio

AOK −0.30pt a year

AOK0.15%BFIX0.45%

Avg volume · 30D

AOK 53.3×the volume

AOK194KBFIX3.65K

3Y return · a year

AOK +2.2pt

AOK+9.8%BFIX+7.6%

AOK vs BFIX Performance

Oct 31, 2025 – Nov 2, 2026

+3.7%AOK+1.4%BFIX

Expense ratio: AOK 0.15%, better; BFIX 0.45%
Fund size: AOK $852M; BFIX $12M
1Y total return: AOK +3.7%, better; BFIX +1.4%
Yield (12M): AOK 3.50%; BFIX 3.59%, better
Holdings: AOK 34238; BFIX 118
Avg volume (30D): AOK 194K sh, better; BFIX 3.65K sh
NAV per share: AOK $40.58; BFIX $24.78
52W range

ETF.net Grade

Pillar letters and Scores for AOK, BFIX, with each pillar’s weight
Pillar	AOK	BFIX
Cost30% weight	A92Higher	B59
Mission25% weight	A100Higher	F5
Risk15% weight	B57Higher	C54
Tradability15% weight	A86Higher	D39
Holdings10% weight	A76Higher	C51
Durability5% weight	A88Higher	C47

Rank among Conservative Allocation funds

How we build Categories ›

Same Category. AOK and BFIX are both graded against the same 7 Conservative Allocation funds, so their Grades compare head to head.

Conservative Allocation⁠

Category · 7 funds

See all 7 ›

AOK ranks 1st and BFIX 7th of 7 funds in the Conservative Allocation Category.

Rank 1AAOKiShares Core 30/70 Conservative Allocation ETFScore 86
Rank 2ACGMSCapital Group U.S. Multi-Sector Income ETFScore 76
Rank 6CMFULMindful Conservative ETFScore 43
Rank 7CBFIXBuild Bond Innovation ETFScore 40

Our read on each fund

ETF.net Research

AOKAiShares Core 30/70 Conservative Allocation ETF

BFIXCBuild Bond Innovation ETF

In short

AOK One ticker, one conservative portfolio. Since 2008 AOK has tracked S&P's target-risk index built to hold 30% stocks and 70% bonds, using a handful of iShares funds underneath, and it pays monthly.

BFIX Bonds with a stock-market kicker. BFIX pairs an actively managed investment-grade bond portfolio with S&P 500 call options, chasing capital appreciation and risk mitigation in one wrapper. Distributions land monthly.

Stated mandate

AOK The fund seeks diversified exposure through equity and fixed-income ETFs to represent a conservative target-risk allocation, with greater emphasis on income and capital preservation.

BFIX The Fund seeks capital appreciation and risk mitigation through an actively managed portfolio combining investment-grade bonds and S&P 500 Index call options.

Why people hold it

AOK 0.15% net of a waiver through November 30, 2026 (0.20% gross), below the typical fee here and a fraction of active rivals like CGMS at 0.39% or XRLX at 1.20%.
The split is rules, not hunches: S&P sets 70% bonds, 30% stocks and resets the mix annually. AOK follows it closely, one of the stronger builds in its peer group.spglobal.com
One trade buys a stack of iShares blocks: core US bonds, international bonds, US and foreign stocks. No rebalancing spreadsheet, one line on the statement, monthly payouts.ishares.com
Trading since November 2008, making it one of the original target-risk ETFs, with the same rules-based mandate throughout.ishares.com

BFIX The structure is the whole idea: bonds carry the portfolio, S&P 500 call options carry the equity exposure. Upside participation comes from option premium, not from owning the stocks.
At 0.45% it sits exactly at the median for conservative multi-asset funds, and roughly a third the cost of high-fee cohort rivals XRLX and MFUL.
Actively run rather than index-tracking, so the bond sleeve and the option sleeve can be reshaped as rates and volatility shift.
Trading since February 2022, so there is real-money history behind the bonds-plus-calls design instead of a backtest.

Worth knowing

AOK Roughly 70% of the portfolio sits in bonds, so interest-rate moves, not the stock market, do most of the driving.spglobal.com
Equity exposure is held near 30% by design, so stock rallies reach this portfolio diluted. That is the trade for the income-and-preservation tilt.spglobal.com
The 0.15% is net of a waiver that ends November 30, 2026; gross is 0.20%, so the posted fee steps up if iShares does not extend it.

BFIX A small, thinly traded fund. Spreads can run wider and big orders are harder to work than in the category's largest names.
Call options expire. When the S&P 500 stays flat, the premium spent on the upside sleeve is a cost the bond side has to absorb.
Inside its conservative multi-asset cohort it lands in the bottom quartile overall, where plainer, cheaper blends such as CGMS and BLUI rate more strongly.

Full AOK profile⁠

Full BFIX profile⁠

AOK vs BFIX Holdings

How AOK and BFIX differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of AOK and 0.0% of BFIX.

Level by level

Holdings0 in both0.0%
Countryby domicile79.1%

Sector

No Sector split for BFIX.

Country, concentration and asset class

Country by domicile

Country weights in AOK and BFIX, widest gap first
Country	More in AOKMore in BFIX	AOK	BFIX
United States	BFIX +20.4 points	79.1%	99.5%
Japan	AOK +4.0 points	4.0%	0.0%
China	AOK +3.3 points	3.3%	0.0%
United Kingdom	AOK +2.9 points	2.9%	0.0%
Canada	AOK +2.8 points	2.8%	0.0%
France	AOK +2.1 points	2.1%	0.0%
Germany	AOK +2.0 points	2.0%	0.0%
Australia	AOK +1.3 points	1.3%	0.0%
Other countries (3)	AOK +2.0 points	2.5%	0.5%

Concentration

Weight in the 10 largest Holdings

AOK8.9%
BFIX59.5%

Securities held

AOK34,149
BFIX117

Asset class

AOK: Multi-Asset
BFIX: Fixed Income

Holdings

Only in AOK34,149
In both0
Only in BFIX117

Only in AOK

34,149 securities, 99.4% of AOK by weight

Apple1.31%
NVIDIA1.29%
Microsoft1.01%
Amazon.com Inc0.61%
Taiwan Semiconductor Manufacturing0.44%
Alphabet Class A0.43%
Broadcom Inc0.40%
Meta Platforms Class A0.35%
Alphabet Class C0.34%
Treasury Note 4.63% 02/15/2035 (Tnote)0.30%
Eli Lilly0.29%
Tesla Inc0.29%
Berkshire Hathaway Inc Class B0.26%
Micron Technology0.26%
Treasury Note 4.00% 11/15/2035 (Tnote)0.25%
Treasury Note 4.25% 08/15/2035 (Tnote)0.25%
JPMorgan Chase & Co0.23%
Treasury Note 1.88% 02/15/2032 (Tnote)0.23%
Umbs 15YR Tba(Reg B) 2.00% 11/17/2026 (UM15)0.22%
Treasury Note 4.13% 05/31/2031 (Tnote)0.22%
Advanced Micro Devices0.21%
Treasury Note (2OLD) 4.13% 02/15/2036 (Tnote)0.21%
Treasury Note (Old) 5.00% 09/30/2031 (Tnote)0.21%
Umbs 30YR Tba(Reg A) 5.50% 11/12/2026 (UM30)0.20%
Exxonmobil Holdings Corp0.20%
Treasury Note (Old) 4.38% 05/15/2036 (Tnote)0.20%
Treasury Note 4.25% 11/15/2034 (Tnote)0.20%
Treasury Note (2OLD) 4.13% 08/31/2028 (Tnote)0.20%
Treasury Note 4.25% 05/15/2035 (Tnote)0.20%
Treasury Note 1.25% 09/30/2028 (Tnote)0.19%
Samsung Electronics Ltd0.19%
Treasury Note 3.88% 08/15/2034 (Tnote)0.19%
Treasury Note 4.38% 12/31/2029 (Tnote)0.19%
Treasury Note 4.63% 09/30/2028 (Tnote)0.19%
Treasury Note 4.13% 06/30/2031 (Tnote)0.19%
Treasury Note (Otr) 4.63% 08/15/2036 (Tnote)0.19%
Treasury Note 1.38% 11/15/2031 (Tnote)0.19%
Treasury Note 4.00% 07/31/2029 (Tnote)0.19%
Visa Class A0.18%
Treasury Note 4.00% 02/15/2034 (Tnote)0.18%
Treasury Note 4.38% 05/15/2034 (Tnote)0.18%
Asml Holding0.18%
Treasury Note 3.50% 09/30/2029 (Tnote)0.18%
Umbs 30YR Tba(Reg A) 2.00% 11/12/2026 (UM30)0.17%
Johnson & Johnson0.17%
Treasury Note 2.75% 08/15/2032 (Tnote)0.17%
Treasury Note 3.38% 09/15/2028 (Tnote)0.16%
Treasury Note 4.50% 11/15/2033 (Tnote)0.16%
Treasury Note 4.63% 04/30/2029 (Tnote)0.16%
Treasury Note 3.50% 10/15/2028 (Tnote)0.16%

Only in BFIX

117 securities, 99.1% of BFIX by weight

United States Treasury Note/Bond 4% 05/31/202810.53%
United States Treasury Note/Bond 4.25% 07/31/20289.13%
United States Treasury Note/Bond 4.125% 06/15/20297.05%
United States Treasury Note/Bond 4.125% 06/30/20316.64%
United States Treasury Note/Bond 3.875% 03/31/20285.47%
United States Treasury Note/Bond 3.5% 02/15/20295.31%
United States Treasury Note/Bond 4.625% 04/30/20294.25%
United States Treasury Note/Bond 3.75% 04/15/20284.20%
United States Treasury Note/Bond 4.125% 07/15/20294.19%
United States Treasury Note/Bond 3.375% 02/29/20282.76%
United States Treasury Note/Bond 3.5% 01/15/20291.41%
CSX Corp 3.25% 06/01/20271.38%
Analog Devices Inc 3.45% 06/15/20271.16%
United States Treasury Note/Bond 4% 03/31/20301.08%
Huntington Ingalls Industries Inc 4.2% 05/01/20301.06%
Intercontinental Exchange Inc 4% 09/15/20271.05%
Autodesk Inc 3.5% 06/15/20271.03%
Essex Portfolio LP 3.625% 05/01/20271.00%
Diamondback Energy Inc 5.2% 04/18/20270.84%
AT&T Inc 2.3% 06/01/20270.84%
Analog Devices Inc 4.5% 06/15/20300.83%
Clorox Co/The 4.4% 05/01/20290.82%
Phillips 66 Co 4.95% 12/01/20270.77%
Energy Transfer LP 4% 10/01/20270.72%
Amphenol Corp 5.05% 04/05/20270.70%
Energy Transfer LP 4.2% 04/15/20270.68%
Berkshire Hathaway Energy Co 3.25% 04/15/20280.67%
Comcast Corp 4.15% 10/15/20280.65%
Lowe's Cos Inc 3.1% 05/03/20270.65%
Intel Corp 3.75% 03/25/20270.64%
Enterprise Products Operating LLC 4.15% 10/16/20280.64%
Nucor Corp 3.95% 05/01/20280.63%
Nucor Corp 2.7% 06/01/20300.63%
El Paso Natural Gas Co LLC 7.5% 11/15/20260.60%
Waste Management Inc 4.5% 03/15/20280.59%
Nucor Corp 4.3% 05/23/20270.59%
Hershey Co/The 2.45% 11/15/20290.58%
Phillips 66 3.9% 03/15/20280.57%
Meta Platforms Inc 4.95% 05/15/20330.57%
Dollar General Corp 5% 11/01/20320.54%
Schlumberger Investment SA 4.5% 05/15/20280.52%
Lockheed Martin Corp 4.45% 05/15/20280.52%
American Honda Finance Corp 4.9% 03/12/20270.49%
First American Government Obligations Fund 12/01/20310.48%
Newmont Corp 2.8% 10/01/20290.48%
AT&T Inc 4.25% 03/01/20270.47%
Philip Morris International Inc 5.5% 09/07/20300.45%
Blackrock Inc 3.25% 04/30/20290.43%
Meta Platforms Inc 3.5% 08/15/20270.42%
Freeport-McMoRan Inc 4.125% 03/01/20280.42%

Weight gaps

AOK and BFIX share no securities.

All AOK holdings⁠All BFIX 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.

AOK vs BFIX Cost

Overpaying BFIX vs AOK

$5,904

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

AOK 0.15%
$3,137
BFIX 0.45%
$9,041

Amount$10,000

Years30 years

Cost over time

AOK 0.15%
BFIX 0.45%
Overpaying

Year by year

Year	AOK	BFIX	Overpaying
10	$274	$812	$538
20	$1,071	$3,128	$2,057
30	$3,137	$9,041	$5,904

Expense ratio

0.15%AOK, cheaper
0.45%BFIX

AOK0.15%BFIX0.45%

0.15%1.80%

Middle half of Conservative Allocation funds
Median 0.67%

AOK cheapest of 7 funds

BFIX 3rd cheapest of 7 funds

AOK vs BFIX Dividends

Last 12 months to Nov 2, 2026

Yield (12M): AOK 3.50%; BFIX 3.59%, better
Payout (12M): AOK $1.42; BFIX $0.89
Last payment: AOK $0.13; BFIX $0.07
Ex-dividend: AOK Oct 2, 2026; BFIX Oct 29, 2026
Paid on: AOK Oct 7, 2026; BFIX Oct 30, 2026
Frequency: AOK Monthly; BFIX Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

AOKMonthly · 45 paymentsAll AOK payments⁠

BFIXMonthly · 46 paymentsAll BFIX payments⁠

AOK vs BFIX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AOK 6.2%BFIX 3.2%, better
Return per unit of riskSharpe ratio, 3 years: AOK 0.93BFIX 0.98, better
Worst fallMax drawdown, 5 years: AOK −18.9%BFIX −8.0%since Feb 2022
Market sensitivityBeta, 5 years: AOK 0.69BFIX 0.37; Market = 1

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