AOK vs CGMS: Grades, Fees and Holdings Compared

iShares Core 30/70 Conservative Allocation ETF

AOKANYSE Arca

Capital Group U.S. Multi-Sector Income ETF

CGMSANYSE Arca

Overlap

0.1%by weight

Expense ratio

AOK −0.24pt a year

AOK0.15%CGMS0.39%

Avg volume · 30D

CGMS 6.2×the volume

AOK194KCGMS1.2M

3Y return · a year

AOK +2.5pt

AOK+10.5%CGMS+8.0%

AOK vs CGMS Performance

Oct 31, 2025 – Oct 30, 2026

+3.8%AOK+1.6%CGMS

Expense ratio: AOK 0.15%, better; CGMS 0.39%
Fund size: AOK $852M; CGMS $5.61B
1Y total return: AOK +3.8%, better; CGMS +1.6%
Yield (12M): AOK 3.50%; CGMS 6.69%, better
Holdings: AOK 34238; CGMS 1548
Avg volume (30D): AOK 194K sh; CGMS 1.2M sh, better
NAV per share: AOK $40.58; CGMS $26.40
52W range

ETF.net Grade

Pillar letters and Scores for AOK, CGMS, with each pillar’s weight
Pillar	AOK	CGMS
Cost30% weight	A92Higher	A75
Mission25% weight	A100Higher	A82
Risk15% weight	B57	B68Higher
Tradability15% weight	A86Higher	A74
Holdings10% weight	A76	A84Higher
Durability5% weight	A88Higher	A72

Rank among Conservative Allocation funds

How we build Categories ›

Same Category. AOK and CGMS 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 CGMS 2nd 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 3CBLUIBluemonte Diversified Income ETFScore 52

Our read on each fund

ETF.net Research

AOKAiShares Core 30/70 Conservative Allocation ETF

CGMSACapital Group U.S. Multi-Sector Income 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.

CGMS Capital Group's bond desk in ETF form: one ticket across the income-producing corners of the US market, roughly 1,200 positions deep, paying monthly. Income first, capital appreciation second.

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.

CGMS The fund seeks a high level of current income, with capital appreciation as a secondary objective.

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

CGMS Charges 0.39% a year, below the median for its conservative-income peer group.
Spread across roughly 1,200 holdings, so no single issuer carries the portfolio.
Pays monthly, and with multi-billion-dollar scale and steady trading it's one of the easier funds in its cohort to move in and out of.
Sits among the strongest implementations in its small conservative-income peer group.

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.

CGMS Income is the mandate: the fund seeks a high level of current income, with capital appreciation only a secondary objective.capitalgroup.com
Cheaper doors exist in the cohort. BLUI runs 0.25%.
Launched in late 2022, so the track record is short next to long-running multi-sector bond funds.

Full AOK profile⁠

Full CGMS profile⁠

AOK vs CGMS Holdings

How AOK and CGMS differ

Overlap by weight

0.1%

Shared holdings make up 0.1% of CGMS and 0.1% of AOK.

Level by level

Holdings2 in both0.1%
Sector11 Sectors13.2%
Countryby domicile82.5%

Sector

Sector weights in AOK and CGMS, widest gap first
Sector	More in AOKMore in CGMS	AOK	CGMS
Real Estate	CGMS +78.9 points	2.1%	81.1%
Technology	AOK +24.6 points	31.6%	7.0%
Financials	AOK +16.1 points	16.1%	0.0%
Industrials	AOK +11.0 points	11.0%	0.0%
Health Care	AOK +8.5 points	8.5%	0.0%
Consumer Discretionary	AOK +8.4 points	8.3%	0.0%
Energy	CGMS +7.9 points	4.1%	12.0%
Communication	AOK +7.5 points	7.5%	0.0%
Consumer Staples	AOK +4.5 points	4.5%	0.0%
Materials	AOK +3.9 points	3.9%	0.0%
Utilities	AOK +2.3 points	2.3%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in AOK and CGMS, widest gap first
Country	More in AOKMore in CGMS	AOK	CGMS
United States	CGMS +8.5 points	79.1%	87.6%
Cayman Islands	CGMS +3.4 points	0.0%	3.4%
China	AOK +3.3 points	3.3%	0.0%
Japan	AOK +3.0 points	4.0%	1.0%
Canada	AOK +2.2 points	2.8%	0.6%
United Kingdom	AOK +2.0 points	2.9%	0.9%
Germany	AOK +1.9 points	2.0%	0.1%
Luxembourg	CGMS +1.9 points	0.0%	1.9%
Other countries (22)	AOK +1.2 points	5.9%	4.7%

Concentration

Weight in the 10 largest Holdings

AOK8.9%
CGMS8.6%

Securities held

AOK34,149
CGMS1,535

Asset class

AOK: Multi-Asset
CGMS: Fixed Income

Holdings

Only in AOK34,147
In both2
Only in CGMS1,533

Only in AOK

34,147 securities, 99.3% 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 CGMS

1,533 securities, 95.8% of CGMS by weight

Us Treasury N/B 05/46 50.94%
Us Treasury N/B 09/28 4.750.59%
Rd Michigan Prop Owner I Sr Secured 144A 03/45 7.50.55%
Bluemountain Clo Ltd Bluem 2018 23A A1R2 144A0.54%
Waymo Llc Unitranche Term Loan0.49%
Switch Abs Issuer, Llc Swtch 2026 3A A21 144A0.42%
Carlyle Global Market Strategi Cgms 2018 4A A1R2 144A0.41%
Bank of America Corp Sr Unsecured 02/37 Var0.40%
Meta Platforms Inc Sr Unsecured 08/52 4.450.40%
Peraton Corp Term Loan B0.38%
Cloud Software Grp Llc Secured 144A 09/29 90.37%
Avant Credit Card Master Trust Avcct 2026 1A A 144A0.35%
Connect Finco Sarl/Conne Sr Secured 144A 09/29 90.35%
Charter Comm Opt Llc/Cap Sr Secured 04/51 3.70.34%
Carlyle Global Market Strategi Cgms 2018 4A BR2 144A0.33%
Mpt Oper Partnersp/Finl Sr Secured 144A 02/32 8.50.32%
Jefferies Fin Group Inc Sr Unsecured 02/36 5.50.31%
Mars Inc Sr Unsecured 144A 03/35 5.20.31%
Compass Group Diversifie Company Guar 144A 04/29 5.250.31%
Ares Strategic Income Fu Sr Unsecured 04/31 5.550.31%
Ford Motor Credit Co Llc Sr Unsecured 02/35 6.50.31%
Kennedy Wilson Inc Company Guar 144A 06/31 70.31%
Navient Corp Sr Unsecured 08/33 5.6250.30%
Transdigm Inc Company Guar 144A 05/33 6.3750.30%
Space Exploration Tech Sr Unsecured 144A 07/36 5.8750.30%
Centene Corp Sr Unsecured 03/31 2.50.30%
Jane Street Grp/Jsg Fin Sr Secured 144A 08/31 7.2940.29%
Nissan Motor Co Sr Unsecured 144A 07/35 8.1250.29%
Amsr Trust Amsr 2026 SFR3 A 144A0.29%
Snap Inc Company Guar 144A 03/33 6.8750.29%
Coinbase Global Inc Company Guar 144A 10/31 3.6250.28%
Freddie Mac Stacr Stacr 2020 DNA5 B2 144A0.28%
Coty/Hfc Prestige/Int Us Company Guar 144A 01/31 5.60.28%
Sirius Xm Radio Llc Company Guar 144A 09/31 3.8750.27%
Jane Street Grp/Jsg Fin Sr Secured 144A 08/33 7.6860.27%
Gray Media Inc Secured 144A 07/32 9.6250.27%
Service Properties Trust Sr Unsecured 02/30 4.3750.27%
B+g Foods Inc Sr Secured 144A 09/28 80.27%
Equipmentshare Eqs 2025 2M A 144A0.27%
Nexstar Media Inc Sr Secured 144A 09/33 6.50.26%
Onemain Finance Corp Company Guar 09/32 7.1250.26%
Blue Owl Credit Income Sr Unsecured 144A 10/31 6.550.26%
Bx Trust Bx 2026 VLT9 B 144A0.26%
Ion Plat Fin Us/Sarl Sr Secured 144A 05/29 8.750.25%
Lyb Int Finance Iii Company Guar 01/36 5.8750.25%
Bx Trust Bx 2026 VLT10 B 144A0.25%
Ggp Trust Ggp 2026 BRK3 A 144A0.25%
Celanese Us Holdings Llc Company Guar 11/33 7.70.24%
Oracle Corp Sr Unsecured 02/56 6.70.24%
JPMorgan Chase & Co Subordinated 07/41 Var0.24%

Weight gaps

All 2 Holdings in both funds, largest gap first.

Holding weights in AOK and CGMS, widest gap first
Holding	More in AOKMore in CGMS	AOK	CGMS
OracleORCL	CGMS +0.05 points	0.06%	0.11%
Diebold Nixdorf IncDBD	Same weight	<0.01%	<0.01%

All AOK holdings⁠All 1,246 CGMS 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 CGMS Cost

Overpaying CGMS vs AOK

$4,761

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

AOK 0.15%
$3,137
CGMS 0.39%
$7,898

Amount$10,000

Years30 years

Cost over time

AOK 0.15%
CGMS 0.39%
Overpaying

Year by year

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

Expense ratio

0.15%AOK, cheaper
0.39%CGMS

AOK0.15%CGMS0.39%

0.15%1.80%

Middle half of Conservative Allocation funds
Median 0.67%

AOK cheapest of 7 funds

CGMS 2nd cheapest of 7 funds

AOK vs CGMS Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AOK 3.50%; CGMS 6.69%, better
Payout (12M): AOK $1.42; CGMS $1.77
Last payment: AOK $0.13; CGMS $0.12
Ex-dividend: AOK Oct 2, 2026; CGMS Oct 30, 2026
Paid on: AOK Oct 7, 2026; CGMS Pays Nov 2, 2026
Frequency: AOK Monthly; CGMS Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

AOKMonthly · 45 paymentsAll AOK payments⁠

CGMSMonthly · 46 paymentsAll CGMS payments⁠

AOK vs CGMS 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%CGMS 4.7%, better
Return per unit of riskSharpe ratio, 3 years: AOK 0.93, betterCGMS 0.71
Worst fallMax drawdown, 5 years: AOK −18.9%CGMS −4.1%since Oct 2022
Market sensitivityBeta, 5 years: AOK 0.69CGMS 0.72; Market = 1

AOK and CGMS in the news

All news⁠

New ETFs
XFUNDS Technology Income ETF is 99.1% the Vanguard Information Technology ETF
Oct 12, 2026CGMS
ETF Filings
Franklin to liquidate DVAL, down to $71 million from $181 million at its 2022 conversion
Sep 8, 2026CGMS

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AOK vs CGMS

In short

Stated mandate

Why people hold it

Worth knowing

How AOK and CGMS differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AOK

Only in CGMS

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

XFUNDS Technology Income ETF is 99.1% the Vanguard Information Technology ETF

Franklin to liquidate DVAL, down to $71 million from $181 million at its 2022 conversion

How AOK and CGMS differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in AOK

Only in CGMS

Weight gaps