AOR vs CGBL: Grades, Fees and Holdings Compared

iShares Core 60/40 Balanced Allocation ETF

AORANYSE Arca

Capital Group Core Balanced ETF

CGBLCNYSE Arca

Overlap

14.7%by weight

Expense ratio

AOR −0.18pt a year

AOR0.15%CGBL0.33%

Avg volume · 30D

CGBL 3.3×the volume

AOR433KCGBL1.43M

3Y return · a year

CGBL +1.5pt

AOR+15.3%CGBL+16.8%

AOR vs CGBL Performance

Oct 31, 2025 – Oct 30, 2026

+7.6%AOR+7.5%CGBL

Expense ratio: AOR 0.15%, better; CGBL 0.33%
Fund size: AOR $3.89B; CGBL $7.97B
1Y total return: AOR +7.6%, better; CGBL +7.5%
Yield (12M): AOR 2.66%, better; CGBL 1.96%
Holdings: AOR 34238; CGBL 78
Avg volume (30D): AOR 433K sh; CGBL 1.43M sh, better
NAV per share: AOR $68.12; CGBL $36.68
52W range

ETF.net Grade

Pillar letters and Scores for AOR, CGBL, with each pillar’s weight
Pillar	AOR	CGBL
Cost30% weight	A81Higher	D28
Mission25% weight	A100Higher	B69
Risk15% weight	C51Higher	D36
Tradability15% weight	A74Higher	B69
Holdings10% weight	A100Higher	A91
Durability5% weight	A82Higher	B67

Rank among Balanced Allocation funds

How we build Categories ›

Same Category. AOR and CGBL are both graded against the same 5 Balanced Allocation funds, so their Grades compare head to head.

Balanced Allocation⁠

Category · 5 funds

See all 5 ›

AOR ranks 1st and CGBL 4th of 5 funds in the Balanced Allocation Category.

Rank 1AAORiShares Core 60/40 Balanced Allocation ETFScore 82
Rank 2AAOMiShares Core 40/60 Moderate Allocation ETFScore 81
Rank 3BAVMAAvantis Moderate Allocation ETFScore 57
Rank 4CCGBLCapital Group Core Balanced ETFScore 53
Rank 5CDDXDefined Duration 10 ETFScore 42

Our read on each fund

ETF.net Research

AORAiShares Core 60/40 Balanced Allocation ETF

CGBLCCapital Group Core Balanced ETF

In short

AOR One ticker, one whole 60/40 portfolio: a short list of iShares stock and bond ETFs, live since 2008, at 0.15% net of a waiver through November 30, 2026 (0.20% gross).

CGBL Capital Group's take on the 60/40: one ticket that owns both stocks and bonds, US and international, chasing balanced total return with an eye on preserving capital. Live since 2023 and already a multi-billion-dollar fund.

Stated mandate

AOR The fund seeks to track an index of underlying equity and fixed-income funds designed to represent a growth-oriented target-risk allocation.

CGBL The fund seeks balanced total return, including income and capital gains, while aiming to preserve capital over the long term.

Why people hold it

AOR The index holds the stock and bond ETFs and keeps the mix at roughly 60% equities and 40% bonds, so the rebalancing happens inside the fund, not in your account.ishares.com
At 0.15% net of a waiver through November 30, 2026 (0.20% gross), it sits below the category median and under peers like AVMA at 0.21% and CGBL at 0.33%.ishares.com
Trading since November 2008, it is now a multi-billion-dollar fund that pays quarterly, and sibling AOM runs the same plumbing at a 40/60 mix.ishares.com
It holds what the label says and stays tight to its benchmark, which is the entire job here: one of the strongest implementations in its peer group.

CGBL One ticket, two asset classes: seeks balanced total return from income and capital gains while aiming to preserve capital over the long term, across US and international holdings.
Holdings stay legible for a balanced fund: a compact lineup of roughly 70 positions rather than a sprawl of thousands.
A multi-billion-dollar fund that trades actively, so getting in or out doesn't hinge on a thin order book.
Distributions land quarterly inside a plain 1940 Act fund wrapper, which means 1099 season, not partnership K-1 paperwork.

Worth knowing

AOR The 0.15% net nets out the 0.05% of fees charged by the iShares funds it owns. That waiver is contractual through November 30, 2026, not permanent.ishares.com ishares.com 2
The split is set by the index, so you cannot tilt stocks or bonds yourself, and the 40% bond sleeve brings interest-rate sensitivity along with the ballast.ishares.com
History before February 2025 sits under the old names: iShares Core Growth Allocation ETF, tracking the S&P Target Risk Growth Index.sec.gov ishares.com

CGBL At 0.33% it runs above the typical moderate-allocation fund, and index-built rivals like AOM and AOR charge 0.20%.
No index to hug. The mandate is an objective (balanced total return with capital preservation), so the stock-bond mix reflects manager judgment, not a rulebook.
It launched in late 2023, a short history for a fund built to be held through cycles.

Full AOR profile⁠

Full CGBL profile⁠

AOR vs CGBL Holdings

How AOR and CGBL differ

Overlap by weight

14.7%

Shared holdings make up 52.2% of CGBL and 17.7% of AOR.

Level by level

Holdings63 in both14.7%
Countryby domicile79.7%
Sector11 Sectors91.0%

Sector

Sector weights in AOR and CGBL, widest gap first
Sector	More in AORMore in CGBL	AOR	CGBL
Materials	CGBL +4.3 points	3.9%	8.2%
Financials	AOR +4.1 points	16.1%	12.0%
Industrials	CGBL +2.3 points	11.0%	13.3%
Real Estate	AOR +2.2 points	2.1%	0.0%
Energy	AOR +2.0 points	4.1%	2.1%
Health Care	CGBL +1.7 points	8.5%	10.2%
Consumer Discretionary	AOR +0.7 points	8.3%	7.7%
Communication	CGBL +0.5 points	7.5%	8.0%
Utilities	CGBL +0.4 points	2.3%	2.7%
Consumer Staples	AOR +0.1 points	4.5%	4.4%
Technology	AOR +0.1 points	31.6%	31.5%

Country, concentration and asset class

Country by domicile

Country weights in AOR and CGBL, widest gap first
Country	More in AORMore in CGBL	AOR	CGBL
United States	CGBL +17.5 points	73.1%	90.6%
Japan	AOR +5.3 points	5.3%	0.0%
United Kingdom	AOR +3.3 points	3.3%	0.0%
China	AOR +2.8 points	2.8%	0.0%
Germany	AOR +2.1 points	2.1%	0.0%
France	AOR +1.9 points	2.1%	0.2%
South Korea	AOR +1.6 points	1.6%	0.0%
Australia	AOR +1.6 points	1.6%	0.0%
Other countries (5)	CGBL +1.0 points	8.2%	9.2%

Outside the US: AOR 76% developed, 24% emerging.

Concentration

Weight in the 10 largest Holdings

AOR14.0%
CGBL60.9%

Securities held

AOR34,149
CGBL76

Asset class

AOR: Multi-Asset
CGBL: Multi-Asset

Holdings

Only in AOR34,086
In both63
Only in CGBL13

Only in AOR

34,086 securities, 81.8% of AOR by weight

Taiwan Semiconductor Manufacturing0.88%
Alphabet Class A0.85%
Berkshire Hathaway Inc Class B0.53%
Advanced Micro Devices0.43%
Exxonmobil Holdings Corp0.40%
Samsung Electronics Ltd0.39%
Asml Holding0.36%
Sk Hynix0.29%
Walmart0.29%
AbbVie0.27%
Chevron0.24%
Palantir Technologies Class A0.22%
Cisco Systems Inc0.21%
Roche Ps Par AG0.20%
Procter & Gamble0.20%
Merck & Co Inc0.19%
Coca-Cola0.19%
Shell0.18%
Novartis AG0.17%
Hsbc Holdings PLC0.17%
Treasury Note 4.63% 02/15/2035 (Tnote)0.17%
Astrazeneca PLC0.17%
Royal Bank of Canada0.17%
Lam Research0.16%
Palo Alto Networks0.16%
Nestle SA0.15%
Tencent Holdings0.15%
Treasury Note 4.00% 11/15/2035 (Tnote)0.14%
Texas Instrument0.14%
Treasury Note 4.25% 08/15/2035 (Tnote)0.14%
Sap0.14%
Rtx0.14%
Mitsubishi Ufj Financial Group0.14%
Goldman Sachs Group0.14%
Netflix0.13%
Crowdstrike Holdings Class A0.13%
Treasury Note 1.88% 02/15/2032 (Tnote)0.13%
Umbs 15YR Tba(Reg B) 2.00% 11/17/2026 (UM15)0.13%
Treasury Note 4.13% 05/31/2031 (Tnote)0.13%
International Business Machines Co0.13%
Siemens N AG0.13%
Linde PLC0.12%
Treasury Note (2OLD) 4.13% 02/15/2036 (Tnote)0.12%
Treasury Note (Old) 5.00% 09/30/2031 (Tnote)0.12%
Toronto Dominion0.12%
Bhp Group Ltd0.12%
Oracle0.12%
Umbs 30YR Tba(Reg A) 5.50% 11/12/2026 (UM30)0.12%
Commonwealth Bank of Australia0.12%
Morgan Stanley0.11%

Only in CGBL

13 securities, 45.4% of CGBL by weight

Capital Group Core Plus Income Cap Group Core Plus Income23.22%
Capital Group Core Bond Etf Cap Group Core Bond15.66%
Taiwan Semiconductor Sp Adr Adr2.89%
Fiserv Inc Common Stock USD.010.68%
Royal Caribbean Cruises Ltd Common Stock USD.010.58%
Alnylam Pharmaceuticals Inc Common Stock USD.010.45%
Asml Holding NV Ny Reg Shs Ny Reg Shrs EUR.090.43%
Carnival Corp Ltd Common Stock USD.010.38%
Glencore PLC Common Stock USD.010.33%
Strategy Inc Common Stock USD.0010.28%
Ftai Aviation Ltd Common Stock USD1.00.20%
Quantinuum Inc A Common Stock USD.00010.15%
Space Exploration Techn Class A Common Stock USD.0010.11%

Weight gaps

All 63 Holdings in both funds, largest gap first.

Holding weights in AOR and CGBL, widest gap first
Holding	More in AORMore in CGBL	AOR	CGBL
Broadcom IncAVGO	CGBL +3.27 points	0.81%	4.08%
Philip Morris InternationalPM	CGBL +2.29 points	0.17%	2.46%
NVIDIANVDA	AOR +2.14 points	2.58%	0.44%
Alphabet Class CGOOG	CGBL +1.96 points	0.69%	2.65%
Vertex PharmaceuticalsVRTX	CGBL +1.18 points	0.07%	1.25%
Royal GoldRGLD	CGBL +1.17 points	0.01%	1.18%
Wheaton Precious Metals	CGBL +1.10 points	0.03%	1.13%
SouthernSO	CGBL +1.09 points	0.06%	1.15%
Franco Nevada	CGBL +1.06 points	0.02%	1.08%
AtiATI	CGBL +0.99 points	0.01%	1.00%
Gilead SciencesGILD	CGBL +0.87 points	0.11%	0.98%
DeereDE	CGBL +0.86 points	0.09%	0.95%
BoeingBA	CGBL +0.84 points	0.07%	0.91%
Transdigm GroupTDG	CGBL +0.83 points	0.03%	0.86%
Union PacificUNP	CGBL +0.83 points	0.09%	0.92%
Aon PLC Class AAON	CGBL +0.81 points	0.04%	0.85%
Visa Class AV	CGBL +0.79 points	0.37%	1.16%
Booking HoldingsBKNG	CGBL +0.73 points	0.06%	0.79%
Canadian Natural Resources Ltd	CGBL +0.72 points	0.07%	0.79%
MicrosoftMSFT	CGBL +0.69 points	2.02%	2.71%
Arthur J GallagherAJG	CGBL +0.68 points	0.04%	0.72%
Bank of AmericaBAC	CGBL +0.67 points	0.17%	0.84%
Ares Management Class AARES	CGBL +0.66 points	0.01%	0.67%
UnitedHealth GroupUNH	CGBL +0.65 points	0.19%	0.84%
Lundin Mining	CGBL +0.64 points	<0.01%	0.65%
Ge VernovaGEV	CGBL +0.63 points	0.12%	0.75%
Dte EnergyDTE	CGBL +0.61 points	0.01%	0.62%
ConocophillipsCOP	CGBL +0.59 points	0.10%	0.69%
Micron TechnologyMU	CGBL +0.57 points	0.52%	1.09%
Comcast Class ACMCSA	CGBL +0.57 points	0.04%	0.61%
Amgen IncAMGN	CGBL +0.54 points	0.13%	0.67%
First Quantum Minerals	CGBL +0.50 points	<0.01%	0.51%
Apollo Global ManagementAPO	CGBL +0.49 points	0.03%	0.52%
Cvs HealthCVS	CGBL +0.48 points	0.06%	0.54%
Darden Restaurants IncDRI	CGBL +0.45 points	0.01%	0.46%
Intel CorporationINTC	CGBL +0.44 points	0.17%	0.61%
D R HortonDHI	CGBL +0.40 points	0.02%	0.42%
Johnson & JohnsonJNJ	CGBL +0.40 points	0.34%	0.74%
Thermo Fisher ScientificTMO	CGBL +0.40 points	0.13%	0.53%
Amazon.com IncAMZN	AOR +0.38 points	1.23%	0.85%
Brown & Brown IncBRO	CGBL +0.37 points	0.01%	0.38%
Synchrony FinancialSYF	CGBL +0.36 points	0.01%	0.37%
Capital One Financial CorpCOF	CGBL +0.34 points	0.07%	0.41%
Mastercard Class AMA	CGBL +0.34 points	0.27%	0.61%
Quanta Services IncPWR	CGBL +0.33 points	0.05%	0.38%
Compagnie Financiere Richemont SA	CGBL +0.33 points	0.06%	0.39%
Starbucks CorpSBUX	CGBL +0.33 points	0.06%	0.39%
KlaKLAC	CGBL +0.32 points	0.11%	0.43%
Wells FargoWFC	CGBL +0.32 points	0.13%	0.45%
Ge AerospaceGE	CGBL +0.30 points	0.16%	0.46%
Meta Platforms Class AMETA	CGBL +0.27 points	0.71%	0.98%
Amphenol Corp Class AAPH	CGBL +0.26 points	0.10%	0.36%
Tesla IncTSLA	AOR +0.24 points	0.59%	0.35%
Home DepotHD	CGBL +0.20 points	0.17%	0.37%
United RentalsURI	CGBL +0.19 points	0.04%	0.23%
Caterpillar IncCAT	CGBL +0.19 points	0.15%	0.34%
Safran SA	CGBL +0.19 points	0.06%	0.25%
Eli LillyLLY	CGBL +0.17 points	0.59%	0.76%
Costco Wholesale CorpCOST	CGBL +0.16 points	0.23%	0.39%
Shopify Subordinate Voting Class A	CGBL +0.11 points	0.11%	0.22%
AppleAAPL	AOR +0.10 points	2.62%	2.52%
JPMorgan Chase & CoJPM	AOR +0.08 points	0.47%	0.39%
Applied Material IncAMAT	Same weight	0.16%	0.16%

All AOR holdings⁠All 74 CGBL 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.

AOR vs CGBL Cost

Overpaying CGBL vs AOR

$3,600

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

AOR 0.15%
$3,137
CGBL 0.33%
$6,737

Amount$10,000

Years30 years

Cost over time

AOR 0.15%
CGBL 0.33%
Overpaying

Year by year

Year	AOR	CGBL	Overpaying
10	$274	$598	$324
20	$1,071	$2,318	$1,247
30	$3,137	$6,737	$3,600

Expense ratio

0.15%AOR, cheaper
0.33%CGBL

AOR0.15%CGBL0.33%

0.15%0.33%

Middle half of Balanced Allocation funds
Median 0.21%

AOR cheapest of 5 funds

CGBL 5th cheapest of 5 funds

AOR vs CGBL Dividends

Last 12 months to Oct 30, 2026

Yield (12M): AOR 2.66%, better; CGBL 1.96%
Payout (12M): AOR $1.81; CGBL $0.72
Last payment: AOR $0.31; CGBL $0.21
Ex-dividend: AOR Oct 2, 2026; CGBL Sep 30, 2026
Paid on: AOR Oct 7, 2026; CGBL Oct 1, 2026
Frequency: AOR Quarterly; CGBL Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

AORQuarterly · 39 paymentsAll AOR payments⁠

CGBLQuarterly · 12 paymentsAll CGBL payments⁠

AOR vs CGBL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: AOR 8.2%, betterCGBL 9.2%
Return per unit of riskSharpe ratio, 3 years: AOR 1.26CGBL 1.27, better
Worst fallMax drawdown, 5 years: AOR −21.7%CGBL −11.7%since Sep 2023
Market sensitivityBeta, 5 years: AOR 0.91CGBL 0.70; Market = 1

AOR and CGBL in the news

All news⁠

New ETFs
YieldMax lists an SK hynix options ETF that does not own the shares
Oct 28, 2026AOR
First-Year Review
Myriad's allocation fund gained 17%, 1.6 percentage points ahead of global stocks
Oct 2, 2026AOR
Category Review
Tactical funds ranged from a 32.2% gain to a 12.5% loss
Updated Sep 29, 2026AOR

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AOR vs CGBL

In short

Stated mandate

Why people hold it