What Is the AOR ETF? A Complete Guide to Returns, Expense Ratio, Holdings and Alternative ETFs
A global balanced ETF that allocates across stocks and bonds. It uses a fund-of-funds structure that holds iShares ETFs as its underlying components.
SubscribeWhat Is This ETF?
This is a fund-of-funds ETF that tracks the asset allocation model of S&P Dow Jones Indices. It uses U.S. and international equity ETFs and bond ETFs as underlying holdings to build a balanced, globally diversified portfolio.
It holds stocks and bonds in a single ETF, making it suitable for investors who want a stable long-term asset allocation.
BlackRock (iShares) launched it in 2008, and it is managed passively (index tracking).
How Does It Invest?
| Item | Details |
|---|---|
| Tracked Index | S&P Target Risk Growth Index |
| Management Style | Passive (index tracking) |
| Rebalancing Frequency | Quarterly |
| Dividend Frequency | Quarterly |
| Total Expense Ratio | 0.15% |
| Structure | Fund of funds (holds iShares ETFs) |
| Asset Allocation Goal | Equity-focused global allocation, with bonds as a supplementary allocation |
It uses iShares equity and bond ETFs as underlying holdings to maintain a balanced allocation between global stocks and bonds. On top of an equity allocation centered on U.S. large caps, it adds developed-market and emerging-market ETFs, and on the bond side it also includes U.S. and international bond ETFs.
- Achieves a balanced global stock and bond allocation in a single ETF
- A low-cost fund-of-funds structure that uses iShares Core ETFs as its underlying components
Size and Costs
Assets under management (AUM) stand at $3.9B, and the expense ratio is 0.15% per year.
Compared with others in the same series, AOA (higher equity weighting), AOM (higher bond weighting) and AOK (conservative allocation), the risk and return profile differs, so the right choice may vary depending on your investment objective.
Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeBecause the structure holds both global stocks and bonds, returns may lag those of pure equity ETFs during equity rallies, but the bond allocation tends to soften drawdowns when market volatility rises.
Backed by demand from long-term investors who prefer stable asset allocation, it has maintained a steady pace of inflows, and in an environment of shifting interest rates, the bond allocation affects returns.
Strengths and Weaknesses
Its strength is that a single ETF delivers globally diversified asset allocation, while its weaknesses are the limited returns caused by the bond allocation and the double-fee structure.
💪 Key Strengths
⚠️ Points to Watch
Alternative ETFs and Related Products
AOA, AOM and AOK, which belong to the same iShares asset allocation series, each use a different equity weighting, so the choice depends on your risk appetite. Beyond allocation-type ETFs, if you want a completely different structure, HNDL and MPRO, which focus on monthly dividend income, are also worth comparing. If you want to build your own asset allocation by holding stock and bond ETFs individually, you could also consider buying IVV and IUSB, both held inside AOR, as separate positions.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 AOA | iShares Core 80/20 Aggressive Allocation ETF | $97.48 | -0.1% | $3.4B | 0.15% | 2.16% | +8.5% |
 AOM | iShares Core 40/60 Moderate Allocation ETF | $49.01 | +0.1% | $1.9B | 0.15% | 3.16% | +2.0% |
 AOK | iShares Core 30/70 Conservative Allocation ETF | $40.74 | +0.1% | $854.4M | 0.15% | 3.48% | +0.3% |
 HNDL | Nasdaq 7HANDL Index ETF 1.23x Shares | $22.17 | +0.6% | $638.0M | 0.94% | 7.08% | -0.9% |
 MPRO | Monarch ProCap Index ETF | $33.21 | +1.2% | $252.0M | 1.03% | 1.81% | +8.8% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 IVV | iShares Core S&P 500 ETF | 0.70% | $772.97 | -0.3% | $0.0M | - | 1.09% |
 IUSB | iShares Core Universal USD Bond ETF | 0.65% | $44.81 | +0.3% | $0.0M | - | 4.33% |
 ESGD | iShares Trust iShares ESG Aware MSCI EAFE ETF | 0.34% | $103.51 | +0.6% | $0.0M | - | 3.31% |
 IEMG | iShares Core MSCI Emerging Markets ETF | 0.14% | $76.36 | -1.3% | $0.0M | - | 2.35% |
 AGG | iShares Core U.S. Aggregate Bond ETF | 0.11% | $96.15 | +0.3% | $0.0M | - | 4.12% |
Investor Checkpoints
Here are the points to review before investing in AOR. It is important to check in advance the convenience of automated asset allocation, the return characteristics resulting from the bond weighting, and the double-fee structure.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the combined level of the ETF's own fee and the indirect fees of the underlying ETFs | Remains low |
| 📊 Asset Allocation Ratio | Check whether the stock and bond weightings match your investment goals | Balanced allocation maintained |
| 💱 Currency Impact | The effect of dollar and foreign currency exchange rate movements on returns | No currency hedging applied |
| 📈 Interest Rate Environment | Because of the bond allocation, be aware of bond gains and losses that follow the direction of interest rates | Market conditions need to be monitored |
Because of the bond weighting, losses can occur on the bond side during sharp interest rate spikes, and the lower equity weighting can limit returns in bull markets. The double-fee structure also affects long-term compounded returns, so it needs to be checked.
This structure suits long-term investors who want to diversify in a balanced way across global stocks and bonds with a single ETF. To raise the equity weighting, AOA is the alternative within the same series, and to raise the bond weighting, AOM and AOK are the alternatives.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
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