AOK vs SPY
AOK vs SPY
iShares Core 30/70 Conservative Allocation ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | AOK | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.09% | |
| AUM | $787M | $789.1B | |
| Dividend Yield | 3.27% | 1.01% | |
| Holdings | 9 | 505 | |
| YTD Return | +4.40% | +13.79% | |
| 1Y Return | +9.19% | +23.66% | |
| 3Y Return (annualized) | +9.19% | +21.40% | |
| 5Y Return (annualized) | +3.60% | +13.37% | |
| Volatility (annualized) | 6.0% | 15.3% | |
| Max Drawdown | -18.9% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Nov 4, 2008 | Jan 22, 1993 |
AOK vs SPY Performance
iShares Core 30/70 Conservative Allocation ETF (AOK) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year AOK returned +9.19% while SPY returned +23.66%. Year to date, AOK is up 4.40% versus a gain of 13.79% for SPY.
Over three years, AOK compounded at +9.19% per year against +21.40% for SPY; over five years the annualized figures are +3.60% and +13.37% respectively. Across the full 18-year window we track, SPY has the edge at +8.85% annualized vs +3.77%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 6.0% for AOK. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -18.9% for AOK and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AOK charges 0.15% per year while SPY charges 0.09%. On a $10,000 position that is $15 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, AOK currently yields 3.27% against 1.01% for SPY.
Holdings Overlap
AOK and SPY share 0 holdings out of 511 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, AOK or SPY?
AOK has an expense ratio of 0.15% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $6 per year of difference.
Which performed better, AOK or SPY?
Over the past year AOK returned +9.19% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (18 years), AOK annualized +3.77% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, AOK or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 6.0% for AOK. Worst drawdown: AOK -18.9% vs SPY -56.5%.
Should I hold both AOK and SPY?
AOK and SPY have a monthly-return correlation of 0.84, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AOK and SPY?
AOK and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 511 unique securities.
Which pays a higher dividend, AOK or SPY?
AOK yields 3.27% while SPY yields 1.01%, so AOK currently pays the higher dividend yield.
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