AOA vs NTSX: returns, risk and drawdowns compared
iShares Core Aggressive Allocation ETF against WisdomTree U.S. Efficient Core Fund, over the same 6 years (July 2020 to October 2026) with dividends reinvested.
Data updated October 2026
From July 2020 to October 2026, AOA returned 11.9% a year and NTSX 12.4% a year on average, so NTSX came out ahead by 0.5% a year. NTSX was the more volatile of the two (16.0% against 12.4% a year), and the deepest falls from a month-end high were 23.0% for AOA and 30.4% for NTSX.
The correlation of monthly returns was 0.97: they moved almost in lockstep. Over 41 rolling 3-year periods, AOA did better in 44% and NTSX in 56%.
Side by side
| AOA | NTSX | |
|---|---|---|
| Annual return (CAGR) | +11.9% | +12.4% |
| Total return | +104% | +110% |
| Annual volatility | 12.4% | 16.0% |
| Maximum drawdown (month-end) | −23.0% | −30.4% |
| Worst month | −8.3% | −11.2% |
| Best month | +9.7% | +10.7% |
| Positive months | 67% | 63% |
| Best year | 2025: +19.6% | 2023: +22.7% |
| Worst year | 2022: −16.2% | 2022: −25.8% |
| 1-year return | +12.7% | +10.4% |
| 5 years, a year | +8.6% | +8.2% |
| 10 years, a year | +10.3% | — |
| Trading currency | USD | USD |
First nine rows: the same 76 months for both funds. Trailing returns: to each fund’s last close.
Growth of 10,000: AOA vs NTSX
Returns by calendar year
| Year | AOA | NTSX |
|---|---|---|
| 2025 | +19.6% | +18.8% |
| 2024 | +13.6% | +20.2% |
| 2023 | +18.3% | +22.7% |
| 2022 | −16.2% | −25.8% |
| 2021 | +15.5% | +22.2% |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
The comparison uses only the months in which both funds have prices, so the figures cover the same period even when one fund is older.
Questions
Which has returned more, AOA or NTSX?
From July 2020 to October 2026, AOA returned +11.9% a year and NTSX +12.4% a year, with dividends reinvested. Over rolling 3-year periods AOA did better in 44% of cases. Past returns do not predict future returns.
Which is riskier, AOA or NTSX?
Over the same months annual volatility was 12.4% for AOA and 16.0% for NTSX; the deepest fall from a month-end high was 23.0% and 30.4%, and the worst single month −8.3% and −11.2%.
How correlated are AOA and NTSX?
The correlation of their monthly returns was 0.97: they moved almost in lockstep. Holding both adds little diversification compared with holding one.
More comparisons
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.