Which returned more over the last year, AOR or USMV?

In the year to Oct 28, 2026, with distributions reinvested, AOR returned +7.8% and USMV +10.8%.

Which is cheaper, AOR or USMV?

Neither: AOR and USMV both charge 0.15% a year. Fees come from each fund's prospectus.

How much do AOR and USMV overlap with the S&P 500?

By their latest filed holdings, 0% of AOR and 93% of USMV by weight is stocks the S&P 500 already holds.

Data as of Oct 28, 2026.

Across categories

AOR vs USMV: Differences, Returns & Fees

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Over the year to Oct 28, 2026, AOR returned +7.8% to USMV's +10.8%; 0% of their weight is in the same names.

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Net assets: $3.9bn on Oct 28, 2026 for iShares Core 60/40 Balanced Allocation ETF, and $24.1bn on Oct 27, 2026 for iShares MSCI USA Min Vol Factor ETF.

AOR on its own →USMV on its own →

At a glance

+7.8%

AOR total return, 1 year

+10.8%

USMV total return, 1 year

0.15%

AOR expense ratio

0.15%

USMV expense ratio

Pair scorecard

Both cost 0.15% a year; their one-year returns differ by 3.0 points; USMV is 6.2 times larger.

Points (pts) are percentage points.

AOR vs USMV: Differences, Returns & Fees
Measure	AOR	USMV
Return
Measure	AOR	USMV
Total return, 1 year	+7.8%	+10.8%
Benchmark
Measure	AOR	USMV
What it tracks	60/40 Balanced Allocation	MSCI USA Minimum Volatility (USD) Index
Cost and size
Measure	AOR	USMV
Expense ratio	0.15%	0.15%
Net assets, as of Oct 27, 2026	$3.9bn	$24.1bn
Holdings
Measure	AOR	USMV
Holdings in common	0%
Top ten holdings, share of the fund	99.9%	14.8%

Holdings in common uses holdings dated Oct 27, 2026. Method

Risk and return

Oct 28, 2011 to Oct 23, 2026 · 782 weekly returns

AOR USMV

Return

Total return edge USMV +206.7% +423.5%

Annualized edge USMV +7.7% +11.6%

Price return edge USMV +113.7% +295.7%

Risk

Volatility edge AOR 9.8% 13.4%

Max drawdown edge AOR −22.2% −30.6%

Risk-adjusted

Sharpe edge USMV 0.63 0.76

Sortino edge USMV 0.91 1.09

Calmar edge USMV (slight) 0.35 0.38

Reading

USMV returned more: +423.5% to +206.7%. AOR swung less: 9.8% to 13.4%. AOR fell less at its worst: −22.2% to −30.6%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: AOR vs USMV: Differences, Returns & Fees
Measure	AOR	USMV	Edge	How it is measured
Return
Total return	+206.7%	+423.5%	USMV	Price change plus distributions, reinvested.
Annualized	+7.7%	+11.6%	USMV	Total return as a yearly rate.
Price return	+113.7%	+295.7%	USMV	Price change alone, distributions left out.
Risk
Volatility	9.8%	13.4%	AOR	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	6.9%	9.3%	AOR	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−22.2%	−30.6%	AOR	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.63	0.76	USMV	Return above Treasury bills per unit of volatility.
Sortino	0.91	1.09	USMV	Return above Treasury bills per unit of downside deviation.
Calmar	0.35	0.38	USMV (slight)	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 782 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, AOR and USMV hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first AOR USMV

Only in one fund ↓

Only in AOR

ISHARES CORE S&P ETF TRUST 35.70%

ISHARES CORE UNIV USD BOND ETF 32.15%

ISHARES CORE MSCI INT DEVEL ETF 17.10%

ISHARES CORE MSCI EMERGING MARKETS 6.34%

iShares Core Intl Aggregate Bnd ET 5.81%

ISHARES CORE S&P MID-CAP ETF 1.89%

ISHARES CORE S&P SMALL-CAP ETF 0.92%

Only in USMV

MICROSOFT 1.61%

EXXONMOBIL HOLDINGS CORP 1.54%

BERKSHIRE HATHAWAY INC CLASS B 1.50%

CHUBB 1.50%

MOTOROLA SOLUTIONS INC 1.48%

AMPHENOL CORP CLASS A 1.47%

NVIDIA 1.47%

JOHNSON & JOHNSON 1.44%

Check overlap with more funds →

Side by side

AOR iShares Core 60/40 Balanced Allocation ETF USMV iShares MSCI USA Min Vol Factor ETF

Where it sits Allocation ETF Stock ETF

Issuer iShares iShares

What it is Tracks an index of 60/40 Balanced Allocation Tracks the MSCI USA Min Vol Factor

Total return, 1 year +7.8% +10.8%

Its benchmark over the same days +13.4% (ACWI) not measured

Gap to its benchmark −5.6 pts vs ACWI not measured

Expense ratio 0.15% 0.15%

Already in the S&P 500 0.0% 93.0%

Holdings 7 176

Net assets, AOR as of Oct 28, 2026 and USMV as of Oct 27, 2026 $3.9bn $24.1bn

AOR and USMV on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-315766E959

AOR and USMV do different jobs. What does each one do in a portfolio?

What each follows. AOR follows 60/40 Balanced Allocation and USMV follows MSCI USA Minimum Volatility (USD) Index.
Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026).
One-year total return. Over 1 year to Oct 28, 2026 AOR returned +7.8% and USMV +10.8% with distributions reinvested, a gap of 3.0 points.

Data as of Oct 28, 2026.

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About each fund

AOR

AOR tracks an index of 60/40 Balanced Allocation. Over the year to Oct 28, 2026 it returned +7.8% with distributions reinvested, against +13.4% for its benchmark, the MSCI All Country World Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 7 positions, with the top ten at 99.9%.

USMV

USMV tracks the MSCI USA Min Vol Factor. Over the year to Oct 28, 2026 it returned +10.8% with distributions reinvested. By its holdings published by its issuer for Oct 27, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 176 positions, with the top ten at 14.8%.

Questions people ask

Which returned more over the last year, AOR or USMV?: In the year to Oct 28, 2026, with distributions reinvested, AOR returned +7.8% and USMV +10.8%.
Which is cheaper, AOR or USMV?: Neither: AOR and USMV both charge 0.15% a year. Fees come from each fund's prospectus.
How much do AOR and USMV overlap with the S&P 500?: By their latest filed holdings, 0% of AOR and 93% of USMV by weight is stocks the S&P 500 already holds.

Other comparisons

AOR vs RDVY AOR vs CGGR AOR vs SPMO AOR vs DFUS CGBL vs USMV IYR vs USMV HYMB vs USMV MSLC vs USMV

Where to next

AOR on its own →USMV on its own →Hold both: look the portfolio through →Rankings →AOR dividend history →AOR holdings →USMV dividend history →USMV holdings →Standards and sources →

Sources and dates

AOR and USMV filings on SEC EDGAR ↗

AOR and USMV prospectus with the expense ratio (SEC) ↗

iShares page for AOR ↗

iShares page for USMV ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, AOR against USMV, data as of Oct 28, 2026. https://etfiq.com/compare/any/aor-vs-usmv

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.