At a glance
EAOA charges 0.18% a year, below the 0.86% average of the 7 funds most like it (the cheapest of 8). It has $36.9M in assets, the 8th largest of that group; it paid 1.68% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +12.0% with distributions reinvested (S&P 500: +11.5%), 4th of those 8 funds; over three years it returned +20.1% a year. At its worst it fell 24.5% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 16 months after the low.
The short version
The iShares ESG Aware 80/20 Aggressive Allocation ETF (EAOA) is a fund of funds. It tracks the BlackRock ESG Aware Aggressive Allocation Index by holding five iShares ETFs, split about 80% stocks and 20% investment-grade bonds. Those ETFs favor companies with stronger environmental, social and governance (ESG) ratings. The fund offers a global stock-and-bond mix in one ticker for 0.18% a year. Its main drawback is size: net assets were about $36.9 million as of July 31, 2026.
Price history
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EAOA +12.0% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| EAOA official prospectus, to Dec 31, 2024 | — | +13.85% | — | — | — | +10.02% |
| MSCI All Country World Index Net index, same period | — | +17.49% | — | — | — | +13.12% |
| Bloomberg US Universal Index index, same period | — | +2.04% | — | — | — | -0.95% |
| EAOA price data to Oct 27, 2026 | +12.0% | +12.0% | +20.1% | +8.3% | — | +8.9% |
- Over the year to Oct 27, 2026, EAOA returned +12.0%, 4th of 8 among similar funds.
- Its 5-year annualized return was +8.3%.
- Its worst full calendar year was 2022 (-17.8%); its best was 2025 (+18.4%).
- The deepest fall in its price history was 25.1% (Nov 8, 2021 to Oct 14, 2022), recovered by Mar 1, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +11.9% | — |
| 2025 | +18.4% | — |
| 2024 | +13.8% | +13.85% |
| 2023 | +18.3% | +18.36% |
| 2022 | -17.8% | -17.94% |
| 2021 | — | +14.79% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 24.4% over that stretch · deepest drop along the way 24.5%, back to its old high 16.4 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.4200 | |
| 2025 | $0.8800 | +17.3% |
| 2024 | $0.7500 | +5.6% |
| 2023 | $0.7100 | +31.5% |
| 2022 | $0.5400 |
What's inside
As of Jul 31, 2026, the fund held 5 securities; the ten largest made up 99.91% of assets.
| Fund held | Weight | |
|---|---|---|
| iShares ESG Aware MSCI USA ETF Other | 49.87% | |
| iShares ESG Aware U.S. Aggregate Bond ETF Other | 18.81% | |
| iShares ESG Aware MSCI EAFE ETF Other | 17.03% | |
| iShares ESG Aware MSCI EM ETF Other | 9.17% | |
| iShares ESG Aware MSCI USA Small-Cap ETF Other | 5.03% |
By country
United States 99.91%By asset type
Other 99.91%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +4.02%, +0.13%, -0.71%.
How it works
EAOA is a fund of funds: rather than buying stocks and bonds directly, it buys other iShares ETFs. It tracks the BlackRock ESG Aware Aggressive Allocation Index, built by BlackRock Index Services, a BlackRock affiliate. Each underlying fund follows its own index, which favors issuers rated well on environmental, social and governance (ESG) traits.
The index sets a fixed mix: 80% in stock funds and 20% in funds holding US dollar investment-grade bonds (highly rated debt). The fund resets to that split twice a year, after the close on the last business day of April and October. In between, market moves let the mix drift. As of July 31, 2026, it held five iShares ESG Aware ETFs: MSCI USA (about 49.9%), U.S. Aggregate Bond (18.8%), MSCI EAFE for developed markets abroad (17.0%), MSCI EM for emerging markets (9.2%) and MSCI USA Small-Cap (5.0%).
The adviser uses representative sampling, holding a sample that resembles the index rather than every security. At least 80% of assets sit in index components; up to 20% may go to futures, options, swaps, cash or other holdings that aid tracking. It may lend securities worth up to one-third of its total assets. The prospectus flags a conflict of interest: the adviser picks the underlying ETFs and earns fees from some of them.
What it really costs
- EAOA charges 0.18% a year, versus an average of 0.86% for the similar funds below (1st of 8, cheapest first).
- The fee includes a 0.16% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $18 in the first year and $343 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| EAOA | $18 | $58 | $101 | $343 |
Structure and tax notes
- Invests in other funds rather than directly in stocks or bonds, so its holdings are those funds.
In a retirement portfolio
It packages a global, rebalanced 80/20 stock-and-bond mix into one low-cost fund, so it can serve as the main growth engine of a portfolio.
EAOA launched in June 2020, after the COVID crash, so it has no record for 2008 or 2020. In the 2022 bear market it fell about 24.5%, and 2022 was its worst calendar year, at -17.94%. Its deepest drop was 25.1%, from November 2021 to October 2022. It took about 16.6 months from that low to recover, in March 2024. Someone selling shares to cover spending during a stretch like that would lock in losses, and the 20% bond slice only partly cushions the fall. Income is modest: the trailing 12-month yield was 1.68% as of October 27, 2026, paid twice a year. Costs are low. In the SEC's example, $10,000 costs about $18 in year one and $343 over 10 years. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a global 80/20 stock-and-bond mix with an ESG tilt in one ticker, rebalanced twice a year, for 0.18% annually.
- Long-horizon savers who can sit through drops like the 25.1% decline in 2021–2022, which took about 16.6 months from the low to recover.
- People who prefer a low-turnover index approach (3%) and are happy to let BlackRock's index set the stock-bond balance.
Look elsewhere if
- Retirees who want steady income: the trailing yield was 1.68% as of October 27, 2026, and it pays only twice a year.
- Investors wary of small funds: net assets were about $36.9 million as of July 31, 2026, which can raise the risk of the fund closing.
- Those who want a gentler mix or no ESG filter: with 80% in stocks it fell 24.5% in 2022, and ESG rules can make it lag broad indexes.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| EAOA this fund | 0.18% | $36.9M | +12.0% | +20.1% |
| BUFR FT Vest Laddered Buffer ETF | 0.95% | $10.49B | +11.6% | +16.8% |
| BUFD FT Vest Laddered Deep Buffer ETF | 0.95% | $2.04B | +9.5% | +13.9% |
| PJAN Innovator U.S. Equity Power Buffer ETF - Ja… | 0.79% | $1.44B | +10.5% | +14.8% |
| PDEC Innovator U.S. Equity Power Buffer ETF - De… | 0.79% | $984.1M | +11.6% | +14.9% |
| FDEC FT Vest US Equity Buffer ETF - December | 0.85% | $1.31B | +12.9% | +18.5% |
| FJAN FT Vest US Equity Buffer ETF - January | 0.85% | $1.47B | +12.3% | +17.4% |
| FFEB FT Vest U.S. Equity Buffer Fund - February | 0.85% | $1.42B | +12.9% | +18.6% |
Questions investors ask
Is EAOA a good fund for retirement?
It may suit retirement savers who want a single, mostly-stock fund. EAOA keeps about 80% in stock ETFs and 20% in investment-grade bond ETFs, rebalanced each April and October, for 0.18% a year. With 80% in stocks, the swings are real: it fell 24.5% in the 2022 bear market and took about 16 months from the low to recover. Its yield was 1.68% as of October 27, 2026, paid twice a year, so it works more as a growth holding than an income source.
What ETFs does EAOA hold?
EAOA holds five other iShares ETFs. As of July 31, 2026, they were the iShares ESG Aware MSCI USA ETF (49.9%), iShares ESG Aware U.S. Aggregate Bond ETF (18.8%), iShares ESG Aware MSCI EAFE ETF (17.0%), iShares ESG Aware MSCI EM ETF (9.2%) and iShares ESG Aware MSCI USA Small-Cap ETF (5.0%). Through them it owns large U.S. companies, stocks in developed and emerging markets abroad, U.S. small companies and investment-grade U.S. bonds.
What is EAOA's expense ratio?
EAOA's expense ratio is 0.18% a year, after a fee waiver, according to its prospectus filed November 21, 2025. The SEC's standard example assumes $10,000 invested with a 5% yearly return. On that basis, the fund would cost about $18 in the first year, $58 over three years, $101 over five years and $343 over 10 years. That price covers a full global stock-and-bond mix that rebalances itself twice a year.
EAOA vs BUFR: what's the difference?
Both aim for a smoother ride, but they get there differently. BUFR, the FT Vest Laddered Buffer ETF, uses options to absorb part of a stock decline, which caps its gains, and charges 0.95% a year. EAOA uses no options. Its cushion is its 20% bond slice, and it costs 0.18%. As of October 27, 2026, EAOA returned 12% over one year and 20.1% a year over three years, versus 11.6% and 16.8% for BUFR. BUFR is much larger, at about $10.5 billion in assets.
How has EAOA performed compared with global stocks?
It has trailed an all-stock benchmark, which isn't surprising for a fund that is 20% bonds. Through December 31, 2024, EAOA returned 10.02% a year since its June 2020 launch, versus 13.12% for the MSCI All Country World Index. Its worst calendar year was 2022, at -17.94%. Based on price, it gained 18.44% in 2025 and 11.95% in 2026 through October 27. Its ESG rules can also make it lag funds that don't use them.