At a glance
EAOK charges 0.18% a year, below the 0.86% average of the 7 funds most like it (the cheapest of 8). It has $8.4M in assets, the 8th largest of that group; it paid 2.7% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +3.9% with distributions reinvested (S&P 500: +11.5%), the weakest of those 8 funds; over three years it returned +10.7% a year. At its worst it fell 18.3% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 22 months after the low.
The short version
iShares ESG Aware 30/70 Conservative Allocation ETF (EAOK) is a BlackRock fund of funds: it tracks the BlackRock ESG Aware Conservative Allocation Index, which holds five iShares ESG Aware ETFs and resets to 70% investment-grade bonds and 30% stocks twice yearly. It offers that conservative mix, with an environmental, social and governance (ESG) tilt, for 0.18% a year. The catch is size: net assets were only about $8.4 million as of July 31, 2026.
Price history
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EAOK +3.9% 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 | |
|---|---|---|---|---|---|---|
| EAOK official prospectus, to Dec 31, 2024 | — | +5.81% | — | — | — | +2.65% |
| Bloomberg US Universal Index index, same period | — | +2.04% | — | — | — | -0.95% |
| MSCI All Country World Index Net index, same period | — | +17.49% | — | — | — | +13.12% |
| EAOK price data to Oct 27, 2026 | +4.1% | +3.9% | +10.7% | +2.9% | — | +3.3% |
- Over the year to Oct 27, 2026, EAOK returned +3.9%, 8th of 8 among similar funds.
- Its 5-year annualized return was +2.9%.
- Its worst full calendar year was 2022 (-14.9%); its best was 2025 (+11.4%).
- The deepest fall in its price history was 19.9% (Nov 9, 2021 to Oct 20, 2022), recovered by Sep 13, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +4.1% | — |
| 2025 | +11.4% | — |
| 2024 | +5.8% | +5.81% |
| 2023 | +10.1% | +10.22% |
| 2022 | -14.9% | -15.29% |
| 2021 | — | +4.76% |
| 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 18.3% over that stretch · deepest drop along the way 18.3%, back to its old high 22.3 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.4900 | |
| 2025 | $0.8700 | +7.4% |
| 2024 | $0.8100 | +17.4% |
| 2023 | $0.6900 | +32.7% |
| 2022 | $0.5200 |
What's inside
As of Jul 31, 2026, the fund held 5 securities; the ten largest made up 99.95% of assets.
| Fund held | Weight | |
|---|---|---|
| iShares ESG Aware U.S. Aggregate Bond ETF Other | 68.37% | |
| iShares ESG Aware MSCI USA ETF Other | 19.42% | |
| iShares ESG Aware MSCI EAFE ETF Other | 6.63% | |
| iShares ESG Aware MSCI EM ETF Other | 3.57% | |
| iShares ESG Aware MSCI USA Small-Cap ETF Other | 1.96% |
By country
United States 99.95%By asset type
Other 99.95%What changed recently
- Over the three months to Jul 31, 2026, investors withdrew a net $709K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +1.70%, +0.19%, -1.06%.
How it works
EAOK tracks the BlackRock ESG Aware Conservative Allocation Index, a fixed recipe: 70% in iShares funds holding U.S. dollar investment-grade bonds (debt rated as lower default risk) and 30% in iShares stock funds. Each underlying fund tracks its own index of issuers judged to have positive environmental, social and governance (ESG) traits. As of July 31, 2026, EAOK held the iShares ESG Aware U.S. Aggregate Bond (68.4%), MSCI USA (19.4%), MSCI EAFE (6.6%, developed international), MSCI EM (3.6%, emerging markets) and MSCI USA Small-Cap (2.0%) ETFs.
The index rebalances twice a year, after the close on the last business day of April and October, and the fund follows; in between, the 70/30 mix drifts as markets move. As of July 31, 2025, a significant share of the index came indirectly from Treasury securities and securitized assets (bonds backed by pools of loans like mortgages).
The fund generally keeps at least 80% of assets in index components, with up to 20% allowed in futures, options, swaps or cash. It may lend securities worth up to a third of its assets. Portfolio turnover was just 3%, and the fund doesn't move to cash when markets fall. The index provider is a BlackRock affiliate, and BlackRock earns fees on the underlying funds, a potential conflict of interest the prospectus flags.
What it really costs
- EAOK 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 0.12% 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 $315 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| EAOK | $18 | $58 | $101 | $315 |
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 combines U.S., international and emerging-market stocks with investment-grade bonds in a fixed 30/70 mix, so it could serve as the main holding in a conservative portfolio.
EAOK launched in June 2020, so it has no record through the 2008 crisis or the early-2020 COVID crash. Its main test came in 2022, when rising interest rates pushed bond prices down as stocks fell. It lost 15.29% that year, its worst calendar year. Its deepest drop, 19.9% from November 9, 2021, to October 20, 2022, took about 23 months from the low to recover, in September 2024. Anyone withdrawing money in that stretch was cashing out shares at depressed prices, despite the 70% bond weighting.
Income is modest: the trailing 12-month yield was 2.7% as of October 27, 2026, paid quarterly. Costs are low: 0.18% a year, or $18 on $10,000 in year one under the SEC's standard example. Its small size also adds some risk of closure. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting one fund that holds about 70% investment-grade bonds and 30% U.S. and international stocks, rebalanced automatically each April and October.
- Cost-conscious investors: the net expense ratio is 0.18%, or $18 on a $10,000 investment in the first year under the SEC's standard example.
- Those wanting an ESG tilt in both stocks and bonds without managing five separate iShares ESG Aware funds on their own.
Look elsewhere if
- Investors wary of very small funds, which are more likely to close: net assets were about $8.4 million as of July 31, 2026.
- Anyone counting on a bond-heavy mix to hold steady in every downturn: it lost 15.29% in 2022, when stocks and bonds fell together.
- Investors who want the whole market without ESG criteria, which the prospectus warns may cause the fund to trail funds that don't use them.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| EAOK this fund | 0.18% | $8.4M | +3.9% | +10.7% |
| 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
What does EAOK invest in?
EAOK holds five other iShares ETFs rather than individual stocks and bonds. As of July 31, 2026, the iShares ESG Aware U.S. Aggregate Bond ETF made up 68.4% of the fund, followed by the ESG Aware MSCI USA ETF at 19.4%, the ESG Aware MSCI EAFE ETF (developed international stocks) at 6.6%, the ESG Aware MSCI EM ETF (emerging markets) at 3.6% and the ESG Aware MSCI USA Small-Cap ETF at 2.0%. Cash was about 0.1%.
How has EAOK performed since it launched?
From its June 12, 2020, launch through December 31, 2024, EAOK returned 2.65% a year, according to its prospectus. That trailed the MSCI All Country World Index, a global stock benchmark, at 13.12% a year, but beat the Bloomberg US Universal Index, a broad bond benchmark, which lost 0.95% a year. Its worst year was 2022, a 15.29% loss. On a price basis, it gained 11.44% in 2025 and averaged 10.7% a year over the three years to October 27, 2026.
Does EAOK pay monthly dividends?
No. EAOK pays distributions quarterly, not monthly. Over the 12 months to October 27, 2026, it paid about $0.76 per share, a trailing yield of 2.7%. Payments can vary from quarter to quarter because they depend on income from the five underlying iShares funds. For retirees who budget monthly, that means income arrives in four lumps a year.
What is EAOK's expense ratio?
EAOK's net expense ratio, the yearly fee taken from fund assets, is 0.18% after a fee waiver of 0.12 percentage points, according to the prospectus filed November 21, 2025. The SEC's standard example assumes $10,000 invested, a 5% yearly return and shares redeemed at the end of each period. On that basis, total costs come to $18 after one year, $58 after three, $101 after five and $315 after ten. Fee waivers can be changed, so the latest prospectus is worth checking.
EAOK vs BUFR: what's the difference?
The main difference is how each tries to limit losses, which makes BUFR, the FT Vest Laddered Buffer ETF, a different strategy rather than a close substitute. EAOK dampens swings by holding about 70% in investment-grade bonds. Buffer, or defined-outcome, funds instead use options to absorb part of a stock-market loss over a set period, in exchange for a cap on gains. BUFR charges 0.95% a year versus 0.18% for EAOK. Over the year to October 27, 2026, BUFR returned 11.6% and EAOK returned 3.9%.