At a glance
EAOM charges 0.18% a year, below the 0.86% average of the 7 funds most like it (the cheapest of 8). It has $9.3M in assets, the 8th largest of that group; it paid 2.24% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +5.6% with distributions reinvested (S&P 500: +11.5%), the weakest of those 8 funds; over three years it returned +12.6% a year. At its worst it fell 19.6% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 21 months after the low.
The short version
iShares ESG Aware 40/60 Moderate Allocation ETF (EAOM) is a fund of funds: it holds five iShares ESG Aware ETFs to track the BlackRock ESG Aware Moderate Allocation Index, which targets 60% investment-grade (higher-quality) bonds and 40% U.S. and international stocks. It packs a moderate, ESG-focused (environmental, social and governance) portfolio into one fund for net expenses of 0.18% a year. The catch: just $9.3 million in net assets as of July 31, 2026.
Price history
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EAOM +5.6% 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 | |
|---|---|---|---|---|---|---|
| EAOM official prospectus, to Dec 31, 2024 | — | +7.39% | — | — | — | +4.12% |
| Bloomberg US Universal Index index, same period | — | +2.04% | — | — | — | -0.95% |
| MSCI All Country World Index Net index, same period | — | +17.49% | — | — | — | +13.12% |
| EAOM price data to Oct 27, 2026 | +5.7% | +5.6% | +12.6% | +4.0% | — | +4.4% |
- Over the year to Oct 27, 2026, EAOM returned +5.6%, 8th of 8 among similar funds.
- Its 5-year annualized return was +4.0%.
- Its worst full calendar year was 2022 (-15.5%); its best was 2025 (+12.9%).
- The deepest fall in its price history was 20.8% (Nov 9, 2021 to Oct 14, 2022), recovered by Aug 16, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +5.7% | — |
| 2025 | +12.9% | — |
| 2024 | +7.3% | +7.39% |
| 2023 | +11.8% | +11.82% |
| 2022 | -15.5% | -15.79% |
| 2021 | — | +6.75% |
| 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 19.6% over that stretch · deepest drop along the way 19.6%, back to its old high 21 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.4200 | |
| 2025 | $0.8600 | +8.9% |
| 2024 | $0.7900 | +12.9% |
| 2023 | $0.7000 | +52.2% |
| 2022 | $0.4600 |
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 U.S. Aggregate Bond ETF Other | 58.13% | |
| iShares ESG Aware MSCI USA ETF Other | 25.69% | |
| iShares ESG Aware MSCI EAFE ETF Other | 8.77% | |
| iShares ESG Aware MSCI EM ETF Other | 4.72% | |
| iShares ESG Aware MSCI USA Small-Cap ETF Other | 2.59% |
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 $779K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +2.17%, +0.18%, -0.99%.
How it works
EAOM is a fund of funds: it owns other iShares ETFs, not individual stocks or bonds. It tracks the BlackRock ESG Aware Moderate Allocation Index, sponsored by a BlackRock affiliate, which targets 60% in funds of U.S. dollar investment-grade (higher-quality) bonds and 40% in stock funds. As of July 31, 2026, the iShares ESG Aware U.S. Aggregate Bond ETF was 58.1% of assets, followed by the ESG Aware MSCI USA (25.7%), MSCI EAFE (8.8%, developed markets abroad), MSCI EM (4.7%, emerging markets) and MSCI USA Small-Cap (2.6%) ETFs.
The index rebalances twice a year, after the close on the last business day of April and October, when the fund realigns with the 60% bond, 40% stock target. In between, the mix drifts with markets. ESG choices happen inside each underlying fund, which favors issuers its own index provider rates positively on environmental, social and governance traits.
The fund keeps at least 80% in index components and may put up to 20% in futures, options, swaps, cash and other securities; it reported no derivatives as of July 31, 2026. It may lend securities worth up to one-third of its assets. Because all five holdings are BlackRock's own iShares ETFs, the prospectus flags possible conflicts of interest in choosing or swapping them, tied to the fees some of them pay BlackRock.
What it really costs
- EAOM 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 0.13% 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 $322 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| EAOM | $18 | $58 | $101 | $322 |
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 holds a complete, rebalanced mix of about 60% bonds and 40% U.S. and international stocks, so it could anchor a moderate portfolio on its own rather than fill one slice.
EAOM could give a retirement portfolio a ready-made moderate mix, rebalanced twice a year, at a 0.18% expense ratio: $18 on $10,000 over one year and $322 over 10 years in the SEC's standard example. Launched in June 2020, it has no record from the 2008 crisis or the 2020 COVID crash. In the 2022 bear market it fell 19.6%, and it lost 15.79% for calendar 2022, its worst year. Its deepest drop, 20.8%, bottomed on October 14, 2022 and took about 22 months to recover, on August 16, 2024. Cashing out shares near that low would have locked in losses.
Income is modest: payouts over the 12 months to October 27, 2026 equaled a 2.24% yield, paid twice a year. Past results don't predict the future, and a retirement plan needs to consider the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting one fund that targets 60% investment-grade bonds and 40% stocks, rebalanced each April and October, for 0.18% a year.
- Investors who want an ESG tilt across U.S. large- and small-cap, developed international and emerging-market stocks, plus U.S. dollar investment-grade bonds.
- Investors comfortable with moderate swings: its worst quarter was a 9.08% loss, in the three months to June 30, 2022.
Look elsewhere if
- Investors wary of very small funds: EAOM had just $9.3 million in net assets as of July 31, 2026.
- Investors who don't want ESG criteria; the prospectus warns they may limit choices and cause the fund to trail funds without them.
- Those expecting bonds to cushion every slump: despite its 60% bond target, EAOM lost 15.79% in 2022 and didn't recover until August 2024.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| EAOM this fund | 0.18% | $9.3M | +5.6% | +12.6% |
| 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 EAOM a good ETF for retirement?
It can serve as a core holding for retirees who want a moderate stock-and-bond mix in one fund. EAOM targets 60% investment-grade bonds and 40% stocks, rebalances every April and October, and charges 0.18% a year. The trade-offs: a modest 2.24% trailing yield as of October 27, 2026, paid twice a year; a 15.79% loss in 2022; and just $9.3 million in net assets as of July 31, 2026. Past results don't predict future ones.
What does EAOM invest in?
EAOM invests in five other iShares ETFs. As of July 31, 2026, the iShares ESG Aware U.S. Aggregate Bond ETF made up 58.1%, iShares ESG Aware MSCI USA ETF 25.7%, iShares ESG Aware MSCI EAFE ETF (developed markets outside North America) 8.8%, iShares ESG Aware MSCI EM ETF (emerging markets) 4.7% and iShares ESG Aware MSCI USA Small-Cap ETF 2.6%. As of July 31, 2025, a significant share of its index was indirectly in U.S. Treasuries and securitized bonds (backed by pools of loans such as mortgages).
How often does EAOM pay dividends?
EAOM pays twice a year. Over the 12 months to October 27, 2026, it paid about $0.70 a share, a trailing yield of 2.24%. The payouts pass along interest and dividends from its underlying iShares funds, so amounts can change from one payment to the next. For anyone relying on monthly income, the gaps between payments can be long.
What is EAOM's average annual return?
EAOM returned 4.12% a year from its June 12, 2020 launch through December 31, 2024, per its prospectus. That trailed the MSCI All Country World Index Net, a global stock index, at 13.12%, but beat the Bloomberg US Universal Index, a broad bond index, which lost 0.95% a year. By calendar year, it gained 6.75% in 2021, lost 15.79% in 2022, then gained 11.82% in 2023 and 7.39% in 2024. Based on market prices, it returned about 4% a year over the five years to October 27, 2026.
What is EAOM's expense ratio?
EAOM's net expense ratio, the yearly cost as a share of assets, is 0.18%, after a 0.13% fee waiver, according to its prospectus filed November 21, 2025. In the SEC's standard example ($10,000 invested, 5% yearly return), costs would total $18 after one year, $101 after five and $322 after 10. That's far below the 0.79% to 0.95% charged by large buffer ETFs such as FT Vest Laddered Buffer ETF (BUFR), though those use a different, options-based strategy and aren't close substitutes.