AOR is one of four iShares Core target-risk ETFs. The fund is a fund-of-funds that attempts to provide exposure to a global portfolio of iShares ETFs, with 60% allocation to equity and 40% allocation to fixed income. The underlying index uses a proprietary allocation model that aims to represent a conservative target-risk allocation strategy. The fund invests exclusively in iShares ETFs as it seeks exposure to a variety of fixed-income and equity funds. The underlying indexs exposure to fixed income, intends to produce a current income stream and avoid excessive volatility of returns while the equities included seeks to protect long-term purchasing power. The index is rebalanced semi-annually starting October.