APRP vs. IWMY

Last updated Aug 4, 2026

APRP (PGIM US Large-Cap Buffer 12 ETF - April) and IWMY (Defiance R2000 Weekly Distribution ETF) are both Options Trading funds. Both are actively managed. Over the past year, APRP returned 16.46% vs 21.52% for IWMY. Their 0.72 correlation means they have sometimes moved together and sometimes differently. APRP charges 0.50%/yr vs 1.05%/yr for IWMY.

Performance

APRP vs. IWMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM US Large-Cap Buffer 12 ETF - April (APRP) and Defiance R2000 Weekly Distribution ETF (IWMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APRP achieves a 10.78% return, which is significantly lower than IWMY's 15.27% return.

APRP

• 1D: 0.37%
• 1M: 1.17%
• 6M: 10.02%
• YTD: 10.78%
• 1Y: 16.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.40%

IWMY

• 1D: 1.69%
• 1M: -0.31%
• 6M: 10.17%
• YTD: 15.27%
• 1Y: 21.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.16%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
APRP PGIM US Large-Cap Buffer 12 ETF - April	$92.96K	$114.08K	$127.84K
IWMY Defiance R2000 Weekly Distribution ETF	$647.71K	$735.48K	$1.03M

APRP vs. IWMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
APRP PGIM US Large-Cap Buffer 12 ETF - April	10.78%	7.80%	10.06%
IWMY Defiance R2000 Weekly Distribution ETF	15.27%	10.18%	2.87%

Correlation

The correlation between APRP and IWMY is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.74
Correlation (All Time) Calculated using the full available price history since Apr 1, 2024	0.72

The correlation between APRP and IWMY has been stable across timeframes, ranging from 0.72 to 0.74 - a consistent structural relationship.

Return for Risk

APRP vs. IWMY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

APRP

APRP Risk / Return Rank: 82
APRP Sharpe Ratio Rank: 71
APRP Sortino Ratio Rank: 76
APRP Omega Ratio Rank: 96
APRP Calmar Ratio Rank: 72
APRP Martin Ratio Rank: 97

IWMY

IWMY Risk / Return Rank: 51
IWMY Sharpe Ratio Rank: 53
IWMY Sortino Ratio Rank: 50
IWMY Omega Ratio Rank: 49
IWMY Calmar Ratio Rank: 51
IWMY Martin Ratio Rank: 51

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

APRP vs. IWMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM US Large-Cap Buffer 12 ETF - April (APRP) and Defiance R2000 Weekly Distribution ETF (IWMY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	APRP	IWMY	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.33	+0.44
Sortino ratio: Return per unit of downside risk	2.65	1.85	+0.81
Omega ratio: Gain probability vs. loss probability	1.67	1.23	+0.44
Calmar ratio: Return relative to maximum drawdown	2.72	1.87	+0.85
Martin ratio: Return relative to average drawdown	33.90	6.07	+27.83

APRP vs. IWMY - Sharpe Ratio Comparison

The current APRP Sharpe Ratio is 1.77, which is higher than the IWMY Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of APRP and IWMY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

APRP vs. IWMY - Drawdown Comparison

The maximum APRP drawdown since its inception was -13.66%, smaller than the maximum IWMY drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for APRP and IWMY.

Drawdown Indicators

	APRP	IWMY	Difference
Max Drawdown Largest peak-to-trough decline	-13.66%	-18.72%	+5.06%
Max Drawdown (1Y) Largest decline over 1 year	-6.07%	-11.57%	+5.50%
Current Drawdown Current decline from peak	0.00%	-0.99%	+0.99%
Average Drawdown Average peak-to-trough decline	-1.19%	-2.88%	+1.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.49%	3.56%	-3.07%

Volatility

APRP vs. IWMY - Volatility Comparison

The current volatility for PGIM US Large-Cap Buffer 12 ETF - April (APRP) is 1.41%, while Defiance R2000 Weekly Distribution ETF (IWMY) has a volatility of 3.81%. This indicates that APRP experiences smaller price fluctuations and is considered to be less risky than IWMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APRP	IWMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	3.81%	-2.40%
Volatility (6M) Calculated over the trailing 6-month period	9.06%	13.49%	-4.43%
Volatility (1Y) Calculated over the trailing 1-year period	9.38%	16.34%	-6.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.70%	15.80%	-5.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.70%	15.80%	-5.10%

APRP vs. IWMY - Expense Ratio Comparison

APRP has a 0.50% expense ratio, which is lower than IWMY's 1.05% expense ratio.

Dividends

APRP vs. IWMY - Dividend Comparison

APRP has not paid dividends to shareholders, while IWMY's dividend yield for the trailing twelve months is around 41.16%.

Position	TTM	2025	2024	2023
APRP PGIM US Large-Cap Buffer 12 ETF - April	0.00%	0.00%	0.00%	0.00%
IWMY Defiance R2000 Weekly Distribution ETF	41.16%	63.33%	107.92%	11.34%

Frequently Asked Questions

Can I hold both APRP and IWMY in my portfolio?

APRP and IWMY have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APRP or IWMY?

IWMY has higher volatility (3.81%) compared to APRP (1.41%). In terms of maximum drawdown, APRP dropped -13.66% vs IWMY's -18.72%.

Which ETF is better, APRP or IWMY?

On 1-year performance, IWMY leads with 21.52% vs 16.46% for APRP. On fees, APRP is cheaper at 0.50% per year. On volatility, APRP has been the lower-risk option at 1.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APRP or IWMY?

Over the 1-year period, IWMY has performed better with a 21.52% return vs 16.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APRP or IWMY?

APRP is cheaper with a 0.50% expense ratio, compared with 1.05% for IWMY.

Which ETF pays a higher dividend yield, APRP or IWMY?

IWMY has the higher dividend yield at 41.16%, compared with 0.00% for APRP.

What is the main difference between APRP and IWMY?

They also come from different issuers: PGIM and Defiance. Their fees differ too: 0.50% for APRP and 1.05% for IWMY.

Which has better risk-adjusted returns?

APRP currently has the higher Sharpe Ratio (1.77 vs 1.33), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.