APRP vs. NVDY

Last updated Jul 14, 2026

APRP (PGIM US Large-Cap Buffer 12 ETF - April) and NVDY (YieldMax NVDA Option Income Strategy ETF) are both exchange-traded funds - APRP is a Options Trading fund actively managed by PGIM, while NVDY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, APRP returned 15.50% vs 24.21% for NVDY. A 0.61 correlation means they provide meaningful diversification when combined. APRP charges 0.50%/yr vs 0.99%/yr for NVDY.

Performance

APRP vs. NVDY - 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 YieldMax NVDA Option Income Strategy ETF (NVDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APRP achieves a 9.79% return, which is significantly higher than NVDY's 8.49% return.

APRP

• 1D: -0.22%
• 1M: 0.84%
• 6M: 9.36%
• YTD: 9.79%
• 1Y: 15.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDY

• 1D: -2.51%
• 1M: -0.39%
• 6M: 8.51%
• YTD: 8.49%
• 1Y: 24.21%
• 3Y*: 49.03%
• 5Y*: —
• 10Y*: —

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

APRP vs. NVDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
APRP PGIM US Large-Cap Buffer 12 ETF - April	9.79%	7.80%	10.06%
NVDY YieldMax NVDA Option Income Strategy ETF	8.49%	27.38%	38.11%

Correlation

The correlation between APRP and NVDY is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (All Time) Calculated using the full available price history since Apr 1, 2024	0.61

The correlation between APRP and NVDY has been stable across timeframes, ranging from 0.56 to 0.61 - a consistent structural relationship.

Return for Risk

APRP vs. NVDY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

APRP

APRP Risk / Return Rank: 78
APRP Sharpe Ratio Rank: 64
APRP Sortino Ratio Rank: 70
APRP Omega Ratio Rank: 96
APRP Calmar Ratio Rank: 65
APRP Martin Ratio Rank: 97

NVDY

NVDY Risk / Return Rank: 32
NVDY Sharpe Ratio Rank: 29
NVDY Sortino Ratio Rank: 28
NVDY Omega Ratio Rank: 28
NVDY Calmar Ratio Rank: 41
NVDY Martin Ratio Rank: 33

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

APRP vs. NVDY - 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 YieldMax NVDA Option Income Strategy ETF (NVDY). 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	NVDY	Difference
Sharpe ratio: Return per unit of total volatility	1.67	0.85	+0.82
Sortino ratio: Return per unit of downside risk	2.53	1.30	+1.22
Omega ratio: Gain probability vs. loss probability	1.66	1.16	+0.50
Calmar ratio: Return relative to maximum drawdown	2.56	1.66	+0.91
Martin ratio: Return relative to average drawdown	32.44	3.88	+28.55

APRP vs. NVDY - Sharpe Ratio Comparison

The current APRP Sharpe Ratio is 1.67, which is higher than the NVDY Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of APRP and NVDY, 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. NVDY - Drawdown Comparison

The maximum APRP drawdown since its inception was -13.66%, smaller than the maximum NVDY drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for APRP and NVDY.

Drawdown Indicators

	APRP	NVDY	Difference
Max Drawdown Largest peak-to-trough decline	-13.66%	-34.08%	+20.42%
Max Drawdown (1Y) Largest decline over 1 year	-6.07%	-14.67%	+8.60%
Max Drawdown (3Y) Largest decline over 3 years	—	-34.08%	—
Current Drawdown Current decline from peak	-0.22%	-10.43%	+10.21%
Average Drawdown Average peak-to-trough decline	-1.21%	-6.29%	+5.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	6.25%	-5.77%

Volatility

APRP vs. NVDY - Volatility Comparison

PGIM US Large-Cap Buffer 12 ETF - April (APRP) has a higher volatility of 8.44% compared to YieldMax NVDA Option Income Strategy ETF (NVDY) at 8.03%. This indicates that APRP's price experiences larger fluctuations and is considered to be riskier than NVDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APRP	NVDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.44%	8.03%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	8.99%	21.92%	-12.93%
Volatility (1Y) Calculated over the trailing 1-year period	9.32%	28.69%	-19.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.80%	38.02%	-27.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.80%	38.02%	-27.22%

APRP vs. NVDY - Expense Ratio Comparison

APRP has a 0.50% expense ratio, which is lower than NVDY's 0.99% expense ratio.

Dividends

APRP vs. NVDY - Dividend Comparison

APRP has not paid dividends to shareholders, while NVDY's dividend yield for the trailing twelve months is around 67.36%.

Position	TTM	2025	2024	2023
APRP PGIM US Large-Cap Buffer 12 ETF - April	0.00%	0.00%	0.00%	0.00%
NVDY YieldMax NVDA Option Income Strategy ETF	67.36%	83.10%	83.65%	22.32%

Frequently Asked Questions

Can I hold both APRP and NVDY in my portfolio?

APRP and NVDY have a correlation of 0.56, 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 NVDY?

APRP has higher volatility (8.44%) compared to NVDY (8.03%). In terms of maximum drawdown, APRP dropped -13.66% vs NVDY's -34.08%.

Which ETF is better, APRP or NVDY?

On 1-year performance, NVDY leads with 24.21% vs 15.50% for APRP. On fees, APRP is cheaper at 0.50% per year. On volatility, NVDY has been the lower-risk option at 8.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APRP or NVDY?

Over the 1-year period, NVDY has performed better with a 24.21% return vs 15.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APRP or NVDY?

APRP is cheaper with a 0.50% expense ratio, compared with 0.99% for NVDY.

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

NVDY has the higher dividend yield at 67.36%, compared with 0.00% for APRP.

What is the main difference between APRP and NVDY?

APRP is categorized as Options Trading, while NVDY is Derivative Income. They also come from different issuers: PGIM and YieldMax. Their fees differ too: 0.50% for APRP and 0.99% for NVDY.

Which has better risk-adjusted returns?

APRP currently has the higher Sharpe Ratio (1.67 vs 0.85), 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.