APRT vs. PHEQ

Last updated Jun 4, 2026

APRT (AllianzIM U.S. Large Cap Buffer10 Apr ETF) and PHEQ (Parametric Hedged Equity ETF) are both Options Trading funds. Both are actively managed. Over the past year, APRT returned 19.10% vs 15.97% for PHEQ. A 0.79 correlation means they provide meaningful diversification when combined. APRT charges 0.74%/yr vs 0.29%/yr for PHEQ.

Performance

APRT vs. PHEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT) and Parametric Hedged Equity ETF (PHEQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APRT achieves a 9.89% return, which is significantly higher than PHEQ's 5.67% return.

APRT

• 1D: -0.20%
• 1M: 2.07%
• YTD: 9.89%
• 6M: 10.85%
• 1Y: 19.10%
• 3Y*: 14.42%
• 5Y*: 10.64%
• 10Y*: —

PHEQ

• 1D: -0.18%
• 1M: 1.64%
• YTD: 5.67%
• 6M: 6.14%
• 1Y: 15.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

APRT vs. PHEQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF	9.89%	7.99%	15.15%	8.75%
PHEQ Parametric Hedged Equity ETF	5.67%	11.76%	14.94%	7.19%

Correlation

The correlation between APRT and PHEQ is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 20, 2023	0.79

The correlation between APRT and PHEQ has been stable across timeframes, ranging from 0.79 to 0.87 - a consistent structural relationship.

APRT vs. PHEQ - Sectors Allocation Comparison

Sectors	APRT	PHEQ
Technology	36.2%	35.4%
Financial Services	11.9%	11.3%
Communication Services	10.9%	11.8%
Consumer Cyclical	10.1%	10.2%
Healthcare	8.4%	8.6%
Industrials	8.1%	8.3%
Consumer Defensive	4.9%	5.0%
Energy	3.5%	3.7%
Utilities	2.3%	2.4%
Real Estate	1.9%	1.6%
Basic Materials	1.8%	1.7%

Return for Risk

APRT vs. PHEQ — Risk / Return Rank

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

APRT

APRT Risk / Return Rank: 97
APRT Sharpe Ratio Rank: 95
APRT Sortino Ratio Rank: 98
APRT Omega Ratio Rank: 97
APRT Calmar Ratio Rank: 97
APRT Martin Ratio Rank: 98

PHEQ

PHEQ Risk / Return Rank: 82
PHEQ Sharpe Ratio Rank: 80
PHEQ Sortino Ratio Rank: 86
PHEQ Omega Ratio Rank: 84
PHEQ Calmar Ratio Rank: 75
PHEQ Martin Ratio Rank: 84

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.

APRT vs. PHEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT) and Parametric Hedged Equity ETF (PHEQ). 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.

	APRT	PHEQ	Difference
Sharpe ratio: Return per unit of total volatility	3.83	2.62	+1.21
Sortino ratio: Return per unit of downside risk	6.77	3.92	+2.84
Omega ratio: Gain probability vs. loss probability	1.97	1.52	+0.46
Calmar ratio: Return relative to maximum drawdown	12.06	3.77	+8.29
Martin ratio: Return relative to average drawdown	65.68	17.21	+48.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APRT vs. PHEQ - Sharpe Ratio Comparison

The current APRT Sharpe Ratio is 3.83, which is higher than the PHEQ Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of APRT and PHEQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	APRT	PHEQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.83	2.62	+1.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.99	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	1.80	-0.69

Drawdowns

APRT vs. PHEQ - Drawdown Comparison

The maximum APRT drawdown since its inception was -14.98%, which is greater than PHEQ's maximum drawdown of -12.55%. Use the drawdown chart below to compare losses from any high point for APRT and PHEQ.

Drawdown Indicators

	APRT	PHEQ	Difference
Max Drawdown Largest peak-to-trough decline	-14.98%	-12.55%	-2.43%
Max Drawdown (1Y) Largest decline over 1 year	-1.59%	-4.26%	+2.67%
Max Drawdown (3Y) Largest decline over 3 years	-14.98%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.98%	—	—
Current Drawdown Current decline from peak	-0.20%	-0.18%	-0.02%
Average Drawdown Average peak-to-trough decline	-2.05%	-0.97%	-1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.29%	0.93%	-0.64%

Volatility

APRT vs. PHEQ - Volatility Comparison

AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT) and Parametric Hedged Equity ETF (PHEQ) have volatilities of 1.01% and 1.05%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APRT	PHEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.01%	1.05%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	3.99%	4.56%	-0.57%
Volatility (1Y) Calculated over the trailing 1-year period	5.02%	6.16%	-1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.78%	8.62%	+2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.29%	8.62%	+1.67%

APRT vs. PHEQ - Expense Ratio Comparison

APRT has a 0.74% expense ratio, which is higher than PHEQ's 0.29% expense ratio.

Dividends

APRT vs. PHEQ - Dividend Comparison

APRT has not paid dividends to shareholders, while PHEQ's dividend yield for the trailing twelve months is around 1.03%.

Position	TTM	2025	2024	2023	2022	2021	2020
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.67%
PHEQ Parametric Hedged Equity ETF	1.03%	1.19%	1.39%	1.73%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both APRT and PHEQ in my portfolio?

APRT and PHEQ have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APRT or PHEQ?

PHEQ has higher volatility (1.05%) compared to APRT (1.01%). In terms of maximum drawdown, APRT dropped -14.98% vs PHEQ's -12.55%.

Which ETF is better, APRT or PHEQ?

On 1-year performance, APRT leads with 19.10% vs 15.97% for PHEQ. On fees, PHEQ is cheaper at 0.29% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APRT or PHEQ?

Over the 1-year period, APRT has performed better with a 19.10% return vs 15.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APRT or PHEQ?

PHEQ is cheaper with a 0.29% expense ratio, compared with 0.74% for APRT.

Which ETF pays a higher dividend yield, APRT or PHEQ?

PHEQ has the higher dividend yield at 1.03%, compared with 0.00% for APRT.

What is the main difference between APRT and PHEQ?

They also come from different issuers: Allianz and Parametric. Their fees differ too: 0.74% for APRT and 0.29% for PHEQ.

Which has better risk-adjusted returns?

APRT currently has the higher Sharpe Ratio (3.83 vs 2.62), 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.