APRT vs. PHEQ

Last updated Apr 1, 2026

Compare and contrast key facts about AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT) and Parametric Hedged Equity ETF (PHEQ).

APRT and PHEQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. APRT is an actively managed fund by Allianz. It was launched on May 28, 2020. PHEQ is an actively managed fund by Parametric. It was launched on Oct 16, 2023.

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.

APRT vs. PHEQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF	2.08%	7.99%	15.15%	8.75%
PHEQ Parametric Hedged Equity ETF	-1.79%	11.76%	14.94%	7.19%

Returns By Period

In the year-to-date period, APRT achieves a 2.08% return, which is significantly higher than PHEQ's -1.79% return.

APRT

• 1D: 2.34%
• 1M: 0.97%
• YTD: 2.08%
• 6M: 4.40%
• 1Y: 14.62%
• 3Y*: 12.89%
• 5Y*: 9.79%
• 10Y*: —

PHEQ

• 1D: 1.45%
• 1M: -1.97%
• YTD: -1.79%
• 6M: 0.42%
• 1Y: 12.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

APRT vs. PHEQ - Expense Ratio Comparison

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

APRT

AllianzIM U.S. Large Cap Buffer10 Apr ETF

PHEQ

Parametric Hedged Equity ETF

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: 81
APRT Sharpe Ratio Rank: 74
APRT Sortino Ratio Rank: 79
APRT Omega Ratio Rank: 93
APRT Calmar Ratio Rank: 69
APRT Martin Ratio Rank: 90

PHEQ

PHEQ Risk / Return Rank: 74
PHEQ Sharpe Ratio Rank: 70
PHEQ Sortino Ratio Rank: 73
PHEQ Omega Ratio Rank: 80
PHEQ Calmar Ratio Rank: 68
PHEQ Martin Ratio Rank: 81

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	1.34	1.22	+0.12
Sortino ratio Return per unit of downside risk	2.04	1.82	+0.22
Omega ratio Gain probability vs. loss probability	1.43	1.30	+0.13
Calmar ratio Return relative to maximum drawdown	1.77	1.69	+0.08
Martin ratio Return relative to average drawdown	11.67	8.74	+2.94
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 1.34, which is comparable to the PHEQ Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of APRT and PHEQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	APRT	PHEQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	1.22	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.91	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	1.51	-0.51

Correlation

The correlation between APRT and PHEQ is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

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 1.10%.

	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	1.10%	1.19%	1.39%	1.73%	0.00%	0.00%	0.00%

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	-8.70%	-7.85%	-0.85%
Max Drawdown (5Y) Largest decline over 5 years	-14.98%	—	—
Current Drawdown Current decline from peak	0.00%	-2.78%	+2.78%
Average Drawdown Average peak-to-trough decline	-2.11%	-1.02%	-1.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.32%	1.52%	-0.20%

Volatility

APRT vs. PHEQ - Volatility Comparison

AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT) has a higher volatility of 3.02% compared to Parametric Hedged Equity ETF (PHEQ) at 2.86%. This indicates that APRT's price experiences larger fluctuations and is considered to be riskier than PHEQ based on this measure. 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	3.02%	2.86%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	3.81%	4.82%	-1.01%
Volatility (1Y) Calculated over the trailing 1-year period	10.98%	10.65%	+0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.82%	8.78%	+2.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.40%	8.78%	+1.62%