APRT vs. SPY
APRT (AllianzIM U.S. Large Cap Buffer10 Apr ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - APRT is a Options Trading fund actively managed by Allianz, while SPY is a S&P 500 fund tracking the S&P 500 Index. APRT is actively managed, while SPY is passively managed. Over the past 5 years, APRT returned 10.50%/yr vs 13.51%/yr for SPY. Their correlation of 0.94 suggests significant overlap in exposure. APRT charges 0.74%/yr vs 0.09%/yr for SPY.
Performance
APRT vs. SPY - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with APRT having a 9.83% return and SPY slightly lower at 9.74%.
APRT
- 1D
- -0.11%
- 1M
- 0.44%
- YTD
- 9.83%
- 6M
- 9.98%
- 1Y
- 18.87%
- 3Y*
- 13.89%
- 5Y*
- 10.50%
- 10Y*
- —
SPY
- 1D
- -0.31%
- 1M
- 0.09%
- YTD
- 9.74%
- 6M
- 9.27%
- 1Y
- 26.65%
- 3Y*
- 21.27%
- 5Y*
- 13.51%
- 10Y*
- 15.70%
APRT vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF | 9.83% | 7.99% | 15.15% | 22.13% | -6.41% | 11.89% | 9.46% |
SPY State Street SPDR S&P 500 ETF | 9.74% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 24.42% |
Correlation
The correlation between APRT and SPY is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2020 | 0.94 |
The correlation between APRT and SPY has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
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Return for Risk
APRT vs. SPY — Risk / Return Rank
APRT
SPY
APRT vs. SPY - 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 State Street SPDR S&P 500 ETF (SPY). 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.
| APRT | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.55 | ||
| Sortino ratioReturn per unit of downside risk | +3.46 | ||
| Omega ratioGain probability vs. loss probability | 1.93 | 1.39 | +0.54 |
| Calmar ratioReturn relative to maximum drawdown | 11.91 | 3.01 | +8.90 |
| Martin ratioReturn relative to average drawdown | 58.04 | 13.54 | +44.51 |
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Drawdowns
APRT vs. SPY - Drawdown Comparison
The maximum APRT drawdown since its inception was -14.98%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for APRT and SPY.
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Drawdown Indicators
| APRT | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.98% | -55.19% | +40.21% |
Max Drawdown (1Y)Largest decline over 1 year | -1.59% | -8.88% | +7.29% |
Max Drawdown (3Y)Largest decline over 3 years | -14.98% | -18.76% | +3.78% |
Max Drawdown (5Y)Largest decline over 5 years | -14.98% | -24.50% | +9.52% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -0.26% | -1.75% | +1.49% |
Average DrawdownAverage peak-to-trough decline | -2.04% | -9.04% | +7.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.33% | 1.97% | -1.64% |
Volatility
APRT vs. SPY - Volatility Comparison
The current volatility for AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT) is 1.73%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 4.64%. This indicates that APRT experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APRT | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.73% | 4.64% | -2.91% |
Volatility (6M)Calculated over the trailing 6-month period | 4.29% | 9.75% | -5.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.12% | 12.43% | -7.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.79% | 17.14% | -6.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.27% | 17.99% | -7.72% |
APRT vs. SPY - Expense Ratio Comparison
APRT has a 0.74% expense ratio, which is higher than SPY's 0.09% expense ratio.
Dividends
APRT vs. SPY - Dividend Comparison
APRT has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.01%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 4.67% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.01% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
With a correlation of 0.93, APRT and SPY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SPY has higher volatility (4.64%) compared to APRT (1.73%). In terms of maximum drawdown, APRT dropped -14.98% vs SPY's -55.19%.
On 5-year performance, SPY leads with 13.51% vs 10.50% for APRT. On fees, SPY is cheaper at 0.09% per year. On volatility, APRT has been the lower-risk option at 1.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPY has performed better with a 13.51% return vs 10.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPY is cheaper with a 0.09% expense ratio, compared with 0.74% for APRT.
SPY has the higher dividend yield at 1.01%, compared with 0.00% for APRT.
APRT is categorized as Options Trading, while SPY is S&P 500. They also come from different issuers: Allianz and State Street. Their fees differ too: 0.74% for APRT and 0.09% for SPY.
APRT currently has the higher Sharpe Ratio (3.71 vs 2.16), 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.
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