APRT vs. USL

Last updated Jun 4, 2026

APRT (AllianzIM U.S. Large Cap Buffer10 Apr ETF) and USL (United States 12 Month Oil Fund LP) are both exchange-traded funds - APRT is a Options Trading fund actively managed by Allianz, while USL is a Oil & Gas fund tracking the 12 Month Light Sweet Crude Oil. APRT is actively managed, while USL is passively managed. Over the past 5 years, APRT returned 10.64%/yr vs 17.41%/yr for USL. At a 0.11 correlation, their price movements are largely independent. APRT charges 0.74%/yr vs 0.88%/yr for USL.

Performance

APRT vs. USL - 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 United States 12 Month Oil Fund LP (USL). 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 lower than USL's 63.07% return.

APRT

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

USL

• 1D: 1.55%
• 1M: -1.61%
• YTD: 63.07%
• 6M: 59.66%
• 1Y: 57.86%
• 3Y*: 18.42%
• 5Y*: 17.41%
• 10Y*: 10.91%

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

APRT vs. USL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF	9.89%	7.99%	15.15%	22.13%	-6.41%	11.89%	9.09%
USL United States 12 Month Oil Fund LP	63.07%	-12.37%	8.30%	-1.11%	27.10%	62.48%	24.84%

Correlation

The correlation between APRT and USL is -0.28, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.28
Correlation (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (All Time) Calculated using the full available price history since Jun 2, 2020	0.11

The correlation between APRT and USL shifts across timeframes, from -0.28 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.

APRT vs. USL - Sectors Allocation Comparison

Sectors	APRT	USL
Technology	36.2%	-
Financial Services	11.9%	4.5%
Communication Services	10.9%	-
Consumer Cyclical	10.1%	-
Healthcare	8.4%	-
Industrials	8.1%	-
Consumer Defensive	4.9%	-
Energy	3.5%	-
Utilities	2.3%	-
Real Estate	1.9%	-
Basic Materials	1.8%	-

Return for Risk

APRT vs. USL — 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

USL

USL Risk / Return Rank: 56
USL Sharpe Ratio Rank: 59
USL Sortino Ratio Rank: 53
USL Omega Ratio Rank: 54
USL Calmar Ratio Rank: 69
USL Martin Ratio Rank: 43

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. USL - 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 United States 12 Month Oil Fund LP (USL). 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	USL	Difference
Sharpe ratio: Return per unit of total volatility	3.83	2.04	+1.79
Sortino ratio: Return per unit of downside risk	6.77	2.58	+4.18
Omega ratio: Gain probability vs. loss probability	1.97	1.34	+0.64
Calmar ratio: Return relative to maximum drawdown	12.06	3.47	+8.59
Martin ratio: Return relative to average drawdown	65.68	7.02	+58.66
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. USL - Sharpe Ratio Comparison

The current APRT Sharpe Ratio is 3.83, which is higher than the USL Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of APRT and USL, 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	USL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.83	2.04	+1.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.99	0.58	+0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	0.01	+1.10

Drawdowns

APRT vs. USL - Drawdown Comparison

The maximum APRT drawdown since its inception was -14.98%, smaller than the maximum USL drawdown of -89.06%. Use the drawdown chart below to compare losses from any high point for APRT and USL.

Drawdown Indicators

	APRT	USL	Difference
Max Drawdown Largest peak-to-trough decline	-14.98%	-89.06%	+74.08%
Max Drawdown (1Y) Largest decline over 1 year	-1.59%	-16.76%	+15.17%
Max Drawdown (3Y) Largest decline over 3 years	-14.98%	-23.33%	+8.35%
Max Drawdown (5Y) Largest decline over 5 years	-14.98%	-33.82%	+18.84%
Max Drawdown (10Y) Largest decline over 10 years	—	-66.02%	—
Current Drawdown Current decline from peak	-0.20%	-38.16%	+37.96%
Average Drawdown Average peak-to-trough decline	-2.05%	-61.46%	+59.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.29%	8.27%	-7.98%

Volatility

APRT vs. USL - Volatility Comparison

The current volatility for AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT) is 1.01%, while United States 12 Month Oil Fund LP (USL) has a volatility of 10.53%. This indicates that APRT experiences smaller price fluctuations and is considered to be less risky than USL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APRT	USL	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.01%	10.53%	-9.52%
Volatility (6M) Calculated over the trailing 6-month period	3.99%	23.33%	-19.34%
Volatility (1Y) Calculated over the trailing 1-year period	5.02%	28.54%	-23.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.78%	30.08%	-19.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.29%	32.35%	-22.06%

APRT vs. USL - Expense Ratio Comparison

APRT has a 0.74% expense ratio, which is lower than USL's 0.88% expense ratio.

Dividends

APRT vs. USL - Dividend Comparison

Neither APRT nor USL has paid dividends to shareholders.

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%
USL United States 12 Month Oil Fund LP	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both APRT and USL in my portfolio?

APRT and USL have a correlation of -0.28, 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 USL?

USL has higher volatility (10.53%) compared to APRT (1.01%). In terms of maximum drawdown, APRT dropped -14.98% vs USL's -89.06%.

Which ETF is better, APRT or USL?

On 5-year performance, USL leads with 17.41% vs 10.64% for APRT. On fees, APRT is cheaper at 0.74% per year. On volatility, APRT has been the lower-risk option at 1.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APRT or USL?

Over the 5-year period, USL has performed better with a 17.41% return vs 10.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APRT or USL?

APRT is cheaper with a 0.74% expense ratio, compared with 0.88% for USL.

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

APRT and USL have nearly identical dividend yields, around 0.00%.

What is the main difference between APRT and USL?

APRT is categorized as Options Trading, while USL is Oil & Gas. They also come from different issuers: Allianz and Concierge Technologies. Their fees differ too: 0.74% for APRT and 0.88% for USL.

Which has better risk-adjusted returns?

APRT currently has the higher Sharpe Ratio (3.83 vs 2.04), 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.