APRW vs. JPO

Last updated Jun 23, 2026

APRW (AllianzIM U.S. Large Cap Buffer20 Apr ETF) and JPO (YieldMax JPM Option Income Strategy ETF) are both Options Trading funds. Both are actively managed. Over the past year, APRW returned 12.48% vs 17.30% for JPO. At a 0.44 correlation, their price movements are largely independent. APRW charges 0.74%/yr vs 1.19%/yr for JPO.

Performance

APRW vs. JPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW) and YieldMax JPM Option Income Strategy ETF (JPO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APRW achieves a 6.25% return, which is significantly higher than JPO's 2.68% return.

APRW

• 1D: -0.07%
• 1M: 0.31%
• YTD: 6.25%
• 6M: 6.43%
• 1Y: 12.48%
• 3Y*: 9.95%
• 5Y*: 7.04%
• 10Y*: —

JPO

• 1D: 1.96%
• 1M: 6.38%
• YTD: 2.68%
• 6M: 2.70%
• 1Y: 17.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

APRW vs. JPO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
APRW AllianzIM U.S. Large Cap Buffer20 Apr ETF	6.25%	6.18%	11.25%	3.93%
JPO YieldMax JPM Option Income Strategy ETF	2.68%	22.26%	13.97%	4.90%

Correlation

The correlation between APRW and JPO is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Sep 12, 2023	0.44

Return for Risk

APRW vs. JPO — Risk / Return Rank

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

APRW

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

JPO

JPO Risk / Return Rank: 25
JPO Sharpe Ratio Rank: 26
JPO Sortino Ratio Rank: 24
JPO Omega Ratio Rank: 25
JPO Calmar Ratio Rank: 26
JPO Martin Ratio Rank: 24

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.

APRW vs. JPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW) and YieldMax JPM Option Income Strategy ETF (JPO). 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.

	APRW	JPO	Difference
Sharpe ratio: Return per unit of total volatility	4.66	0.91	+3.75
Sortino ratio: Return per unit of downside risk	8.31	1.28	+7.03
Omega ratio: Gain probability vs. loss probability	2.18	1.17	+1.01
Calmar ratio: Return relative to maximum drawdown	14.03	1.22	+12.81
Martin ratio: Return relative to average drawdown	75.16	3.01	+72.15

APRW vs. JPO - Sharpe Ratio Comparison

The current APRW Sharpe Ratio is 4.66, which is higher than the JPO Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of APRW and JPO, 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

APRW vs. JPO - Drawdown Comparison

The maximum APRW drawdown since its inception was -9.61%, smaller than the maximum JPO drawdown of -24.80%. Use the drawdown chart below to compare losses from any high point for APRW and JPO.

Drawdown Indicators

	APRW	JPO	Difference
Max Drawdown Largest peak-to-trough decline	-9.61%	-24.80%	+15.19%
Max Drawdown (1Y) Largest decline over 1 year	-0.89%	-14.24%	+13.35%
Max Drawdown (3Y) Largest decline over 3 years	-9.61%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.61%	—	—
Current Drawdown Current decline from peak	-0.16%	-0.35%	+0.19%
Average Drawdown Average peak-to-trough decline	-1.11%	-4.57%	+3.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.17%	5.76%	-5.59%

Volatility

APRW vs. JPO - Volatility Comparison

The current volatility for AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW) is 1.09%, while YieldMax JPM Option Income Strategy ETF (JPO) has a volatility of 6.04%. This indicates that APRW experiences smaller price fluctuations and is considered to be less risky than JPO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APRW	JPO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.09%	6.04%	-4.95%
Volatility (6M) Calculated over the trailing 6-month period	2.10%	14.69%	-12.59%
Volatility (1Y) Calculated over the trailing 1-year period	2.69%	19.16%	-16.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.73%	19.11%	-12.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.40%	19.11%	-12.71%

APRW vs. JPO - Expense Ratio Comparison

APRW has a 0.74% expense ratio, which is lower than JPO's 1.19% expense ratio.

Dividends

APRW vs. JPO - Dividend Comparison

APRW has not paid dividends to shareholders, while JPO's dividend yield for the trailing twelve months is around 32.05%.

Position	TTM	2025	2024	2023	2022	2021	2020
APRW AllianzIM U.S. Large Cap Buffer20 Apr ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.67%
JPO YieldMax JPM Option Income Strategy ETF	32.05%	34.13%	25.15%	4.84%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both APRW and JPO in my portfolio?

APRW and JPO have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APRW or JPO?

JPO has higher volatility (6.04%) compared to APRW (1.09%). In terms of maximum drawdown, APRW dropped -9.61% vs JPO's -24.80%.

Which ETF is better, APRW or JPO?

On 1-year performance, JPO leads with 17.30% vs 12.48% for APRW. On fees, APRW is cheaper at 0.74% per year. On volatility, APRW has been the lower-risk option at 1.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APRW or JPO?

Over the 1-year period, JPO has performed better with a 17.30% return vs 12.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APRW or JPO?

APRW is cheaper with a 0.74% expense ratio, compared with 1.19% for JPO.

Which ETF pays a higher dividend yield, APRW or JPO?

JPO has the higher dividend yield at 32.05%, compared with 0.00% for APRW.

What is the main difference between APRW and JPO?

They also come from different issuers: Allianz and Tidal. Their fees differ too: 0.74% for APRW and 1.19% for JPO.

Which has better risk-adjusted returns?

APRW currently has the higher Sharpe Ratio (4.66 vs 0.91), 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.