APRZ vs. AIOO

Last updated Jun 5, 2026

APRZ (TrueShares Structured Outcome (April) ETF) and AIOO (AllianzIM U.S. Equity Buffer100 Protection ETF) are both Defined Outcome funds. APRZ is passively managed, while AIOO is actively managed. A 0.79 correlation means they provide meaningful diversification when combined. APRZ charges 0.79%/yr vs 0.64%/yr for AIOO.

Performance

APRZ vs. AIOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Structured Outcome (April) ETF (APRZ) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APRZ achieves a 7.75% return, which is significantly higher than AIOO's 2.38% return.

APRZ

• 1D: 0.30%
• 1M: 3.83%
• YTD: 7.75%
• 6M: 7.58%
• 1Y: 20.54%
• 3Y*: 16.38%
• 5Y*: 11.25%
• 10Y*: —

AIOO

• 1D: 0.04%
• 1M: 0.98%
• YTD: 2.38%
• 6M: 2.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

APRZ vs. AIOO - Yearly Performance Comparison

	2026 (YTD)	2025
APRZ TrueShares Structured Outcome (April) ETF	7.75%	8.62%
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	2.38%	2.67%

Correlation

The correlation between APRZ and AIOO is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 2, 2025	0.79

Return for Risk

APRZ vs. AIOO — Risk / Return Rank

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

APRZ

APRZ Risk / Return Rank: 58
APRZ Sharpe Ratio Rank: 61
APRZ Sortino Ratio Rank: 61
APRZ Omega Ratio Rank: 61
APRZ Calmar Ratio Rank: 48
APRZ Martin Ratio Rank: 59

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.

APRZ vs. AIOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (April) ETF (APRZ) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). 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.

	APRZ	AIOO	Difference
Sharpe ratio: Return per unit of total volatility	2.02	—	—
Sortino ratio: Return per unit of downside risk	2.82	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	2.33	—	—
Martin ratio: Return relative to average drawdown	10.32	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	APRZ	AIOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.94	2.80	-1.86

Drawdowns

APRZ vs. AIOO - Drawdown Comparison

The maximum APRZ drawdown since its inception was -18.15%, which is greater than AIOO's maximum drawdown of -0.74%. Use the drawdown chart below to compare losses from any high point for APRZ and AIOO.

Drawdown Indicators

	APRZ	AIOO	Difference
Max Drawdown Largest peak-to-trough decline	-18.15%	-0.74%	-17.41%
Max Drawdown (1Y) Largest decline over 1 year	-8.85%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.15%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.15%	—	—
Current Drawdown Current decline from peak	-0.22%	-0.09%	-0.13%
Average Drawdown Average peak-to-trough decline	-3.62%	-0.17%	-3.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	—	—

Volatility

Volatility by Period

	APRZ	AIOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.36%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.07%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.22%	1.98%	+8.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.52%	1.98%	+10.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.42%	1.98%	+10.44%

APRZ vs. AIOO - Expense Ratio Comparison

APRZ has a 0.79% expense ratio, which is higher than AIOO's 0.64% expense ratio.

Dividends

APRZ vs. AIOO - Dividend Comparison

APRZ's dividend yield for the trailing twelve months is around 3.11%, while AIOO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	0.00%	0.00%	0.00%	0.00%	0.00%
APRZ TrueShares Structured Outcome (April) ETF	3.11%	3.35%	2.78%	2.89%	0.59%

Frequently Asked Questions

Can I hold both APRZ and AIOO in my portfolio?

APRZ and AIOO have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, APRZ or AIOO?

On fees, AIOO is cheaper at 0.64% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, APRZ or AIOO?

AIOO is cheaper with a 0.64% expense ratio, compared with 0.79% for APRZ.

Which ETF pays a higher dividend yield, APRZ or AIOO?

APRZ has the higher dividend yield at 3.11%, compared with 0.00% for AIOO.

What is the main difference between APRZ and AIOO?

They also come from different issuers: TrueShares and Allianz. Their fees differ too: 0.79% for APRZ and 0.64% for AIOO.