APXM vs. MARM

Last updated Jun 4, 2026

APXM (FT Vest U.S. Equity Max Buffer ETF - April) and MARM (FT Vest U.S. Equity Max Buffer ETF - March) are both Defined Outcome funds from First Trust. Both are actively managed. Over the past year, APXM returned 5.49% vs 7.26% for MARM. A 0.62 correlation means they provide meaningful diversification when combined. Both charge a 0.85% expense ratio.

Performance

APXM vs. MARM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Max Buffer ETF - April (APXM) and FT Vest U.S. Equity Max Buffer ETF - March (MARM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APXM achieves a 2.11% return, which is significantly lower than MARM's 3.24% return.

APXM

• 1D: -0.06%
• 1M: 0.79%
• YTD: 2.11%
• 6M: 2.59%
• 1Y: 5.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MARM

• 1D: -0.06%
• 1M: 0.60%
• YTD: 3.24%
• 6M: 3.86%
• 1Y: 7.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

APXM vs. MARM - Yearly Performance Comparison

	2026 (YTD)	2025
APXM FT Vest U.S. Equity Max Buffer ETF - April	2.11%	5.40%
MARM FT Vest U.S. Equity Max Buffer ETF - March	3.24%	6.73%

Correlation

The correlation between APXM and MARM is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (All Time) Calculated using the full available price history since Apr 22, 2025	0.62

The correlation between APXM and MARM has been stable across timeframes, ranging from 0.62 to 0.62 - a consistent structural relationship.

Return for Risk

APXM vs. MARM — Risk / Return Rank

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

APXM

APXM Risk / Return Rank: 99
APXM Sharpe Ratio Rank: 98
APXM Sortino Ratio Rank: 99
APXM Omega Ratio Rank: 99
APXM Calmar Ratio Rank: 99
APXM Martin Ratio Rank: 99

MARM

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

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.

APXM vs. MARM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Max Buffer ETF - April (APXM) and FT Vest U.S. Equity Max Buffer ETF - March (MARM). 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.

	APXM	MARM	Difference
Sharpe ratio: Return per unit of total volatility	5.47	4.55	+0.92
Sortino ratio: Return per unit of downside risk	10.56	8.03	+2.53
Omega ratio: Gain probability vs. loss probability	2.60	2.16	+0.44
Calmar ratio: Return relative to maximum drawdown	20.36	11.63	+8.74
Martin ratio: Return relative to average drawdown	110.99	77.52	+33.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APXM vs. MARM - Sharpe Ratio Comparison

The current APXM Sharpe Ratio is 5.47, which is comparable to the MARM Sharpe Ratio of 4.55. The chart below compares the historical Sharpe Ratios of APXM and MARM, 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

	APXM	MARM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.47	4.55	+0.92
Sharpe Ratio (All Time) Calculated using the full available price history	5.70	2.23	+3.47

Drawdowns

APXM vs. MARM - Drawdown Comparison

The maximum APXM drawdown since its inception was -0.40%, smaller than the maximum MARM drawdown of -2.74%. Use the drawdown chart below to compare losses from any high point for APXM and MARM.

Drawdown Indicators

	APXM	MARM	Difference
Max Drawdown Largest peak-to-trough decline	-0.40%	-2.74%	+2.34%
Max Drawdown (1Y) Largest decline over 1 year	-0.27%	-0.63%	+0.36%
Current Drawdown Current decline from peak	-0.06%	-0.10%	+0.04%
Average Drawdown Average peak-to-trough decline	-0.03%	-0.20%	+0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.05%	0.09%	-0.04%

Volatility

APXM vs. MARM - Volatility Comparison

FT Vest U.S. Equity Max Buffer ETF - April (APXM) and FT Vest U.S. Equity Max Buffer ETF - March (MARM) have volatilities of 0.42% and 0.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APXM	MARM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.42%	0.41%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	0.78%	1.28%	-0.50%
Volatility (1Y) Calculated over the trailing 1-year period	1.01%	1.60%	-0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.20%	3.38%	-2.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.20%	3.38%	-2.18%

APXM vs. MARM - Expense Ratio Comparison

Both APXM and MARM have an expense ratio of 0.85%.

Dividends

APXM vs. MARM - Dividend Comparison

Neither APXM nor MARM has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both APXM and MARM in my portfolio?

APXM and MARM have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APXM or MARM?

APXM has higher volatility (0.42%) compared to MARM (0.41%). In terms of maximum drawdown, APXM dropped -0.40% vs MARM's -2.74%.

Which ETF is better, APXM or MARM?

On 1-year performance, MARM leads with 7.26% vs 5.49% for APXM. Both ETFs have the same 0.85% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, APXM or MARM?

Over the 1-year period, MARM has performed better with a 7.26% return vs 5.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, APXM or MARM?

APXM and MARM have the same expense ratio: 0.85% per year.

Which ETF pays a higher dividend yield, APXM or MARM?

APXM and MARM have nearly identical dividend yields, around 0.00%.

Which has better risk-adjusted returns?

APXM currently has the higher Sharpe Ratio (5.47 vs 4.55), 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.