EQH vs. APO

Last updated Jun 4, 2026

EQH (Equitable Holdings, Inc.) and APO (Apollo Global Management, Inc.) are both stocks. Both are in the Financial Services sector — EQH in Insurance - Diversified, APO in Asset Management. Over the past 5 years, EQH returned 7.58%/yr vs 19.10%/yr for APO. A 0.53 correlation means they provide meaningful diversification when combined.

Performance

EQH vs. APO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Equitable Holdings, Inc. (EQH) and Apollo Global Management, Inc. (APO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EQH achieves a -15.18% return, which is significantly lower than APO's -13.38% return.

EQH

• 1D: -4.18%
• 1M: -3.25%
• YTD: -15.18%
• 6M: -11.42%
• 1Y: -23.75%
• 3Y*: 18.57%
• 5Y*: 7.58%
• 10Y*: —

APO

• 1D: -3.42%
• 1M: -3.34%
• YTD: -13.38%
• 6M: -6.78%
• 1Y: -3.63%
• 3Y*: 23.22%
• 5Y*: 19.10%
• 10Y*: 27.60%

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

EQH vs. APO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EQH Equitable Holdings, Inc.	-15.18%	3.17%	45.04%	19.63%	-10.17%	31.00%	6.52%	53.13%	-17.22%
APO Apollo Global Management, Inc.	-13.38%	-11.12%	79.87%	49.44%	-9.59%	53.25%	8.00%	106.46%	-16.27%

Correlation

The correlation between EQH and APO is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (All Time) Calculated using the full available price history since May 11, 2018	0.53

The correlation between EQH and APO has been stable across timeframes, ranging from 0.51 to 0.59 - a consistent structural relationship.

Fundamentals

EPS EQH : -$3.67 APO : $3.58
PS Ratio EQH : 0.79 APO : 2.51
Total Revenue (TTM) EQH : $11.32B APO : $29.68B
Gross Profit (TTM) EQH : $6.96B APO : $26.52B
EBITDA (TTM) EQH : -$759.00M APO : $9.28B

Return for Risk

EQH vs. APO — Risk / Return Rank

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

EQH

EQH Risk / Return Rank: 12
EQH Sharpe Ratio Rank: 10
EQH Sortino Ratio Rank: 12
EQH Omega Ratio Rank: 13
EQH Calmar Ratio Rank: 16
EQH Martin Ratio Rank: 9

APO

APO Risk / Return Rank: 35
APO Sharpe Ratio Rank: 37
APO Sortino Ratio Rank: 32
APO Omega Ratio Rank: 32
APO Calmar Ratio Rank: 37
APO Martin Ratio Rank: 36

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.

EQH vs. APO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Equitable Holdings, Inc. (EQH) and Apollo Global Management, Inc. (APO). 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.

	EQH	APO	Difference
Sharpe ratio Return per unit of total volatility	-0.75	-0.10	-0.65
Sortino ratio Return per unit of downside risk	-0.92	0.10	-1.02
Omega ratio Gain probability vs. loss probability	0.89	1.01	-0.12
Calmar ratio Return relative to maximum drawdown	-0.66	-0.10	-0.56
Martin ratio Return relative to average drawdown	-1.33	-0.22	-1.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EQH vs. APO - Sharpe Ratio Comparison

The current EQH Sharpe Ratio is -0.75, which is lower than the APO Sharpe Ratio of -0.10. The chart below compares the historical Sharpe Ratios of EQH and APO, 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

	EQH	APO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.75	-0.10	-0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.52	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.73	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.58	-0.28

Drawdowns

EQH vs. APO - Drawdown Comparison

The maximum EQH drawdown since its inception was -61.33%, which is greater than APO's maximum drawdown of -56.99%. Use the drawdown chart below to compare losses from any high point for EQH and APO.

Drawdown Indicators

	EQH	APO	Difference
Max Drawdown Largest peak-to-trough decline	-61.33%	-56.99%	-4.34%
Max Drawdown (1Y) Largest decline over 1 year	-35.85%	-34.97%	-0.88%
Max Drawdown (3Y) Largest decline over 3 years	-35.85%	-42.82%	+6.97%
Max Drawdown (5Y) Largest decline over 5 years	-35.85%	-42.82%	+6.97%
Max Drawdown (10Y) Largest decline over 10 years	—	-53.48%	—
Current Drawdown Current decline from peak	-27.13%	-28.81%	+1.68%
Average Drawdown Average peak-to-trough decline	-12.09%	-16.36%	+4.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.83%	16.52%	+1.31%

Volatility

EQH vs. APO - Volatility Comparison

Equitable Holdings, Inc. (EQH) has a higher volatility of 11.29% compared to Apollo Global Management, Inc. (APO) at 8.08%. This indicates that EQH's price experiences larger fluctuations and is considered to be riskier than APO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EQH	APO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.29%	8.08%	+3.21%
Volatility (6M) Calculated over the trailing 6-month period	25.37%	27.08%	-1.71%
Volatility (1Y) Calculated over the trailing 1-year period	31.71%	35.14%	-3.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.04%	37.05%	-4.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.78%	37.81%	+0.97%

Dividends

EQH vs. APO - Dividend Comparison

EQH's dividend yield for the trailing twelve months is around 2.79%, more than APO's 1.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APO Apollo Global Management, Inc.	1.68%	1.38%	1.10%	1.81%	2.51%	2.90%	4.72%	4.23%	7.86%	5.53%	6.46%	12.91%
EQH Equitable Holdings, Inc.	2.79%	2.20%	1.99%	2.58%	2.72%	2.17%	2.58%	2.34%	1.56%	0.00%	0.00%	0.00%

Financials

EQH vs. APO - Profitability Comparison

The chart below illustrates the profitability comparison between Equitable Holdings, Inc. and Apollo Global Management, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

EQH - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Equitable Holdings, Inc. reported a gross profit of 3.61B and revenue of 4.23B. Therefore, the gross margin over that period was 85.2%.

APO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Apollo Global Management, Inc. reported a gross profit of 4.93B and revenue of 4.93B. Therefore, the gross margin over that period was 100.0%.

EQH - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Equitable Holdings, Inc. reported an operating income of 0.00 and revenue of 4.23B, resulting in an operating margin of 0.0%.

APO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Apollo Global Management, Inc. reported an operating income of 330.00M and revenue of 4.93B, resulting in an operating margin of 6.7%.

EQH - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Equitable Holdings, Inc. reported a net income of 621.00M and revenue of 4.23B, resulting in a net margin of 14.7%.

APO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Apollo Global Management, Inc. reported a net income of -1.91B and revenue of 4.93B, resulting in a net margin of -38.7%.

Frequently Asked Questions

Can I hold both EQH and APO in my portfolio?

EQH and APO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EQH or APO?

EQH has higher volatility (11.29%) compared to APO (8.08%). In terms of maximum drawdown, EQH dropped -61.33% vs APO's -56.99%.

Which has better risk-adjusted returns?

APO currently has the higher Sharpe Ratio (-0.10 vs -0.75), 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.