IYG vs. APO

Last updated Jun 5, 2026

IYG (iShares U.S. Financial Services ETF) is Financials Equities fund tracking the Dow Jones U.S. Financial Services TR, while APO (Apollo Global Management, Inc.) is a stock. Over the past 10 years, IYG returned 13.56%/yr vs 27.89%/yr for APO. A 0.55 correlation means they provide meaningful diversification when combined.

Performance

IYG vs. APO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Financial Services ETF (IYG) 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, IYG achieves a -3.88% return, which is significantly higher than APO's -10.56% return. Over the past 10 years, IYG has underperformed APO with an annualized return of 13.56%, while APO has yielded a comparatively higher 27.89% annualized return.

IYG

• 1D: 2.82%
• 1M: 1.39%
• YTD: -3.88%
• 6M: -1.63%
• 1Y: 9.20%
• 3Y*: 21.76%
• 5Y*: 8.46%
• 10Y*: 13.56%

APO

• 1D: 3.26%
• 1M: -1.04%
• YTD: -10.56%
• 6M: -5.32%
• 1Y: 0.12%
• 3Y*: 24.07%
• 5Y*: 19.87%
• 10Y*: 27.89%

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

IYG vs. APO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IYG iShares U.S. Financial Services ETF	-3.88%	19.85%	31.94%	16.07%	-16.76%	30.36%	0.99%	37.62%	-12.56%	24.47%
APO Apollo Global Management, Inc.	-10.56%	-11.12%	79.87%	49.44%	-9.59%	53.25%	8.00%	106.46%	-22.03%	85.29%

Correlation

The correlation between IYG and APO is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Mar 31, 2011	0.55

The correlation between IYG and APO shifts across timeframes, from 0.55 (all time) to 0.67 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

IYG vs. APO — Risk / Return Rank

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

IYG

IYG Risk / Return Rank: 18
IYG Sharpe Ratio Rank: 19
IYG Sortino Ratio Rank: 19
IYG Omega Ratio Rank: 19
IYG Calmar Ratio Rank: 17
IYG Martin Ratio Rank: 16

APO

APO Risk / Return Rank: 39
APO Sharpe Ratio Rank: 42
APO Sortino Ratio Rank: 36
APO Omega Ratio Rank: 37
APO Calmar Ratio Rank: 41
APO Martin Ratio Rank: 41

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.

IYG vs. APO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Financial Services ETF (IYG) 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.

	IYG	APO	Difference
Sharpe ratio: Return per unit of total volatility	0.59	0.00	+0.59
Sortino ratio: Return per unit of downside risk	0.89	0.25	+0.64
Omega ratio: Gain probability vs. loss probability	1.11	1.03	+0.08
Calmar ratio: Return relative to maximum drawdown	0.58	0.00	+0.58
Martin ratio: Return relative to average drawdown	1.51	0.01	+1.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IYG vs. APO - Sharpe Ratio Comparison

The current IYG Sharpe Ratio is 0.59, which is higher than the APO Sharpe Ratio of 0.00. The chart below compares the historical Sharpe Ratios of IYG 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

	IYG	APO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.59	0.00	+0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.54	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.74	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.58	-0.36

Drawdowns

IYG vs. APO - Drawdown Comparison

The maximum IYG drawdown since its inception was -81.84%, which is greater than APO's maximum drawdown of -56.99%. Use the drawdown chart below to compare losses from any high point for IYG and APO.

Drawdown Indicators

	IYG	APO	Difference
Max Drawdown Largest peak-to-trough decline	-81.84%	-56.99%	-24.85%
Max Drawdown (1Y) Largest decline over 1 year	-15.90%	-34.97%	+19.07%
Max Drawdown (3Y) Largest decline over 3 years	-18.54%	-42.82%	+24.28%
Max Drawdown (5Y) Largest decline over 5 years	-29.62%	-42.82%	+13.20%
Max Drawdown (10Y) Largest decline over 10 years	-44.32%	-53.48%	+9.16%
Current Drawdown Current decline from peak	-7.23%	-26.49%	+19.26%
Average Drawdown Average peak-to-trough decline	-20.74%	-16.37%	-4.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.11%	16.55%	-10.44%

Volatility

IYG vs. APO - Volatility Comparison

The current volatility for iShares U.S. Financial Services ETF (IYG) is 4.41%, while Apollo Global Management, Inc. (APO) has a volatility of 8.71%. This indicates that IYG experiences smaller price fluctuations and is considered to be less risky than APO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IYG	APO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	8.71%	-4.30%
Volatility (6M) Calculated over the trailing 6-month period	12.10%	27.27%	-15.17%
Volatility (1Y) Calculated over the trailing 1-year period	15.65%	35.29%	-19.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.47%	37.07%	-16.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.54%	37.81%	-14.27%

Dividends

IYG vs. APO - Dividend Comparison

IYG's dividend yield for the trailing twelve months is around 1.11%, less than APO's 1.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APO Apollo Global Management, Inc.	1.63%	1.38%	1.10%	1.81%	2.51%	2.90%	4.72%	4.23%	7.86%	5.53%	6.46%	12.91%
IYG iShares U.S. Financial Services ETF	1.11%	1.00%	1.16%	1.77%	2.07%	1.25%	1.71%	1.59%	1.81%	1.24%	1.28%	1.33%

Frequently Asked Questions

Can I hold both IYG and APO in my portfolio?

IYG and APO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IYG or APO?

APO has higher volatility (8.71%) compared to IYG (4.41%). In terms of maximum drawdown, IYG dropped -81.84% vs APO's -56.99%.

Which has better risk-adjusted returns?

IYG currently has the higher Sharpe Ratio (0.59 vs 0.00), 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.