JANU vs. APRW

Last updated Aug 1, 2026

JANU (AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF) and APRW (AllianzIM U.S. Large Cap Buffer20 Apr ETF) are both exchange-traded funds - JANU is a Defined Outcome fund actively managed by Allianz, while APRW is a Options Trading fund actively managed by Allianz. Both are actively managed. Over the past year, JANU returned 15.09% vs 11.33% for APRW. Their correlation of 0.89 means they have usually moved in the same direction. Both charge a 0.74% expense ratio.

Performance

JANU vs. APRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF (JANU) and AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JANU achieves a 6.72% return, which is significantly lower than APRW's 7.14% return.

JANU

• 1D: 0.70%
• 1M: 0.13%
• 6M: 5.85%
• YTD: 6.72%
• 1Y: 15.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.01%

APRW

• 1D: 0.28%
• 1M: 0.61%
• 6M: 6.65%
• YTD: 7.14%
• 1Y: 11.33%
• 3Y*: 9.57%
• 5Y*: 7.07%
• 10Y*: —
• ALL TIME*: 7.37%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
APRW AllianzIM U.S. Large Cap Buffer20 Apr ETF	$172.15K	$1.27M	$609.35K
JANU AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF	$72.00K	$85.08K	$293.05K

JANU vs. APRW - Yearly Performance Comparison

	2026 (YTD)	2025
JANU AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF	6.72%	12.02%
APRW AllianzIM U.S. Large Cap Buffer20 Apr ETF	7.14%	6.18%

Correlation

The correlation between JANU and APRW is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (All Time) Calculated using the full available price history since Jan 2, 2025	0.89

The correlation between JANU and APRW has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.

Return for Risk

JANU vs. APRW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JANU

JANU Risk / Return Rank: 57
JANU Sharpe Ratio Rank: 54
JANU Sortino Ratio Rank: 52
JANU Omega Ratio Rank: 51
JANU Calmar Ratio Rank: 65
JANU Martin Ratio Rank: 65

APRW

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JANU vs. APRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF (JANU) and AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW). 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.

	JANU	APRW	Difference
Sharpe ratio: Return per unit of total volatility	1.31	3.98	-2.67
Sortino ratio: Return per unit of downside risk	1.87	6.77	-4.91
Omega ratio: Gain probability vs. loss probability	1.23	1.94	-0.71
Calmar ratio: Return relative to maximum drawdown	2.31	12.40	-10.10
Martin ratio: Return relative to average drawdown	7.95	61.04	-53.08

JANU vs. APRW - Sharpe Ratio Comparison

The current JANU Sharpe Ratio is 1.31, which is lower than the APRW Sharpe Ratio of 3.98. The chart below compares the historical Sharpe Ratios of JANU and APRW, 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

JANU vs. APRW - Drawdown Comparison

The maximum JANU drawdown since its inception was -11.84%, which is greater than APRW's maximum drawdown of -9.61%. Use the drawdown chart below to compare losses from any high point for JANU and APRW.

Drawdown Indicators

	JANU	APRW	Difference
Max Drawdown Largest peak-to-trough decline	-11.84%	-9.61%	-2.23%
Max Drawdown (1Y) Largest decline over 1 year	-5.98%	-0.89%	-5.09%
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	-1.74%	0.00%	-1.74%
Average Drawdown Average peak-to-trough decline	-1.88%	-1.10%	-0.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	0.18%	+1.55%

Volatility

JANU vs. APRW - Volatility Comparison

AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF (JANU) has a higher volatility of 3.02% compared to AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW) at 0.95%. This indicates that JANU's price experiences larger fluctuations and is considered to be riskier than APRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JANU	APRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.02%	0.95%	+2.07%
Volatility (6M) Calculated over the trailing 6-month period	7.76%	2.30%	+5.46%
Volatility (1Y) Calculated over the trailing 1-year period	10.54%	2.79%	+7.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.56%	6.73%	+4.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.56%	6.35%	+5.21%

JANU vs. APRW - Expense Ratio Comparison

Both JANU and APRW have an expense ratio of 0.74%.

Dividends

JANU vs. APRW - Dividend Comparison

Neither JANU nor APRW has paid dividends to shareholders.

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%
JANU AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JANU and APRW in my portfolio?

JANU and APRW have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JANU or APRW?

JANU has higher volatility (3.02%) compared to APRW (0.95%). In terms of maximum drawdown, JANU dropped -11.84% vs APRW's -9.61%.

Which ETF is better, JANU or APRW?

On 1-year performance, JANU leads with 15.09% vs 11.33% for APRW. Both ETFs have the same 0.74% expense ratio. On volatility, APRW has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JANU or APRW?

Over the 1-year period, JANU has performed better with a 15.09% return vs 11.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JANU or APRW?

JANU and APRW have the same expense ratio: 0.74% per year.

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

JANU and APRW have nearly identical dividend yields, around 0.00%.

What is the main difference between JANU and APRW?

JANU is categorized as Defined Outcome, while APRW is Options Trading.

Which has better risk-adjusted returns?

APRW currently has the higher Sharpe Ratio (3.98 vs 1.31), 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.