JANW vs. XAPR

Last updated Jun 4, 2026

JANW (AllianzIM U.S. Large Cap Buffer20 Jan ETF) and XAPR (FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - April) are both Options Trading funds. Both are actively managed. Over the past year, JANW returned 12.80% vs 8.79% for XAPR. Their correlation of 0.82 suggests significant overlap in exposure. JANW charges 0.74%/yr vs 0.85%/yr for XAPR.

Performance

JANW vs. XAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap Buffer20 Jan ETF (JANW) and FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - April (XAPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JANW achieves a 4.39% return, which is significantly higher than XAPR's 3.39% return.

JANW

• 1D: -0.12%
• 1M: 1.65%
• YTD: 4.39%
• 6M: 5.14%
• 1Y: 12.80%
• 3Y*: 10.93%
• 5Y*: 8.21%
• 10Y*: —

XAPR

• 1D: -0.16%
• 1M: 1.66%
• YTD: 3.39%
• 6M: 4.05%
• 1Y: 8.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JANW vs. XAPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JANW AllianzIM U.S. Large Cap Buffer20 Jan ETF	4.39%	10.05%	8.55%
XAPR FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - April	3.39%	12.57%	8.25%

Correlation

The correlation between JANW and XAPR is 0.76, 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	0.76
Correlation (All Time) Calculated using the full available price history since Apr 23, 2024	0.82

The correlation between JANW and XAPR has been stable across timeframes, ranging from 0.76 to 0.82 - a consistent structural relationship.

Return for Risk

JANW vs. XAPR — Risk / Return Rank

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

JANW

JANW Risk / Return Rank: 85
JANW Sharpe Ratio Rank: 85
JANW Sortino Ratio Rank: 90
JANW Omega Ratio Rank: 92
JANW Calmar Ratio Rank: 71
JANW Martin Ratio Rank: 88

XAPR

XAPR Risk / Return Rank: 98
XAPR Sharpe Ratio Rank: 96
XAPR Sortino Ratio Rank: 98
XAPR Omega Ratio Rank: 98
XAPR Calmar Ratio Rank: 98
XAPR 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.

JANW vs. XAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer20 Jan ETF (JANW) and FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - April (XAPR). 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.

	JANW	XAPR	Difference
Sharpe ratio: Return per unit of total volatility	2.80	4.31	-1.51
Sortino ratio: Return per unit of downside risk	4.22	7.30	-3.08
Omega ratio: Gain probability vs. loss probability	1.61	2.06	-0.45
Calmar ratio: Return relative to maximum drawdown	3.52	13.37	-9.85
Martin ratio: Return relative to average drawdown	19.45	70.60	-51.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JANW vs. XAPR - Sharpe Ratio Comparison

The current JANW Sharpe Ratio is 2.80, which is lower than the XAPR Sharpe Ratio of 4.31. The chart below compares the historical Sharpe Ratios of JANW and XAPR, 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

	JANW	XAPR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.80	4.31	-1.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.28	1.88	-0.60

Drawdowns

JANW vs. XAPR - Drawdown Comparison

The maximum JANW drawdown since its inception was -9.69%, which is greater than XAPR's maximum drawdown of -6.18%. Use the drawdown chart below to compare losses from any high point for JANW and XAPR.

Drawdown Indicators

	JANW	XAPR	Difference
Max Drawdown Largest peak-to-trough decline	-9.69%	-6.18%	-3.51%
Max Drawdown (1Y) Largest decline over 1 year	-3.65%	-0.66%	-2.99%
Max Drawdown (3Y) Largest decline over 3 years	-8.66%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.69%	—	—
Current Drawdown Current decline from peak	-0.12%	-0.16%	+0.04%
Average Drawdown Average peak-to-trough decline	-1.23%	-0.18%	-1.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	0.12%	+0.54%

Volatility

JANW vs. XAPR - Volatility Comparison

AllianzIM U.S. Large Cap Buffer20 Jan ETF (JANW) and FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - April (XAPR) have volatilities of 0.78% and 0.75%, 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

	JANW	XAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.78%	0.75%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	3.66%	1.31%	+2.35%
Volatility (1Y) Calculated over the trailing 1-year period	4.59%	2.05%	+2.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.77%	6.18%	+0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.67%	6.18%	+0.49%

JANW vs. XAPR - Expense Ratio Comparison

JANW has a 0.74% expense ratio, which is lower than XAPR's 0.85% expense ratio.

Dividends

JANW vs. XAPR - Dividend Comparison

Neither JANW nor XAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JANW and XAPR in my portfolio?

JANW and XAPR have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JANW or XAPR?

JANW has higher volatility (0.78%) compared to XAPR (0.75%). In terms of maximum drawdown, JANW dropped -9.69% vs XAPR's -6.18%.

Which ETF is better, JANW or XAPR?

On 1-year performance, JANW leads with 12.80% vs 8.79% for XAPR. On fees, JANW is cheaper at 0.74% per year. 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, JANW or XAPR?

Over the 1-year period, JANW has performed better with a 12.80% return vs 8.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JANW or XAPR?

JANW is cheaper with a 0.74% expense ratio, compared with 0.85% for XAPR.

Which ETF pays a higher dividend yield, JANW or XAPR?

JANW and XAPR have nearly identical dividend yields, around 0.00%.

What is the main difference between JANW and XAPR?

They also come from different issuers: Allianz and FT Vest. Their fees differ too: 0.74% for JANW and 0.85% for XAPR.

Which has better risk-adjusted returns?

XAPR currently has the higher Sharpe Ratio (4.31 vs 2.80), 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.