MARM vs. APXM
MARM (FT Vest U.S. Equity Max Buffer ETF - March) and APXM (FT Vest U.S. Equity Max Buffer ETF - April) are both Defined Outcome funds from First Trust. Both are actively managed. Over the past year, MARM returned 6.99% vs 5.14% for APXM. A 0.64 correlation means they provide meaningful diversification when combined. Both charge a 0.85% expense ratio.
Performance
MARM vs. APXM - Performance Comparison
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Returns By Period
In the year-to-date period, MARM achieves a 3.21% return, which is significantly higher than APXM's 2.01% return.
MARM
- 1D
- -0.04%
- 1M
- 0.19%
- YTD
- 3.21%
- 6M
- 3.36%
- 1Y
- 6.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
APXM
- 1D
- -0.05%
- 1M
- 0.14%
- YTD
- 2.01%
- 6M
- 2.14%
- 1Y
- 5.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MARM vs. APXM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MARM FT Vest U.S. Equity Max Buffer ETF - March | 3.21% | 6.25% |
APXM FT Vest U.S. Equity Max Buffer ETF - April | 2.01% | 5.24% |
Correlation
The correlation between MARM and APXM is 0.63, 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 | 0.63 |
Correlation (All Time) Calculated using the full available price history since Apr 21, 2025 | 0.64 |
The correlation between MARM and APXM has been stable across timeframes, ranging from 0.63 to 0.64 - a consistent structural relationship.
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Return for Risk
MARM vs. APXM — Risk / Return Rank
MARM
APXM
MARM vs. APXM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Max Buffer ETF - March (MARM) and FT Vest U.S. Equity Max Buffer ETF - April (APXM). 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.
| MARM | APXM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.40 | ||
| Omega ratioGain probability vs. loss probability | 2.08 | 2.22 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 11.19 | 8.62 | +2.56 |
| Martin ratioReturn relative to average drawdown | 66.30 | 61.17 | +5.13 |
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Drawdowns
MARM vs. APXM - Drawdown Comparison
The maximum MARM drawdown since its inception was -2.74%, which is greater than APXM's maximum drawdown of -0.60%. Use the drawdown chart below to compare losses from any high point for MARM and APXM.
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Drawdown Indicators
| MARM | APXM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.74% | -0.60% | -2.14% |
Max Drawdown (1Y)Largest decline over 1 year | -0.63% | -0.60% | -0.03% |
Current DrawdownCurrent decline from peak | -0.13% | -0.17% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -0.20% | -0.04% | -0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.11% | 0.08% | +0.03% |
Volatility
MARM vs. APXM - Volatility Comparison
The current volatility for FT Vest U.S. Equity Max Buffer ETF - March (MARM) is 0.52%, while FT Vest U.S. Equity Max Buffer ETF - April (APXM) has a volatility of 0.73%. This indicates that MARM experiences smaller price fluctuations and is considered to be less risky than APXM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MARM | APXM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 0.73% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 1.34% | 1.04% | +0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.62% | 1.21% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.36% | 1.35% | +2.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.36% | 1.35% | +2.01% |
MARM vs. APXM - Expense Ratio Comparison
Both MARM and APXM have an expense ratio of 0.85%.
Dividends
MARM vs. APXM - Dividend Comparison
Neither MARM nor APXM has paid dividends to shareholders.
Frequently Asked Questions
MARM and APXM have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APXM has higher volatility (0.73%) compared to MARM (0.52%). In terms of maximum drawdown, MARM dropped -2.74% vs APXM's -0.60%.
On 1-year performance, MARM leads with 6.99% vs 5.14% for APXM. Both ETFs have the same 0.85% expense ratio. On volatility, MARM has been the lower-risk option at 0.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MARM has performed better with a 6.99% return vs 5.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MARM and APXM have the same expense ratio: 0.85% per year.
MARM and APXM have nearly identical dividend yields, around 0.00%.
MARM currently has the higher Sharpe Ratio (4.34 vs 4.29), 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.
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