NVBT vs. APRW

Last updated Apr 1, 2026

Compare and contrast key facts about Allianzim U.S. Large Cap Buffer10 Nov ETF (NVBT) and AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW).

NVBT and APRW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NVBT is an actively managed fund by Allianz. It was launched on Oct 31, 2022. APRW is an actively managed fund by Allianz. It was launched on May 28, 2020.

Performance

NVBT vs. APRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allianzim U.S. Large Cap Buffer10 Nov ETF (NVBT) and AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW). The values are adjusted to include any dividend payments, if applicable.

NVBT vs. APRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NVBT Allianzim U.S. Large Cap Buffer10 Nov ETF	-2.85%	12.84%	12.03%	16.28%	0.24%
APRW AllianzIM U.S. Large Cap Buffer20 Apr ETF	1.48%	6.18%	11.25%	12.38%	1.24%

Returns By Period

In the year-to-date period, NVBT achieves a -2.85% return, which is significantly lower than APRW's 1.48% return.

NVBT

• 1D: 2.13%
• 1M: -3.36%
• YTD: -2.85%
• 6M: -0.95%
• 1Y: 12.30%
• 3Y*: 10.45%
• 5Y*: —
• 10Y*: —

APRW

• 1D: 0.16%
• 1M: 0.58%
• YTD: 1.48%
• 6M: 3.35%
• 1Y: 10.24%
• 3Y*: 9.39%
• 5Y*: 6.54%
• 10Y*: —

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

NVBT vs. APRW - Expense Ratio Comparison

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

NVBT

Allianzim U.S. Large Cap Buffer10 Nov ETF

APRW

AllianzIM U.S. Large Cap Buffer20 Apr ETF

Return for Risk

NVBT vs. APRW — Risk / Return Rank

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

NVBT

NVBT Risk / Return Rank: 59
NVBT Sharpe Ratio Rank: 53
NVBT Sortino Ratio Rank: 56
NVBT Omega Ratio Rank: 63
NVBT Calmar Ratio Rank: 55
NVBT Martin Ratio Rank: 70

APRW

APRW Risk / Return Rank: 84
APRW Sharpe Ratio Rank: 78
APRW Sortino Ratio Rank: 82
APRW Omega Ratio Rank: 96
APRW Calmar Ratio Rank: 72
APRW Martin Ratio Rank: 92

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.

NVBT vs. APRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allianzim U.S. Large Cap Buffer10 Nov ETF (NVBT) 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.

	NVBT	APRW	Difference
Sharpe ratio Return per unit of total volatility	0.98	1.49	-0.51
Sortino ratio Return per unit of downside risk	1.49	2.20	-0.71
Omega ratio Gain probability vs. loss probability	1.24	1.51	-0.27
Calmar ratio Return relative to maximum drawdown	1.43	1.93	-0.50
Martin ratio Return relative to average drawdown	7.34	13.27	-5.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVBT vs. APRW - Sharpe Ratio Comparison

The current NVBT Sharpe Ratio is 0.98, which is lower than the APRW Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of NVBT and APRW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NVBT	APRW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.98	1.49	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.98	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	1.04	+0.02

Correlation

The correlation between NVBT and APRW is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

NVBT vs. APRW - Dividend Comparison

Neither NVBT nor APRW has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020
NVBT Allianzim U.S. Large Cap Buffer10 Nov ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
APRW AllianzIM U.S. Large Cap Buffer20 Apr ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.67%

Drawdowns

NVBT vs. APRW - Drawdown Comparison

The maximum NVBT drawdown since its inception was -12.90%, which is greater than APRW's maximum drawdown of -9.61%. Use the drawdown chart below to compare losses from any high point for NVBT and APRW.

Drawdown Indicators

	NVBT	APRW	Difference
Max Drawdown Largest peak-to-trough decline	-12.90%	-9.61%	-3.29%
Max Drawdown (1Y) Largest decline over 1 year	-8.84%	-5.62%	-3.22%
Max Drawdown (5Y) Largest decline over 5 years	—	-9.61%	—
Current Drawdown Current decline from peak	-4.21%	0.00%	-4.21%
Average Drawdown Average peak-to-trough decline	-1.39%	-1.15%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	0.82%	+0.91%

Volatility

NVBT vs. APRW - Volatility Comparison

Allianzim U.S. Large Cap Buffer10 Nov ETF (NVBT) has a higher volatility of 3.90% compared to AllianzIM U.S. Large Cap Buffer20 Apr ETF (APRW) at 0.71%. This indicates that NVBT'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

	NVBT	APRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	0.71%	+3.19%
Volatility (6M) Calculated over the trailing 6-month period	6.34%	1.60%	+4.74%
Volatility (1Y) Calculated over the trailing 1-year period	12.63%	6.93%	+5.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.45%	6.73%	+3.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.45%	6.47%	+3.98%