SEPW vs. APRJ

Last updated Jun 6, 2026

SEPW (AllianzIM U.S. Large Cap Buffer20 Sep ETF) and APRJ (Innovator Premium Income 30 Barrier ETF - April) are both Options Trading funds. Both are actively managed. Over the past year, SEPW returned 12.39% vs 6.72% for APRJ. A 0.51 correlation means they provide meaningful diversification when combined. SEPW charges 0.74%/yr vs 0.79%/yr for APRJ.

Performance

SEPW vs. APRJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap Buffer20 Sep ETF (SEPW) and Innovator Premium Income 30 Barrier ETF - April (APRJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SEPW achieves a 3.80% return, which is significantly higher than APRJ's 2.89% return.

SEPW

• 1D: -0.42%
• 1M: 0.55%
• YTD: 3.80%
• 6M: 4.23%
• 1Y: 12.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

APRJ

• 1D: -0.40%
• 1M: 0.26%
• YTD: 2.89%
• 6M: 3.27%
• 1Y: 6.72%
• 3Y*: 6.14%
• 5Y*: —
• 10Y*: —

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

SEPW vs. APRJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SEPW AllianzIM U.S. Large Cap Buffer20 Sep ETF	3.80%	10.42%	11.05%	3.74%
APRJ Innovator Premium Income 30 Barrier ETF - April	2.89%	5.71%	6.24%	1.77%

Correlation

The correlation between SEPW and APRJ is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Sep 5, 2023	0.51

The correlation between SEPW and APRJ has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.

SEPW vs. APRJ - Sectors Allocation Comparison

Sectors	SEPW	APRJ
Technology	36.2%	33.6%
Financial Services	11.9%	12.4%
Communication Services	10.9%	10.5%
Consumer Cyclical	10.1%	10.0%
Healthcare	8.4%	9.5%
Industrials	8.1%	8.5%
Consumer Defensive	4.9%	5.3%
Energy	3.5%	4.0%
Utilities	2.3%	2.5%
Real Estate	1.9%	2.0%
Basic Materials	1.8%	1.9%

Return for Risk

SEPW vs. APRJ — Risk / Return Rank

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

SEPW

SEPW Risk / Return Rank: 87
SEPW Sharpe Ratio Rank: 86
SEPW Sortino Ratio Rank: 89
SEPW Omega Ratio Rank: 90
SEPW Calmar Ratio Rank: 80
SEPW Martin Ratio Rank: 91

APRJ

APRJ Risk / Return Rank: 98
APRJ Sharpe Ratio Rank: 97
APRJ Sortino Ratio Rank: 98
APRJ Omega Ratio Rank: 98
APRJ Calmar Ratio Rank: 98
APRJ Martin Ratio Rank: 99

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.

SEPW vs. APRJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer20 Sep ETF (SEPW) and Innovator Premium Income 30 Barrier ETF - April (APRJ). 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.

	SEPW	APRJ	Difference
Sharpe ratio: Return per unit of total volatility	2.64	4.34	-1.70
Sortino ratio: Return per unit of downside risk	3.81	8.13	-4.31
Omega ratio: Gain probability vs. loss probability	1.55	2.11	-0.56
Calmar ratio: Return relative to maximum drawdown	3.90	16.96	-13.05
Martin ratio: Return relative to average drawdown	20.17	94.78	-74.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SEPW vs. APRJ - Sharpe Ratio Comparison

The current SEPW Sharpe Ratio is 2.64, which is lower than the APRJ Sharpe Ratio of 4.34. The chart below compares the historical Sharpe Ratios of SEPW and APRJ, 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

	SEPW	APRJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	4.34	-1.70
Sharpe Ratio (All Time) Calculated using the full available price history	1.66	1.77	-0.11

Drawdowns

SEPW vs. APRJ - Drawdown Comparison

The maximum SEPW drawdown since its inception was -8.43%, which is greater than APRJ's maximum drawdown of -4.68%. Use the drawdown chart below to compare losses from any high point for SEPW and APRJ.

Drawdown Indicators

	SEPW	APRJ	Difference
Max Drawdown Largest peak-to-trough decline	-8.43%	-4.68%	-3.75%
Max Drawdown (1Y) Largest decline over 1 year	-3.19%	-0.40%	-2.79%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.68%	—
Current Drawdown Current decline from peak	-0.42%	-0.40%	-0.02%
Average Drawdown Average peak-to-trough decline	-0.64%	-0.12%	-0.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.62%	0.07%	+0.55%

Volatility

SEPW vs. APRJ - Volatility Comparison

AllianzIM U.S. Large Cap Buffer20 Sep ETF (SEPW) and Innovator Premium Income 30 Barrier ETF - April (APRJ) have volatilities of 0.64% and 0.64%, 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

	SEPW	APRJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.64%	0.64%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	3.44%	1.22%	+2.22%
Volatility (1Y) Calculated over the trailing 1-year period	4.72%	1.56%	+3.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.45%	3.64%	+2.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.45%	3.64%	+2.81%

SEPW vs. APRJ - Expense Ratio Comparison

SEPW has a 0.74% expense ratio, which is lower than APRJ's 0.79% expense ratio.

Dividends

SEPW vs. APRJ - Dividend Comparison

SEPW has not paid dividends to shareholders, while APRJ's dividend yield for the trailing twelve months is around 5.28%.

Position	TTM	2025	2024	2023
APRJ Innovator Premium Income 30 Barrier ETF - April	5.28%	5.46%	5.88%	4.88%
SEPW AllianzIM U.S. Large Cap Buffer20 Sep ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SEPW and APRJ in my portfolio?

SEPW and APRJ have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SEPW or APRJ?

APRJ has higher volatility (0.64%) compared to SEPW (0.64%). In terms of maximum drawdown, SEPW dropped -8.43% vs APRJ's -4.68%.

Which ETF is better, SEPW or APRJ?

On 1-year performance, SEPW leads with 12.39% vs 6.72% for APRJ. On fees, SEPW 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, SEPW or APRJ?

Over the 1-year period, SEPW has performed better with a 12.39% return vs 6.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SEPW or APRJ?

SEPW is cheaper with a 0.74% expense ratio, compared with 0.79% for APRJ.

Which ETF pays a higher dividend yield, SEPW or APRJ?

APRJ has the higher dividend yield at 5.28%, compared with 0.00% for SEPW.

What is the main difference between SEPW and APRJ?

They also come from different issuers: Allianz and Innovator. Their fees differ too: 0.74% for SEPW and 0.79% for APRJ.

Which has better risk-adjusted returns?

APRJ currently has the higher Sharpe Ratio (4.34 vs 2.64), 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.