TENJ vs. APXM

Last updated Aug 1, 2026

TENJ (iShares Large Cap 10% Target Buffer Jun ETF) and APXM (FT Vest U.S. Equity Max Buffer ETF - April) are both Defined Outcome funds. Both are actively managed. Their 0.77 correlation means they have sometimes moved together and sometimes differently. TENJ charges 0.50%/yr vs 0.85%/yr for APXM.

Performance

TENJ vs. APXM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Large Cap 10% Target Buffer Jun ETF (TENJ) and FT Vest U.S. Equity Max Buffer ETF - April (APXM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TENJ achieves a 9.03% return, which is significantly higher than APXM's 2.54% return.

TENJ

• 1D: 0.59%
• 1M: 0.43%
• 6M: 7.93%
• YTD: 9.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

APXM

• 1D: 0.14%
• 1M: 0.43%
• 6M: 2.26%
• YTD: 2.54%
• 1Y: 4.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.15%

*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)
APXM FT Vest U.S. Equity Max Buffer ETF - April	$4.81K	$22.83K	$59.08K
TENJ iShares Large Cap 10% Target Buffer Jun ETF	$213.00K	$529.84K	$528.41K

TENJ vs. APXM - Yearly Performance Comparison

	2026 (YTD)	2025
TENJ iShares Large Cap 10% Target Buffer Jun ETF	9.03%	2.22%
APXM FT Vest U.S. Equity Max Buffer ETF - April	2.54%	0.91%

Correlation

The correlation between TENJ and APXM is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 22, 2025	0.77

Return for Risk

TENJ vs. APXM — Risk / Return Rank

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

TENJ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

APXM

APXM Risk / Return Rank: 98
APXM Sharpe Ratio Rank: 97
APXM Sortino Ratio Rank: 98
APXM Omega Ratio Rank: 98
APXM Calmar Ratio Rank: 97
APXM 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.

TENJ vs. APXM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap 10% Target Buffer Jun ETF (TENJ) 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.

	TENJ	APXM	Difference
Sharpe ratio: Return per unit of total volatility	—	3.66	—
Sortino ratio: Return per unit of downside risk	—	5.79	—
Omega ratio: Gain probability vs. loss probability	—	1.95	—
Calmar ratio: Return relative to maximum drawdown	—	8.14	—
Martin ratio: Return relative to average drawdown	—	41.84	—

Drawdowns

TENJ vs. APXM - Drawdown Comparison

The maximum TENJ drawdown since its inception was -5.51%, which is greater than APXM's maximum drawdown of -0.60%. Use the drawdown chart below to compare losses from any high point for TENJ and APXM.

Drawdown Indicators

	TENJ	APXM	Difference
Max Drawdown Largest peak-to-trough decline	-5.51%	-0.60%	-4.91%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.60%	—
Current Drawdown Current decline from peak	-0.43%	-0.02%	-0.41%
Average Drawdown Average peak-to-trough decline	-0.81%	-0.05%	-0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.12%	—

Volatility

Volatility by Period

	TENJ	APXM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.60%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.21%	—
Volatility (1Y) Calculated over the trailing 1-year period	8.53%	1.33%	+7.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.53%	1.41%	+7.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.53%	1.41%	+7.12%

TENJ vs. APXM - Expense Ratio Comparison

TENJ has a 0.50% expense ratio, which is lower than APXM's 0.85% expense ratio.

Dividends

TENJ vs. APXM - Dividend Comparison

TENJ's dividend yield for the trailing twelve months is around 0.26%, while APXM has not paid dividends to shareholders.

Position	TTM	2025
APXM FT Vest U.S. Equity Max Buffer ETF - April	0.00%	0.00%
TENJ iShares Large Cap 10% Target Buffer Jun ETF	0.26%	0.28%

Frequently Asked Questions

Can I hold both TENJ and APXM in my portfolio?

TENJ and APXM have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TENJ or APXM?

On fees, TENJ is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TENJ or APXM?

TENJ is cheaper with a 0.50% expense ratio, compared with 0.85% for APXM.

Which ETF pays a higher dividend yield, TENJ or APXM?

TENJ has the higher dividend yield at 0.26%, compared with 0.00% for APXM.

What is the main difference between TENJ and APXM?

They also come from different issuers: BlackRock and First Trust. Their fees differ too: 0.50% for TENJ and 0.85% for APXM.