UVIX vs. APRT
UVIX (Volatility Shares 2x Long VIX Futures ETF) and APRT (AllianzIM U.S. Large Cap Buffer10 Apr ETF) are both exchange-traded funds - UVIX is a Volatility fund tracking the Long VIX Futures Index – Benchmark TR Gross (200%), while APRT is a Options Trading fund actively managed by Allianz. UVIX is passively managed, while APRT is actively managed. Over the past 3 years, UVIX returned -82.43%/yr vs 14.42%/yr for APRT. At a correlation of -0.73, they often move in opposite directions. UVIX charges 2.78%/yr vs 0.74%/yr for APRT.
Performance
UVIX vs. APRT - Performance Comparison
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Returns By Period
In the year-to-date period, UVIX achieves a -31.87% return, which is significantly lower than APRT's 9.89% return.
UVIX
- 1D
- -0.26%
- 1M
- -29.01%
- YTD
- -31.87%
- 6M
- -51.86%
- 1Y
- -85.80%
- 3Y*
- -82.43%
- 5Y*
- —
- 10Y*
- —
APRT
- 1D
- -0.20%
- 1M
- 2.07%
- YTD
- 9.89%
- 6M
- 10.85%
- 1Y
- 19.10%
- 3Y*
- 14.42%
- 5Y*
- 10.64%
- 10Y*
- —
UVIX vs. APRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
UVIX Volatility Shares 2x Long VIX Futures ETF | -31.87% | -83.21% | -75.24% | -95.28% | -62.08% |
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF | 9.89% | 7.99% | 15.15% | 22.13% | -7.74% |
Correlation
The correlation between UVIX and APRT is -0.80, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.73 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2022 | -0.73 |
The correlation between UVIX and APRT has been stable across timeframes, ranging from -0.80 to -0.73 - a consistent structural relationship.
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Return for Risk
UVIX vs. APRT — Risk / Return Rank
UVIX
APRT
UVIX vs. APRT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Volatility Shares 2x Long VIX Futures ETF (UVIX) and AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT). 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.
| UVIX | APRT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.60 | ||
| Sortino ratioReturn per unit of downside risk | -8.46 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.97 | -1.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 12.06 | -13.04 |
| Martin ratioReturn relative to average drawdown | -1.26 | 65.68 | -66.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| UVIX | APRT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.77 | 3.83 | -4.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.99 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.62 | 1.11 | -1.72 |
Drawdowns
UVIX vs. APRT - Drawdown Comparison
The maximum UVIX drawdown since its inception was -99.97%, which is greater than APRT's maximum drawdown of -14.98%. Use the drawdown chart below to compare losses from any high point for UVIX and APRT.
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Drawdown Indicators
| UVIX | APRT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.97% | -14.98% | -84.99% |
Max Drawdown (1Y)Largest decline over 1 year | -87.35% | -1.59% | -85.76% |
Max Drawdown (3Y)Largest decline over 3 years | -99.44% | -14.98% | -84.46% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.98% | — |
Current DrawdownCurrent decline from peak | -99.97% | -0.20% | -99.77% |
Average DrawdownAverage peak-to-trough decline | -88.52% | -2.05% | -86.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 67.78% | 0.29% | +67.49% |
Volatility
UVIX vs. APRT - Volatility Comparison
Volatility Shares 2x Long VIX Futures ETF (UVIX) has a higher volatility of 15.41% compared to AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT) at 1.01%. This indicates that UVIX's price experiences larger fluctuations and is considered to be riskier than APRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UVIX | APRT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.41% | 1.01% | +14.40% |
Volatility (6M)Calculated over the trailing 6-month period | 82.35% | 3.99% | +78.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 111.51% | 5.02% | +106.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 136.15% | 10.78% | +125.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 136.15% | 10.29% | +125.86% |
UVIX vs. APRT - Expense Ratio Comparison
UVIX has a 2.78% expense ratio, which is higher than APRT's 0.74% expense ratio.
Dividends
UVIX vs. APRT - Dividend Comparison
Neither UVIX nor APRT has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 4.67% |
UVIX Volatility Shares 2x Long VIX Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UVIX and APRT have a correlation of -0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVIX has higher volatility (15.41%) compared to APRT (1.01%). In terms of maximum drawdown, UVIX dropped -99.97% vs APRT's -14.98%.
On 3-year performance, APRT leads with 14.42% vs -82.43% for UVIX. On fees, APRT is cheaper at 0.74% per year. On volatility, APRT has been the lower-risk option at 1.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, APRT has performed better with a 14.42% return vs -82.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
APRT is cheaper with a 0.74% expense ratio, compared with 2.78% for UVIX.
UVIX and APRT have nearly identical dividend yields, around 0.00%.
UVIX is categorized as Volatility, while APRT is Options Trading. They also come from different issuers: Volatility Shares and Allianz. Their fees differ too: 2.78% for UVIX and 0.74% for APRT.
APRT currently has the higher Sharpe Ratio (3.83 vs -0.77), 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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