UVXY vs. APRT
UVXY (ProShares Ultra VIX Short-Term Futures ETF) and APRT (AllianzIM U.S. Large Cap Buffer10 Apr ETF) are both exchange-traded funds - UVXY is a Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%), while APRT is a Options Trading fund actively managed by Allianz. UVXY is passively managed, while APRT is actively managed. Over the past 5 years, UVXY returned -66.90%/yr vs 10.35%/yr for APRT. At a correlation of -0.74, they often move in opposite directions. UVXY charges 0.95%/yr vs 0.74%/yr for APRT.
Performance
UVXY vs. APRT - Performance Comparison
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Returns By Period
In the year-to-date period, UVXY achieves a -22.07% return, which is significantly lower than APRT's 9.26% return.
UVXY
- 1D
- 8.28%
- 1M
- -14.92%
- YTD
- -22.07%
- 6M
- -24.28%
- 1Y
- -74.07%
- 3Y*
- -61.96%
- 5Y*
- -66.90%
- 10Y*
- -73.85%
APRT
- 1D
- -0.51%
- 1M
- -0.08%
- YTD
- 9.26%
- 6M
- 9.39%
- 1Y
- 17.60%
- 3Y*
- 13.70%
- 5Y*
- 10.35%
- 10Y*
- —
UVXY vs. APRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
UVXY ProShares Ultra VIX Short-Term Futures ETF | -22.07% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -68.28% |
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF | 9.26% | 7.99% | 15.15% | 22.13% | -6.41% | 11.89% | 9.46% |
Correlation
The correlation between UVXY and APRT is -0.81, 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 | -0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.75 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2020 | -0.74 |
The correlation between UVXY and APRT has been stable across timeframes, ranging from -0.81 to -0.74 - a consistent structural relationship.
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Return for Risk
UVXY vs. APRT — Risk / Return Rank
UVXY
APRT
UVXY vs. APRT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra VIX Short-Term Futures ETF (UVXY) 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.
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.
| UVXY | APRT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.32 | ||
| Sortino ratioReturn per unit of downside risk | -7.52 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.85 | -1.04 |
| Calmar ratioReturn relative to maximum drawdown | -1.01 | 11.11 | -12.12 |
| Martin ratioReturn relative to average drawdown | -1.45 | 53.57 | -55.02 |
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Drawdowns
UVXY vs. APRT - Drawdown Comparison
The maximum UVXY drawdown since its inception was -100.00%, which is greater than APRT's maximum drawdown of -14.98%. Use the drawdown chart below to compare losses from any high point for UVXY and APRT.
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Drawdown Indicators
| UVXY | APRT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -14.98% | -85.02% |
Max Drawdown (1Y)Largest decline over 1 year | -73.51% | -1.59% | -71.92% |
Max Drawdown (3Y)Largest decline over 3 years | -94.93% | -14.98% | -79.95% |
Max Drawdown (5Y)Largest decline over 5 years | -99.71% | -14.98% | -84.73% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -0.77% | -99.23% |
Average DrawdownAverage peak-to-trough decline | -98.75% | -2.04% | -96.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 55.34% | 0.33% | +55.01% |
Volatility
UVXY vs. APRT - Volatility Comparison
ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a higher volatility of 25.85% compared to AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT) at 1.81%. This indicates that UVXY'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
| UVXY | APRT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.85% | 1.81% | +24.04% |
Volatility (6M)Calculated over the trailing 6-month period | 66.46% | 4.33% | +62.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 85.46% | 5.14% | +80.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 103.96% | 10.80% | +93.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 112.39% | 10.27% | +102.12% |
UVXY vs. APRT - Expense Ratio Comparison
UVXY has a 0.95% expense ratio, which is higher than APRT's 0.74% expense ratio.
Dividends
UVXY vs. APRT - Dividend Comparison
Neither UVXY 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% |
UVXY ProShares Ultra VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UVXY and APRT have a correlation of -0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (25.85%) compared to APRT (1.81%). In terms of maximum drawdown, UVXY dropped -100.00% vs APRT's -14.98%.
On 5-year performance, APRT leads with 10.35% vs -66.90% for UVXY. On fees, APRT is cheaper at 0.74% per year. On volatility, APRT has been the lower-risk option at 1.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, APRT has performed better with a 10.35% return vs -66.90%. 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 0.95% for UVXY.
UVXY and APRT have nearly identical dividend yields, around 0.00%.
UVXY is categorized as Volatility, while APRT is Options Trading. They also come from different issuers: ProShares and Allianz. Their fees differ too: 0.95% for UVXY and 0.74% for APRT.
APRT currently has the higher Sharpe Ratio (3.45 vs -0.87), 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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