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 -67.81%/yr vs 10.50%/yr for APRT. Their -0.74 correlation means they have often moved in opposite directions in the past. 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 -35.49% return, which is significantly lower than APRT's 11.90% return.
UVXY
- 1D
- 1.09%
- 1M
- -6.53%
- 6M
- -36.87%
- YTD
- -35.49%
- 1Y
- -70.28%
- 3Y*
- -63.63%
- 5Y*
- -67.81%
- 10Y*
- -71.00%
- ALL TIME*
- -80.16%
APRT
- 1D
- 0.48%
- 1M
- 1.62%
- 6M
- 11.24%
- YTD
- 11.90%
- 1Y
- 17.03%
- 3Y*
- 13.88%
- 5Y*
- 10.50%
- 10Y*
- —
- ALL TIME*
- 11.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $58.88K | $787.99K | $467.16K | |
| $189.58M | $189.56M | $234.35M |
UVXY vs. APRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
UVXY ProShares Ultra VIX Short-Term Futures ETF | -35.49% | -65.32% | -50.90% | -87.70% | -44.81% | -88.33% | -68.28% |
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF | 11.90% | 7.99% | 15.15% | 22.13% | -6.41% | 11.89% | 9.46% |
Correlation
The correlation between UVXY and APRT is -0.82, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.82 |
Correlation (3Y) Balances recent behavior with more history. | -0.77 |
Correlation (5Y) Shows whether the relationship held over a longer 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 -0.82 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 | -4.11 | ||
| Sortino ratioReturn per unit of downside risk | -6.95 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.78 | -0.94 |
| Calmar ratioReturn relative to maximum drawdown | -0.99 | 10.75 | -11.73 |
| Martin ratioReturn relative to average drawdown | -1.47 | 48.58 | -50.04 |
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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 | -71.36% | -1.59% | -69.77% |
Max Drawdown (3Y)Largest decline over 3 years | -95.42% | -14.98% | -80.44% |
Max Drawdown (5Y)Largest decline over 5 years | -99.68% | -14.98% | -84.70% |
Max Drawdown (10Y)Largest decline over 10 years | -100.00% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | 0.00% | -100.00% |
Average DrawdownAverage peak-to-trough decline | -98.76% | -2.01% | -96.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.86% | 0.35% | +47.51% |
Volatility
UVXY vs. APRT - Volatility Comparison
ProShares Ultra VIX Short-Term Futures ETF (UVXY) has a higher volatility of 21.98% compared to AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT) at 1.55%. 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 | 21.98% | 1.55% | +20.43% |
Volatility (6M)Calculated over the trailing 6-month period | 65.18% | 4.53% | +60.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 86.32% | 5.23% | +81.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 103.35% | 10.79% | +92.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 112.07% | 10.19% | +101.88% |
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 -0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UVXY has higher volatility (21.98%) compared to APRT (1.55%). In terms of maximum drawdown, UVXY dropped -100.00% vs APRT's -14.98%.
On 5-year performance, APRT leads with 10.50% vs -67.81% for UVXY. On fees, APRT is cheaper at 0.74% per year. On volatility, APRT has been the lower-risk option at 1.55%. 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 10.50% return vs -67.81%. 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 (3.29 vs -0.82), 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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