VIXM vs. APRT
VIXM (ProShares VIX Mid-Term Futures ETF) and APRT (AllianzIM U.S. Large Cap Buffer10 Apr ETF) are both exchange-traded funds - VIXM is a Volatility fund tracking the S&P 500 VIX Mid-Term Futures Index, while APRT is a Options Trading fund actively managed by Allianz. VIXM is passively managed, while APRT is actively managed. Over the past 5 years, VIXM returned -13.49%/yr vs 10.64%/yr for APRT. At a correlation of -0.71, they often move in opposite directions. VIXM charges 0.85%/yr vs 0.74%/yr for APRT.
Performance
VIXM vs. APRT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VIXM achieves a 1.31% return, which is significantly lower than APRT's 9.89% return.
VIXM
- 1D
- 0.39%
- 1M
- -2.34%
- YTD
- 1.31%
- 6M
- -2.83%
- 1Y
- -8.35%
- 3Y*
- -13.22%
- 5Y*
- -13.49%
- 10Y*
- -11.17%
APRT
- 1D
- -0.20%
- 1M
- 2.07%
- YTD
- 9.89%
- 6M
- 10.85%
- 1Y
- 19.10%
- 3Y*
- 14.42%
- 5Y*
- 10.64%
- 10Y*
- —
VIXM vs. APRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VIXM ProShares VIX Mid-Term Futures ETF | 1.31% | 5.60% | -13.67% | -44.83% | -0.69% | -16.70% | -7.32% |
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF | 9.89% | 7.99% | 15.15% | 22.13% | -6.41% | 11.89% | 9.09% |
Correlation
The correlation between VIXM and APRT is -0.74, 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 | -0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.71 |
Correlation (All Time) Calculated using the full available price history since Jun 2, 2020 | -0.71 |
The correlation between VIXM and APRT has been stable across timeframes, ranging from -0.74 to -0.67 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VIXM vs. APRT — Risk / Return Rank
VIXM
APRT
VIXM vs. APRT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares VIX Mid-Term Futures ETF (VIXM) 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.
| VIXM | APRT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.27 | ||
| Sortino ratioReturn per unit of downside risk | -7.26 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.97 | -1.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.55 | 12.06 | -12.61 |
| Martin ratioReturn relative to average drawdown | -0.96 | 65.68 | -66.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| VIXM | APRT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.44 | 3.83 | -4.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.44 | 0.99 | -1.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.34 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.55 | 1.11 | -1.65 |
Drawdowns
VIXM vs. APRT - Drawdown Comparison
The maximum VIXM drawdown since its inception was -96.23%, which is greater than APRT's maximum drawdown of -14.98%. Use the drawdown chart below to compare losses from any high point for VIXM and APRT.
Loading charts...
Drawdown Indicators
| VIXM | APRT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.23% | -14.98% | -81.25% |
Max Drawdown (1Y)Largest decline over 1 year | -15.22% | -1.59% | -13.63% |
Max Drawdown (3Y)Largest decline over 3 years | -41.41% | -14.98% | -26.43% |
Max Drawdown (5Y)Largest decline over 5 years | -63.40% | -14.98% | -48.42% |
Max Drawdown (10Y)Largest decline over 10 years | -75.72% | — | — |
Current DrawdownCurrent decline from peak | -95.75% | -0.20% | -95.55% |
Average DrawdownAverage peak-to-trough decline | -81.52% | -2.05% | -79.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.74% | 0.29% | +8.45% |
Volatility
VIXM vs. APRT - Volatility Comparison
ProShares VIX Mid-Term Futures ETF (VIXM) has a higher volatility of 3.19% compared to AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT) at 1.01%. This indicates that VIXM'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.
Loading charts...
Volatility by Period
| VIXM | APRT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 1.01% | +2.18% |
Volatility (6M)Calculated over the trailing 6-month period | 13.91% | 3.99% | +9.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.98% | 5.02% | +13.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.68% | 10.78% | +19.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.90% | 10.29% | +22.61% |
VIXM vs. APRT - Expense Ratio Comparison
VIXM has a 0.85% expense ratio, which is higher than APRT's 0.74% expense ratio.
Dividends
VIXM vs. APRT - Dividend Comparison
Neither VIXM 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% |
VIXM ProShares VIX Mid-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VIXM and APRT have a correlation of -0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIXM has higher volatility (3.19%) compared to APRT (1.01%). In terms of maximum drawdown, VIXM dropped -96.23% vs APRT's -14.98%.
On 5-year performance, APRT leads with 10.64% vs -13.49% for VIXM. 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 5-year period, APRT has performed better with a 10.64% return vs -13.49%. 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 0.85% for VIXM.
VIXM and APRT have nearly identical dividend yields, around 0.00%.
VIXM is categorized as Volatility, while APRT is Options Trading. They also come from different issuers: ProShares and Allianz. Their fees differ too: 0.85% for VIXM and 0.74% for APRT.
APRT currently has the higher Sharpe Ratio (3.83 vs -0.44), 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.
Find the right allocation for VIXM and APRT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer