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 -14.33%/yr vs 10.50%/yr for APRT. Their -0.71 correlation means they have often moved in opposite directions in the past. 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 -5.57% return, which is significantly lower than APRT's 11.90% return.
VIXM
- 1D
- 0.21%
- 1M
- 0.70%
- 6M
- -5.57%
- YTD
- -5.57%
- 1Y
- -14.47%
- 3Y*
- -10.95%
- 5Y*
- -14.33%
- 10Y*
- -11.18%
- ALL TIME*
- -18.02%
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 | |
| $8.24M | $6.07M | $4.69M |
VIXM vs. APRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VIXM ProShares VIX Mid-Term Futures ETF | -5.57% | 5.60% | -13.67% | -44.83% | -0.69% | -16.70% | -7.23% |
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 VIXM and APRT is -0.76, 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. | -0.76 |
Correlation (3Y) Balances recent behavior with more history. | -0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.71 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2020 | -0.71 |
The correlation between VIXM and APRT has been stable across timeframes, ranging from -0.76 to -0.69 - 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.
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.
| VIXM | APRT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.08 | ||
| Sortino ratioReturn per unit of downside risk | -6.55 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.78 | -0.90 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 10.75 | -11.50 |
| Martin ratioReturn relative to average drawdown | -1.43 | 48.58 | -50.00 |
Loading charts...
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 | -19.36% | -1.59% | -17.77% |
Max Drawdown (3Y)Largest decline over 3 years | -37.26% | -14.98% | -22.28% |
Max Drawdown (5Y)Largest decline over 5 years | -63.40% | -14.98% | -48.42% |
Max Drawdown (10Y)Largest decline over 10 years | -72.34% | — | — |
Current DrawdownCurrent decline from peak | -96.04% | 0.00% | -96.04% |
Average DrawdownAverage peak-to-trough decline | -81.65% | -2.01% | -79.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.17% | 0.35% | +9.82% |
Volatility
VIXM vs. APRT - Volatility Comparison
ProShares VIX Mid-Term Futures ETF (VIXM) has a higher volatility of 3.09% compared to AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT) at 1.55%. 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 | 3.09% | 1.55% | +1.54% |
Volatility (6M)Calculated over the trailing 6-month period | 13.72% | 4.53% | +9.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.41% | 5.23% | +13.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.50% | 10.79% | +19.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.61% | 10.19% | +22.42% |
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 -0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIXM has higher volatility (3.09%) compared to APRT (1.55%). In terms of maximum drawdown, VIXM dropped -96.23% vs APRT's -14.98%.
On 5-year performance, APRT leads with 10.50% vs -14.33% for VIXM. 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 -14.33%. 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 (3.29 vs -0.79), 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