VIXY vs. APRT
VIXY (ProShares VIX Short-Term Futures ETF) and APRT (AllianzIM U.S. Large Cap Buffer10 Apr ETF) are both exchange-traded funds - VIXY is a Volatility fund tracking the S&P 500 VIX Short-Term Futures Index, while APRT is a Options Trading fund actively managed by Allianz. VIXY is passively managed, while APRT is actively managed. Over the past 5 years, VIXY returned -45.73%/yr vs 10.34%/yr for APRT. At a correlation of -0.74, they often move in opposite directions. VIXY charges 0.85%/yr vs 0.74%/yr for APRT.
Performance
VIXY vs. APRT - Performance Comparison
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Returns By Period
In the year-to-date period, VIXY achieves a -12.32% return, which is significantly lower than APRT's 9.37% return.
VIXY
- 1D
- -1.88%
- 1M
- -8.77%
- YTD
- -12.32%
- 6M
- -14.17%
- 1Y
- -52.56%
- 3Y*
- -40.34%
- 5Y*
- -45.73%
- 10Y*
- -48.70%
APRT
- 1D
- 0.14%
- 1M
- -0.20%
- YTD
- 9.37%
- 6M
- 9.41%
- 1Y
- 16.98%
- 3Y*
- 13.90%
- 5Y*
- 10.34%
- 10Y*
- —
VIXY vs. APRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VIXY ProShares VIX Short-Term Futures ETF | -12.32% | -43.05% | -27.43% | -72.74% | -24.98% | -72.40% | -49.67% |
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF | 9.37% | 7.99% | 15.15% | 22.13% | -6.41% | 11.89% | 9.46% |
Correlation
The correlation between VIXY 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 | -0.76 |
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 VIXY 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
VIXY vs. APRT — Risk / Return Rank
VIXY
APRT
VIXY vs. APRT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares VIX Short-Term Futures ETF (VIXY) 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.
| VIXY | APRT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.29 | ||
| Sortino ratioReturn per unit of downside risk | -7.19 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.82 | -0.99 |
| Calmar ratioReturn relative to maximum drawdown | -0.98 | 10.72 | -11.69 |
| Martin ratioReturn relative to average drawdown | -1.49 | 50.66 | -52.15 |
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Drawdowns
VIXY vs. APRT - Drawdown Comparison
The maximum VIXY 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 VIXY and APRT.
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Drawdown Indicators
| VIXY | APRT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -100.00% | -14.98% | -85.02% |
Max Drawdown (1Y)Largest decline over 1 year | -54.02% | -1.59% | -52.43% |
Max Drawdown (3Y)Largest decline over 3 years | -79.94% | -14.98% | -64.96% |
Max Drawdown (5Y)Largest decline over 5 years | -96.20% | -14.98% | -81.22% |
Max Drawdown (10Y)Largest decline over 10 years | -99.86% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -0.67% | -99.33% |
Average DrawdownAverage peak-to-trough decline | -92.19% | -2.04% | -90.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 35.44% | 0.34% | +35.10% |
Volatility
VIXY vs. APRT - Volatility Comparison
ProShares VIX Short-Term Futures ETF (VIXY) has a higher volatility of 16.84% compared to AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT) at 1.80%. This indicates that VIXY'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
| VIXY | APRT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.84% | 1.80% | +15.04% |
Volatility (6M)Calculated over the trailing 6-month period | 43.74% | 4.32% | +39.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 56.03% | 5.09% | +50.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.37% | 10.80% | +59.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.91% | 10.26% | +61.65% |
VIXY vs. APRT - Expense Ratio Comparison
VIXY has a 0.85% expense ratio, which is higher than APRT's 0.74% expense ratio.
Dividends
VIXY vs. APRT - Dividend Comparison
Neither VIXY 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% |
VIXY ProShares VIX Short-Term Futures ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VIXY 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.
VIXY has higher volatility (16.84%) compared to APRT (1.80%). In terms of maximum drawdown, VIXY dropped -100.00% vs APRT's -14.98%.
On 5-year performance, APRT leads with 10.34% vs -45.73% for VIXY. On fees, APRT is cheaper at 0.74% per year. On volatility, APRT has been the lower-risk option at 1.80%. 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 10.34% return vs -45.73%. 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 VIXY.
VIXY and APRT have nearly identical dividend yields, around 0.00%.
VIXY 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 VIXY and 0.74% for APRT.
APRT currently has the higher Sharpe Ratio (3.35 vs -0.94), 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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