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 Total Return, 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 -47.10%/yr vs 10.68%/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 -11.58% return, which is significantly lower than APRT's 10.09% return.
VIXY
- 1D
- -3.61%
- 1M
- -18.16%
- YTD
- -11.58%
- 6M
- -24.83%
- 1Y
- -55.60%
- 3Y*
- -43.03%
- 5Y*
- -47.10%
- 10Y*
- -47.26%
APRT
- 1D
- 0.18%
- 1M
- 1.95%
- YTD
- 10.09%
- 6M
- 11.06%
- 1Y
- 19.31%
- 3Y*
- 14.55%
- 5Y*
- 10.68%
- 10Y*
- —
VIXY vs. APRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VIXY ProShares VIX Short-Term Futures ETF | -11.58% | -43.05% | -27.43% | -72.74% | -24.98% | -72.40% | -49.91% |
APRT AllianzIM U.S. Large Cap Buffer10 Apr ETF | 10.09% | 7.99% | 15.15% | 22.13% | -6.41% | 11.89% | 9.09% |
Correlation
The correlation between VIXY and APRT is -0.80, 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 | -0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.75 |
Correlation (All Time) Calculated using the full available price history since Jun 2, 2020 | -0.74 |
The correlation between VIXY and APRT has been stable across timeframes, ranging from -0.80 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.
| VIXY | APRT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.86 | ||
| Sortino ratioReturn per unit of downside risk | -8.49 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.98 | -1.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.96 | 12.19 | -13.15 |
| Martin ratioReturn relative to average drawdown | -1.38 | 66.51 | -67.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VIXY | APRT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.00 | 3.87 | -4.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.67 | 1.00 | -1.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.65 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.70 | 1.11 | -1.80 |
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 | -57.87% | -1.59% | -56.28% |
Max Drawdown (3Y)Largest decline over 3 years | -80.46% | -14.98% | -65.48% |
Max Drawdown (5Y)Largest decline over 5 years | -96.03% | -14.98% | -81.05% |
Max Drawdown (10Y)Largest decline over 10 years | -99.87% | — | — |
Current DrawdownCurrent decline from peak | -100.00% | -0.02% | -99.98% |
Average DrawdownAverage peak-to-trough decline | -92.19% | -2.05% | -90.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 40.38% | 0.29% | +40.09% |
Volatility
VIXY vs. APRT - Volatility Comparison
ProShares VIX Short-Term Futures ETF (VIXY) has a higher volatility of 8.49% compared to AllianzIM U.S. Large Cap Buffer10 Apr ETF (APRT) at 0.99%. 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 | 8.49% | 0.99% | +7.50% |
Volatility (6M)Calculated over the trailing 6-month period | 41.58% | 3.99% | +37.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.96% | 5.01% | +50.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.29% | 10.78% | +59.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.47% | 10.29% | +62.18% |
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 -0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIXY has higher volatility (8.49%) compared to APRT (0.99%). In terms of maximum drawdown, VIXY dropped -100.00% vs APRT's -14.98%.
On 5-year performance, APRT leads with 10.68% vs -47.10% for VIXY. On fees, APRT is cheaper at 0.74% per year. On volatility, APRT has been the lower-risk option at 0.99%. 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 10.68% return vs -47.10%. 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: ProFund Advisors LLC and Allianz. Their fees differ too: 0.85% for VIXY and 0.74% for APRT.
APRT currently has the higher Sharpe Ratio (3.87 vs -1.00), 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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