Data as of Oct 28, 2026.
APRZ vs SPYM: Differences, Returns & Fees
Over the year to Oct 28, 2026, APRZ returned +8.0% to SPYM's +13.7%, and SPYM charges 0.02% to APRZ's 0.79%.
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Net assets on Oct 27, 2026: $33m for TrueShares Structured Outcome (April) ETF and $185.0bn for State Street SPDR Portfolio S&P 500 ETF.
Pair scorecard
SPYM costs 0.77 points a year less; their one-year returns differ by 5.7 points; SPYM is far larger, $185.0bn against $33m.
| Measure | APRZ | SPYM |
|---|---|---|
| Return | ||
| Total return, 1 year | +8.0% | +13.7% |
| Drawdown | ||
| Index fall to the buffer | 15.2% | |
| Fund price fall to the buffer | 11.8% | |
| Benchmark | ||
| What it tracks | SPX | S&P 500 Index |
| The outcome period | ||
| Buffer left, in index points | 10.0% of 10.0% | |
| Days left in the period | 156 | |
| Period ends | Mar 31, 2027 | |
| Cost and size | ||
| Expense ratio | 0.79% | 0.02% |
| Net assets, as of Oct 27, 2026 | $33m | $185.0bn |
| Holdings | ||
| Holdings in common | not published | |
| In the S&P 500, by weight | 100% | |
| Top ten holdings, share of the fund | 38.1% | |
Risk and return
Apr 9, 2021 to Oct 23, 2026 · 289 weekly returnsEach against its own benchmark: APRZ against SPY, Apr 9, 2021 to Oct 23, 2026; SPYM against IVV, Nov 25, 2005 to Oct 23, 2026.
SPYM returned more: +99.5% to +73.1%. APRZ swung less: 11.6% to 15.7%. APRZ fell less at its worst: −17.5% to −23.9%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | APRZ | SPYM | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +73.1% | +99.5% | SPYM | Price change plus distributions, reinvested. |
| Annualized | +10.4% | +13.2% | SPYM | Total return as a yearly rate. |
| Price return | +57.6% | +84.9% | SPYM | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 11.6% | 15.7% | APRZ | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 7.8% | 10.4% | APRZ | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −17.5% | −23.9% | APRZ | Deepest fall from a high to the low after it. |
| Upside capture | 66.7% | 94.1% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 81.4% | 96.9% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 0.74 | 0.96 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.99 | 0.95 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.60 | 0.65 | SPYM (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 0.90 | 0.97 | SPYM (slight) | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.095 | 0.106 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.59 | 0.55 | APRZ (slight) | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | SPY | IVV | The ETF each fund is measured against. | |
| Alpha | −0.4% a year | +0.4% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.65 | 0.53 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −1.6% to +0.8% | −1.2% to +2.0% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.70 | 0.00 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 4.4% | 3.8% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 289 weekly returns. Cash rate: the 13-week Treasury bill.
Side by side
APRZ and SPYM on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
APRZ and SPYM do different jobs. What does each one do in a portfolio?
- What each follows. APRZ follows SPX and SPYM follows S&P 500 Index.
- One-year total return. Over 1 year to Oct 28, 2026 APRZ returned +8.0% and SPYM +13.7% with distributions reinvested, a gap of 5.7 points.
- Cost. APRZ charges 0.79% of assets a year and SPYM 0.02%, a gap of 0.77 points.
Data as of Oct 28, 2026.
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156 days remained on Oct 26, 2026.
This fund has no cap. It takes a share of any further rise in SPX. The fund's price can fall 11.8% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPX can fall 15.2% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPX level. On Mar 31, 2027 the period ends and new terms are set.
SPYM
SPYM tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.7% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.02% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 506 positions, with the top ten at 38.1%.
Questions people ask
- Are APRZ and SPYM in the same category?
- APRZ is a buffer ETF and SPYM is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, APRZ or SPYM?
- In the year to Oct 28, 2026, with distributions reinvested, APRZ returned +8.0% and SPYM +13.7%.
- Which is cheaper, APRZ or SPYM?
- SPYM is cheaper, by 0.77 percentage points a year. That is about $77 on $10,000 held for a year. Fees come from each fund's prospectus.
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ETFIQ, APRZ against SPYM, data as of Oct 28, 2026. https://etfiq.com/compare/any/aprz-vs-spym
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