# How Apollo Global Management (APOS) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/apos
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on APOS alone. It places APOS (Apollo Global Management, Inc.) against 15 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken and diversification. The result is a clearer view of where APOS stands in the market, and of the alternatives worth a closer look.

Period covered: APOS's full trading record, from August 2023 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** Over the past 6 months, APOS rose 0.5% against 9.1% for the S&P 500 and 11.2% for the Nasdaq 100. On the flip side, both APOS and the S&P 500 are within a few percent of a record high.
- **Stock or market?:** APOS fell 0.5% over the past 3 months, in line with the corporate bonds ETF LQD (iShares iBoxx $ Investment Grade Corporate Bond ETF), which fell 2.4%. The S&P 500 rose 3.9%.
- **Past 1 to 3 years:** APOS has trailed the market, rising 2.7% over the past year against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The same gap shows up over 3 years (22.3% against 89.3%). The last two calendar years both went the same way: APOS rose 6.8% in 2025, against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100.
- **Long term:** APOS turned $10,000 into $12,200 over the past 3 years, against $18,900 in the S&P 500.
- **Diversification:** Over 3 years, APOS's beta versus the S&P 500 was 0.19: 27% of the S&P 500's gains in rising months and 14% of its losses in falling ones. Against the S&P 500, APOS has a correlation of 0.44 over 3 years, more closely than 74% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge.
- **Better options**
  - **Popular alternatives:** HYG (iShares iBoxx $ High Yield Corporate Bond ETF) earned more than APOS with less volatility over the past 3 years: 8.4% a year at 4.9% volatility, against 6.9% a year at 7.2%.
  - **Nearby categories and themes:** FPE (First Trust Preferred Securities and Income ETF, preferred securities) earned more than APOS with less volatility over the past 3 years: 9.3% a year at 4.8% volatility, against 6.9% a year at 7.2%.
  - **Whole market:** Few investments have done better on both counts: only 41 of the 3,928 stocks and funds worth at least $500 million earned more than APOS with less volatility over the past 3 years, among them USHY (iShares Broad USD High Yield Corporate Bond ETF), HYG (iShares iBoxx $ High Yield Corporate Bond ETF) and PYLD (PIMCO Multisector Bond Active Exchange-Traded Fund).

## How much would $10,000 in APOS have grown?

This chart tracks a hypothetical $10,000 investment in APOS over the past 3 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of APOS over the same span and APOS's popular alternatives, among those that traded for the entire period.

- $10,000 invested in APOS at the end of September 2023 would have grown to $12,221 by September 2026, less than the $18,498 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of APOS, and APO finished highest, at $13,541.

## APOS at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout.

- APOS's deepest decline since it began trading in 2023 was 4.5%, from December 2024 to January 2025. It took two months from the low to climb back to its old high.
- APOS is 2.7% below its all-time high.

- Type: Stock, Financials (Asset Management)
- Trading since: August 29, 2023
- Market value: $65B
- Volatility (3 years): 7.2%; Sharpe ratio: 0.97
- Worst decline ever: −4.5%, from December 5, 2024 to January 13, 2025; back at its high by March 5, 2025

| Period | APOS total return |
| --- | --- |
| 1 month | −1.4% |
| 3 months | −0.5% |
| 6 months | +0.5% |
| year to date | +0.6% |
| 1 year | +2.7% |
| 3 years | +22.3% |

## APOS against the whole market

Where APOS ranks among every stock and fund, and what across the market has done better.

### How does APOS rank among all stocks?

This section ranks APOS on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history.

- APOS is among the steadier stocks: its price swings rank in the top 1% of the 3,017 stocks worth at least $300 million, where the top is the calmest.

| Measure | APOS | Rank |
| --- | --- | --- |
| 1-year return | +2.7% | 1,873 of 3,287 (top 57%) |
| 3-year return | +22.3% | 1,978 of 3,017 (top 66%) |
| Volatility, 3 years | 7.2% | 6 of 3,017 (top 1%) |
| Sharpe ratio, 3 years | 0.97 | 681 of 3,017 (top 23%) |

### What has beaten APOS on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 3 years (higher is better) and how much its price swung, its volatility (further left is calmer).

- One stock and 40 ETFs worth at least $500 million sit in the green region: each earned more than APOS over the past 3 years with smaller price swings. That is 1% of the 3,928 screened. Few investments beat it on both counts.
- Among those with at least half APOS's swings, FPEI has the best return for its risk: 9.9% a year at 4.1% volatility, 44% less than APOS's 7.2%, and a Sharpe ratio (return above cash per unit of volatility) of 2.37 against 0.97 for APOS. EMHY earned the most, 12.5% a year, while still swinging less than APOS (6.7% against 7.2%).
- Among APOS's popular alternatives, HYG is in the region. HYG earned 8.4% a year against 6.9% a year for APOS, at 4.9% volatility, 31% less than APOS's 7.2%.

### Is there a better investment than APOS?

The table below lists investments that beat APOS over the past 3 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes.

- Among APOS's popular alternatives, HYG earned more than APOS with less volatility over the past 3 years: 8.4% a year at 4.9% volatility, against 6.9% a year at 7.2%.
- Looking beyond its popular alternatives, FPE (preferred securities) earned more than APOS with less volatility over the past 3 years: 9.3% a year at 4.8% volatility, against 6.9% a year at 7.2%.
- Few investments have done better on both counts: only 41 of the 3,928 stocks and funds worth at least $500 million earned more than APOS with less volatility over the past 3 years, among them USHY, HYG and PYLD.

The 15 strongest of 41 investments that beat APOS over the past 3 years, out of 3,928 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (3 years) | Volatility | Sharpe | Worst decline (10 years) | 3Y return | Correlation with APOS | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| APOS: Apollo Global Management, Inc. (this page) |  | +6.9% | 7.2% | 0.97 | −4.5% | +22.3% |  |  |
| PREF: Principal Spectrum Preferred Securities Active ETF | Bonds | +9.1% | 3.4% | 2.60 | −23.0% | +29.9% | 0.32 | Higher return, lower volatility |
| XEMD: BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | Bonds | +10.7% | 5.5% | 1.90 | −10.0% | +35.8% | 0.48 | Higher return, lower volatility |
| PYLD: PIMCO Multisector Bond Active Exchange-Traded Fund | Multisector Bonds | +8.5% | 3.8% | 2.21 | −4.5% | +27.9% | 0.45 | Higher return, lower volatility |
| ZALT: Innovator U.S. Equity 10 Buffer ETF - Quarterly | Broad Market | +10.8% | 6.1% | 1.72 | −8.2% | +36.0% |  | Higher return, lower volatility |
| BALT: Innovator Defined Wealth Shield ETF | Crypto | +8.0% | 3.4% | 2.28 | −4.9% | +26.1% | 0.40 | Higher return, lower volatility |
| USHY: iShares Broad USD High Yield Corporate Bond ETF | High Yield Bonds | +8.8% | 4.8% | 1.79 | −22.4% | +28.8% | 0.50 | Higher return, lower volatility |
| VWOB: Vanguard Emerging Markets Government Bond ETF | International Bonds | +9.6% | 6.7% | 1.41 | −26.7% | +31.6% | 0.50 | Higher return, lower volatility |
| FPE: First Trust Preferred Securities and Income ETF | Preferred Securities | +9.3% | 4.8% | 1.89 | −33.3% | +30.7% | 0.38 | Higher return, lower volatility |
| BSJR: Invesco BulletShares 2027 High Yield Corporate Bond ETF | Bonds | +8.2% | 3.5% | 2.26 | −22.6% | +26.7% | 0.59 | Higher return, lower volatility |
| CLOZ: Eldridge BBB-B CLO ETF | Bonds | +8.5% | 3.7% | 2.25 | −5.4% | +27.6% | 0.31 | Higher return, lower volatility |
| HYBL: State Street Blackstone High Income ETF | Bonds | +8.3% | 3.5% | 2.28 | −8.4% | +27.0% | 0.47 | Higher return, lower volatility |
| DOCT: FT Vest U.S. Equity Deep Buffer ETF - October | Multi-Asset | +12.3% | 6.7% | 1.78 | −9.9% | +41.5% | 0.45 | Higher return, lower volatility |
| AOK: iShares Core 30/70 Conservative Allocation ETF | Multi-Asset | +10.4% | 6.3% | 1.62 | −18.9% | +34.7% | 0.50 | Higher return, lower volatility |
| HYEM: VanEck Emerging Markets High Yield Bond ETF | Multi-Asset | +10.5% | 5.7% | 1.81 | −31.0% | +35.0% | 0.43 | Higher return, lower volatility |
| QAI: NYLI Hedge Multi-Strategy Tracker ETF | Alternatives | +9.1% | 6.5% | 1.39 | −14.9% | +29.9% | 0.43 | Higher return, lower volatility |

## APOS against its popular alternatives

The investments people most often weigh against APOS, compared period by period and year by year.

### How do APOS's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 3 years against its volatility, the size of its typical price swings.

- Only HYG was both more rewarding and calmer than APOS over the past 3 years, earning a higher annual return with lower volatility.
- Eight of the 15 popular alternatives earned less than APOS over the past 3 years while swinging more, the weaker corner of the map.
- Over the past 3 years, APOS returned 6.9% a year, less than the S&P 500's 23.7%, with lower volatility (7.2% against 15.2%).

### Has APOS consistently beaten its popular alternatives?

This section compares APOS with the investments people most often weigh against it, checking each one over six periods from one month to three years.

- None of the 15 popular alternatives outperformed APOS in at least 3 of 5 short-term and 1 of 1 long-term timeframes. The closest was APO.
- BNJ outperformed APOS over all one long-term periods but in none of the five short-term ones, so APOS has had the better of it lately.

| Investment | 1Y return | 3Y return | Periods ahead of APOS | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- |
| APOS: Apollo Global Management, Inc. (this page) | +2.7% | +22.3% |  |  | 0.97 |
| [APO](https://easycompare.io/research/apo): Apollo Global Management, Inc. | −9.7% | +41.4% | 0/5 short-term, 1/1 long-term |  | 0.50 |
| BEPI: Brookfield Renewable Partners L.P. | −2.5% | +34.9% | 0/5 short-term, 1/1 long-term |  | 0.71 |
| BEPH: Brookfield BRP Holdings (Canada) Inc 4.625 % Notes 2021-Without Fixed Maturity Global Sub | −3.5% | +32.3% | 0/5 short-term, 1/1 long-term |  | 0.64 |
| HYG: iShares iBoxx $ High Yield Corporate Bond ETF | +0.7% | +27.5% | 0/5 short-term, 1/1 long-term |  | 1.68 |
| BIPH: Brookfield Infrastructure Finance ULC 5 % Notes 2021-24.05.81 Global | −4.1% | +25.4% | 0/5 short-term, 1/1 long-term |  | 0.48 |
| [BNJ](https://easycompare.io/research/bnj): Brookfield Finance Inc. 4.50% P | −4.6% | +23.8% | 0/5 short-term, 1/1 long-term |  | 0.55 |
| [BND](https://easycompare.io/research/bnd): Vanguard Total Bond Market ETF | −2.1% | +15.7% | 1/5 short-term, 0/1 long-term |  | 1.00 |
| PFF: iShares Preferred and Income Securities ETF | −3.8% | +21.6% | 0/5 short-term, 0/1 long-term |  | 0.82 |
| PGX: Invesco Preferred ETF | −8.7% | +16.0% | 0/5 short-term, 0/1 long-term |  | 0.62 |
| SOJD: Southern Company (The) Series 2 | −12.5% | +6.4% | 0/5 short-term, 0/1 long-term |  | 0.23 |
| [SOJE](https://easycompare.io/research/soje): Southern Company (The) Series 2 | −11.3% | +5.5% | 0/5 short-term, 0/1 long-term |  | 0.21 |
| SOJC: The Southern Company JR 2017B NT 77 | −14.8% | +5.0% | 0/5 short-term, 0/1 long-term |  | 0.21 |
| DTW: DTE Energy Company 5.25 % Debentures 2017-01.12.77 Global | −15.3% | +2.5% | 0/5 short-term, 0/1 long-term |  | 0.13 |
| DTG: DTE Energy Company 2021 Series | −13.9% | +1.3% | 0/5 short-term, 0/1 long-term |  | 0.10 |
| DTB: DTE Energy Company 2020 Series | −14.4% | +0.5% | 0/5 short-term, 0/1 long-term |  | 0.08 |

### How did APOS do year by year?

This table shows each investment's total return in every full calendar year since 2024, along with where APOS ranked among its popular alternatives each year.

- Among its popular alternatives, HYG came out ahead of APOS most often, in all two years both traded.

| Year | APOS | SPY |
| --- | --- | --- |
| 2025 | +6.8% | +17.7% |
| 2024 | +3.6% | +24.9% |

## Risk and diversification

How APOS has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

### How closely does APOS move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell.

- None of the 15 popular alternatives with the same record had a higher capture ratio (upside capture divided by downside capture) than APOS's 1.90.
- Over the past 3 years, APOS captured 27% of the S&P 500's gains in rising months and 14% of its losses in falling months, with a beta of 0.19. That is a defensive profile: it gave up some of the market's upside in exchange for smaller losses.

Measured over the past 3 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| APOS: Apollo Global Management, Inc. (this page) | 27.0% | 14.0% | 0.19 |
| [APO](https://easycompare.io/research/apo): Apollo Global Management, Inc. | 124% | 299% | 1.43 |
| BEPI: Brookfield Renewable Partners L.P. | 66.0% | 114% | 0.64 |
| BEPH: Brookfield BRP Holdings (Canada) Inc 4.625 % Notes 2021-Without Fixed Maturity Global Sub | 60.0% | 112% | 0.71 |
| HYG: iShares iBoxx $ High Yield Corporate Bond ETF | 35.0% | 32.0% | 0.28 |
| BIPH: Brookfield Infrastructure Finance ULC 5 % Notes 2021-24.05.81 Global | 73.0% | 198% | 0.91 |
| [BNJ](https://easycompare.io/research/bnj): Brookfield Finance Inc. 4.50% P | 60.0% | 139% | 0.64 |
| [BND](https://easycompare.io/research/bnd): Vanguard Total Bond Market ETF | 23.0% | 34.0% | 0.22 |
| PFF: iShares Preferred and Income Securities ETF | 48.0% | 103% | 0.56 |
| PGX: Invesco Preferred ETF | 43.0% | 110% | 0.57 |
| SOJD: Southern Company (The) Series 2 | 36.0% | 136% | 0.60 |
| [SOJE](https://easycompare.io/research/soje): Southern Company (The) Series 2 | 32.0% | 135% | 0.55 |
| SOJC: The Southern Company JR 2017B NT 77 | 42.0% | 161% | 0.76 |
| DTW: DTE Energy Company 5.25 % Debentures 2017-01.12.77 Global | 46.0% | 179% | 0.85 |
| DTG: DTE Energy Company 2021 Series | 34.0% | 125% | 0.66 |
| DTB: DTE Energy Company 2020 Series | 40.0% | 180% | 0.77 |

### What diversifies APOS?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in APOS into LVHI would have cut the portfolio's volatility by 12% over the past 3 years and raised its annual return (+6.9% for APOS alone, +9.9% for the mix).
- Among large ETFs, LVHI, CLSE and SEIV have moved largely independently of APOS over the past 3 years, with correlations of 0.46 or lower, and each still earned a positive 3-year return.
- Among large stocks, CM, BNY and TIGO have moved largely independently of APOS over the past 3 years, with correlations of 0.48 or lower, and each still earned a positive 3-year return.

| Investment | Correlation with APOS | 3Y return | Volatility | Sharpe |
| --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.11 | +92.3% | 10.6% | 2.12 |
| CLSE: Convergence Long/Short Equity ETF | 0.22 | +115% | 13.8% | 1.93 |
| SEIV: SEI QiM U.S. Large Cap Value Active ETF | 0.46 | +114% | 14.7% | 1.81 |
| INCM: Franklin Income Focus ETF | 0.45 | +44.3% | 7.2% | 1.74 |
| [CGDV](https://easycompare.io/research/cgdv): Capital Group Dividend Value ETF | 0.48 | +97.2% | 13.7% | 1.73 |
| FMAR: FT Vest U.S. Equity Buffer ETF - March | 0.40 | +54.4% | 8.7% | 1.72 |
| VLUE: iShares MSCI USA Value Factor ETF | 0.37 | +136% | 17.8% | 1.71 |
| AVDV: Avantis International Small Cap Value ETF | 0.29 | +118% | 16.2% | 1.70 |

## Common questions

### What was APOS's worst drawdown?

APOS's deepest decline since it began trading in 2023 was 4.5%, from December 2024 to January 2025. It took two months from the low to climb back to its old high. Because APOS launched in August 2023, that record does not include the dot-com bust, the 2008 financial crisis or eight other sell-offs.

### What were APOS's best and worst years?

Over two full calendar years, APOS's best year was 2025, when it returned 6.8%. Its worst was 2024, with a return of +3.6%.

### Is there a better investment than APOS?

Among APOS's popular alternatives, HYG earned more than APOS with less volatility over the past 3 years: 8.4% a year at 4.9% volatility, against 6.9% a year at 7.2%. Looking beyond its popular alternatives, FPE (preferred securities) earned more than APOS with less volatility over the past 3 years: 9.3% a year at 4.8% volatility, against 6.9% a year at 7.2%.

### Is APOS more volatile than the S&P 500?

No. APOS's volatility over the past 3 years was 7.2%, 47% of the S&P 500's 15.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, APOS's return lands within 7.2% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is APOS's Sharpe ratio?

APOS's Sharpe ratio over the past 3 years was 0.97, against 1.48 for the S&P 500, so APOS earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

### How correlated is APOS with the S&P 500?

Over the past 3 years, APOS's monthly returns had a correlation of 0.44 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against APOS instead: the lower it is, the more that option would diversify a APOS holding.

### What are the best alternatives to APOS?

None of the 15 popular alternatives we compared outperformed APOS in at least 3 of 5 short-term and 1 of 1 long-term timeframes, which says more about APOS's strength than about its alternatives.

### What diversifies APOS?

These had a low correlation with APOS over the past 3 years and still earned a positive 3-year return: among large ETFs, LVHI (correlation 0.11), CLSE (correlation 0.22) and SEIV (correlation 0.46); among large stocks, CM (correlation 0.48), BNY (correlation 0.40) and TIGO (correlation 0.08). A correlation near zero means the two have moved largely independently.

## More research

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## Explore further

- Full page with charts: https://easycompare.io/research/apos
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against APOS live: https://betterthanspy.com/?b=APOS&utm_source=easycompare&utm_medium=research