Not true.
In real life APHE has a lower ballistic limit.
There’s a limit to AP penetration via increasing velocity, where an increase in velocity won’t increase the penetration anymore to the same degree as it does at lower velocity.
APHE shells reach that limit earlier, as they are more prone to shatter due to their cavity, which reduces the shells integrity.
But if that limit isn’t reached, both AP and APHE will behave the same way.
In WT APHE shells are just straight up worse than solid shot under and condition, when it comes to armor penetration.
But APHE also always fuze in the game, under any conditions. While in RL fuzes would often simply not function, when the shell was undergoing immense acceleration forces during penetrating of sloped armor. Where the shell is being pushed away from the impact, only to normalize again when it breaks through the armor. So that already balances out the reduced penetration.
There’s simply no need for APHE, which inherently will do more damage then solid shot, to have unrealistic performance as well.