RFIX vs. PFIX
RFIX (Simplify Bond Bull ETF) and PFIX (Simplify Interest Rate Hedge ETF) are both exchange-traded funds - RFIX is a Nontraditional Bonds fund actively managed by Simplify, while PFIX is a Hedge Fund fund actively managed by Simplify. Both are actively managed. Over the past year, RFIX returned -14.76% vs -15.57% for PFIX. At a correlation of -0.67, they often move in opposite directions. Both charge a 0.50% expense ratio.
Performance
RFIX vs. PFIX - Performance Comparison
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Returns By Period
In the year-to-date period, RFIX achieves a 7.97% return, which is significantly higher than PFIX's -2.55% return.
RFIX
- 1D
- 0.99%
- 1M
- -2.56%
- YTD
- 7.97%
- 6M
- -2.48%
- 1Y
- -14.76%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PFIX
- 1D
- 0.36%
- 1M
- -3.76%
- YTD
- -2.55%
- 6M
- 1.53%
- 1Y
- -15.57%
- 3Y*
- 14.54%
- 5Y*
- 16.86%
- 10Y*
- —
RFIX vs. PFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
RFIX Simplify Bond Bull ETF | 7.97% | -28.43% | -12.32% |
PFIX Simplify Interest Rate Hedge ETF | -2.55% | 0.42% | 17.06% |
Correlation
The correlation between RFIX and PFIX is -0.55, 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 | -0.55 |
Correlation (All Time) Calculated using the full available price history since Dec 11, 2024 | -0.67 |
The correlation between RFIX and PFIX shifts across timeframes, from -0.67 (all time) to -0.55 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
RFIX vs. PFIX — Risk / Return Rank
RFIX
PFIX
RFIX vs. PFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Bond Bull ETF (RFIX) and Simplify Interest Rate Hedge ETF (PFIX). 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.
| RFIX | PFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.93 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | -0.61 | +0.03 |
| Martin ratioReturn relative to average drawdown | -1.01 | -0.96 | -0.05 |
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
| RFIX | PFIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.50 | -0.52 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.44 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.76 | 0.39 | -1.15 |
Drawdowns
RFIX vs. PFIX - Drawdown Comparison
The maximum RFIX drawdown since its inception was -38.79%, which is greater than PFIX's maximum drawdown of -36.17%. Use the drawdown chart below to compare losses from any high point for RFIX and PFIX.
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Drawdown Indicators
| RFIX | PFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.79% | -36.17% | -2.62% |
Max Drawdown (1Y)Largest decline over 1 year | -25.48% | -25.64% | +0.16% |
Max Drawdown (3Y)Largest decline over 3 years | — | -36.17% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.17% | — |
Current DrawdownCurrent decline from peak | -32.25% | -19.65% | -12.60% |
Average DrawdownAverage peak-to-trough decline | -24.11% | -17.13% | -6.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.70% | 16.35% | -1.65% |
Volatility
RFIX vs. PFIX - Volatility Comparison
The current volatility for Simplify Bond Bull ETF (RFIX) is 5.47%, while Simplify Interest Rate Hedge ETF (PFIX) has a volatility of 7.51%. This indicates that RFIX experiences smaller price fluctuations and is considered to be less risky than PFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RFIX | PFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.47% | 7.51% | -2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 20.35% | 20.89% | -0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.75% | 30.32% | -0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.90% | 38.50% | -7.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.90% | 38.35% | -7.45% |
RFIX vs. PFIX - Expense Ratio Comparison
Both RFIX and PFIX have an expense ratio of 0.50%.
Dividends
RFIX vs. PFIX - Dividend Comparison
RFIX's dividend yield for the trailing twelve months is around 4.63%, less than PFIX's 9.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | 9.96% | 9.92% | 3.40% | 87.92% | 0.63% | 0.00% |
RFIX Simplify Bond Bull ETF | 4.63% | 5.07% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RFIX and PFIX have a correlation of -0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFIX has higher volatility (7.51%) compared to RFIX (5.47%). In terms of maximum drawdown, RFIX dropped -38.79% vs PFIX's -36.17%.
On 1-year performance, RFIX leads with -14.76% vs -15.57% for PFIX. Both ETFs have the same 0.50% expense ratio. On volatility, RFIX has been the lower-risk option at 5.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, RFIX has performed better with a -14.76% return vs -15.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RFIX and PFIX have the same expense ratio: 0.50% per year.
PFIX has the higher dividend yield at 9.96%, compared with 4.63% for RFIX.
RFIX is categorized as Nontraditional Bonds, while PFIX is Hedge Fund.
RFIX currently has the higher Sharpe Ratio (-0.50 vs -0.52), 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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