AMZP vs. HEQT

Last updated Jun 24, 2026

AMZP (Kurv Yield Premium Strategy Amazon AMZN ETF) and HEQT (Simplify Hedged Equity ETF) are both exchange-traded funds - AMZP is a Options Trading fund actively managed by Kurv, while HEQT is a Equity Hedged fund actively managed by Simplify. Both are actively managed. Over the past year, AMZP returned 11.65% vs 13.00% for HEQT. A 0.61 correlation means they provide meaningful diversification when combined. AMZP charges 0.99%/yr vs 0.43%/yr for HEQT.

Performance

AMZP vs. HEQT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kurv Yield Premium Strategy Amazon AMZN ETF (AMZP) and Simplify Hedged Equity ETF (HEQT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMZP achieves a -2.19% return, which is significantly lower than HEQT's 4.02% return.

AMZP

• 1D: 0.48%
• 1M: -13.35%
• YTD: -2.19%
• 6M: -2.18%
• 1Y: 11.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HEQT

• 1D: -0.71%
• 1M: -0.14%
• YTD: 4.02%
• 6M: 3.76%
• 1Y: 13.00%
• 3Y*: 12.95%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMZP vs. HEQT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AMZP Kurv Yield Premium Strategy Amazon AMZN ETF	-2.19%	9.56%	37.42%	7.73%
HEQT Simplify Hedged Equity ETF	4.02%	10.08%	18.30%	6.31%

Correlation

The correlation between AMZP and HEQT is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (All Time) Calculated using the full available price history since Nov 6, 2023	0.61

The correlation between AMZP and HEQT has been stable across timeframes, ranging from 0.55 to 0.61 - a consistent structural relationship.

Return for Risk

AMZP vs. HEQT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMZP

AMZP Risk / Return Rank: 14
AMZP Sharpe Ratio Rank: 14
AMZP Sortino Ratio Rank: 15
AMZP Omega Ratio Rank: 15
AMZP Calmar Ratio Rank: 14
AMZP Martin Ratio Rank: 14

HEQT

HEQT Risk / Return Rank: 63
HEQT Sharpe Ratio Rank: 62
HEQT Sortino Ratio Rank: 62
HEQT Omega Ratio Rank: 70
HEQT Calmar Ratio Rank: 54
HEQT Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMZP vs. HEQT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kurv Yield Premium Strategy Amazon AMZN ETF (AMZP) and Simplify Hedged Equity ETF (HEQT). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AMZP	HEQT	Difference
Sharpe ratio: Return per unit of total volatility	0.39	1.97	-1.58
Sortino ratio: Return per unit of downside risk	0.73	2.77	-2.04
Omega ratio: Gain probability vs. loss probability	1.09	1.40	-0.30
Calmar ratio: Return relative to maximum drawdown	0.50	2.56	-2.07
Martin ratio: Return relative to average drawdown	1.21	11.59	-10.38

AMZP vs. HEQT - Sharpe Ratio Comparison

The current AMZP Sharpe Ratio is 0.39, which is lower than the HEQT Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of AMZP and HEQT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AMZP vs. HEQT - Drawdown Comparison

The maximum AMZP drawdown since its inception was -27.36%, which is greater than HEQT's maximum drawdown of -11.51%. Use the drawdown chart below to compare losses from any high point for AMZP and HEQT.

Drawdown Indicators

	AMZP	HEQT	Difference
Max Drawdown Largest peak-to-trough decline	-27.36%	-11.51%	-15.85%
Max Drawdown (1Y) Largest decline over 1 year	-23.64%	-5.09%	-18.55%
Max Drawdown (3Y) Largest decline over 3 years	—	-10.57%	—
Current Drawdown Current decline from peak	-16.53%	-1.12%	-15.41%
Average Drawdown Average peak-to-trough decline	-6.16%	-2.77%	-3.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.67%	1.12%	+8.55%

Volatility

AMZP vs. HEQT - Volatility Comparison

Kurv Yield Premium Strategy Amazon AMZN ETF (AMZP) has a higher volatility of 10.66% compared to Simplify Hedged Equity ETF (HEQT) at 2.06%. This indicates that AMZP's price experiences larger fluctuations and is considered to be riskier than HEQT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMZP	HEQT	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.66%	2.06%	+8.60%
Volatility (6M) Calculated over the trailing 6-month period	23.61%	5.49%	+18.12%
Volatility (1Y) Calculated over the trailing 1-year period	30.20%	6.64%	+23.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.14%	8.47%	+18.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.14%	8.47%	+18.67%

AMZP vs. HEQT - Expense Ratio Comparison

AMZP has a 0.99% expense ratio, which is higher than HEQT's 0.43% expense ratio.

Dividends

AMZP vs. HEQT - Dividend Comparison

AMZP's dividend yield for the trailing twelve months is around 20.90%, more than HEQT's 1.20% yield.

Position	TTM	2025	2024	2023	2022	2021
AMZP Kurv Yield Premium Strategy Amazon AMZN ETF	20.90%	22.04%	15.15%	2.45%	0.00%	0.00%
HEQT Simplify Hedged Equity ETF	1.20%	1.19%	1.29%	4.10%	3.94%	0.27%

Frequently Asked Questions

Can I hold both AMZP and HEQT in my portfolio?

AMZP and HEQT 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.

Which is riskier, AMZP or HEQT?

AMZP has higher volatility (10.66%) compared to HEQT (2.06%). In terms of maximum drawdown, AMZP dropped -27.36% vs HEQT's -11.51%.

Which ETF is better, AMZP or HEQT?

On 1-year performance, HEQT leads with 13.00% vs 11.65% for AMZP. On fees, HEQT is cheaper at 0.43% per year. On volatility, HEQT has been the lower-risk option at 2.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMZP or HEQT?

Over the 1-year period, HEQT has performed better with a 13.00% return vs 11.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMZP or HEQT?

HEQT is cheaper with a 0.43% expense ratio, compared with 0.99% for AMZP.

Which ETF pays a higher dividend yield, AMZP or HEQT?

AMZP has the higher dividend yield at 20.90%, compared with 1.20% for HEQT.

What is the main difference between AMZP and HEQT?

AMZP is categorized as Options Trading, while HEQT is Equity Hedged. They also come from different issuers: Kurv and Simplify. Their fees differ too: 0.99% for AMZP and 0.43% for HEQT.

Which has better risk-adjusted returns?

HEQT currently has the higher Sharpe Ratio (1.97 vs 0.39), 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.