CDX vs. ASCIX
CDX (Simplify High Yield ETF) and ASCIX (Angel Oak Strategic Credit Fund) are both funds - CDX is a High Yield Bonds fund actively managed by Simplify, while ASCIX is a Nontraditional Bonds fund managed by Angel Oak. Over the past 3 years, CDX returned 7.17%/yr vs 8.87%/yr for ASCIX. Their 0.28 correlation means their historical movements had little consistent relationship. CDX charges 0.25%/yr vs 0.85%/yr for ASCIX.
Performance
CDX vs. ASCIX - Performance Comparison
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Returns By Period
In the year-to-date period, CDX achieves a -3.00% return, which is significantly lower than ASCIX's 2.99% return.
CDX
- 1D
- 0.10%
- 1M
- -0.57%
- 6M
- -3.06%
- YTD
- -3.00%
- 1Y
- -3.26%
- 3Y*
- 7.17%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.85%
ASCIX
- 1D
- -0.05%
- 1M
- -0.29%
- 6M
- 2.20%
- YTD
- 2.99%
- 1Y
- 5.39%
- 3Y*
- 8.87%
- 5Y*
- 7.30%
- 10Y*
- —
- ALL TIME*
- 6.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $2.23M | $2.17M | $2.98M |
CDX vs. ASCIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CDX Simplify High Yield ETF | -3.00% | 9.51% | 7.71% | 12.74% | -8.26% |
ASCIX Angel Oak Strategic Credit Fund | 2.99% | 8.04% | 11.06% | 11.95% | -4.58% |
Correlation
The correlation between CDX and ASCIX is 0.35, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.35 |
Correlation (3Y) Balances recent behavior with more history. | 0.27 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2022 | 0.28 |
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Return for Risk
CDX vs. ASCIX — Risk / Return Rank
CDX
ASCIX
CDX vs. ASCIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify High Yield ETF (CDX) and Angel Oak Strategic Credit Fund (ASCIX). 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.
| CDX | ASCIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.54 | ||
| Sortino ratioReturn per unit of downside risk | -4.57 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.58 | -0.66 |
| Calmar ratioReturn relative to maximum drawdown | -0.60 | 4.41 | -5.01 |
| Martin ratioReturn relative to average drawdown | -1.44 | 12.31 | -13.75 |
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Drawdowns
CDX vs. ASCIX - Drawdown Comparison
The maximum CDX drawdown since its inception was -13.24%, smaller than the maximum ASCIX drawdown of -25.70%. Use the drawdown chart below to compare losses from any high point for CDX and ASCIX.
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Drawdown Indicators
| CDX | ASCIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.24% | -25.70% | +12.46% |
Max Drawdown (1Y)Largest decline over 1 year | -5.37% | -1.49% | -3.88% |
Max Drawdown (3Y)Largest decline over 3 years | -8.97% | -1.49% | -7.48% |
Max Drawdown (5Y)Largest decline over 5 years | — | -7.54% | — |
Current DrawdownCurrent decline from peak | -7.94% | -0.34% | -7.60% |
Average DrawdownAverage peak-to-trough decline | -4.44% | -1.84% | -2.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.24% | 0.53% | +1.71% |
Volatility
CDX vs. ASCIX - Volatility Comparison
Simplify High Yield ETF (CDX) has a higher volatility of 2.02% compared to Angel Oak Strategic Credit Fund (ASCIX) at 0.35%. This indicates that CDX's price experiences larger fluctuations and is considered to be riskier than ASCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CDX | ASCIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.02% | 0.35% | +1.67% |
Volatility (6M)Calculated over the trailing 6-month period | 5.16% | 1.98% | +3.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.98% | 3.30% | +2.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.97% | 3.51% | +7.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.97% | 5.37% | +5.60% |
CDX vs. ASCIX - Expense Ratio Comparison
CDX has a 0.25% expense ratio, which is lower than ASCIX's 0.85% expense ratio.
Dividends
CDX vs. ASCIX - Dividend Comparison
CDX's dividend yield for the trailing twelve months is around 8.33%, more than ASCIX's 7.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ASCIX Angel Oak Strategic Credit Fund | 7.76% | 8.55% | 8.76% | 8.40% | 8.04% | 13.64% | 8.74% | 6.97% | 6.14% |
CDX Simplify High Yield ETF | 8.33% | 7.18% | 12.60% | 5.26% | 7.51% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CDX and ASCIX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CDX has higher volatility (2.02%) compared to ASCIX (0.35%). In terms of maximum drawdown, CDX dropped -13.24% vs ASCIX's -25.70%.
ASCIX currently has the higher Sharpe Ratio (2.00 vs -0.54), 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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