CDX vs. BUCK
CDX (Simplify High Yield PLUS Credit Hedge ETF) and BUCK (Simplify Treasury Option Income ETF) are both exchange-traded funds - CDX is a High Yield Bonds fund actively managed by Simplify, while BUCK is a Government Bonds fund actively managed by Simplify. Both are actively managed. Over the past 3 years, CDX returned 7.96%/yr vs 5.23%/yr for BUCK. At a 0.14 correlation, their price movements are largely independent. CDX charges 0.26%/yr vs 0.35%/yr for BUCK.
Performance
CDX vs. BUCK - Performance Comparison
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Returns By Period
In the year-to-date period, CDX achieves a -1.51% return, which is significantly lower than BUCK's 2.07% return.
CDX
- 1D
- -0.07%
- 1M
- 0.19%
- YTD
- -1.51%
- 6M
- -1.42%
- 1Y
- -1.26%
- 3Y*
- 7.96%
- 5Y*
- —
- 10Y*
- —
BUCK
- 1D
- -0.09%
- 1M
- 0.17%
- YTD
- 2.07%
- 6M
- 2.14%
- 1Y
- 6.97%
- 3Y*
- 5.23%
- 5Y*
- —
- 10Y*
- —
CDX vs. BUCK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CDX Simplify High Yield PLUS Credit Hedge ETF | -1.51% | 9.51% | 7.71% | 12.74% | 1.37% |
BUCK Simplify Treasury Option Income ETF | 2.07% | 4.13% | 7.25% | 4.63% | 0.59% |
Correlation
The correlation between CDX and BUCK is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2022 | 0.14 |
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Return for Risk
CDX vs. BUCK — Risk / Return Rank
CDX
BUCK
CDX vs. BUCK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify High Yield PLUS Credit Hedge ETF (CDX) and Simplify Treasury Option Income ETF (BUCK). 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 | BUCK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.57 | ||
| Sortino ratioReturn per unit of downside risk | -3.73 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.50 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 5.35 | -5.66 |
| Martin ratioReturn relative to average drawdown | -0.67 | 28.90 | -29.57 |
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Drawdowns
CDX vs. BUCK - Drawdown Comparison
The maximum CDX drawdown since its inception was -13.24%, which is greater than BUCK's maximum drawdown of -5.43%. Use the drawdown chart below to compare losses from any high point for CDX and BUCK.
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Drawdown Indicators
| CDX | BUCK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.24% | -5.43% | -7.81% |
Max Drawdown (1Y)Largest decline over 1 year | -4.18% | -1.31% | -2.87% |
Max Drawdown (3Y)Largest decline over 3 years | -8.88% | -5.43% | -3.45% |
Current DrawdownCurrent decline from peak | -6.53% | -0.09% | -6.44% |
Average DrawdownAverage peak-to-trough decline | -4.36% | -0.49% | -3.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | 0.24% | +1.66% |
Volatility
CDX vs. BUCK - Volatility Comparison
Simplify High Yield PLUS Credit Hedge ETF (CDX) has a higher volatility of 1.65% compared to Simplify Treasury Option Income ETF (BUCK) at 0.28%. This indicates that CDX's price experiences larger fluctuations and is considered to be riskier than BUCK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CDX | BUCK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.65% | 0.28% | +1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 4.83% | 1.38% | +3.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.79% | 2.98% | +2.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.06% | 3.46% | +7.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.06% | 3.46% | +7.60% |
CDX vs. BUCK - Expense Ratio Comparison
CDX has a 0.26% expense ratio, which is lower than BUCK's 0.35% expense ratio.
Dividends
CDX vs. BUCK - Dividend Comparison
CDX's dividend yield for the trailing twelve months is around 8.29%, more than BUCK's 7.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BUCK Simplify Treasury Option Income ETF | 7.40% | 7.59% | 8.84% | 4.84% | 0.59% |
CDX Simplify High Yield PLUS Credit Hedge ETF | 8.29% | 7.18% | 12.60% | 5.26% | 7.51% |
Frequently Asked Questions
CDX and BUCK have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CDX has higher volatility (1.65%) compared to BUCK (0.28%). In terms of maximum drawdown, CDX dropped -13.24% vs BUCK's -5.43%.
On 3-year performance, CDX leads with 7.96% vs 5.23% for BUCK. On fees, CDX is cheaper at 0.26% per year. On volatility, BUCK has been the lower-risk option at 0.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CDX has performed better with a 7.96% return vs 5.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CDX is cheaper with a 0.26% expense ratio, compared with 0.35% for BUCK.
CDX has the higher dividend yield at 8.29%, compared with 7.40% for BUCK.
CDX is categorized as High Yield Bonds, while BUCK is Government Bonds. Their fees differ too: 0.26% for CDX and 0.35% for BUCK.
BUCK currently has the higher Sharpe Ratio (2.35 vs -0.22), 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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