CDX vs. MHY
CDX (Simplify High Yield PLUS Credit Hedge ETF) and MHY (Man Active High Yield ETF) are both High Yield Bonds funds. Both are actively managed. At a 0.41 correlation, their price movements are largely independent. CDX charges 0.26%/yr vs 0.69%/yr for MHY.
Performance
CDX vs. MHY - 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 MHY's 4.09% return.
CDX
- 1D
- 0.00%
- 1M
- 0.19%
- YTD
- -1.51%
- 6M
- -1.29%
- 1Y
- -1.35%
- 3Y*
- 7.96%
- 5Y*
- —
- 10Y*
- —
MHY
- 1D
- -0.04%
- 1M
- 1.72%
- YTD
- 4.09%
- 6M
- 4.14%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CDX vs. MHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CDX Simplify High Yield PLUS Credit Hedge ETF | -1.51% | -0.06% |
MHY Man Active High Yield ETF | 4.09% | 1.54% |
Correlation
The correlation between CDX and MHY is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025 | 0.41 |
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Return for Risk
CDX vs. MHY — Risk / Return Rank
CDX
MHY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CDX vs. MHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify High Yield PLUS Credit Hedge ETF (CDX) and Man Active High Yield ETF (MHY). 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 | MHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.97 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | — | — |
| Martin ratioReturn relative to average drawdown | -0.71 | — | — |
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Drawdowns
CDX vs. MHY - Drawdown Comparison
The maximum CDX drawdown since its inception was -13.24%, which is greater than MHY's maximum drawdown of -1.58%. Use the drawdown chart below to compare losses from any high point for CDX and MHY.
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Drawdown Indicators
| CDX | MHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.24% | -1.58% | -11.66% |
Max Drawdown (1Y)Largest decline over 1 year | -4.18% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -8.88% | — | — |
Current DrawdownCurrent decline from peak | -6.53% | -0.04% | -6.49% |
Average DrawdownAverage peak-to-trough decline | -4.36% | -0.29% | -4.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | — | — |
Volatility
CDX vs. MHY - Volatility Comparison
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Volatility by Period
| CDX | MHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.58% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 4.83% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.78% | 2.99% | +2.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.05% | 2.99% | +8.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.05% | 2.99% | +8.06% |
CDX vs. MHY - Expense Ratio Comparison
CDX has a 0.26% expense ratio, which is lower than MHY's 0.69% expense ratio.
Dividends
CDX vs. MHY - Dividend Comparison
CDX's dividend yield for the trailing twelve months is around 8.29%, more than MHY's 3.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CDX Simplify High Yield PLUS Credit Hedge ETF | 8.29% | 7.18% | 12.60% | 5.26% | 7.51% |
MHY Man Active High Yield ETF | 3.55% | 3.42% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CDX and MHY have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CDX is cheaper at 0.26% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CDX is cheaper with a 0.26% expense ratio, compared with 0.69% for MHY.
CDX has the higher dividend yield at 8.29%, compared with 3.55% for MHY.
They also come from different issuers: Simplify and Man Group. Their fees differ too: 0.26% for CDX and 0.69% for MHY.
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