CDX vs. MHY
CDX (Simplify High Yield ETF) and MHY (Man Active High Yield ETF) are both High Yield Bonds funds. Both are actively managed. Their 0.35 correlation means their historical movements had little consistent relationship. CDX charges 0.25%/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 -3.00% return, which is significantly lower than MHY's 5.89% 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%
MHY
- 1D
- 0.17%
- 1M
- 1.08%
- 6M
- 4.61%
- YTD
- 5.89%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.23M | $2.17M | $2.98M | |
| $556.61K | $942.75K | $448.26K |
CDX vs. MHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CDX Simplify High Yield ETF | -3.00% | -0.06% |
MHY Man Active High Yield ETF | 5.89% | 1.54% |
Correlation
The correlation between CDX and MHY is 0.35, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025 | 0.35 |
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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 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 | 0.92 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.60 | — | — |
| Martin ratioReturn relative to average drawdown | -1.44 | — | — |
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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 | -5.37% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -8.97% | — | — |
Current DrawdownCurrent decline from peak | -7.94% | 0.00% | -7.94% |
Average DrawdownAverage peak-to-trough decline | -4.44% | -0.26% | -4.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.24% | — | — |
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 | 2.02% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 5.16% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.98% | 2.91% | +3.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.97% | 2.91% | +8.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.97% | 2.91% | +8.06% |
CDX vs. MHY - Expense Ratio Comparison
CDX has a 0.25% 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 8.33%, more than MHY's 5.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CDX Simplify High Yield ETF | 8.33% | 7.18% | 12.60% | 5.26% | 7.51% |
MHY Man Active High Yield ETF | 5.21% | 3.42% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CDX and MHY 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.
On fees, CDX is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CDX is cheaper with a 0.25% expense ratio, compared with 0.69% for MHY.
CDX has the higher dividend yield at 8.33%, compared with 5.21% for MHY.
They also come from different issuers: Simplify and Man Group. Their fees differ too: 0.25% for CDX and 0.69% for MHY.
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