CDX vs. SVOL
CDX (Simplify High Yield ETF) and SVOL (Simplify Volatility Premium ETF) are both exchange-traded funds - CDX is a High Yield Bonds fund actively managed by Simplify, while SVOL is a Volatility fund actively managed by Simplify. Both are actively managed. Over the past 3 years, CDX returned 7.17%/yr vs 5.94%/yr for SVOL. Their 0.34 correlation means their historical movements had little consistent relationship. CDX charges 0.25%/yr vs 0.50%/yr for SVOL.
Performance
CDX vs. SVOL - 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 SVOL's 1.82% 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%
SVOL
- 1D
- 1.15%
- 1M
- 0.58%
- 6M
- 0.98%
- YTD
- 1.82%
- 1Y
- 18.14%
- 3Y*
- 5.94%
- 5Y*
- 6.94%
- 10Y*
- —
- ALL TIME*
- 7.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.23M | $2.17M | $2.98M | |
| $4.50M | $3.83M | $4.52M |
CDX vs. SVOL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CDX Simplify High Yield ETF | -3.00% | 9.51% | 7.71% | 12.74% | -8.26% |
SVOL Simplify Volatility Premium ETF | 1.82% | 2.41% | 6.77% | 22.88% | 3.76% |
Correlation
The correlation between CDX and SVOL is 0.25, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.25 |
Correlation (3Y) Balances recent behavior with more history. | 0.25 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2022 | 0.34 |
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Return for Risk
CDX vs. SVOL — Risk / Return Rank
CDX
SVOL
CDX vs. SVOL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify High Yield ETF (CDX) and Simplify Volatility Premium ETF (SVOL). 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 | SVOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.45 | ||
| Sortino ratioReturn per unit of downside risk | -2.12 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.18 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.60 | 1.37 | -1.98 |
| Martin ratioReturn relative to average drawdown | -1.44 | 4.00 | -5.43 |
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Drawdowns
CDX vs. SVOL - Drawdown Comparison
The maximum CDX drawdown since its inception was -13.24%, smaller than the maximum SVOL drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for CDX and SVOL.
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Drawdown Indicators
| CDX | SVOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.24% | -33.50% | +20.26% |
Max Drawdown (1Y)Largest decline over 1 year | -5.37% | -11.42% | +6.05% |
Max Drawdown (3Y)Largest decline over 3 years | -8.97% | -33.50% | +24.53% |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.50% | — |
Current DrawdownCurrent decline from peak | -7.94% | -1.33% | -6.61% |
Average DrawdownAverage peak-to-trough decline | -4.44% | -4.68% | +0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.24% | 3.92% | -1.68% |
Volatility
CDX vs. SVOL - Volatility Comparison
The current volatility for Simplify High Yield ETF (CDX) is 2.02%, while Simplify Volatility Premium ETF (SVOL) has a volatility of 4.16%. This indicates that CDX experiences smaller price fluctuations and is considered to be less risky than SVOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CDX | SVOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.02% | 4.16% | -2.14% |
Volatility (6M)Calculated over the trailing 6-month period | 5.16% | 9.66% | -4.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.98% | 17.23% | -11.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.97% | 21.96% | -10.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.97% | 21.74% | -10.77% |
CDX vs. SVOL - Expense Ratio Comparison
CDX has a 0.25% expense ratio, which is lower than SVOL's 0.50% expense ratio.
Dividends
CDX vs. SVOL - Dividend Comparison
CDX's dividend yield for the trailing twelve months is around 8.33%, less than SVOL's 22.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CDX Simplify High Yield ETF | 8.33% | 7.18% | 12.60% | 5.26% | 7.51% | 0.00% |
SVOL Simplify Volatility Premium ETF | 22.14% | 19.82% | 16.79% | 16.36% | 18.32% | 4.65% |
Frequently Asked Questions
CDX and SVOL have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SVOL has higher volatility (4.16%) compared to CDX (2.02%). In terms of maximum drawdown, CDX dropped -13.24% vs SVOL's -33.50%.
On 3-year performance, CDX leads with 7.17% vs 5.94% for SVOL. On fees, CDX is cheaper at 0.25% per year. On volatility, CDX has been the lower-risk option at 2.02%. 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 7.17% return vs 5.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CDX is cheaper with a 0.25% expense ratio, compared with 0.50% for SVOL.
SVOL has the higher dividend yield at 22.14%, compared with 8.33% for CDX.
CDX is categorized as High Yield Bonds, while SVOL is Volatility. Their fees differ too: 0.25% for CDX and 0.50% for SVOL.
SVOL currently has the higher Sharpe Ratio (0.91 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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