CDX vs. TIP
Compare and contrast key facts about Simplify High Yield PLUS Credit Hedge ETF (CDX) and iShares TIPS Bond ETF (TIP).
CDX and TIP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CDX is an actively managed fund by Simplify. It was launched on Feb 14, 2022. TIP is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L). It was launched on Dec 4, 2003.
Performance
CDX vs. TIP - Performance Comparison
Loading graphics...
CDX vs. TIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CDX Simplify High Yield PLUS Credit Hedge ETF | -1.78% | 9.51% | 7.71% | 12.74% | -8.12% |
TIP iShares TIPS Bond ETF | 0.41% | 6.77% | 1.65% | 3.80% | -8.32% |
Returns By Period
In the year-to-date period, CDX achieves a -1.78% return, which is significantly lower than TIP's 0.41% return.
CDX
- 1D
- 0.42%
- 1M
- -1.42%
- YTD
- -1.78%
- 6M
- -2.26%
- 1Y
- 0.75%
- 3Y*
- 7.88%
- 5Y*
- —
- 10Y*
- —
TIP
- 1D
- 0.00%
- 1M
- -1.08%
- YTD
- 0.41%
- 6M
- 0.15%
- 1Y
- 2.76%
- 3Y*
- 2.98%
- 5Y*
- 1.24%
- 10Y*
- 2.49%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
CDX vs. TIP - Expense Ratio Comparison
CDX has a 0.26% expense ratio, which is higher than TIP's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
CDX vs. TIP — Risk / Return Rank
CDX
TIP
CDX vs. TIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify High Yield PLUS Credit Hedge ETF (CDX) and iShares TIPS Bond ETF (TIP). 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.
| CDX | TIP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.05 | 0.67 | -0.62 |
Sortino ratioReturn per unit of downside risk | 0.19 | 0.93 | -0.74 |
Omega ratioGain probability vs. loss probability | 1.04 | 1.12 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | 0.13 | 1.03 | -0.90 |
Martin ratioReturn relative to average drawdown | 0.21 | 2.99 | -2.79 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| CDX | TIP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.05 | 0.67 | -0.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.20 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.57 | -0.16 |
Correlation
The correlation between CDX and TIP is 0.38, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
CDX vs. TIP - Dividend Comparison
CDX's dividend yield for the trailing twelve months is around 8.40%, more than TIP's 2.80% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CDX Simplify High Yield PLUS Credit Hedge ETF | 8.40% | 7.18% | 12.60% | 5.26% | 7.51% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TIP iShares TIPS Bond ETF | 2.80% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
Drawdowns
CDX vs. TIP - Drawdown Comparison
The maximum CDX drawdown since its inception was -13.24%, smaller than the maximum TIP drawdown of -14.57%. Use the drawdown chart below to compare losses from any high point for CDX and TIP.
Loading graphics...
Drawdown Indicators
| CDX | TIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.24% | -14.57% | +1.33% |
Max Drawdown (1Y)Largest decline over 1 year | -8.88% | -2.74% | -6.14% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.51% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.51% | — |
Current DrawdownCurrent decline from peak | -6.78% | -1.36% | -5.42% |
Average DrawdownAverage peak-to-trough decline | -4.24% | -3.46% | -0.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.48% | 0.94% | +4.54% |
Volatility
CDX vs. TIP - Volatility Comparison
Simplify High Yield PLUS Credit Hedge ETF (CDX) has a higher volatility of 3.10% compared to iShares TIPS Bond ETF (TIP) at 1.41%. This indicates that CDX's price experiences larger fluctuations and is considered to be riskier than TIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| CDX | TIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.10% | 1.41% | +1.69% |
Volatility (6M)Calculated over the trailing 6-month period | 4.15% | 2.35% | +1.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.10% | 4.15% | +11.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.24% | 6.22% | +5.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.24% | 5.75% | +5.49% |