CDX vs. XPTFX
CDX (Simplify High Yield ETF) and XPTFX (Federated Hermes Project and Trade Finance Tender Fund) are both funds - CDX is a High Yield Bonds fund actively managed by Simplify, while XPTFX is a Bank Loan fund managed by Federated. Over the past 3 years, CDX returned 7.14%/yr vs 7.99%/yr for XPTFX. At a 0.01 correlation, their price movements are largely independent. CDX charges 0.25%/yr vs 0.41%/yr for XPTFX.
Performance
CDX vs. XPTFX - Performance Comparison
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Returns By Period
In the year-to-date period, CDX achieves a -2.68% return, which is significantly lower than XPTFX's 3.54% return.
CDX
- 1D
- -0.38%
- 1M
- -1.14%
- 6M
- -2.81%
- YTD
- -2.68%
- 1Y
- -1.92%
- 3Y*
- 7.14%
- 5Y*
- —
- 10Y*
- —
XPTFX
- 1D
- 0.10%
- 1M
- 0.49%
- 6M
- 3.23%
- YTD
- 3.54%
- 1Y
- 7.28%
- 3Y*
- 7.99%
- 5Y*
- 6.51%
- 10Y*
- —
CDX vs. XPTFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CDX Simplify High Yield ETF | -2.68% | 9.51% | 7.71% | 12.74% | -8.26% |
XPTFX Federated Hermes Project and Trade Finance Tender Fund | 3.54% | 7.47% | 8.62% | 8.55% | 3.43% |
Correlation
The correlation between CDX and XPTFX is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2022 | 0.01 |
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Return for Risk
CDX vs. XPTFX — Risk / Return Rank
CDX
XPTFX
CDX vs. XPTFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify High Yield ETF (CDX) and Federated Hermes Project and Trade Finance Tender Fund (XPTFX). 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 | XPTFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.82 | ||
| Sortino ratioReturn per unit of downside risk | -4.04 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 4.15 | -3.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.46 | 3.73 | -4.20 |
| Martin ratioReturn relative to average drawdown | -0.96 | 11.73 | -12.69 |
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Drawdowns
CDX vs. XPTFX - Drawdown Comparison
The maximum CDX drawdown since its inception was -13.24%, which is greater than XPTFX's maximum drawdown of -2.95%. Use the drawdown chart below to compare losses from any high point for CDX and XPTFX.
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Drawdown Indicators
| CDX | XPTFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.24% | -2.95% | -10.29% |
Max Drawdown (1Y)Largest decline over 1 year | -4.18% | -1.96% | -2.22% |
Max Drawdown (3Y)Largest decline over 3 years | -8.88% | -2.95% | -5.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -2.95% | — |
Current DrawdownCurrent decline from peak | -7.63% | 0.00% | -7.63% |
Average DrawdownAverage peak-to-trough decline | -4.39% | -0.26% | -4.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 0.62% | +1.40% |
Volatility
CDX vs. XPTFX - Volatility Comparison
Simplify High Yield ETF (CDX) has a higher volatility of 1.79% compared to Federated Hermes Project and Trade Finance Tender Fund (XPTFX) at 0.21%. This indicates that CDX's price experiences larger fluctuations and is considered to be riskier than XPTFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CDX | XPTFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 0.21% | +1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 4.98% | 0.60% | +4.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.83% | 2.94% | +2.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.01% | 2.53% | +8.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.01% | 2.01% | +9.00% |
CDX vs. XPTFX - Expense Ratio Comparison
CDX has a 0.25% expense ratio, which is lower than XPTFX's 0.41% expense ratio.
Dividends
CDX vs. XPTFX - Dividend Comparison
CDX's dividend yield for the trailing twelve months is around 8.35%, more than XPTFX's 6.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CDX Simplify High Yield ETF | 8.35% | 7.18% | 12.60% | 5.26% | 7.51% | 0.00% | 0.00% | 0.00% | 0.00% |
XPTFX Federated Hermes Project and Trade Finance Tender Fund | 6.05% | 7.24% | 6.78% | 6.66% | 5.70% | 2.21% | 2.74% | 4.62% | 4.60% |
Frequently Asked Questions
CDX and XPTFX have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CDX has higher volatility (1.79%) compared to XPTFX (0.21%). In terms of maximum drawdown, CDX dropped -13.24% vs XPTFX's -2.95%.
XPTFX currently has the higher Sharpe Ratio (2.49 vs -0.33), 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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