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 7.17%/yr vs 7.91%/yr for XPTFX. Their 0.00 correlation means their historical movements had little consistent relationship. 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 -3.00% return, which is significantly lower than XPTFX's 3.95% 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%
XPTFX
- 1D
- 0.00%
- 1M
- 0.50%
- 6M
- 3.33%
- YTD
- 3.95%
- 1Y
- 7.07%
- 3Y*
- 7.91%
- 5Y*
- 6.57%
- 10Y*
- —
- ALL TIME*
- 4.76%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.23M | $2.17M | $2.98M | |
| $0.00 | $0.00 | $0.00 |
CDX vs. XPTFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CDX Simplify High Yield ETF | -3.00% | 9.51% | 7.71% | 12.74% | -8.26% |
XPTFX Federated Hermes Project and Trade Finance Tender Fund | 3.95% | 7.47% | 8.62% | 8.55% | 3.43% |
Correlation
The correlation between CDX and XPTFX is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.09 |
Correlation (3Y) Balances recent behavior with more history. | 0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2022 | 0.00 |
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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 | -3.00 | ||
| Sortino ratioReturn per unit of downside risk | -4.29 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 4.11 | -3.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.60 | 3.68 | -4.28 |
| Martin ratioReturn relative to average drawdown | -1.44 | 11.56 | -12.99 |
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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 | -5.37% | -1.96% | -3.41% |
Max Drawdown (3Y)Largest decline over 3 years | -8.97% | -2.95% | -6.02% |
Max Drawdown (5Y)Largest decline over 5 years | — | -2.95% | — |
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% | 0.62% | +1.62% |
Volatility
CDX vs. XPTFX - Volatility Comparison
Simplify High Yield ETF (CDX) has a higher volatility of 2.02% 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 | 2.02% | 0.21% | +1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 5.16% | 0.60% | +4.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.98% | 2.93% | +3.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.97% | 2.53% | +8.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.97% | 2.00% | +8.97% |
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 8.33%, more than XPTFX's 6.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CDX Simplify High Yield ETF | 8.33% | 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 | 6.03% | 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 -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CDX has higher volatility (2.02%) 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 (2.46 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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