DINE vs. TOAK

Last updated Jul 1, 2026

DINE (Simplify Tax Aware Diversified Income Strategy ETF) and TOAK (Twin Oak Short Horizon Absolute Return ETF) are both Multistrategy funds. Both are actively managed. At a 0.05 correlation, their price movements are largely independent. DINE charges 0.15%/yr vs 0.25%/yr for TOAK.

Performance

DINE vs. TOAK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Tax Aware Diversified Income Strategy ETF (DINE) and Twin Oak Short Horizon Absolute Return ETF (TOAK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DINE

• 1D: 0.10%
• 1M: 0.87%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TOAK

• 1D: 0.00%
• 1M: 0.26%
• YTD: 1.57%
• 6M: 1.46%
• 1Y: 3.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DINE vs. TOAK - Yearly Performance Comparison

	2026 (YTD)
DINE Simplify Tax Aware Diversified Income Strategy ETF	1.68%
TOAK Twin Oak Short Horizon Absolute Return ETF	0.49%

Correlation

The correlation between DINE and TOAK is 0.05, 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 (All Time) Calculated using the full available price history since May 5, 2026	0.05

Return for Risk

DINE vs. TOAK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DINE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

TOAK

TOAK Risk / Return Rank: 53
TOAK Sharpe Ratio Rank: 40
TOAK Sortino Ratio Rank: 40
TOAK Omega Ratio Rank: 97
TOAK Calmar Ratio Rank: 46
TOAK Martin Ratio Rank: 42

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DINE vs. TOAK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Tax Aware Diversified Income Strategy ETF (DINE) and Twin Oak Short Horizon Absolute Return ETF (TOAK). 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.

	DINE	TOAK	Difference
Sharpe ratio: Return per unit of total volatility	—	1.24	—
Sortino ratio: Return per unit of downside risk	—	1.85	—
Omega ratio: Gain probability vs. loss probability	—	1.76	—
Calmar ratio: Return relative to maximum drawdown	—	2.01	—
Martin ratio: Return relative to average drawdown	—	5.81	—

Drawdowns

DINE vs. TOAK - Drawdown Comparison

The maximum DINE drawdown since its inception was -1.23%, smaller than the maximum TOAK drawdown of -1.81%. Use the drawdown chart below to compare losses from any high point for DINE and TOAK.

Drawdown Indicators

	DINE	TOAK	Difference
Max Drawdown Largest peak-to-trough decline	-1.23%	-1.81%	+0.58%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.81%	—
Current Drawdown Current decline from peak	0.00%	-1.48%	+1.48%
Average Drawdown Average peak-to-trough decline	-0.25%	-0.16%	-0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.62%	—

Volatility

Volatility by Period

	DINE	TOAK	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.10%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.73%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.28%	2.91%	+1.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.28%	2.17%	+2.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.28%	2.17%	+2.11%

DINE vs. TOAK - Expense Ratio Comparison

DINE has a 0.15% expense ratio, which is lower than TOAK's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DINE vs. TOAK - Dividend Comparison

DINE's dividend yield for the trailing twelve months is around 0.20%, while TOAK has not paid dividends to shareholders.

Position	TTM
DINE Simplify Tax Aware Diversified Income Strategy ETF	0.20%
TOAK Twin Oak Short Horizon Absolute Return ETF	0.00%

Frequently Asked Questions

Can I hold both DINE and TOAK in my portfolio?

DINE and TOAK have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DINE or TOAK?

On fees, DINE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DINE or TOAK?

DINE is cheaper with a 0.15% expense ratio, compared with 0.25% for TOAK.

Which ETF pays a higher dividend yield, DINE or TOAK?

DINE has the higher dividend yield at 0.20%, compared with 0.00% for TOAK.

What is the main difference between DINE and TOAK?

They also come from different issuers: Simplify and Twin Oak. Their fees differ too: 0.15% for DINE and 0.25% for TOAK.