EPRF vs. GAEM

Last updated Apr 1, 2026

Compare and contrast key facts about Innovator S&P High Quality Preferred ETF (EPRF) and Simplify Gamma Emerging Market Bond ETF (GAEM).

EPRF and GAEM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EPRF is a passively managed fund by Innovator that tracks the performance of the S&P U.S. High Quality Preferred Stock Index. It was launched on May 24, 2016. GAEM is an actively managed fund by Simplify. It was launched on Aug 12, 2024.

Performance

EPRF vs. GAEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator S&P High Quality Preferred ETF (EPRF) and Simplify Gamma Emerging Market Bond ETF (GAEM). The values are adjusted to include any dividend payments, if applicable.

EPRF vs. GAEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EPRF Innovator S&P High Quality Preferred ETF	-4.28%	2.69%	-0.40%
GAEM Simplify Gamma Emerging Market Bond ETF	-1.25%	13.55%	3.72%

Returns By Period

In the year-to-date period, EPRF achieves a -4.28% return, which is significantly lower than GAEM's -1.25% return.

EPRF

• 1D: 0.12%
• 1M: -3.39%
• YTD: -4.28%
• 6M: -6.59%
• 1Y: -0.37%
• 3Y*: 2.18%
• 5Y*: -2.07%
• 10Y*: —

GAEM

• 1D: 0.58%
• 1M: -2.64%
• YTD: -1.25%
• 6M: 1.75%
• 1Y: 9.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EPRF vs. GAEM - Expense Ratio Comparison

EPRF has a 0.47% expense ratio, which is lower than GAEM's 0.76% expense ratio.

GAEM

Simplify Gamma Emerging Market Bond ETF

EPRF

Innovator S&P High Quality Preferred ETF

Return for Risk

EPRF vs. GAEM — Risk / Return Rank

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

EPRF

EPRF Risk / Return Rank: 10
EPRF Sharpe Ratio Rank: 11
EPRF Sortino Ratio Rank: 10
EPRF Omega Ratio Rank: 10
EPRF Calmar Ratio Rank: 11
EPRF Martin Ratio Rank: 10

GAEM

GAEM Risk / Return Rank: 89
GAEM Sharpe Ratio Rank: 86
GAEM Sortino Ratio Rank: 91
GAEM Omega Ratio Rank: 88
GAEM Calmar Ratio Rank: 88
GAEM Martin Ratio Rank: 90

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.

EPRF vs. GAEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator S&P High Quality Preferred ETF (EPRF) and Simplify Gamma Emerging Market Bond ETF (GAEM). 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.

	EPRF	GAEM	Difference
Sharpe ratio Return per unit of total volatility	-0.04	1.78	-1.82
Sortino ratio Return per unit of downside risk	0.00	2.67	-2.67
Omega ratio Gain probability vs. loss probability	1.00	1.36	-0.36
Calmar ratio Return relative to maximum drawdown	-0.08	2.79	-2.86
Martin ratio Return relative to average drawdown	-0.20	11.88	-12.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EPRF vs. GAEM - Sharpe Ratio Comparison

The current EPRF Sharpe Ratio is -0.04, which is lower than the GAEM Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of EPRF and GAEM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EPRF	GAEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.04	1.78	-1.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	2.00	-1.94

Correlation

The correlation between EPRF and GAEM is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

EPRF vs. GAEM - Dividend Comparison

EPRF's dividend yield for the trailing twelve months is around 6.30%, less than GAEM's 6.72% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EPRF Innovator S&P High Quality Preferred ETF	6.30%	6.03%	6.13%	5.71%	5.67%	4.70%	4.92%	5.01%	5.27%	2.59%
GAEM Simplify Gamma Emerging Market Bond ETF	6.72%	6.50%	3.78%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

EPRF vs. GAEM - Drawdown Comparison

The maximum EPRF drawdown since its inception was -26.82%, which is greater than GAEM's maximum drawdown of -3.84%. Use the drawdown chart below to compare losses from any high point for EPRF and GAEM.

Drawdown Indicators

	EPRF	GAEM	Difference
Max Drawdown Largest peak-to-trough decline	-26.82%	-3.84%	-22.98%
Max Drawdown (1Y) Largest decline over 1 year	-8.59%	-3.61%	-4.98%
Max Drawdown (5Y) Largest decline over 5 years	-25.23%	—	—
Current Drawdown Current decline from peak	-12.78%	-2.80%	-9.98%
Average Drawdown Average peak-to-trough decline	-7.31%	-0.51%	-6.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	0.85%	+2.40%

Volatility

EPRF vs. GAEM - Volatility Comparison

Innovator S&P High Quality Preferred ETF (EPRF) has a higher volatility of 2.42% compared to Simplify Gamma Emerging Market Bond ETF (GAEM) at 2.27%. This indicates that EPRF's price experiences larger fluctuations and is considered to be riskier than GAEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EPRF	GAEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.42%	2.27%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	5.27%	3.37%	+1.90%
Volatility (1Y) Calculated over the trailing 1-year period	8.88%	5.50%	+3.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.73%	4.88%	+6.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.57%	4.88%	+8.69%