EPRF vs. GAEM
EPRF (Innovator S&P High Quality Preferred ETF) and GAEM (Simplify Gamma Emerging Market Bond ETF) are both exchange-traded funds - EPRF is a Preferred Stock fund tracking the S&P U.S. High Quality Preferred Stock Index, while GAEM is a Emerging Markets Bonds fund actively managed by Simplify. EPRF is passively managed, while GAEM is actively managed. Over the past year, EPRF returned -1.86% vs 10.20% for GAEM. Their 0.53 correlation means they have sometimes moved together and sometimes differently. EPRF charges 0.47%/yr vs 0.76%/yr for GAEM.
Performance
EPRF vs. GAEM - Performance Comparison
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Returns By Period
In the year-to-date period, EPRF achieves a -2.35% return, which is significantly lower than GAEM's 3.58% return.
EPRF
- 1D
- 0.11%
- 1M
- 0.38%
- 6M
- -3.64%
- YTD
- -2.35%
- 1Y
- -1.86%
- 3Y*
- 2.69%
- 5Y*
- -2.10%
- 10Y*
- —
- ALL TIME*
- 1.08%
GAEM
- 1D
- -0.16%
- 1M
- -0.96%
- 6M
- 2.59%
- YTD
- 3.58%
- 1Y
- 10.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $130.96K | $126.83K | $172.59K | |
| $246.87K | $265.32K | $263.25K |
EPRF vs. GAEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EPRF Innovator S&P High Quality Preferred ETF | -2.35% | 2.69% | 0.79% |
GAEM Simplify Gamma Emerging Market Bond ETF | 3.58% | 13.55% | 3.89% |
Correlation
The correlation between EPRF and GAEM is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.57 |
Correlation (All Time) Calculated using the full available price history since Aug 13, 2024 | 0.53 |
The correlation between EPRF and GAEM has been stable across timeframes, ranging from 0.53 to 0.57 - a consistent structural relationship.
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Return for Risk
EPRF vs. GAEM — Risk / Return Rank
EPRF
GAEM
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.
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.
| EPRF | GAEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.37 | ||
| Sortino ratioReturn per unit of downside risk | -3.60 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.41 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.23 | 2.84 | -3.07 |
| Martin ratioReturn relative to average drawdown | -0.41 | 12.42 | -12.84 |
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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.
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Drawdown Indicators
| EPRF | GAEM | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 (3Y)Largest decline over 3 years | -12.29% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -25.23% | — | — |
Current DrawdownCurrent decline from peak | -11.03% | -1.21% | -9.82% |
Average DrawdownAverage peak-to-trough decline | -7.44% | -0.52% | -6.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.83% | 0.82% | +4.01% |
Volatility
EPRF vs. GAEM - Volatility Comparison
Innovator S&P High Quality Preferred ETF (EPRF) has a higher volatility of 1.91% compared to Simplify Gamma Emerging Market Bond ETF (GAEM) at 1.33%. 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.
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Volatility by Period
| EPRF | GAEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.91% | 1.33% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 5.51% | 4.00% | +1.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.44% | 4.87% | +2.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.85% | 4.95% | +6.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.39% | 4.95% | +8.44% |
EPRF vs. GAEM - Expense Ratio Comparison
EPRF has a 0.47% expense ratio, which is lower than GAEM's 0.76% expense ratio.
Dividends
EPRF vs. GAEM - Dividend Comparison
EPRF's dividend yield for the trailing twelve months is around 6.18%, less than GAEM's 7.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EPRF Innovator S&P High Quality Preferred ETF | 6.18% | 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 | 7.14% | 6.50% | 3.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EPRF and GAEM have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EPRF has higher volatility (1.91%) compared to GAEM (1.33%). In terms of maximum drawdown, EPRF dropped -26.82% vs GAEM's -3.84%.
On 1-year performance, GAEM leads with 10.20% vs -1.86% for EPRF. On fees, EPRF is cheaper at 0.47% per year. On volatility, GAEM has been the lower-risk option at 1.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GAEM has performed better with a 10.20% return vs -1.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EPRF is cheaper with a 0.47% expense ratio, compared with 0.76% for GAEM.
GAEM has the higher dividend yield at 7.14%, compared with 6.18% for EPRF.
EPRF is categorized as Preferred Stock, while GAEM is Emerging Markets Bonds. They also come from different issuers: Innovator and Simplify. Their fees differ too: 0.47% for EPRF and 0.76% for GAEM.
GAEM currently has the higher Sharpe Ratio (2.11 vs -0.27), 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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