EQLS vs. QIS

Last updated Apr 1, 2026

Compare and contrast key facts about Simplify Market Neutral Equity Long/Short ETF (EQLS) and Simplify Multi-Qis Alternative ETF (QIS).

EQLS and QIS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EQLS is an actively managed fund by Simplify. It was launched on Jun 13, 2023. QIS is an actively managed fund by Simplify. It was launched on Jul 10, 2023.

Performance

EQLS vs. QIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Market Neutral Equity Long/Short ETF (EQLS) and Simplify Multi-Qis Alternative ETF (QIS). The values are adjusted to include any dividend payments, if applicable.

EQLS vs. QIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	6.82%	-4.82%	-0.17%
QIS Simplify Multi-Qis Alternative ETF	-18.32%	-38.02%	0.19%	1.96%

Returns By Period

EQLS

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

QIS

• 1D: -4.55%
• 1M: -14.21%
• YTD: -18.32%
• 6M: -36.75%
• 1Y: -47.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EQLS vs. QIS - Expense Ratio Comparison

Both EQLS and QIS have an expense ratio of 1.00%.

EQLS

Simplify Market Neutral Equity Long/Short ETF

QIS

Simplify Multi-Qis Alternative ETF

Return for Risk

EQLS vs. QIS — Risk / Return Rank

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

QIS

QIS Risk / Return Rank: 0
QIS Sharpe Ratio Rank: 0
QIS Sortino Ratio Rank: 0
QIS Omega Ratio Rank: 0
QIS Calmar Ratio Rank: 0
QIS Martin Ratio Rank: 1

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.

EQLS vs. QIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Market Neutral Equity Long/Short ETF (EQLS) and Simplify Multi-Qis Alternative ETF (QIS). 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.

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

Sharpe Ratios by Period

	EQLS	QIS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-1.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	-0.80	—

Correlation

The correlation between EQLS and QIS is -0.02. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

EQLS vs. QIS - Dividend Comparison

EQLS has not paid dividends to shareholders, while QIS's dividend yield for the trailing twelve months is around 1.65%.

	TTM	2025	2024	2023
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	0.45%	0.95%	8.50%
QIS Simplify Multi-Qis Alternative ETF	1.65%	3.37%	1.07%	3.29%

Drawdowns

Drawdown Indicators

	EQLS	QIS	Difference
Max Drawdown Largest peak-to-trough decline	—	-52.12%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-51.77%	—
Current Drawdown Current decline from peak	—	-52.11%	—
Average Drawdown Average peak-to-trough decline	—	-11.42%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	29.06%	—

Volatility

Volatility by Period

	EQLS	QIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.26%	—
Volatility (6M) Calculated over the trailing 6-month period	—	25.31%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	40.80%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	26.91%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	26.91%	—