EQLS vs. VMNFX

Last updated Jun 24, 2026

EQLS (Simplify Market Neutral Equity Long/Short ETF) and VMNFX (Vanguard Market Neutral Fund Investor Shares) are both Long-Short funds. At a 0.20 correlation, their price movements are largely independent. EQLS charges 1.00%/yr vs 1.31%/yr for VMNFX.

Performance

EQLS vs. VMNFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Market Neutral Equity Long/Short ETF (EQLS) and Vanguard Market Neutral Fund Investor Shares (VMNFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EQLS

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

VMNFX

• 1D: 1.20%
• 1M: 3.90%
• YTD: 14.39%
• 6M: 15.13%
• 1Y: 21.65%
• 3Y*: 13.93%
• 5Y*: 14.06%
• 10Y*: 5.23%

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

EQLS vs. VMNFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	6.82%	-4.82%	-3.67%
VMNFX Vanguard Market Neutral Fund Investor Shares	14.39%	9.27%	5.78%	12.22%

Correlation

The correlation between EQLS and VMNFX is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (All Time) Calculated using the full available price history since Jun 14, 2023	0.20

Return for Risk

EQLS vs. VMNFX — Risk / Return Rank

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

EQLS

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

VMNFX

VMNFX Risk / Return Rank: 88
VMNFX Sharpe Ratio Rank: 92
VMNFX Sortino Ratio Rank: 92
VMNFX Omega Ratio Rank: 85
VMNFX Calmar Ratio Rank: 93
VMNFX Martin Ratio Rank: 76

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. VMNFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Market Neutral Equity Long/Short ETF (EQLS) and Vanguard Market Neutral Fund Investor Shares (VMNFX). 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.

	EQLS	VMNFX	Difference
Sharpe ratio: Return per unit of total volatility	—	2.84	—
Sortino ratio: Return per unit of downside risk	—	4.31	—
Omega ratio: Gain probability vs. loss probability	—	1.53	—
Calmar ratio: Return relative to maximum drawdown	—	4.77	—
Martin ratio: Return relative to average drawdown	—	13.36	—

Drawdowns

Drawdown Indicators

	EQLS	VMNFX	Difference
Max Drawdown Largest peak-to-trough decline	—	-26.42%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-4.65%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-5.44%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-6.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-25.09%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-8.74%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.66%	—

Volatility

Volatility by Period

	EQLS	VMNFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.18%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.75%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	7.83%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	7.22%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	6.41%	—

EQLS vs. VMNFX - Expense Ratio Comparison

EQLS has a 1.00% expense ratio, which is lower than VMNFX's 1.31% expense ratio.

Dividends

EQLS vs. VMNFX - Dividend Comparison

EQLS has not paid dividends to shareholders, while VMNFX's dividend yield for the trailing twelve months is around 3.07%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	0.45%	0.95%	8.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VMNFX Vanguard Market Neutral Fund Investor Shares	3.07%	3.53%	5.61%	5.09%	0.75%	0.16%	0.81%	3.16%	0.94%	1.07%	0.38%	0.02%

Frequently Asked Questions

Can I hold both EQLS and VMNFX in my portfolio?

EQLS and VMNFX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.