EWO vs. PFIX
EWO (iShares MSCI Austria ETF) and PFIX (Simplify Interest Rate Hedge ETF) are both exchange-traded funds - EWO is a Europe Equities fund tracking the MSCI Austria Investable Market Index, while PFIX is a Hedge Fund fund actively managed by Simplify. EWO is passively managed, while PFIX is actively managed. Over the past 5 years, EWO returned 15.56%/yr vs 17.43%/yr for PFIX. At a correlation of -0.08, they often move in opposite directions. EWO charges 0.49%/yr vs 0.50%/yr for PFIX.
Performance
EWO vs. PFIX - Performance Comparison
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Returns By Period
In the year-to-date period, EWO achieves a 18.55% return, which is significantly higher than PFIX's -3.92% return.
EWO
- 1D
- 1.37%
- 1M
- 7.96%
- YTD
- 18.55%
- 6M
- 23.71%
- 1Y
- 48.35%
- 3Y*
- 33.19%
- 5Y*
- 15.56%
- 10Y*
- 15.10%
PFIX
- 1D
- -1.32%
- 1M
- -9.30%
- YTD
- -3.92%
- 6M
- -5.54%
- 1Y
- -12.06%
- 3Y*
- 15.02%
- 5Y*
- 17.43%
- 10Y*
- —
EWO vs. PFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EWO iShares MSCI Austria ETF | 18.55% | 74.21% | 4.05% | 20.63% | -21.95% | 7.58% |
PFIX Simplify Interest Rate Hedge ETF | -3.92% | 0.42% | 35.94% | 5.67% | 92.05% | -24.98% |
Correlation
The correlation between EWO and PFIX is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since May 11, 2021 | -0.08 |
The correlation between EWO and PFIX shifts across timeframes, from -0.20 (1 year) to -0.08 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EWO vs. PFIX — Risk / Return Rank
EWO
PFIX
EWO vs. PFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Austria ETF (EWO) and Simplify Interest Rate Hedge ETF (PFIX). 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.
| EWO | PFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.75 | ||
| Sortino ratioReturn per unit of downside risk | +3.64 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 0.97 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 3.28 | -0.40 | +3.68 |
| Martin ratioReturn relative to average drawdown | 11.10 | -0.62 | +11.71 |
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Drawdowns
EWO vs. PFIX - Drawdown Comparison
The maximum EWO drawdown since its inception was -75.69%, which is greater than PFIX's maximum drawdown of -36.17%. Use the drawdown chart below to compare losses from any high point for EWO and PFIX.
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Drawdown Indicators
| EWO | PFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.69% | -36.17% | -39.52% |
Max Drawdown (1Y)Largest decline over 1 year | -14.08% | -25.64% | +11.56% |
Max Drawdown (3Y)Largest decline over 3 years | -16.75% | -36.17% | +19.42% |
Max Drawdown (5Y)Largest decline over 5 years | -41.82% | -36.17% | -5.65% |
Max Drawdown (10Y)Largest decline over 10 years | -58.10% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -20.78% | +20.78% |
Average DrawdownAverage peak-to-trough decline | -28.10% | -17.13% | -10.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.16% | 16.52% | -12.36% |
Volatility
EWO vs. PFIX - Volatility Comparison
The current volatility for iShares MSCI Austria ETF (EWO) is 7.31%, while Simplify Interest Rate Hedge ETF (PFIX) has a volatility of 8.38%. This indicates that EWO experiences smaller price fluctuations and is considered to be less risky than PFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EWO | PFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.31% | 8.38% | -1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 15.88% | 21.22% | -5.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.19% | 30.44% | -11.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.95% | 38.52% | -16.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.88% | 38.29% | -15.41% |
EWO vs. PFIX - Expense Ratio Comparison
EWO has a 0.49% expense ratio, which is lower than PFIX's 0.50% expense ratio.
Dividends
EWO vs. PFIX - Dividend Comparison
EWO's dividend yield for the trailing twelve months is around 2.01%, less than PFIX's 10.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWO iShares MSCI Austria ETF | 2.01% | 2.38% | 7.40% | 5.66% | 4.75% | 2.42% | 0.98% | 3.11% | 4.04% | 2.03% | 1.99% | 1.51% |
PFIX Simplify Interest Rate Hedge ETF | 10.11% | 9.92% | 3.40% | 87.92% | 0.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EWO and PFIX 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.
PFIX has higher volatility (8.38%) compared to EWO (7.31%). In terms of maximum drawdown, EWO dropped -75.69% vs PFIX's -36.17%.
On 5-year performance, PFIX leads with 17.43% vs 15.56% for EWO. On fees, EWO is cheaper at 0.49% per year. On volatility, EWO has been the lower-risk option at 7.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PFIX has performed better with a 17.43% return vs 15.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EWO is cheaper with a 0.49% expense ratio, compared with 0.50% for PFIX.
PFIX has the higher dividend yield at 10.11%, compared with 2.01% for EWO.
EWO is categorized as Europe Equities, while PFIX is Hedge Fund. They also come from different issuers: iShares and Simplify. Their fees differ too: 0.49% for EWO and 0.50% for PFIX.
EWO currently has the higher Sharpe Ratio (2.41 vs -0.34), 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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