EZU vs. PFIX
EZU (iShares MSCI Eurozone ETF) and PFIX (Simplify Interest Rate Hedge ETF) are both exchange-traded funds - EZU is a Europe Equities fund tracking the MSCI EMU, while PFIX is a Hedge Fund fund actively managed by Simplify. EZU is passively managed, while PFIX is actively managed. Over the past 5 years, EZU returned 9.24%/yr vs 17.43%/yr for PFIX. At a correlation of -0.14, they often move in opposite directions. EZU charges 0.51%/yr vs 0.50%/yr for PFIX.
Performance
EZU vs. PFIX - Performance Comparison
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Returns By Period
In the year-to-date period, EZU achieves a 9.10% return, which is significantly higher than PFIX's -3.92% return.
EZU
- 1D
- 0.00%
- 1M
- 6.05%
- YTD
- 9.10%
- 6M
- 10.35%
- 1Y
- 22.18%
- 3Y*
- 18.40%
- 5Y*
- 9.24%
- 10Y*
- 10.85%
PFIX
- 1D
- -1.32%
- 1M
- -9.30%
- YTD
- -3.92%
- 6M
- -5.54%
- 1Y
- -12.06%
- 3Y*
- 15.02%
- 5Y*
- 17.43%
- 10Y*
- —
EZU vs. PFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EZU iShares MSCI Eurozone ETF | 9.10% | 40.00% | 2.23% | 23.44% | -17.25% | 1.34% |
PFIX Simplify Interest Rate Hedge ETF | -3.92% | 0.42% | 35.94% | 5.67% | 92.05% | -24.98% |
Correlation
The correlation between EZU and PFIX is -0.25, 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 | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since May 11, 2021 | -0.14 |
The correlation between EZU and PFIX shifts across timeframes, from -0.25 (1 year) to -0.13 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EZU vs. PFIX — Risk / Return Rank
EZU
PFIX
EZU vs. PFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Eurozone ETF (EZU) 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.
| EZU | PFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.49 | ||
| Sortino ratioReturn per unit of downside risk | +2.00 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 0.97 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | -0.40 | +1.95 |
| Martin ratioReturn relative to average drawdown | 5.60 | -0.62 | +6.22 |
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Drawdowns
EZU vs. PFIX - Drawdown Comparison
The maximum EZU drawdown since its inception was -65.32%, which is greater than PFIX's maximum drawdown of -36.17%. Use the drawdown chart below to compare losses from any high point for EZU and PFIX.
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Drawdown Indicators
| EZU | PFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.32% | -36.17% | -29.15% |
Max Drawdown (1Y)Largest decline over 1 year | -13.06% | -25.64% | +12.58% |
Max Drawdown (3Y)Largest decline over 3 years | -15.02% | -36.17% | +21.15% |
Max Drawdown (5Y)Largest decline over 5 years | -36.11% | -36.17% | +0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -41.37% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -20.78% | +20.78% |
Average DrawdownAverage peak-to-trough decline | -19.21% | -17.13% | -2.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.61% | 16.52% | -12.91% |
Volatility
EZU vs. PFIX - Volatility Comparison
The current volatility for iShares MSCI Eurozone ETF (EZU) is 6.52%, while Simplify Interest Rate Hedge ETF (PFIX) has a volatility of 8.38%. This indicates that EZU 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
| EZU | PFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.52% | 8.38% | -1.86% |
Volatility (6M)Calculated over the trailing 6-month period | 14.88% | 21.22% | -6.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.57% | 30.44% | -12.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.96% | 38.52% | -18.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.50% | 38.29% | -17.79% |
EZU vs. PFIX - Expense Ratio Comparison
EZU has a 0.51% expense ratio, which is higher than PFIX's 0.50% expense ratio.
Dividends
EZU vs. PFIX - Dividend Comparison
EZU's dividend yield for the trailing twelve months is around 2.61%, less than PFIX's 10.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EZU iShares MSCI Eurozone ETF | 2.61% | 2.85% | 2.90% | 2.56% | 2.79% | 2.46% | 2.13% | 2.84% | 3.47% | 1.91% | 3.07% | 2.18% |
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
EZU and PFIX have a correlation of -0.25, 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 EZU (6.52%). In terms of maximum drawdown, EZU dropped -65.32% vs PFIX's -36.17%.
On 5-year performance, PFIX leads with 17.43% vs 9.24% for EZU. On fees, PFIX is cheaper at 0.50% per year. On volatility, EZU has been the lower-risk option at 6.52%. 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 9.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFIX is cheaper with a 0.50% expense ratio, compared with 0.51% for EZU.
PFIX has the higher dividend yield at 10.11%, compared with 2.61% for EZU.
EZU is categorized as Europe Equities, while PFIX is Hedge Fund. They also come from different issuers: iShares and Simplify. Their fees differ too: 0.51% for EZU and 0.50% for PFIX.
EZU currently has the higher Sharpe Ratio (1.15 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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