HEQT vs. SHUS

Last updated Aug 4, 2026

HEQT (Simplify Hedged Equity ETF) and SHUS (Stratified LargeCap Hedged ETF) are both Equity Hedged funds. Both are actively managed. Over the past year, HEQT returned 13.86% vs 18.95% for SHUS. Their 0.64 correlation means they have sometimes moved together and sometimes differently. HEQT charges 0.43%/yr vs 0.79%/yr for SHUS.

Performance

HEQT vs. SHUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Hedged Equity ETF (HEQT) and Stratified LargeCap Hedged ETF (SHUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HEQT achieves a 6.73% return, which is significantly lower than SHUS's 11.99% return.

HEQT

• 1D: 0.94%
• 1M: 1.56%
• 6M: 5.12%
• YTD: 6.73%
• 1Y: 13.86%
• 3Y*: 13.27%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.19%

SHUS

• 1D: 0.74%
• 1M: 0.95%
• 6M: 8.10%
• YTD: 11.99%
• 1Y: 18.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.87%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HEQT Simplify Hedged Equity ETF	$1.83M	$1.55M	$1.82M
SHUS Stratified LargeCap Hedged ETF	$376.99	$481.64	$2.74K

HEQT vs. SHUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HEQT Simplify Hedged Equity ETF	6.73%	10.08%	2.58%
SHUS Stratified LargeCap Hedged ETF	11.99%	10.89%	-2.65%

Correlation

The correlation between HEQT and SHUS is 0.60, 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.	0.60
Correlation (All Time) Calculated using the full available price history since Sep 30, 2024	0.64

The correlation between HEQT and SHUS has been stable across timeframes, ranging from 0.60 to 0.64 - a consistent structural relationship.

Return for Risk

HEQT vs. SHUS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HEQT

HEQT Risk / Return Rank: 83
HEQT Sharpe Ratio Rank: 84
HEQT Sortino Ratio Rank: 84
HEQT Omega Ratio Rank: 87
HEQT Calmar Ratio Rank: 76
HEQT Martin Ratio Rank: 85

SHUS

SHUS Risk / Return Rank: 76
SHUS Sharpe Ratio Rank: 77
SHUS Sortino Ratio Rank: 80
SHUS Omega Ratio Rank: 75
SHUS Calmar Ratio Rank: 73
SHUS Martin Ratio Rank: 74

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HEQT vs. SHUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Hedged Equity ETF (HEQT) and Stratified LargeCap Hedged ETF (SHUS). 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.

	HEQT	SHUS	Difference
Sharpe ratio: Return per unit of total volatility	2.00	1.89	+0.11
Sortino ratio: Return per unit of downside risk	2.83	2.77	+0.06
Omega ratio: Gain probability vs. loss probability	1.39	1.34	+0.06
Calmar ratio: Return relative to maximum drawdown	2.73	2.74	0.00
Martin ratio: Return relative to average drawdown	12.13	9.87	+2.25

HEQT vs. SHUS - Sharpe Ratio Comparison

The current HEQT Sharpe Ratio is 2.00, which is comparable to the SHUS Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of HEQT and SHUS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HEQT vs. SHUS - Drawdown Comparison

The maximum HEQT drawdown since its inception was -11.51%, smaller than the maximum SHUS drawdown of -14.09%. Use the drawdown chart below to compare losses from any high point for HEQT and SHUS.

Drawdown Indicators

	HEQT	SHUS	Difference
Max Drawdown Largest peak-to-trough decline	-11.51%	-14.09%	+2.58%
Max Drawdown (1Y) Largest decline over 1 year	-5.09%	-6.95%	+1.86%
Max Drawdown (3Y) Largest decline over 3 years	-10.57%	—	—
Current Drawdown Current decline from peak	0.00%	-0.33%	+0.33%
Average Drawdown Average peak-to-trough decline	-2.71%	-2.47%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.15%	1.92%	-0.77%

Volatility

HEQT vs. SHUS - Volatility Comparison

The current volatility for Simplify Hedged Equity ETF (HEQT) is 2.34%, while Stratified LargeCap Hedged ETF (SHUS) has a volatility of 2.87%. This indicates that HEQT experiences smaller price fluctuations and is considered to be less risky than SHUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEQT	SHUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.34%	2.87%	-0.53%
Volatility (6M) Calculated over the trailing 6-month period	5.76%	7.39%	-1.63%
Volatility (1Y) Calculated over the trailing 1-year period	6.98%	10.09%	-3.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.45%	12.41%	-3.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.45%	12.41%	-3.96%

HEQT vs. SHUS - Expense Ratio Comparison

HEQT has a 0.43% expense ratio, which is lower than SHUS's 0.79% expense ratio.

Dividends

HEQT vs. SHUS - Dividend Comparison

HEQT's dividend yield for the trailing twelve months is around 1.18%, less than SHUS's 1.23% yield.

Position	TTM	2025	2024	2023	2022	2021
HEQT Simplify Hedged Equity ETF	1.18%	1.19%	1.29%	4.10%	3.94%	0.27%
SHUS Stratified LargeCap Hedged ETF	1.23%	1.37%	0.26%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HEQT and SHUS in my portfolio?

HEQT and SHUS have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HEQT or SHUS?

SHUS has higher volatility (2.87%) compared to HEQT (2.34%). In terms of maximum drawdown, HEQT dropped -11.51% vs SHUS's -14.09%.

Which ETF is better, HEQT or SHUS?

On 1-year performance, SHUS leads with 18.95% vs 13.86% for HEQT. On fees, HEQT is cheaper at 0.43% per year. On volatility, HEQT has been the lower-risk option at 2.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HEQT or SHUS?

Over the 1-year period, SHUS has performed better with a 18.95% return vs 13.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HEQT or SHUS?

HEQT is cheaper with a 0.43% expense ratio, compared with 0.79% for SHUS.

Which ETF pays a higher dividend yield, HEQT or SHUS?

SHUS has the higher dividend yield at 1.23%, compared with 1.18% for HEQT.

What is the main difference between HEQT and SHUS?

They also come from different issuers: Simplify and Exchange Traded Concepts. Their fees differ too: 0.43% for HEQT and 0.79% for SHUS.

Which has better risk-adjusted returns?

HEQT currently has the higher Sharpe Ratio (2.00 vs 1.89), 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.