HEQT vs. TIP
HEQT (Simplify Hedged Equity ETF) and TIP (iShares TIPS Bond ETF) are both exchange-traded funds - HEQT is a Options Trading fund actively managed by Simplify, while TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index. HEQT is actively managed, while TIP is passively managed. Over the past 3 years, HEQT returned 12.98%/yr vs 4.00%/yr for TIP. At a 0.18 correlation, their price movements are largely independent. HEQT charges 0.53%/yr vs 0.18%/yr for TIP.
Performance
HEQT vs. TIP - Performance Comparison
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Returns By Period
In the year-to-date period, HEQT achieves a 4.29% return, which is significantly higher than TIP's 1.40% return.
HEQT
- 1D
- 0.24%
- 1M
- 0.29%
- YTD
- 4.29%
- 6M
- 4.75%
- 1Y
- 13.60%
- 3Y*
- 12.98%
- 5Y*
- —
- 10Y*
- —
TIP
- 1D
- 0.01%
- 1M
- -0.21%
- YTD
- 1.40%
- 6M
- 1.42%
- 1Y
- 4.61%
- 3Y*
- 4.00%
- 5Y*
- 0.91%
- 10Y*
- 2.53%
HEQT vs. TIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HEQT Simplify Hedged Equity ETF | 4.29% | 10.08% | 18.30% | 16.61% | -8.25% | 2.11% |
TIP iShares TIPS Bond ETF | 1.40% | 6.77% | 1.65% | 3.80% | -12.26% | 1.67% |
Correlation
The correlation between HEQT and TIP is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2021 | 0.18 |
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Return for Risk
HEQT vs. TIP — Risk / Return Rank
HEQT
TIP
HEQT vs. TIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Hedged Equity ETF (HEQT) and iShares TIPS Bond ETF (TIP). 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 | TIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.24 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.68 | 2.34 | +0.34 |
| Martin ratioReturn relative to average drawdown | 12.16 | 7.00 | +5.16 |
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Drawdowns
HEQT vs. TIP - Drawdown Comparison
The maximum HEQT drawdown since its inception was -11.51%, smaller than the maximum TIP drawdown of -14.57%. Use the drawdown chart below to compare losses from any high point for HEQT and TIP.
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Drawdown Indicators
| HEQT | TIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.51% | -14.57% | +3.06% |
Max Drawdown (1Y)Largest decline over 1 year | -5.09% | -1.98% | -3.11% |
Max Drawdown (3Y)Largest decline over 3 years | -10.57% | -4.54% | -6.03% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.51% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.51% | — |
Current DrawdownCurrent decline from peak | -0.69% | -0.46% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -2.78% | -3.43% | +0.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 0.66% | +0.46% |
Volatility
HEQT vs. TIP - Volatility Comparison
Simplify Hedged Equity ETF (HEQT) has a higher volatility of 1.64% compared to iShares TIPS Bond ETF (TIP) at 1.03%. This indicates that HEQT's price experiences larger fluctuations and is considered to be riskier than TIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HEQT | TIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.64% | 1.03% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 5.45% | 2.32% | +3.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.52% | 3.39% | +3.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.47% | 6.21% | +2.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.47% | 5.74% | +2.73% |
HEQT vs. TIP - Expense Ratio Comparison
HEQT has a 0.53% expense ratio, which is higher than TIP's 0.18% expense ratio.
Dividends
HEQT vs. TIP - Dividend Comparison
HEQT's dividend yield for the trailing twelve months is around 1.20%, less than TIP's 3.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HEQT Simplify Hedged Equity ETF | 1.20% | 1.19% | 1.29% | 4.10% | 3.94% | 0.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TIP iShares TIPS Bond ETF | 3.76% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
Frequently Asked Questions
HEQT and TIP have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HEQT has higher volatility (1.64%) compared to TIP (1.03%). In terms of maximum drawdown, HEQT dropped -11.51% vs TIP's -14.57%.
On 3-year performance, HEQT leads with 12.98% vs 4.00% for TIP. On fees, TIP is cheaper at 0.18% per year. On volatility, TIP has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HEQT has performed better with a 12.98% return vs 4.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TIP is cheaper with a 0.18% expense ratio, compared with 0.53% for HEQT.
TIP has the higher dividend yield at 3.76%, compared with 1.20% for HEQT.
HEQT is categorized as Options Trading, while TIP is Inflation-Protected Bonds. They also come from different issuers: Simplify and iShares. Their fees differ too: 0.53% for HEQT and 0.18% for TIP.
HEQT currently has the higher Sharpe Ratio (2.09 vs 1.37), 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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