HEQT vs. TRIO

Last updated Jun 23, 2026

HEQT (Simplify Hedged Equity ETF) and TRIO (MC Trio Equity Buffered ETF) are both Equity Hedged funds. Both are actively managed. Over the past year, HEQT returned 14.00% vs 14.92% for TRIO. Their correlation of 0.86 suggests significant overlap in exposure. HEQT charges 0.43%/yr vs 0.70%/yr for TRIO.

Performance

HEQT vs. TRIO - Performance Comparison

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

Returns By Period

In the year-to-date period, HEQT achieves a 4.76% return, which is significantly lower than TRIO's 5.81% return.

HEQT

• 1D: -0.21%
• 1M: 0.57%
• YTD: 4.76%
• 6M: 4.67%
• 1Y: 14.00%
• 3Y*: 13.21%
• 5Y*: —
• 10Y*: —

TRIO

• 1D: 0.05%
• 1M: 0.73%
• YTD: 5.81%
• 6M: 5.48%
• 1Y: 14.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HEQT vs. TRIO - Yearly Performance Comparison

	2026 (YTD)	2025
HEQT Simplify Hedged Equity ETF	4.76%	9.85%
TRIO MC Trio Equity Buffered ETF	5.81%	11.70%

Correlation

The correlation between HEQT and TRIO is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Mar 6, 2025	0.86

The correlation between HEQT and TRIO has been stable across timeframes, ranging from 0.86 to 0.87 - a consistent structural relationship.

Return for Risk

HEQT vs. TRIO — Risk / Return Rank

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

HEQT

HEQT Risk / Return Rank: 68
HEQT Sharpe Ratio Rank: 68
HEQT Sortino Ratio Rank: 69
HEQT Omega Ratio Rank: 77
HEQT Calmar Ratio Rank: 57
HEQT Martin Ratio Rank: 70

TRIO

TRIO Risk / Return Rank: 80
TRIO Sharpe Ratio Rank: 79
TRIO Sortino Ratio Rank: 83
TRIO Omega Ratio Rank: 84
TRIO Calmar Ratio Rank: 69
TRIO Martin Ratio Rank: 84

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.

HEQT vs. TRIO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Hedged Equity ETF (HEQT) and MC Trio Equity Buffered ETF (TRIO). 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	TRIO	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.42	-0.29
Sortino ratio: Return per unit of downside risk	3.00	3.54	-0.54
Omega ratio: Gain probability vs. loss probability	1.43	1.48	-0.05
Calmar ratio: Return relative to maximum drawdown	2.76	3.35	-0.59
Martin ratio: Return relative to average drawdown	12.50	16.75	-4.25

HEQT vs. TRIO - Sharpe Ratio Comparison

The current HEQT Sharpe Ratio is 2.13, which is comparable to the TRIO Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of HEQT and TRIO, 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. TRIO - Drawdown Comparison

The maximum HEQT drawdown since its inception was -11.51%, which is greater than TRIO's maximum drawdown of -9.88%. Use the drawdown chart below to compare losses from any high point for HEQT and TRIO.

Drawdown Indicators

	HEQT	TRIO	Difference
Max Drawdown Largest peak-to-trough decline	-11.51%	-9.88%	-1.63%
Max Drawdown (1Y) Largest decline over 1 year	-5.09%	-4.47%	-0.62%
Max Drawdown (3Y) Largest decline over 3 years	-10.57%	—	—
Current Drawdown Current decline from peak	-0.42%	-0.10%	-0.32%
Average Drawdown Average peak-to-trough decline	-2.77%	-0.78%	-1.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.12%	0.89%	+0.23%

Volatility

HEQT vs. TRIO - Volatility Comparison

Simplify Hedged Equity ETF (HEQT) has a higher volatility of 1.92% compared to MC Trio Equity Buffered ETF (TRIO) at 1.62%. This indicates that HEQT's price experiences larger fluctuations and is considered to be riskier than TRIO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEQT	TRIO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.92%	1.62%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	5.47%	4.95%	+0.52%
Volatility (1Y) Calculated over the trailing 1-year period	6.61%	6.20%	+0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.47%	10.58%	-2.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.47%	10.58%	-2.11%

HEQT vs. TRIO - Expense Ratio Comparison

HEQT has a 0.43% expense ratio, which is lower than TRIO's 0.70% expense ratio.

Dividends

HEQT vs. TRIO - Dividend Comparison

HEQT's dividend yield for the trailing twelve months is around 1.20%, less than TRIO's 8.51% yield.

Position	TTM	2025	2024	2023	2022	2021
HEQT Simplify Hedged Equity ETF	1.20%	1.19%	1.29%	4.10%	3.94%	0.27%
TRIO MC Trio Equity Buffered ETF	8.51%	9.01%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HEQT and TRIO in my portfolio?

HEQT and TRIO have a correlation of 0.87, 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 TRIO?

HEQT has higher volatility (1.92%) compared to TRIO (1.62%). In terms of maximum drawdown, HEQT dropped -11.51% vs TRIO's -9.88%.

Which ETF is better, HEQT or TRIO?

On 1-year performance, TRIO leads with 14.92% vs 14.00% for HEQT. On fees, HEQT is cheaper at 0.43% per year. On volatility, TRIO has been the lower-risk option at 1.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HEQT or TRIO?

Over the 1-year period, TRIO has performed better with a 14.92% return vs 14.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HEQT or TRIO?

HEQT is cheaper with a 0.43% expense ratio, compared with 0.70% for TRIO.

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

TRIO has the higher dividend yield at 8.51%, compared with 1.20% for HEQT.

What is the main difference between HEQT and TRIO?

They also come from different issuers: Simplify and ETF Architect. Their fees differ too: 0.43% for HEQT and 0.70% for TRIO.

Which has better risk-adjusted returns?

TRIO currently has the higher Sharpe Ratio (2.42 vs 2.13), 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.