HF vs. QIS

Last updated Aug 6, 2026

HF (DGA Core Plus Absolute Return ETF) and QIS (Simplify Multi-Qis Alternative ETF) are both Multistrategy funds. Both are actively managed. Over the past 3 years, HF returned 9.37%/yr vs -26.82%/yr for QIS. Their -0.06 correlation means they have often moved in opposite directions in the past. HF charges 1.70%/yr vs 1.00%/yr for QIS.

Performance

HF vs. QIS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DGA Core Plus Absolute Return ETF (HF) and Simplify Multi-Qis Alternative ETF (QIS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HF achieves a 7.65% return, which is significantly higher than QIS's -37.78% return.

HF

• 1D: -0.10%
• 1M: 1.48%
• 6M: 6.10%
• YTD: 7.65%
• 1Y: 10.94%
• 3Y*: 9.37%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.13%

QIS

• 1D: -0.57%
• 1M: -8.34%
• 6M: -31.53%
• YTD: -37.78%
• 1Y: -52.98%
• 3Y*: -26.82%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -26.15%

*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)
HF DGA Core Plus Absolute Return ETF	$12.05K	$11.61K	$16.89K
QIS Simplify Multi-Qis Alternative ETF	$4.19K	$6.88K	$24.21K

HF vs. QIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HF DGA Core Plus Absolute Return ETF	7.65%	4.38%	9.55%	5.64%
QIS Simplify Multi-Qis Alternative ETF	-37.78%	-38.02%	0.19%	1.59%

Correlation

The correlation between HF and QIS is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.06
Correlation (3Y) Balances recent behavior with more history.	-0.06
Correlation (All Time) Calculated using the full available price history since Aug 3, 2023	-0.06

The correlation between HF and QIS shifts across timeframes, from -0.06 (all time) to 0.06 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HF vs. QIS — Risk / Return Rank

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

HF

HF Risk / Return Rank: 78
HF Sharpe Ratio Rank: 72
HF Sortino Ratio Rank: 73
HF Omega Ratio Rank: 78
HF Calmar Ratio Rank: 83
HF Martin Ratio Rank: 81

QIS

QIS Risk / Return Rank: 0
QIS Sharpe Ratio Rank: 0
QIS Sortino Ratio Rank: 0
QIS Omega Ratio Rank: 0
QIS Calmar Ratio Rank: 1
QIS Martin Ratio Rank: 0

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.

HF vs. QIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DGA Core Plus Absolute Return ETF (HF) and Simplify Multi-Qis Alternative ETF (QIS). 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.

	HF	QIS	Difference
Sharpe ratio: Return per unit of total volatility	1.89	-1.33	+3.22
Sortino ratio: Return per unit of downside risk	2.68	-2.15	+4.83
Omega ratio: Gain probability vs. loss probability	1.37	0.75	+0.61
Calmar ratio: Return relative to maximum drawdown	3.49	-0.96	+4.45
Martin ratio: Return relative to average drawdown	12.02	-1.67	+13.69

HF vs. QIS - Sharpe Ratio Comparison

The current HF Sharpe Ratio is 1.89, which is higher than the QIS Sharpe Ratio of -1.33. The chart below compares the historical Sharpe Ratios of HF and QIS, 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

HF vs. QIS - Drawdown Comparison

The maximum HF drawdown since its inception was -5.94%, smaller than the maximum QIS drawdown of -63.52%. Use the drawdown chart below to compare losses from any high point for HF and QIS.

Drawdown Indicators

	HF	QIS	Difference
Max Drawdown Largest peak-to-trough decline	-5.94%	-63.52%	+57.58%
Max Drawdown (1Y) Largest decline over 1 year	-3.14%	-55.33%	+52.19%
Max Drawdown (3Y) Largest decline over 3 years	-5.94%	-63.52%	+57.58%
Current Drawdown Current decline from peak	-0.10%	-63.52%	+63.42%
Average Drawdown Average peak-to-trough decline	-1.59%	-16.24%	+14.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	31.70%	-30.79%

Volatility

HF vs. QIS - Volatility Comparison

The current volatility for DGA Core Plus Absolute Return ETF (HF) is 2.21%, while Simplify Multi-Qis Alternative ETF (QIS) has a volatility of 15.46%. This indicates that HF experiences smaller price fluctuations and is considered to be less risky than QIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HF	QIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.21%	15.46%	-13.25%
Volatility (6M) Calculated over the trailing 6-month period	5.00%	32.98%	-27.98%
Volatility (1Y) Calculated over the trailing 1-year period	5.83%	40.09%	-34.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.41%	30.27%	-23.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.41%	30.27%	-23.86%

HF vs. QIS - Expense Ratio Comparison

HF has a 1.70% expense ratio, which is higher than QIS's 1.00% expense ratio.

Dividends

HF vs. QIS - Dividend Comparison

HF's dividend yield for the trailing twelve months is around 0.87%, less than QIS's 2.19% yield.

Position	TTM	2025	2024	2023
HF DGA Core Plus Absolute Return ETF	0.87%	0.94%	11.18%	2.49%
QIS Simplify Multi-Qis Alternative ETF	2.19%	3.37%	1.07%	3.29%

Frequently Asked Questions

Can I hold both HF and QIS in my portfolio?

HF and QIS have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HF or QIS?

QIS has higher volatility (15.46%) compared to HF (2.21%). In terms of maximum drawdown, HF dropped -5.94% vs QIS's -63.52%.

Which ETF is better, HF or QIS?

On 3-year performance, HF leads with 9.37% vs -26.82% for QIS. On fees, QIS is cheaper at 1.00% per year. On volatility, HF has been the lower-risk option at 2.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HF or QIS?

Over the 3-year period, HF has performed better with a 9.37% return vs -26.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HF or QIS?

QIS is cheaper with a 1.00% expense ratio, compared with 1.70% for HF.

Which ETF pays a higher dividend yield, HF or QIS?

QIS has the higher dividend yield at 2.19%, compared with 0.87% for HF.

What is the main difference between HF and QIS?

They also come from different issuers: DGA and Simplify. Their fees differ too: 1.70% for HF and 1.00% for QIS.

Which has better risk-adjusted returns?

HF currently has the higher Sharpe Ratio (1.89 vs -1.33), 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.