HIGH vs. IVVW
HIGH (Simplify Enhanced Income ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. HIGH is actively managed, while IVVW is passively managed. Over the past year, HIGH returned -2.00% vs 16.51% for IVVW. A 0.54 correlation means they provide meaningful diversification when combined. HIGH charges 0.51%/yr vs 0.25%/yr for IVVW.
Performance
HIGH vs. IVVW - Performance Comparison
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Returns By Period
In the year-to-date period, HIGH achieves a -0.79% return, which is significantly lower than IVVW's 4.04% return.
HIGH
- 1D
- -0.09%
- 1M
- -0.09%
- YTD
- -0.79%
- 6M
- -2.06%
- 1Y
- -2.00%
- 3Y*
- 2.73%
- 5Y*
- —
- 10Y*
- —
IVVW
- 1D
- -0.02%
- 1M
- -0.15%
- YTD
- 4.04%
- 6M
- 3.95%
- 1Y
- 16.51%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HIGH vs. IVVW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HIGH Simplify Enhanced Income ETF | -0.79% | 4.35% | 0.33% |
IVVW iShares S&P 500 BuyWrite ETF | 4.04% | 11.71% | 12.76% |
Correlation
The correlation between HIGH and IVVW is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2024 | 0.54 |
The correlation between HIGH and IVVW has been stable across timeframes, ranging from 0.54 to 0.58 - a consistent structural relationship.
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Return for Risk
HIGH vs. IVVW — Risk / Return Rank
HIGH
IVVW
HIGH vs. IVVW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Enhanced Income ETF (HIGH) and iShares S&P 500 BuyWrite ETF (IVVW). 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.
| HIGH | IVVW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.30 | ||
| Sortino ratioReturn per unit of downside risk | -3.10 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.45 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 2.85 | -3.06 |
| Martin ratioReturn relative to average drawdown | -0.30 | 15.15 | -15.45 |
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Drawdowns
HIGH vs. IVVW - Drawdown Comparison
The maximum HIGH drawdown since its inception was -9.50%, smaller than the maximum IVVW drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for HIGH and IVVW.
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Drawdown Indicators
| HIGH | IVVW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.50% | -16.79% | +7.29% |
Max Drawdown (1Y)Largest decline over 1 year | -9.50% | -5.81% | -3.69% |
Max Drawdown (3Y)Largest decline over 3 years | -9.50% | — | — |
Current DrawdownCurrent decline from peak | -7.50% | -1.35% | -6.15% |
Average DrawdownAverage peak-to-trough decline | -2.45% | -1.73% | -0.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.76% | 1.09% | +5.67% |
Volatility
HIGH vs. IVVW - Volatility Comparison
The current volatility for Simplify Enhanced Income ETF (HIGH) is 1.91%, while iShares S&P 500 BuyWrite ETF (IVVW) has a volatility of 3.42%. This indicates that HIGH experiences smaller price fluctuations and is considered to be less risky than IVVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIGH | IVVW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.91% | 3.42% | -1.51% |
Volatility (6M)Calculated over the trailing 6-month period | 3.79% | 6.89% | -3.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.74% | 8.02% | +0.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.52% | 12.67% | -3.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.52% | 12.67% | -3.15% |
HIGH vs. IVVW - Expense Ratio Comparison
HIGH has a 0.51% expense ratio, which is higher than IVVW's 0.25% expense ratio.
Dividends
HIGH vs. IVVW - Dividend Comparison
HIGH's dividend yield for the trailing twelve months is around 7.12%, less than IVVW's 19.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HIGH Simplify Enhanced Income ETF | 7.12% | 7.71% | 8.34% | 9.40% | 0.62% |
IVVW iShares S&P 500 BuyWrite ETF | 19.86% | 18.55% | 13.72% | 0.00% | 0.00% |
Frequently Asked Questions
HIGH and IVVW have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVVW has higher volatility (3.42%) compared to HIGH (1.91%). In terms of maximum drawdown, HIGH dropped -9.50% vs IVVW's -16.79%.
On 1-year performance, IVVW leads with 16.51% vs -2.00% for HIGH. On fees, IVVW is cheaper at 0.25% per year. On volatility, HIGH has been the lower-risk option at 1.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IVVW has performed better with a 16.51% return vs -2.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVVW is cheaper with a 0.25% expense ratio, compared with 0.51% for HIGH.
IVVW has the higher dividend yield at 19.86%, compared with 7.12% for HIGH.
They also come from different issuers: Simplify and iShares. Their fees differ too: 0.51% for HIGH and 0.25% for IVVW.
IVVW currently has the higher Sharpe Ratio (2.07 vs -0.23), 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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