HYBI vs. HIGH

Last updated Jun 3, 2026

HYBI (NEOS Enhanced Income Credit Select ETF) and HIGH (Simplify Enhanced Income ETF) are both exchange-traded funds - HYBI is a Nontraditional Bonds fund actively managed by Neos, while HIGH is a Derivative Income fund actively managed by Simplify. Both are actively managed. Over the past year, HYBI returned 7.95% vs -2.66% for HIGH. A 0.51 correlation means they provide meaningful diversification when combined. HYBI charges 0.68%/yr vs 0.51%/yr for HIGH.

Performance

HYBI vs. HIGH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Enhanced Income Credit Select ETF (HYBI) and Simplify Enhanced Income ETF (HIGH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYBI achieves a 1.81% return, which is significantly higher than HIGH's -0.05% return.

HYBI

• 1D: 0.16%
• 1M: 0.27%
• YTD: 1.81%
• 6M: 2.45%
• 1Y: 7.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HIGH

• 1D: 0.18%
• 1M: 1.82%
• YTD: -0.05%
• 6M: -1.07%
• 1Y: -2.66%
• 3Y*: 3.13%
• 5Y*: —
• 10Y*: —

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

HYBI vs. HIGH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HYBI NEOS Enhanced Income Credit Select ETF	1.81%	6.97%	-0.48%
HIGH Simplify Enhanced Income ETF	-0.05%	4.35%	-0.16%

Correlation

The correlation between HYBI and HIGH is 0.54, 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	0.54
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024	0.51

The correlation between HYBI and HIGH has been stable across timeframes, ranging from 0.51 to 0.54 - a consistent structural relationship.

HYBI vs. HIGH - Sectors Allocation Comparison

Sectors	HYBI	HIGH
Technology	35.6%	-
Financial Services	11.8%	71.3%
Communication Services	11.2%	-
Consumer Cyclical	10.1%	-
Healthcare	8.5%	-
Industrials	8.3%	-
Consumer Defensive	4.9%	-
Energy	3.6%	-
Utilities	2.3%	-
Real Estate	1.9%	-
Basic Materials	1.8%	-

Return for Risk

HYBI vs. HIGH — Risk / Return Rank

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

HYBI

HYBI Risk / Return Rank: 83
HYBI Sharpe Ratio Rank: 75
HYBI Sortino Ratio Rank: 84
HYBI Omega Ratio Rank: 80
HYBI Calmar Ratio Rank: 89
HYBI Martin Ratio Rank: 85

HIGH

HIGH Risk / Return Rank: 6
HIGH Sharpe Ratio Rank: 6
HIGH Sortino Ratio Rank: 5
HIGH Omega Ratio Rank: 5
HIGH Calmar Ratio Rank: 6
HIGH Martin Ratio Rank: 7

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.

HYBI vs. HIGH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Enhanced Income Credit Select ETF (HYBI) and Simplify Enhanced Income ETF (HIGH). 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.

	HYBI	HIGH	Difference
Sharpe ratio Return per unit of total volatility	2.48	-0.30	+2.78
Sortino ratio Return per unit of downside risk	3.82	-0.37	+4.19
Omega ratio Gain probability vs. loss probability	1.49	0.95	+0.54
Calmar ratio Return relative to maximum drawdown	5.52	-0.26	+5.78
Martin ratio Return relative to average drawdown	18.13	-0.38	+18.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYBI vs. HIGH - Sharpe Ratio Comparison

The current HYBI Sharpe Ratio is 2.48, which is higher than the HIGH Sharpe Ratio of -0.30. The chart below compares the historical Sharpe Ratios of HYBI and HIGH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HYBI	HIGH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.48	-0.30	+2.78
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.40	+0.61

Drawdowns

HYBI vs. HIGH - Drawdown Comparison

The maximum HYBI drawdown since its inception was -4.68%, smaller than the maximum HIGH drawdown of -9.50%. Use the drawdown chart below to compare losses from any high point for HYBI and HIGH.

Drawdown Indicators

	HYBI	HIGH	Difference
Max Drawdown Largest peak-to-trough decline	-4.68%	-9.50%	+4.82%
Max Drawdown (1Y) Largest decline over 1 year	-1.43%	-9.50%	+8.07%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.50%	—
Current Drawdown Current decline from peak	0.00%	-6.81%	+6.81%
Average Drawdown Average peak-to-trough decline	-0.62%	-2.37%	+1.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	6.51%	-6.07%

Volatility

HYBI vs. HIGH - Volatility Comparison

The current volatility for NEOS Enhanced Income Credit Select ETF (HYBI) is 0.98%, while Simplify Enhanced Income ETF (HIGH) has a volatility of 1.18%. This indicates that HYBI experiences smaller price fluctuations and is considered to be less risky than HIGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYBI	HIGH	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.98%	1.18%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	2.13%	3.63%	-1.50%
Volatility (1Y) Calculated over the trailing 1-year period	3.22%	8.83%	-5.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.94%	9.56%	-4.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.94%	9.56%	-4.62%

HYBI vs. HIGH - Expense Ratio Comparison

HYBI has a 0.68% expense ratio, which is higher than HIGH's 0.51% expense ratio.

Dividends

HYBI vs. HIGH - Dividend Comparison

HYBI's dividend yield for the trailing twelve months is around 8.35%, more than HIGH's 7.31% yield.

Position	TTM	2025	2024	2023	2022
HIGH Simplify Enhanced Income ETF	7.31%	7.71%	8.34%	9.40%	0.62%
HYBI NEOS Enhanced Income Credit Select ETF	8.35%	8.48%	2.21%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYBI and HIGH in my portfolio?

HYBI and HIGH have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYBI or HIGH?

HIGH has higher volatility (1.18%) compared to HYBI (0.98%). In terms of maximum drawdown, HYBI dropped -4.68% vs HIGH's -9.50%.

Which ETF is better, HYBI or HIGH?

On 1-year performance, HYBI leads with 7.95% vs -2.66% for HIGH. On fees, HIGH is cheaper at 0.51% per year. On volatility, HYBI has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYBI or HIGH?

Over the 1-year period, HYBI has performed better with a 7.95% return vs -2.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYBI or HIGH?

HIGH is cheaper with a 0.51% expense ratio, compared with 0.68% for HYBI.

Which ETF pays a higher dividend yield, HYBI or HIGH?

HYBI has the higher dividend yield at 8.35%, compared with 7.31% for HIGH.

What is the main difference between HYBI and HIGH?

HYBI is categorized as Nontraditional Bonds, while HIGH is Derivative Income. They also come from different issuers: Neos and Simplify. Their fees differ too: 0.68% for HYBI and 0.51% for HIGH.

Which has better risk-adjusted returns?

HYBI currently has the higher Sharpe Ratio (2.48 vs -0.30), 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.