HYHG vs. PFIX
Compare and contrast key facts about ProShares High Yield-Interest Rate Hedged (HYHG) and Simplify Interest Rate Hedge ETF (PFIX).
HYHG and PFIX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYHG is a passively managed fund by ProShares that tracks the performance of the Citi High Yield (Treasury Rate-Hedged) Index. It was launched on May 21, 2013. PFIX is an actively managed fund by Simplify Asset Management Inc.. It was launched on May 10, 2021.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYHG or PFIX.
Key characteristics
| HYHG | PFIX | |
|---|---|---|
| YTD Return | 10.24% | 26.47% |
| 1Y Return | 13.96% | -4.64% |
| 3Y Return (Ann) | 7.69% | 32.50% |
| Sharpe Ratio | 2.53 | -0.21 |
| Sortino Ratio | 3.84 | -0.02 |
| Omega Ratio | 1.57 | 1.00 |
| Calmar Ratio | 4.42 | -0.21 |
| Martin Ratio | 22.71 | -0.50 |
| Ulcer Index | 0.62% | 17.10% |
| Daily Std Dev | 5.56% | 41.22% |
| Max Drawdown | -25.72% | -39.52% |
| Current Drawdown | -0.03% | -20.58% |
Correlation
The correlation between HYHG and PFIX is -0.04. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
HYHG vs. PFIX - Performance Comparison
In the year-to-date period, HYHG achieves a 10.24% return, which is significantly lower than PFIX's 26.47% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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HYHG vs. PFIX - Expense Ratio Comparison
Both HYHG and PFIX have an expense ratio of 0.50%.
Risk-Adjusted Performance
HYHG vs. PFIX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares High Yield-Interest Rate Hedged (HYHG) and Simplify Interest Rate Hedge ETF (PFIX). 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.
Dividends
HYHG vs. PFIX - Dividend Comparison
HYHG's dividend yield for the trailing twelve months is around 6.56%, less than PFIX's 67.43% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYHG ProShares High Yield-Interest Rate Hedged | 6.56% | 6.06% | 5.58% | 4.54% | 5.20% | 6.07% | 6.45% | 5.57% | 5.37% | 6.37% | 5.51% | 3.02% |
PFIX Simplify Interest Rate Hedge ETF | 67.43% | 80.99% | 0.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
HYHG vs. PFIX - Drawdown Comparison
The maximum HYHG drawdown since its inception was -25.72%, smaller than the maximum PFIX drawdown of -39.52%. Use the drawdown chart below to compare losses from any high point for HYHG and PFIX. For additional features, visit the drawdowns tool.
Volatility
HYHG vs. PFIX - Volatility Comparison
The current volatility for ProShares High Yield-Interest Rate Hedged (HYHG) is 0.97%, while Simplify Interest Rate Hedge ETF (PFIX) has a volatility of 13.45%. This indicates that HYHG experiences smaller price fluctuations and is considered to be less risky than PFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.