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. It was launched on May 10, 2021.
Performance
HYHG vs. PFIX - Performance Comparison
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HYHG vs. PFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HYHG ProShares High Yield-Interest Rate Hedged | 0.76% | 5.31% | 11.41% | 14.69% | -1.71% | 2.80% |
PFIX Simplify Interest Rate Hedge ETF | -4.44% | 0.42% | 35.94% | 5.67% | 92.05% | -24.95% |
Returns By Period
In the year-to-date period, HYHG achieves a 0.76% return, which is significantly higher than PFIX's -4.44% return.
HYHG
- 1D
- 0.75%
- 1M
- 0.37%
- YTD
- 0.76%
- 6M
- 2.21%
- 1Y
- 7.49%
- 3Y*
- 9.53%
- 5Y*
- 6.54%
- 10Y*
- 6.25%
PFIX
- 1D
- -1.58%
- 1M
- 8.02%
- YTD
- -4.44%
- 6M
- 1.15%
- 1Y
- 4.76%
- 3Y*
- 17.37%
- 5Y*
- —
- 10Y*
- —
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HYHG vs. PFIX - Expense Ratio Comparison
Both HYHG and PFIX have an expense ratio of 0.50%.
Return for Risk
HYHG vs. PFIX — Risk / Return Rank
HYHG
PFIX
HYHG vs. PFIX - Risk-Adjusted Trends 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.
| HYHG | PFIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.93 | 0.14 | +0.79 |
Sortino ratioReturn per unit of downside risk | 1.40 | 0.47 | +0.93 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.05 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 1.74 | 0.10 | +1.63 |
Martin ratioReturn relative to average drawdown | 8.32 | 0.17 | +8.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HYHG | PFIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 0.14 | +0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.39 | +0.06 |
Correlation
The correlation between HYHG and PFIX is -0.02. 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.
Dividends
HYHG vs. PFIX - Dividend Comparison
HYHG's dividend yield for the trailing twelve months is around 6.92%, less than PFIX's 10.34% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYHG ProShares High Yield-Interest Rate Hedged | 6.92% | 6.97% | 6.57% | 6.07% | 5.58% | 4.54% | 5.21% | 6.06% | 6.45% | 5.57% | 5.37% | 6.37% |
PFIX Simplify Interest Rate Hedge ETF | 10.34% | 9.92% | 3.40% | 87.92% | 0.63% | 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 -25.71%, smaller than the maximum PFIX drawdown of -36.17%. Use the drawdown chart below to compare losses from any high point for HYHG and PFIX.
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Drawdown Indicators
| HYHG | PFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.71% | -36.17% | +10.46% |
Max Drawdown (1Y)Largest decline over 1 year | -4.25% | -28.22% | +23.97% |
Max Drawdown (5Y)Largest decline over 5 years | -9.21% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -25.71% | — | — |
Current DrawdownCurrent decline from peak | -0.57% | -21.21% | +20.64% |
Average DrawdownAverage peak-to-trough decline | -3.08% | -17.08% | +14.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 17.49% | -16.60% |
Volatility
HYHG vs. PFIX - Volatility Comparison
The current volatility for ProShares High Yield-Interest Rate Hedged (HYHG) is 2.37%, while Simplify Interest Rate Hedge ETF (PFIX) has a volatility of 13.74%. 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.
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Volatility by Period
| HYHG | PFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.37% | 13.74% | -11.37% |
Volatility (6M)Calculated over the trailing 6-month period | 4.49% | 20.30% | -15.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.09% | 35.00% | -26.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.12% | 38.74% | -30.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.20% | 38.74% | -29.54% |