IVOL vs. SVOL
IVOL (Quadratic Interest Rate Volatility & Inflation Hedge ETF) and SVOL (Simplify Volatility Premium ETF) are both exchange-traded funds - IVOL is a Inflation-Protected Bonds fund actively managed by CICC, while SVOL is a Volatility fund actively managed by Simplify. Both are actively managed. Over the past 5 years, IVOL returned -5.87%/yr vs 6.94%/yr for SVOL. Their -0.05 correlation means they have often moved in opposite directions in the past. IVOL charges 0.99%/yr vs 0.50%/yr for SVOL.
Performance
IVOL vs. SVOL - Performance Comparison
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Returns By Period
In the year-to-date period, IVOL achieves a -7.33% return, which is significantly lower than SVOL's 1.82% return.
IVOL
- 1D
- 0.17%
- 1M
- 0.36%
- 6M
- -6.64%
- YTD
- -7.33%
- 1Y
- -7.62%
- 3Y*
- -1.90%
- 5Y*
- -5.87%
- 10Y*
- —
- ALL TIME*
- -1.42%
SVOL
- 1D
- 1.15%
- 1M
- 0.58%
- 6M
- 0.98%
- YTD
- 1.82%
- 1Y
- 18.14%
- 3Y*
- 5.94%
- 5Y*
- 6.94%
- 10Y*
- —
- ALL TIME*
- 7.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.46M | $1.22M | $2.07M | |
| $4.50M | $3.83M | $4.52M |
IVOL vs. SVOL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | -7.33% | 11.97% | -11.07% | -5.18% | -12.69% | -4.53% |
SVOL Simplify Volatility Premium ETF | 1.82% | 2.41% | 6.77% | 22.88% | -3.30% | 12.70% |
Correlation
The correlation between IVOL and SVOL is -0.09, 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. | -0.09 |
Correlation (3Y) Balances recent behavior with more history. | -0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.06 |
Correlation (All Time) Calculated using the full available price history since May 13, 2021 | -0.05 |
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Return for Risk
IVOL vs. SVOL — Risk / Return Rank
IVOL
SVOL
IVOL vs. SVOL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) and Simplify Volatility Premium ETF (SVOL). 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.
| IVOL | SVOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.83 | ||
| Sortino ratioReturn per unit of downside risk | -2.64 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.18 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 1.37 | -1.88 |
| Martin ratioReturn relative to average drawdown | -0.99 | 4.00 | -4.98 |
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Drawdowns
IVOL vs. SVOL - Drawdown Comparison
The maximum IVOL drawdown since its inception was -31.16%, smaller than the maximum SVOL drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for IVOL and SVOL.
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Drawdown Indicators
| IVOL | SVOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.16% | -33.50% | +2.34% |
Max Drawdown (1Y)Largest decline over 1 year | -12.17% | -11.42% | -0.75% |
Max Drawdown (3Y)Largest decline over 3 years | -14.48% | -33.50% | +19.02% |
Max Drawdown (5Y)Largest decline over 5 years | -30.28% | -33.50% | +3.22% |
Current DrawdownCurrent decline from peak | -27.12% | -1.33% | -25.79% |
Average DrawdownAverage peak-to-trough decline | -13.60% | -4.68% | -8.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.22% | 3.92% | +2.30% |
Volatility
IVOL vs. SVOL - Volatility Comparison
The current volatility for Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) is 1.74%, while Simplify Volatility Premium ETF (SVOL) has a volatility of 4.16%. This indicates that IVOL experiences smaller price fluctuations and is considered to be less risky than SVOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVOL | SVOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.74% | 4.16% | -2.42% |
Volatility (6M)Calculated over the trailing 6-month period | 4.95% | 9.66% | -4.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.74% | 17.23% | -10.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.85% | 21.96% | -9.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.91% | 21.74% | -9.83% |
IVOL vs. SVOL - Expense Ratio Comparison
IVOL has a 0.99% expense ratio, which is higher than SVOL's 0.50% expense ratio.
Dividends
IVOL vs. SVOL - Dividend Comparison
IVOL's dividend yield for the trailing twelve months is around 3.88%, less than SVOL's 22.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | 3.88% | 3.61% | 3.83% | 3.73% | 3.92% | 3.93% | 3.44% | 2.02% |
SVOL Simplify Volatility Premium ETF | 22.14% | 19.82% | 16.79% | 16.36% | 18.32% | 4.65% | 0.00% | 0.00% |
Frequently Asked Questions
IVOL and SVOL have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SVOL has higher volatility (4.16%) compared to IVOL (1.74%). In terms of maximum drawdown, IVOL dropped -31.16% vs SVOL's -33.50%.
On 5-year performance, SVOL leads with 6.94% vs -5.87% for IVOL. On fees, SVOL is cheaper at 0.50% per year. On volatility, IVOL has been the lower-risk option at 1.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SVOL has performed better with a 6.94% return vs -5.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SVOL is cheaper with a 0.50% expense ratio, compared with 0.99% for IVOL.
SVOL has the higher dividend yield at 22.14%, compared with 3.88% for IVOL.
IVOL is categorized as Inflation-Protected Bonds, while SVOL is Volatility. They also come from different issuers: CICC and Simplify. Their fees differ too: 0.99% for IVOL and 0.50% for SVOL.
SVOL currently has the higher Sharpe Ratio (0.91 vs -0.92), 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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