JFLX vs. PFIX

Last updated Aug 2, 2026

JFLX (JPMorgan Flexible Debt ETF) and PFIX (Simplify Interest Rate Hedge ETF) are both exchange-traded funds - JFLX is a Nontraditional Bonds fund actively managed by JPMorgan, while PFIX is a Inverse Bonds fund actively managed by Simplify. Both are actively managed. Their -0.45 correlation means they have often moved in opposite directions in the past. JFLX charges 0.45%/yr vs 0.50%/yr for PFIX.

Performance

JFLX vs. PFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Flexible Debt ETF (JFLX) and Simplify Interest Rate Hedge ETF (PFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JFLX achieves a 1.80% return, which is significantly lower than PFIX's 10.66% return.

JFLX

• 1D: 0.00%
• 1M: -0.52%
• 6M: 1.11%
• YTD: 1.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

PFIX

• 1D: 3.06%
• 1M: 17.72%
• 6M: 11.49%
• YTD: 10.66%
• 1Y: 7.25%
• 3Y*: 17.57%
• 5Y*: 23.20%
• 10Y*: —
• ALL TIME*: 17.29%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
JFLX JPMorgan Flexible Debt ETF	$4.65M	$4.88M	$5.11M
PFIX Simplify Interest Rate Hedge ETF	$6.29M	$5.62M	$16.95M

JFLX vs. PFIX - Yearly Performance Comparison

	2026 (YTD)	2025
JFLX JPMorgan Flexible Debt ETF	1.80%	1.48%
PFIX Simplify Interest Rate Hedge ETF	10.66%	4.37%

Correlation

The correlation between JFLX and PFIX is -0.45, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 29, 2025	-0.45

Return for Risk

JFLX vs. PFIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JFLX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PFIX

PFIX Risk / Return Rank: 13
PFIX Sharpe Ratio Rank: 13
PFIX Sortino Ratio Rank: 14
PFIX Omega Ratio Rank: 13
PFIX Calmar Ratio Rank: 13
PFIX Martin Ratio Rank: 12

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JFLX vs. PFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Flexible Debt ETF (JFLX) 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.

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.

	JFLX	PFIX	Difference
Sharpe ratio: Return per unit of total volatility	—	0.08	—
Sortino ratio: Return per unit of downside risk	—	0.34	—
Omega ratio: Gain probability vs. loss probability	—	1.04	—
Calmar ratio: Return relative to maximum drawdown	—	0.10	—
Martin ratio: Return relative to average drawdown	—	0.15	—

Drawdowns

JFLX vs. PFIX - Drawdown Comparison

The maximum JFLX drawdown since its inception was -2.36%, smaller than the maximum PFIX drawdown of -36.17%. Use the drawdown chart below to compare losses from any high point for JFLX and PFIX.

Drawdown Indicators

	JFLX	PFIX	Difference
Max Drawdown Largest peak-to-trough decline	-2.36%	-36.17%	+33.81%
Max Drawdown (1Y) Largest decline over 1 year	—	-23.71%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-36.17%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-36.17%	—
Current Drawdown Current decline from peak	-0.60%	-8.76%	+8.16%
Average Drawdown Average peak-to-trough decline	-0.38%	-17.19%	+16.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	15.42%	—

Volatility

Volatility by Period

	JFLX	PFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.75%	—
Volatility (6M) Calculated over the trailing 6-month period	—	21.92%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.58%	29.31%	-26.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.58%	38.61%	-36.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.58%	38.13%	-35.55%

JFLX vs. PFIX - Expense Ratio Comparison

JFLX has a 0.45% expense ratio, which is lower than PFIX's 0.50% expense ratio.

Dividends

JFLX vs. PFIX - Dividend Comparison

JFLX's dividend yield for the trailing twelve months is around 3.63%, less than PFIX's 7.82% yield.

Position	TTM	2025	2024	2023	2022	2021
JFLX JPMorgan Flexible Debt ETF	3.63%	1.27%	0.00%	0.00%	0.00%	0.00%
PFIX Simplify Interest Rate Hedge ETF	7.82%	9.92%	3.40%	87.92%	0.63%	0.00%

Frequently Asked Questions

Can I hold both JFLX and PFIX in my portfolio?

JFLX and PFIX have a correlation of -0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JFLX or PFIX?

On fees, JFLX is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JFLX or PFIX?

JFLX is cheaper with a 0.45% expense ratio, compared with 0.50% for PFIX.

Which ETF pays a higher dividend yield, JFLX or PFIX?

PFIX has the higher dividend yield at 7.82%, compared with 3.63% for JFLX.

What is the main difference between JFLX and PFIX?

JFLX is categorized as Nontraditional Bonds, while PFIX is Inverse Bonds. They also come from different issuers: JPMorgan and Simplify. Their fees differ too: 0.45% for JFLX and 0.50% for PFIX.