LDUR vs. CDX

Last updated Aug 4, 2026

LDUR (PIMCO Enhanced Low Duration Active ETF) and CDX (Simplify High Yield ETF) are both exchange-traded funds - LDUR is a Short-Term Bond fund actively managed by PIMCO, while CDX is a High Yield Bonds fund actively managed by Simplify. Both are actively managed. Over the past 3 years, LDUR returned 5.14%/yr vs 6.99%/yr for CDX. Their 0.29 correlation means their historical movements had little consistent relationship. LDUR charges 0.54%/yr vs 0.25%/yr for CDX.

Performance

LDUR vs. CDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Enhanced Low Duration Active ETF (LDUR) and Simplify High Yield ETF (CDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LDUR achieves a 1.51% return, which is significantly higher than CDX's -3.19% return.

LDUR

• 1D: 0.02%
• 1M: 0.19%
• 6M: 1.23%
• YTD: 1.51%
• 1Y: 3.77%
• 3Y*: 5.14%
• 5Y*: 2.35%
• 10Y*: 2.42%
• ALL TIME*: 2.45%

CDX

• 1D: -0.20%
• 1M: -0.77%
• 6M: -3.15%
• YTD: -3.19%
• 1Y: -3.46%
• 3Y*: 6.99%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.80%

*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)
CDX Simplify High Yield ETF	$2.40M	$2.26M	$3.02M
LDUR PIMCO Enhanced Low Duration Active ETF	$5.03M	$6.97M	$5.28M

LDUR vs. CDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
LDUR PIMCO Enhanced Low Duration Active ETF	1.51%	5.76%	5.14%	4.78%	-2.92%
CDX Simplify High Yield ETF	-3.19%	9.51%	7.71%	12.74%	-8.26%

Correlation

The correlation between LDUR and CDX is 0.34, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.34
Correlation (3Y) Balances recent behavior with more history.	0.25
Correlation (All Time) Calculated using the full available price history since Feb 15, 2022	0.29

Return for Risk

LDUR vs. CDX — Risk / Return Rank

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

LDUR

LDUR Risk / Return Rank: 93
LDUR Sharpe Ratio Rank: 92
LDUR Sortino Ratio Rank: 93
LDUR Omega Ratio Rank: 92
LDUR Calmar Ratio Rank: 91
LDUR Martin Ratio Rank: 94

CDX

CDX Risk / Return Rank: 4
CDX Sharpe Ratio Rank: 4
CDX Sortino Ratio Rank: 4
CDX Omega Ratio Rank: 4
CDX Calmar Ratio Rank: 4
CDX Martin Ratio Rank: 0

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.

LDUR vs. CDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Enhanced Low Duration Active ETF (LDUR) and Simplify High Yield ETF (CDX). 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.

	LDUR	CDX	Difference
Sharpe ratio: Return per unit of total volatility	2.51	-0.58	+3.09
Sortino ratio: Return per unit of downside risk	3.62	-0.80	+4.41
Omega ratio: Gain probability vs. loss probability	1.48	0.91	+0.56
Calmar ratio: Return relative to maximum drawdown	4.06	-0.65	+4.71
Martin ratio: Return relative to average drawdown	19.42	-1.53	+20.95

LDUR vs. CDX - Sharpe Ratio Comparison

The current LDUR Sharpe Ratio is 2.51, which is higher than the CDX Sharpe Ratio of -0.58. The chart below compares the historical Sharpe Ratios of LDUR and CDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

LDUR vs. CDX - Drawdown Comparison

The maximum LDUR drawdown since its inception was -8.68%, smaller than the maximum CDX drawdown of -13.24%. Use the drawdown chart below to compare losses from any high point for LDUR and CDX.

Drawdown Indicators

	LDUR	CDX	Difference
Max Drawdown Largest peak-to-trough decline	-8.68%	-13.24%	+4.56%
Max Drawdown (1Y) Largest decline over 1 year	-0.93%	-5.37%	+4.44%
Max Drawdown (3Y) Largest decline over 3 years	-1.17%	-8.97%	+7.80%
Max Drawdown (5Y) Largest decline over 5 years	-6.75%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-8.68%	—	—
Current Drawdown Current decline from peak	-0.02%	-8.12%	+8.10%
Average Drawdown Average peak-to-trough decline	-0.84%	-4.44%	+3.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.19%	2.26%	-2.07%

Volatility

LDUR vs. CDX - Volatility Comparison

The current volatility for PIMCO Enhanced Low Duration Active ETF (LDUR) is 0.46%, while Simplify High Yield ETF (CDX) has a volatility of 2.02%. This indicates that LDUR experiences smaller price fluctuations and is considered to be less risky than CDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LDUR	CDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.46%	2.02%	-1.56%
Volatility (6M) Calculated over the trailing 6-month period	1.20%	5.14%	-3.94%
Volatility (1Y) Calculated over the trailing 1-year period	1.51%	5.98%	-4.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.05%	10.96%	-8.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.77%	10.96%	-8.19%

LDUR vs. CDX - Expense Ratio Comparison

LDUR has a 0.54% expense ratio, which is higher than CDX's 0.25% expense ratio.

Dividends

LDUR vs. CDX - Dividend Comparison

LDUR's dividend yield for the trailing twelve months is around 4.26%, less than CDX's 8.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CDX Simplify High Yield ETF	8.35%	7.18%	12.60%	5.26%	7.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LDUR PIMCO Enhanced Low Duration Active ETF	4.26%	4.60%	4.77%	4.11%	2.22%	0.90%	2.15%	3.14%	2.66%	2.08%	1.85%	2.92%

Frequently Asked Questions

Can I hold both LDUR and CDX in my portfolio?

LDUR and CDX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LDUR or CDX?

CDX has higher volatility (2.02%) compared to LDUR (0.46%). In terms of maximum drawdown, LDUR dropped -8.68% vs CDX's -13.24%.

Which ETF is better, LDUR or CDX?

On 3-year performance, CDX leads with 6.99% vs 5.14% for LDUR. On fees, CDX is cheaper at 0.25% per year. On volatility, LDUR has been the lower-risk option at 0.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LDUR or CDX?

Over the 3-year period, CDX has performed better with a 6.99% return vs 5.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LDUR or CDX?

CDX is cheaper with a 0.25% expense ratio, compared with 0.54% for LDUR.

Which ETF pays a higher dividend yield, LDUR or CDX?

CDX has the higher dividend yield at 8.35%, compared with 4.26% for LDUR.

What is the main difference between LDUR and CDX?

LDUR is categorized as Short-Term Bond, while CDX is High Yield Bonds. They also come from different issuers: PIMCO and Simplify. Their fees differ too: 0.54% for LDUR and 0.25% for CDX.

Which has better risk-adjusted returns?

LDUR currently has the higher Sharpe Ratio (2.51 vs -0.58), 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.