LFMAX vs. PFIX

Last updated Jul 15, 2026

LFMAX (LoCorr Macro Strategies Fund) and PFIX (Simplify Interest Rate Hedge ETF) are both funds - LFMAX is a Systematic Trend fund managed by LoCorr Funds, while PFIX is a Hedge Fund fund actively managed by Simplify. Over the past 5 years, LFMAX returned 4.10%/yr vs 21.11%/yr for PFIX. At a 0.27 correlation, their price movements are largely independent. LFMAX charges 2.13%/yr vs 0.50%/yr for PFIX.

Performance

LFMAX vs. PFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LoCorr Macro Strategies Fund (LFMAX) 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, LFMAX achieves a 8.28% return, which is significantly higher than PFIX's -1.18% return.

LFMAX

• 1D: 0.00%
• 1M: -0.48%
• 6M: 5.91%
• YTD: 8.28%
• 1Y: 11.63%
• 3Y*: 4.64%
• 5Y*: 4.10%
• 10Y*: 3.46%

PFIX

• 1D: -0.23%
• 1M: 2.86%
• 6M: 2.06%
• YTD: -1.18%
• 1Y: -11.25%
• 3Y*: 16.36%
• 5Y*: 21.11%
• 10Y*: —

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

LFMAX vs. PFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
LFMAX LoCorr Macro Strategies Fund	8.28%	2.56%	6.36%	-6.69%	15.03%	-6.42%
PFIX Simplify Interest Rate Hedge ETF	-1.18%	0.42%	35.94%	5.67%	92.05%	-24.98%

Correlation

The correlation between LFMAX and PFIX is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (All Time) Calculated using the full available price history since May 11, 2021	0.27

The correlation between LFMAX and PFIX shifts across timeframes, from -0.03 (1 year) to 0.28 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

LFMAX vs. PFIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LFMAX

LFMAX Risk / Return Rank: 83
LFMAX Sharpe Ratio Rank: 79
LFMAX Sortino Ratio Rank: 81
LFMAX Omega Ratio Rank: 77
LFMAX Calmar Ratio Rank: 95
LFMAX Martin Ratio Rank: 84

PFIX

PFIX Risk / Return Rank: 6
PFIX Sharpe Ratio Rank: 6
PFIX Sortino Ratio Rank: 6
PFIX Omega Ratio Rank: 6
PFIX Calmar Ratio Rank: 6
PFIX Martin Ratio Rank: 6

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LFMAX vs. PFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LoCorr Macro Strategies Fund (LFMAX) 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.

	LFMAX	PFIX	Difference
Sharpe ratio: Return per unit of total volatility	2.04	-0.39	+2.42
Sortino ratio: Return per unit of downside risk	3.01	-0.39	+3.39
Omega ratio: Gain probability vs. loss probability	1.38	0.96	+0.42
Calmar ratio: Return relative to maximum drawdown	4.56	-0.44	+5.00
Martin ratio: Return relative to average drawdown	11.95	-0.65	+12.60

LFMAX vs. PFIX - Sharpe Ratio Comparison

The current LFMAX Sharpe Ratio is 2.04, which is higher than the PFIX Sharpe Ratio of -0.39. The chart below compares the historical Sharpe Ratios of LFMAX and PFIX, 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

LFMAX vs. PFIX - Drawdown Comparison

The maximum LFMAX drawdown since its inception was -23.16%, smaller than the maximum PFIX drawdown of -36.17%. Use the drawdown chart below to compare losses from any high point for LFMAX and PFIX.

Drawdown Indicators

	LFMAX	PFIX	Difference
Max Drawdown Largest peak-to-trough decline	-23.16%	-36.17%	+13.01%
Max Drawdown (1Y) Largest decline over 1 year	-2.53%	-25.64%	+23.11%
Max Drawdown (3Y) Largest decline over 3 years	-8.95%	-36.17%	+27.22%
Max Drawdown (5Y) Largest decline over 5 years	-12.54%	-36.17%	+23.63%
Max Drawdown (10Y) Largest decline over 10 years	-12.54%	—	—
Current Drawdown Current decline from peak	-2.25%	-18.52%	+16.27%
Average Drawdown Average peak-to-trough decline	-7.01%	-17.21%	+10.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	17.33%	-16.37%

Volatility

LFMAX vs. PFIX - Volatility Comparison

The current volatility for LoCorr Macro Strategies Fund (LFMAX) is 1.10%, while Simplify Interest Rate Hedge ETF (PFIX) has a volatility of 9.03%. This indicates that LFMAX 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.

Volatility by Period

	LFMAX	PFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	9.03%	-7.93%
Volatility (6M) Calculated over the trailing 6-month period	4.32%	22.11%	-17.79%
Volatility (1Y) Calculated over the trailing 1-year period	5.67%	29.28%	-23.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.22%	38.54%	-31.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.50%	38.18%	-30.68%

LFMAX vs. PFIX - Expense Ratio Comparison

LFMAX has a 2.13% expense ratio, which is higher than PFIX's 0.50% expense ratio.

Dividends

LFMAX vs. PFIX - Dividend Comparison

LFMAX's dividend yield for the trailing twelve months is around 2.72%, less than PFIX's 9.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LFMAX LoCorr Macro Strategies Fund	2.72%	2.94%	2.88%	2.96%	14.38%	4.79%	5.65%	4.48%	2.83%	5.98%	1.97%	2.87%
PFIX Simplify Interest Rate Hedge ETF	9.81%	9.92%	3.40%	87.92%	0.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LFMAX and PFIX in my portfolio?

LFMAX and PFIX have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LFMAX or PFIX?

PFIX has higher volatility (9.03%) compared to LFMAX (1.10%). In terms of maximum drawdown, LFMAX dropped -23.16% vs PFIX's -36.17%.

Which has better risk-adjusted returns?

LFMAX currently has the higher Sharpe Ratio (2.04 vs -0.39), 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.