MRGR vs. PFIX
Compare and contrast key facts about Proshares Merger ETF (MRGR) and Simplify Interest Rate Hedge ETF (PFIX).
MRGR and PFIX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MRGR is a passively managed fund by ProShares that tracks the performance of the S&P Merger Arbitrage Index. It was launched on Dec 11, 2012. PFIX is an actively managed fund by Simplify. It was launched on May 10, 2021.
Performance
MRGR vs. PFIX - Performance Comparison
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MRGR vs. PFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MRGR Proshares Merger ETF | 1.47% | 11.99% | 5.32% | 4.94% | -4.81% | 2.05% |
PFIX Simplify Interest Rate Hedge ETF | -2.90% | 0.42% | 35.94% | 5.67% | 92.05% | -24.95% |
Returns By Period
In the year-to-date period, MRGR achieves a 1.47% return, which is significantly higher than PFIX's -2.90% return.
MRGR
- 1D
- 0.69%
- 1M
- 0.94%
- YTD
- 1.47%
- 6M
- 6.99%
- 1Y
- 11.25%
- 3Y*
- 8.39%
- 5Y*
- 4.28%
- 10Y*
- 3.36%
PFIX
- 1D
- -3.95%
- 1M
- 11.53%
- YTD
- -2.90%
- 6M
- 2.03%
- 1Y
- 4.58%
- 3Y*
- 17.99%
- 5Y*
- —
- 10Y*
- —
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MRGR vs. PFIX - Expense Ratio Comparison
MRGR has a 0.75% expense ratio, which is higher than PFIX's 0.50% expense ratio.
Return for Risk
MRGR vs. PFIX — Risk / Return Rank
MRGR
PFIX
MRGR vs. PFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Proshares Merger ETF (MRGR) 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.
| MRGR | PFIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.63 | 0.13 | +2.50 |
Sortino ratioReturn per unit of downside risk | 4.32 | 0.46 | +3.85 |
Omega ratioGain probability vs. loss probability | 1.58 | 1.05 | +0.53 |
Calmar ratioReturn relative to maximum drawdown | 6.36 | 0.10 | +6.26 |
Martin ratioReturn relative to average drawdown | 22.50 | 0.17 | +22.33 |
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
| MRGR | PFIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.63 | 0.13 | +2.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.13 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.40 | -0.04 |
Correlation
The correlation between MRGR and PFIX is 0.00. 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
MRGR vs. PFIX - Dividend Comparison
MRGR's dividend yield for the trailing twelve months is around 2.98%, less than PFIX's 10.17% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MRGR Proshares Merger ETF | 2.98% | 3.12% | 3.21% | 2.11% | 0.61% | 0.59% | 0.00% | 0.78% | 1.39% | 0.36% | 0.74% | 0.34% |
PFIX Simplify Interest Rate Hedge ETF | 10.17% | 9.92% | 3.40% | 87.92% | 0.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
MRGR vs. PFIX - Drawdown Comparison
The maximum MRGR drawdown since its inception was -13.23%, smaller than the maximum PFIX drawdown of -36.17%. Use the drawdown chart below to compare losses from any high point for MRGR and PFIX.
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Drawdown Indicators
| MRGR | PFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.23% | -36.17% | +22.94% |
Max Drawdown (1Y)Largest decline over 1 year | -1.66% | -28.22% | +26.56% |
Max Drawdown (5Y)Largest decline over 5 years | -8.40% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -13.23% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -19.94% | +19.94% |
Average DrawdownAverage peak-to-trough decline | -3.91% | -17.07% | +13.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 17.44% | -16.94% |
Volatility
MRGR vs. PFIX - Volatility Comparison
The current volatility for Proshares Merger ETF (MRGR) is 1.42%, while Simplify Interest Rate Hedge ETF (PFIX) has a volatility of 13.71%. This indicates that MRGR 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
| MRGR | PFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.42% | 13.71% | -12.29% |
Volatility (6M)Calculated over the trailing 6-month period | 3.40% | 20.26% | -16.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.30% | 35.00% | -30.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.84% | 38.75% | -34.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.19% | 38.75% | -33.56% |