PFIX vs. AGGA

Last updated Aug 2, 2026

PFIX (Simplify Interest Rate Hedge ETF) and AGGA (Astoria Dynamic Core US Fixed Income ETF) are both exchange-traded funds - PFIX is a Inverse Bonds fund actively managed by Simplify, while AGGA is a Multisector Bonds fund actively managed by Astoria. Both are actively managed. Over the past year, PFIX returned 7.25% vs 2.58% for AGGA. Their -0.66 correlation means they have often moved in opposite directions in the past. PFIX charges 0.50%/yr vs 0.55%/yr for AGGA.

Performance

PFIX vs. AGGA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Interest Rate Hedge ETF (PFIX) and Astoria Dynamic Core US Fixed Income ETF (AGGA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFIX achieves a 10.66% return, which is significantly higher than AGGA's 0.39% return.

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%

AGGA

• 1D: -0.28%
• 1M: -0.79%
• 6M: 0.07%
• YTD: 0.39%
• 1Y: 2.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.90%

*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)
AGGA Astoria Dynamic Core US Fixed Income ETF	$225.36K	$302.31K	$395.65K
PFIX Simplify Interest Rate Hedge ETF	$6.29M	$5.62M	$16.95M

PFIX vs. AGGA - Yearly Performance Comparison

	2026 (YTD)	2025
PFIX Simplify Interest Rate Hedge ETF	10.66%	-1.98%
AGGA Astoria Dynamic Core US Fixed Income ETF	0.39%	4.49%

Correlation

The correlation between PFIX and AGGA is -0.62, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.62
Correlation (All Time) Calculated using the full available price history since May 1, 2025	-0.66

The correlation between PFIX and AGGA has been stable across timeframes, ranging from -0.66 to -0.62 - a consistent structural relationship.

Return for Risk

PFIX vs. AGGA — Risk / Return Rank

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

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

AGGA

AGGA Risk / Return Rank: 58
AGGA Sharpe Ratio Rank: 57
AGGA Sortino Ratio Rank: 59
AGGA Omega Ratio Rank: 57
AGGA Calmar Ratio Rank: 57
AGGA Martin Ratio Rank: 62

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.

PFIX vs. AGGA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Interest Rate Hedge ETF (PFIX) and Astoria Dynamic Core US Fixed Income ETF (AGGA). 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.

	PFIX	AGGA	Difference
Sharpe ratio: Return per unit of total volatility	0.08	1.38	-1.30
Sortino ratio: Return per unit of downside risk	0.34	2.01	-1.67
Omega ratio: Gain probability vs. loss probability	1.04	1.25	-0.21
Calmar ratio: Return relative to maximum drawdown	0.10	2.03	-1.93
Martin ratio: Return relative to average drawdown	0.15	7.50	-7.34

PFIX vs. AGGA - Sharpe Ratio Comparison

The current PFIX Sharpe Ratio is 0.08, which is lower than the AGGA Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of PFIX and AGGA, 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

PFIX vs. AGGA - Drawdown Comparison

The maximum PFIX drawdown since its inception was -36.17%, which is greater than AGGA's maximum drawdown of -1.47%. Use the drawdown chart below to compare losses from any high point for PFIX and AGGA.

Drawdown Indicators

	PFIX	AGGA	Difference
Max Drawdown Largest peak-to-trough decline	-36.17%	-1.47%	-34.70%
Max Drawdown (1Y) Largest decline over 1 year	-23.71%	-1.47%	-22.24%
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	-8.76%	-0.96%	-7.80%
Average Drawdown Average peak-to-trough decline	-17.19%	-0.23%	-16.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.42%	0.40%	+15.02%

Volatility

PFIX vs. AGGA - Volatility Comparison

Simplify Interest Rate Hedge ETF (PFIX) has a higher volatility of 7.75% compared to Astoria Dynamic Core US Fixed Income ETF (AGGA) at 0.65%. This indicates that PFIX's price experiences larger fluctuations and is considered to be riskier than AGGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFIX	AGGA	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.75%	0.65%	+7.10%
Volatility (6M) Calculated over the trailing 6-month period	21.92%	1.80%	+20.12%
Volatility (1Y) Calculated over the trailing 1-year period	29.31%	2.17%	+27.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.61%	2.24%	+36.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.13%	2.24%	+35.89%

PFIX vs. AGGA - Expense Ratio Comparison

PFIX has a 0.50% expense ratio, which is lower than AGGA's 0.55% expense ratio.

Dividends

PFIX vs. AGGA - Dividend Comparison

PFIX's dividend yield for the trailing twelve months is around 7.82%, more than AGGA's 4.25% yield.

Position	TTM	2025	2024	2023	2022	2021
AGGA Astoria Dynamic Core US Fixed Income ETF	4.25%	2.81%	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 PFIX and AGGA in my portfolio?

PFIX and AGGA have a correlation of -0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFIX or AGGA?

PFIX has higher volatility (7.75%) compared to AGGA (0.65%). In terms of maximum drawdown, PFIX dropped -36.17% vs AGGA's -1.47%.

Which ETF is better, PFIX or AGGA?

On 1-year performance, PFIX leads with 7.25% vs 2.58% for AGGA. On fees, PFIX is cheaper at 0.50% per year. On volatility, AGGA has been the lower-risk option at 0.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PFIX or AGGA?

Over the 1-year period, PFIX has performed better with a 7.25% return vs 2.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PFIX or AGGA?

PFIX is cheaper with a 0.50% expense ratio, compared with 0.55% for AGGA.

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

PFIX has the higher dividend yield at 7.82%, compared with 4.25% for AGGA.

What is the main difference between PFIX and AGGA?

PFIX is categorized as Inverse Bonds, while AGGA is Multisector Bonds. They also come from different issuers: Simplify and Astoria. Their fees differ too: 0.50% for PFIX and 0.55% for AGGA.

Which has better risk-adjusted returns?

AGGA currently has the higher Sharpe Ratio (1.38 vs 0.08), 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.