PFIX vs. CTA
PFIX (Simplify Interest Rate Hedge ETF) and CTA (Simplify Managed Futures Strategy ETF) are both exchange-traded funds - PFIX is a Hedge Fund fund actively managed by Simplify, while CTA is a Systematic Trend fund actively managed by Simplify. Both are actively managed. Over the past 3 years, PFIX returned 16.45%/yr vs 8.19%/yr for CTA. At a 0.26 correlation, their price movements are largely independent. PFIX charges 0.50%/yr vs 0.78%/yr for CTA.
Performance
PFIX vs. CTA - Performance Comparison
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Returns By Period
In the year-to-date period, PFIX achieves a -0.95% return, which is significantly lower than CTA's 0.33% return.
PFIX
- 1D
- 0.47%
- 1M
- 3.10%
- 6M
- 0.73%
- YTD
- -0.95%
- 1Y
- -9.65%
- 3Y*
- 16.45%
- 5Y*
- 20.64%
- 10Y*
- —
CTA
- 1D
- 2.70%
- 1M
- -5.44%
- 6M
- -2.22%
- YTD
- 0.33%
- 1Y
- -0.10%
- 3Y*
- 8.19%
- 5Y*
- —
- 10Y*
- —
PFIX vs. CTA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | -0.95% | 0.42% | 35.94% | 5.67% | 61.28% |
CTA Simplify Managed Futures Strategy ETF | 0.33% | 0.88% | 24.15% | -2.23% | 9.01% |
Correlation
The correlation between PFIX and CTA is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2022 | 0.26 |
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Return for Risk
PFIX vs. CTA — Risk / Return Rank
PFIX
CTA
PFIX vs. CTA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Interest Rate Hedge ETF (PFIX) and Simplify Managed Futures Strategy ETF (CTA). 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 | CTA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.02 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.38 | -0.00 | -0.37 |
| Martin ratioReturn relative to average drawdown | -0.56 | -0.01 | -0.54 |
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Drawdowns
PFIX vs. CTA - Drawdown Comparison
The maximum PFIX drawdown since its inception was -36.17%, which is greater than CTA's maximum drawdown of -20.44%. Use the drawdown chart below to compare losses from any high point for PFIX and CTA.
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Drawdown Indicators
| PFIX | CTA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.17% | -20.44% | -15.73% |
Max Drawdown (1Y)Largest decline over 1 year | -25.64% | -20.44% | -5.20% |
Max Drawdown (3Y)Largest decline over 3 years | -36.17% | -20.44% | -15.73% |
Max Drawdown (5Y)Largest decline over 5 years | -36.17% | — | — |
Current DrawdownCurrent decline from peak | -18.33% | -17.68% | -0.65% |
Average DrawdownAverage peak-to-trough decline | -17.21% | -5.93% | -11.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.30% | 6.76% | +10.54% |
Volatility
PFIX vs. CTA - Volatility Comparison
Simplify Interest Rate Hedge ETF (PFIX) has a higher volatility of 9.44% compared to Simplify Managed Futures Strategy ETF (CTA) at 5.15%. This indicates that PFIX's price experiences larger fluctuations and is considered to be riskier than CTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFIX | CTA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.44% | 5.15% | +4.29% |
Volatility (6M)Calculated over the trailing 6-month period | 22.16% | 17.93% | +4.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.34% | 20.61% | +8.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.55% | 16.63% | +21.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.20% | 16.63% | +21.57% |
PFIX vs. CTA - Expense Ratio Comparison
PFIX has a 0.50% expense ratio, which is lower than CTA's 0.78% expense ratio.
Dividends
PFIX vs. CTA - Dividend Comparison
PFIX's dividend yield for the trailing twelve months is around 9.78%, more than CTA's 5.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CTA Simplify Managed Futures Strategy ETF | 5.00% | 3.19% | 4.80% | 7.78% | 6.58% | 0.00% |
PFIX Simplify Interest Rate Hedge ETF | 9.78% | 9.92% | 3.40% | 87.92% | 0.63% | 0.00% |
Frequently Asked Questions
PFIX and CTA have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFIX has higher volatility (9.44%) compared to CTA (5.15%). In terms of maximum drawdown, PFIX dropped -36.17% vs CTA's -20.44%.
On 3-year performance, PFIX leads with 16.45% vs 8.19% for CTA. On fees, PFIX is cheaper at 0.50% per year. On volatility, CTA has been the lower-risk option at 5.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PFIX has performed better with a 16.45% return vs 8.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFIX is cheaper with a 0.50% expense ratio, compared with 0.78% for CTA.
PFIX has the higher dividend yield at 9.78%, compared with 5.00% for CTA.
PFIX is categorized as Hedge Fund, while CTA is Systematic Trend. Their fees differ too: 0.50% for PFIX and 0.78% for CTA.
CTA currently has the higher Sharpe Ratio (-0.00 vs -0.33), 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.
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