PFIX vs. EWO
PFIX (Simplify Interest Rate Hedge ETF) and EWO (iShares MSCI Austria ETF) are both exchange-traded funds - PFIX is a Hedge Fund fund actively managed by Simplify, while EWO is a Europe Equities fund tracking the MSCI Austria Investable Market Index. PFIX is actively managed, while EWO is passively managed. Over the past 5 years, PFIX returned 17.43%/yr vs 15.56%/yr for EWO. At a correlation of -0.08, they often move in opposite directions. PFIX charges 0.50%/yr vs 0.49%/yr for EWO.
Performance
PFIX vs. EWO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PFIX achieves a -3.92% return, which is significantly lower than EWO's 18.55% return.
PFIX
- 1D
- -1.32%
- 1M
- -9.30%
- YTD
- -3.92%
- 6M
- -5.54%
- 1Y
- -12.06%
- 3Y*
- 15.02%
- 5Y*
- 17.43%
- 10Y*
- —
EWO
- 1D
- 1.37%
- 1M
- 7.96%
- YTD
- 18.55%
- 6M
- 23.71%
- 1Y
- 48.35%
- 3Y*
- 33.19%
- 5Y*
- 15.56%
- 10Y*
- 15.10%
PFIX vs. EWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | -3.92% | 0.42% | 35.94% | 5.67% | 92.05% | -24.98% |
EWO iShares MSCI Austria ETF | 18.55% | 74.21% | 4.05% | 20.63% | -21.95% | 7.58% |
Correlation
The correlation between PFIX and EWO is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since May 11, 2021 | -0.08 |
The correlation between PFIX and EWO shifts across timeframes, from -0.20 (1 year) to -0.08 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PFIX vs. EWO — Risk / Return Rank
PFIX
EWO
PFIX vs. EWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Interest Rate Hedge ETF (PFIX) and iShares MSCI Austria ETF (EWO). 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 | EWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.75 | ||
| Sortino ratioReturn per unit of downside risk | -3.64 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.41 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | 3.28 | -3.68 |
| Martin ratioReturn relative to average drawdown | -0.62 | 11.10 | -11.71 |
Loading charts...
Drawdowns
PFIX vs. EWO - Drawdown Comparison
The maximum PFIX drawdown since its inception was -36.17%, smaller than the maximum EWO drawdown of -75.69%. Use the drawdown chart below to compare losses from any high point for PFIX and EWO.
Loading charts...
Drawdown Indicators
| PFIX | EWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.17% | -75.69% | +39.52% |
Max Drawdown (1Y)Largest decline over 1 year | -25.64% | -14.08% | -11.56% |
Max Drawdown (3Y)Largest decline over 3 years | -36.17% | -16.75% | -19.42% |
Max Drawdown (5Y)Largest decline over 5 years | -36.17% | -41.82% | +5.65% |
Max Drawdown (10Y)Largest decline over 10 years | — | -58.10% | — |
Current DrawdownCurrent decline from peak | -20.78% | 0.00% | -20.78% |
Average DrawdownAverage peak-to-trough decline | -17.13% | -28.10% | +10.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.52% | 4.16% | +12.36% |
Volatility
PFIX vs. EWO - Volatility Comparison
Simplify Interest Rate Hedge ETF (PFIX) has a higher volatility of 8.38% compared to iShares MSCI Austria ETF (EWO) at 7.31%. This indicates that PFIX's price experiences larger fluctuations and is considered to be riskier than EWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PFIX | EWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.38% | 7.31% | +1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 21.22% | 15.88% | +5.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.44% | 19.19% | +11.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.52% | 21.95% | +16.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.29% | 22.88% | +15.41% |
PFIX vs. EWO - Expense Ratio Comparison
PFIX has a 0.50% expense ratio, which is higher than EWO's 0.49% expense ratio.
Dividends
PFIX vs. EWO - Dividend Comparison
PFIX's dividend yield for the trailing twelve months is around 10.11%, more than EWO's 2.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EWO iShares MSCI Austria ETF | 2.01% | 2.38% | 7.40% | 5.66% | 4.75% | 2.42% | 0.98% | 3.11% | 4.04% | 2.03% | 1.99% | 1.51% |
PFIX Simplify Interest Rate Hedge ETF | 10.11% | 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
PFIX and EWO have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFIX has higher volatility (8.38%) compared to EWO (7.31%). In terms of maximum drawdown, PFIX dropped -36.17% vs EWO's -75.69%.
On 5-year performance, PFIX leads with 17.43% vs 15.56% for EWO. On fees, EWO is cheaper at 0.49% per year. On volatility, EWO has been the lower-risk option at 7.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PFIX has performed better with a 17.43% return vs 15.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EWO is cheaper with a 0.49% expense ratio, compared with 0.50% for PFIX.
PFIX has the higher dividend yield at 10.11%, compared with 2.01% for EWO.
PFIX is categorized as Hedge Fund, while EWO is Europe Equities. They also come from different issuers: Simplify and iShares. Their fees differ too: 0.50% for PFIX and 0.49% for EWO.
EWO currently has the higher Sharpe Ratio (2.41 vs -0.34), 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.
Find the right allocation for PFIX and EWO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer