PFIX vs. PST

Last updated Jun 4, 2026

PFIX (Simplify Interest Rate Hedge ETF) and PST (ProShares UltraShort 7-10 Year Treasury) are both exchange-traded funds - PFIX is a Hedge Fund fund actively managed by Simplify, while PST is a Inverse Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index. PFIX is actively managed, while PST is passively managed. Over the past 5 years, PFIX returned 16.86%/yr vs 9.21%/yr for PST. A 0.76 correlation means they provide meaningful diversification when combined. PFIX charges 0.50%/yr vs 0.95%/yr for PST.

Performance

PFIX vs. PST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Interest Rate Hedge ETF (PFIX) and ProShares UltraShort 7-10 Year Treasury (PST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFIX achieves a -2.55% return, which is significantly lower than PST's 4.57% return.

PFIX

• 1D: 0.36%
• 1M: -3.76%
• YTD: -2.55%
• 6M: 1.53%
• 1Y: -15.57%
• 3Y*: 14.54%
• 5Y*: 16.86%
• 10Y*: —

PST

• 1D: 0.51%
• 1M: 0.80%
• YTD: 4.57%
• 6M: 6.73%
• 1Y: 1.08%
• 3Y*: 5.59%
• 5Y*: 9.21%
• 10Y*: 2.47%

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

PFIX vs. PST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PFIX Simplify Interest Rate Hedge ETF	-2.55%	0.42%	35.94%	5.67%	92.05%	-24.95%
PST ProShares UltraShort 7-10 Year Treasury	4.57%	-4.42%	12.27%	3.17%	38.55%	-4.52%

Correlation

The correlation between PFIX and PST is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since May 12, 2021	0.76

The correlation between PFIX and PST shifts across timeframes, from 0.68 (1 year) to 0.79 (3 years), reflecting how their relationship changes across market environments.

PFIX vs. PST - Sectors Allocation Comparison

Sectors	PFIX	PST
Financial Services	32.2%	69.6%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

PFIX vs. PST — Risk / Return Rank

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

PFIX

PFIX Risk / Return Rank: 4
PFIX Sharpe Ratio Rank: 4
PFIX Sortino Ratio Rank: 4
PFIX Omega Ratio Rank: 4
PFIX Calmar Ratio Rank: 4
PFIX Martin Ratio Rank: 4

PST

PST Risk / Return Rank: 10
PST Sharpe Ratio Rank: 10
PST Sortino Ratio Rank: 9
PST Omega Ratio Rank: 9
PST Calmar Ratio Rank: 10
PST Martin Ratio Rank: 10

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.

PFIX vs. PST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Interest Rate Hedge ETF (PFIX) and ProShares UltraShort 7-10 Year Treasury (PST). 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.

	PFIX	PST	Difference
Sharpe ratio: Return per unit of total volatility	-0.52	0.11	-0.63
Sortino ratio: Return per unit of downside risk	-0.58	0.23	-0.81
Omega ratio: Gain probability vs. loss probability	0.93	1.03	-0.09
Calmar ratio: Return relative to maximum drawdown	-0.61	0.15	-0.76
Martin ratio: Return relative to average drawdown	-0.96	0.26	-1.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PFIX vs. PST - Sharpe Ratio Comparison

The current PFIX Sharpe Ratio is -0.52, which is lower than the PST Sharpe Ratio of 0.11. The chart below compares the historical Sharpe Ratios of PFIX and PST, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PFIX	PST	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.52	0.11	-0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.59	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.19	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	-0.37	+0.77

Drawdowns

PFIX vs. PST - Drawdown Comparison

The maximum PFIX drawdown since its inception was -36.17%, smaller than the maximum PST drawdown of -79.25%. Use the drawdown chart below to compare losses from any high point for PFIX and PST.

Drawdown Indicators

	PFIX	PST	Difference
Max Drawdown Largest peak-to-trough decline	-36.17%	-79.25%	+43.08%
Max Drawdown (1Y) Largest decline over 1 year	-25.64%	-7.25%	-18.39%
Max Drawdown (3Y) Largest decline over 3 years	-36.17%	-16.19%	-19.98%
Max Drawdown (5Y) Largest decline over 5 years	-36.17%	-16.19%	-19.98%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.07%	—
Current Drawdown Current decline from peak	-19.65%	-64.13%	+44.48%
Average Drawdown Average peak-to-trough decline	-17.13%	-61.48%	+44.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.35%	4.16%	+12.19%

Volatility

PFIX vs. PST - Volatility Comparison

Simplify Interest Rate Hedge ETF (PFIX) has a higher volatility of 7.51% compared to ProShares UltraShort 7-10 Year Treasury (PST) at 3.19%. This indicates that PFIX's price experiences larger fluctuations and is considered to be riskier than PST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFIX	PST	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.51%	3.19%	+4.32%
Volatility (6M) Calculated over the trailing 6-month period	20.89%	6.75%	+14.14%
Volatility (1Y) Calculated over the trailing 1-year period	30.32%	9.62%	+20.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.50%	15.60%	+22.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.35%	13.32%	+25.03%

PFIX vs. PST - Expense Ratio Comparison

PFIX has a 0.50% expense ratio, which is lower than PST's 0.95% expense ratio.

Dividends

PFIX vs. PST - Dividend Comparison

PFIX's dividend yield for the trailing twelve months is around 9.96%, more than PST's 3.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
PFIX Simplify Interest Rate Hedge ETF	9.96%	9.92%	3.40%	87.92%	0.63%	0.00%	0.00%	0.00%	0.00%
PST ProShares UltraShort 7-10 Year Treasury	3.08%	3.47%	3.61%	3.69%	0.02%	0.00%	0.11%	1.85%	0.66%

Frequently Asked Questions

Can I hold both PFIX and PST in my portfolio?

PFIX and PST have a correlation of 0.68, 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 PST?

PFIX has higher volatility (7.51%) compared to PST (3.19%). In terms of maximum drawdown, PFIX dropped -36.17% vs PST's -79.25%.

Which ETF is better, PFIX or PST?

On 5-year performance, PFIX leads with 16.86% vs 9.21% for PST. On fees, PFIX is cheaper at 0.50% per year. On volatility, PST has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PFIX or PST?

Over the 5-year period, PFIX has performed better with a 16.86% return vs 9.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PFIX or PST?

PFIX is cheaper with a 0.50% expense ratio, compared with 0.95% for PST.

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

PFIX has the higher dividend yield at 9.96%, compared with 3.08% for PST.

What is the main difference between PFIX and PST?

PFIX is categorized as Hedge Fund, while PST is Inverse Bonds. They also come from different issuers: Simplify and ProShares. Their fees differ too: 0.50% for PFIX and 0.95% for PST.

Which has better risk-adjusted returns?

PST currently has the higher Sharpe Ratio (0.11 vs -0.52), 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.