PFIX vs. PYLD
PFIX (Simplify Interest Rate Hedge ETF) and PYLD (PIMCO Multisector Bond Active Exchange-Traded Fund) are both exchange-traded funds - PFIX is a Inverse Bonds fund actively managed by Simplify, while PYLD is a Multisector Bonds fund actively managed by PIMCO. Both are actively managed. Over the past 3 years, PFIX returned 17.57%/yr vs 7.74%/yr for PYLD. Their -0.72 correlation means they have often moved in opposite directions in the past. PFIX charges 0.50%/yr vs 0.55%/yr for PYLD.
Performance
PFIX vs. PYLD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PFIX achieves a 10.66% return, which is significantly higher than PYLD's 0.83% 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%
PYLD
- 1D
- -0.19%
- 1M
- -0.91%
- 6M
- 0.19%
- YTD
- 0.83%
- 1Y
- 4.78%
- 3Y*
- 7.74%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.29M | $5.62M | $16.95M | |
| $85.99M | $101.13M | $105.82M |
PFIX vs. PYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | 10.66% | 0.42% | 35.94% | 22.73% |
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund | 0.83% | 9.57% | 7.69% | 5.46% |
Correlation
The correlation between PFIX and PYLD is -0.60, 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. | -0.60 |
Correlation (3Y) Balances recent behavior with more history. | -0.73 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023 | -0.72 |
The correlation between PFIX and PYLD shifts across timeframes, from -0.73 (3 years) to -0.60 (1 year), 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. PYLD — Risk / Return Rank
PFIX
PYLD
PFIX vs. PYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Interest Rate Hedge ETF (PFIX) and PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD). 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 | PYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -2.14 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.32 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.10 | 1.65 | -1.55 |
| Martin ratioReturn relative to average drawdown | 0.15 | 7.13 | -6.97 |
Loading charts...
Drawdowns
PFIX vs. PYLD - Drawdown Comparison
The maximum PFIX drawdown since its inception was -36.17%, which is greater than PYLD's maximum drawdown of -4.52%. Use the drawdown chart below to compare losses from any high point for PFIX and PYLD.
Loading charts...
Drawdown Indicators
| PFIX | PYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.17% | -4.52% | -31.65% |
Max Drawdown (1Y)Largest decline over 1 year | -23.71% | -3.25% | -20.46% |
Max Drawdown (3Y)Largest decline over 3 years | -36.17% | -3.88% | -32.29% |
Max Drawdown (5Y)Largest decline over 5 years | -36.17% | — | — |
Current DrawdownCurrent decline from peak | -8.76% | -1.13% | -7.63% |
Average DrawdownAverage peak-to-trough decline | -17.19% | -0.64% | -16.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.42% | 0.75% | +14.67% |
Volatility
PFIX vs. PYLD - Volatility Comparison
Simplify Interest Rate Hedge ETF (PFIX) has a higher volatility of 7.75% compared to PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) at 0.88%. This indicates that PFIX's price experiences larger fluctuations and is considered to be riskier than PYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PFIX | PYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.75% | 0.88% | +6.87% |
Volatility (6M)Calculated over the trailing 6-month period | 21.92% | 2.73% | +19.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.31% | 3.11% | +26.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.61% | 3.96% | +34.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.13% | 3.96% | +34.17% |
PFIX vs. PYLD - Expense Ratio Comparison
PFIX has a 0.50% expense ratio, which is lower than PYLD's 0.55% expense ratio.
Dividends
PFIX vs. PYLD - Dividend Comparison
PFIX's dividend yield for the trailing twelve months is around 7.82%, more than PYLD's 6.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | 7.82% | 9.92% | 3.40% | 87.92% | 0.63% | 0.00% |
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund | 5.88% | 6.21% | 6.40% | 2.72% | 0.00% | 0.00% |
Frequently Asked Questions
PFIX and PYLD have a correlation of -0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFIX has higher volatility (7.75%) compared to PYLD (0.88%). In terms of maximum drawdown, PFIX dropped -36.17% vs PYLD's -4.52%.
On 3-year performance, PFIX leads with 17.57% vs 7.74% for PYLD. On fees, PFIX is cheaper at 0.50% per year. On volatility, PYLD has been the lower-risk option at 0.88%. 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 17.57% return vs 7.74%. 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 0.55% for PYLD.
PFIX has the higher dividend yield at 7.82%, compared with 5.88% for PYLD.
PFIX is categorized as Inverse Bonds, while PYLD is Multisector Bonds. They also come from different issuers: Simplify and PIMCO. Their fees differ too: 0.50% for PFIX and 0.55% for PYLD.
PYLD currently has the higher Sharpe Ratio (1.72 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.
Find the right allocation for PFIX and PYLD
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