PFIX vs. SGOV
PFIX (Simplify Interest Rate Hedge ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - PFIX is a Hedge Fund fund actively managed by Simplify, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. PFIX is actively managed, while SGOV is passively managed. Over the past 5 years, PFIX returned 17.78%/yr vs 3.58%/yr for SGOV. At a 0.00 correlation, their price movements are largely independent. PFIX charges 0.50%/yr vs 0.09%/yr for SGOV.
Performance
PFIX vs. SGOV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PFIX achieves a -6.41% return, which is significantly lower than SGOV's 1.70% return.
PFIX
- 1D
- 1.95%
- 1M
- -10.47%
- YTD
- -6.41%
- 6M
- -6.99%
- 1Y
- -13.30%
- 3Y*
- 16.11%
- 5Y*
- 17.78%
- 10Y*
- —
SGOV
- 1D
- 0.01%
- 1M
- 0.27%
- YTD
- 1.70%
- 6M
- 1.80%
- 1Y
- 3.93%
- 3Y*
- 4.68%
- 5Y*
- 3.58%
- 10Y*
- —
PFIX vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | -6.41% | 0.42% | 35.94% | 5.67% | 92.05% | -24.98% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.70% | 4.24% | 5.27% | 5.12% | 1.58% | 0.02% |
Correlation
The correlation between PFIX and SGOV is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 11, 2021 | 0.00 |
The correlation between PFIX and SGOV shifts across timeframes, from -0.01 (5 years) to 0.10 (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. SGOV — Risk / Return Rank
PFIX
SGOV
PFIX vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Interest Rate Hedge ETF (PFIX) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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 | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -20.84 | ||
| Sortino ratioReturn per unit of downside risk | -274.77 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 194.55 | -193.61 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 396.11 | -396.63 |
| Martin ratioReturn relative to average drawdown | -0.80 | 4,438.60 | -4,439.40 |
Loading charts...
Drawdowns
PFIX vs. SGOV - Drawdown Comparison
The maximum PFIX drawdown since its inception was -36.17%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for PFIX and SGOV.
Loading charts...
Drawdown Indicators
| PFIX | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.17% | -0.03% | -36.14% |
Max Drawdown (1Y)Largest decline over 1 year | -25.64% | -0.01% | -25.63% |
Max Drawdown (3Y)Largest decline over 3 years | -36.17% | -0.01% | -36.16% |
Max Drawdown (5Y)Largest decline over 5 years | -36.17% | -0.03% | -36.14% |
Current DrawdownCurrent decline from peak | -22.84% | 0.00% | -22.84% |
Average DrawdownAverage peak-to-trough decline | -17.15% | -0.00% | -17.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.66% | 0.00% | +16.66% |
Volatility
PFIX vs. SGOV - Volatility Comparison
Simplify Interest Rate Hedge ETF (PFIX) has a higher volatility of 6.88% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.06%. This indicates that PFIX's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PFIX | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.88% | 0.06% | +6.82% |
Volatility (6M)Calculated over the trailing 6-month period | 21.31% | 0.13% | +21.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.24% | 0.19% | +29.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.46% | 0.24% | +38.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.24% | 0.24% | +38.00% |
PFIX vs. SGOV - Expense Ratio Comparison
PFIX has a 0.50% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
PFIX vs. SGOV - Dividend Comparison
PFIX's dividend yield for the trailing twelve months is around 10.38%, more than SGOV's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | 10.38% | 9.92% | 3.40% | 87.92% | 0.63% | 0.00% | 0.00% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% |
Frequently Asked Questions
PFIX and SGOV have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFIX has higher volatility (6.88%) compared to SGOV (0.06%). In terms of maximum drawdown, PFIX dropped -36.17% vs SGOV's -0.03%.
On 5-year performance, PFIX leads with 17.78% vs 3.58% for SGOV. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.06%. 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 17.78% return vs 3.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.50% for PFIX.
PFIX has the higher dividend yield at 10.38%, compared with 3.85% for SGOV.
PFIX is categorized as Hedge Fund, while SGOV is Ultrashort Bond. They also come from different issuers: Simplify and iShares. Their fees differ too: 0.50% for PFIX and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.38 vs -0.46), 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 SGOV
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