PFIX vs. TBT
Compare and contrast key facts about Simplify Interest Rate Hedge ETF (PFIX) and ProShares UltraShort 20+ Year Treasury (TBT).
PFIX and TBT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PFIX is an actively managed fund by Simplify Asset Management Inc.. It was launched on May 10, 2021. TBT is a passively managed fund by ProShares that tracks the performance of the U.S. Treasury 20+ Year Index (-200%). It was launched on May 1, 2008.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PFIX or TBT.
Performance
PFIX vs. TBT - Performance Comparison
Returns By Period
In the year-to-date period, PFIX achieves a 30.57% return, which is significantly higher than TBT's 20.97% return.
PFIX
30.57%
9.67%
7.43%
-0.44%
N/A
N/A
TBT
20.97%
11.35%
2.61%
-1.55%
8.30%
-2.72%
Key characteristics
| PFIX | TBT | |
|---|---|---|
| Sharpe Ratio | -0.04 | -0.13 |
| Sortino Ratio | 0.25 | 0.02 |
| Omega Ratio | 1.03 | 1.00 |
| Calmar Ratio | -0.04 | -0.04 |
| Martin Ratio | -0.10 | -0.30 |
| Ulcer Index | 15.70% | 12.86% |
| Daily Std Dev | 40.94% | 29.26% |
| Max Drawdown | -39.52% | -94.99% |
| Current Drawdown | -18.01% | -86.61% |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
PFIX vs. TBT - Expense Ratio Comparison
PFIX has a 0.50% expense ratio, which is lower than TBT's 0.92% expense ratio.
Correlation
The correlation between PFIX and TBT is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
PFIX vs. TBT - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Interest Rate Hedge ETF (PFIX) and ProShares UltraShort 20+ Year Treasury (TBT). 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.
Dividends
PFIX vs. TBT - Dividend Comparison
PFIX's dividend yield for the trailing twelve months is around 65.31%, more than TBT's 5.06% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | 65.31% | 80.99% | 0.63% | 0.00% | 0.00% | 0.00% | 0.00% |
TBT ProShares UltraShort 20+ Year Treasury | 5.06% | 4.98% | 0.42% | 0.00% | 0.32% | 2.12% | 0.99% |
Drawdowns
PFIX vs. TBT - Drawdown Comparison
The maximum PFIX drawdown since its inception was -39.52%, smaller than the maximum TBT drawdown of -94.99%. Use the drawdown chart below to compare losses from any high point for PFIX and TBT. For additional features, visit the drawdowns tool.
Volatility
PFIX vs. TBT - Volatility Comparison
Simplify Interest Rate Hedge ETF (PFIX) has a higher volatility of 13.23% compared to ProShares UltraShort 20+ Year Treasury (TBT) at 9.58%. This indicates that PFIX's price experiences larger fluctuations and is considered to be riskier than TBT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.