PFIX vs. VTIP
PFIX (Simplify Interest Rate Hedge ETF) and VTIP (Vanguard Short-Term Inflation-Protected Securities ETF) are both exchange-traded funds - PFIX is a Hedge Fund fund actively managed by Simplify, while VTIP is a Inflation-Protected Bonds fund tracking the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. PFIX is actively managed, while VTIP is passively managed. Over the past 5 years, PFIX returned 16.86%/yr vs 3.37%/yr for VTIP. At a correlation of -0.38, they often move in opposite directions. PFIX charges 0.50%/yr vs 0.03%/yr for VTIP.
Performance
PFIX vs. VTIP - Performance Comparison
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Returns By Period
In the year-to-date period, PFIX achieves a -2.55% return, which is significantly lower than VTIP's 2.05% return.
PFIX
- 1D
- 0.36%
- 1M
- -3.76%
- YTD
- -2.55%
- 6M
- 1.53%
- 1Y
- -15.57%
- 3Y*
- 14.54%
- 5Y*
- 16.86%
- 10Y*
- —
VTIP
- 1D
- 0.00%
- 1M
- 0.04%
- YTD
- 2.05%
- 6M
- 2.03%
- 1Y
- 4.70%
- 3Y*
- 5.26%
- 5Y*
- 3.37%
- 10Y*
- 3.14%
PFIX vs. VTIP - 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% |
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 2.05% | 6.07% | 4.74% | 4.62% | -2.94% | 2.85% |
Correlation
The correlation between PFIX and VTIP is -0.21, 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 | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.38 |
Correlation (All Time) Calculated using the full available price history since May 12, 2021 | -0.38 |
The correlation between PFIX and VTIP shifts across timeframes, from -0.44 (3 years) to -0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PFIX vs. VTIP — Risk / Return Rank
PFIX
VTIP
PFIX vs. VTIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Interest Rate Hedge ETF (PFIX) and Vanguard Short-Term Inflation-Protected Securities ETF (VTIP). 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 | VTIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.66 | ||
| Sortino ratioReturn per unit of downside risk | -5.94 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.67 | -0.73 |
| Calmar ratioReturn relative to maximum drawdown | -0.61 | 6.75 | -7.36 |
| Martin ratioReturn relative to average drawdown | -0.96 | 26.06 | -27.02 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PFIX | VTIP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.52 | 3.15 | -3.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 1.22 | -0.78 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.15 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.89 | -0.50 |
Drawdowns
PFIX vs. VTIP - Drawdown Comparison
The maximum PFIX drawdown since its inception was -36.17%, which is greater than VTIP's maximum drawdown of -6.27%. Use the drawdown chart below to compare losses from any high point for PFIX and VTIP.
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Drawdown Indicators
| PFIX | VTIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.17% | -6.27% | -29.90% |
Max Drawdown (1Y)Largest decline over 1 year | -25.64% | -0.70% | -24.94% |
Max Drawdown (3Y)Largest decline over 3 years | -36.17% | -0.98% | -35.19% |
Max Drawdown (5Y)Largest decline over 5 years | -36.17% | -5.50% | -30.67% |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.27% | — |
Current DrawdownCurrent decline from peak | -19.65% | -0.02% | -19.63% |
Average DrawdownAverage peak-to-trough decline | -17.13% | -1.04% | -16.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.35% | 0.18% | +16.17% |
Volatility
PFIX vs. VTIP - Volatility Comparison
Simplify Interest Rate Hedge ETF (PFIX) has a higher volatility of 7.51% compared to Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) at 0.43%. This indicates that PFIX's price experiences larger fluctuations and is considered to be riskier than VTIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFIX | VTIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.51% | 0.43% | +7.08% |
Volatility (6M)Calculated over the trailing 6-month period | 20.89% | 1.02% | +19.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.32% | 1.50% | +28.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.50% | 2.77% | +35.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.35% | 2.74% | +35.61% |
PFIX vs. VTIP - Expense Ratio Comparison
PFIX has a 0.50% expense ratio, which is higher than VTIP's 0.03% expense ratio.
Dividends
PFIX vs. VTIP - Dividend Comparison
PFIX's dividend yield for the trailing twelve months is around 9.96%, more than VTIP's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | 9.96% | 9.92% | 3.40% | 87.92% | 0.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 3.58% | 3.81% | 2.70% | 2.86% | 6.84% | 4.68% | 1.20% | 1.95% | 2.45% | 1.52% | 0.76% |
Frequently Asked Questions
PFIX and VTIP have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFIX has higher volatility (7.51%) compared to VTIP (0.43%). In terms of maximum drawdown, PFIX dropped -36.17% vs VTIP's -6.27%.
On 5-year performance, PFIX leads with 16.86% vs 3.37% for VTIP. On fees, VTIP is cheaper at 0.03% per year. On volatility, VTIP has been the lower-risk option at 0.43%. 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 16.86% return vs 3.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTIP is cheaper with a 0.03% expense ratio, compared with 0.50% for PFIX.
PFIX has the higher dividend yield at 9.96%, compared with 3.58% for VTIP.
PFIX is categorized as Hedge Fund, while VTIP is Inflation-Protected Bonds. They also come from different issuers: Simplify and Vanguard. Their fees differ too: 0.50% for PFIX and 0.03% for VTIP.
VTIP currently has the higher Sharpe Ratio (3.15 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.
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