PFIX vs. VWOB
PFIX (Simplify Interest Rate Hedge ETF) and VWOB (Vanguard Emerging Markets Government Bond ETF) are both exchange-traded funds - PFIX is a Hedge Fund fund actively managed by Simplify, while VWOB is a Emerging Markets Bonds fund tracking the Bloomberg USD Emerging Markets Government RIC Capped Index. PFIX is actively managed, while VWOB is passively managed. Over the past 5 years, PFIX returned 17.72%/yr vs 2.07%/yr for VWOB. At a correlation of -0.58, they often move in opposite directions. PFIX charges 0.50%/yr vs 0.15%/yr for VWOB.
Performance
PFIX vs. VWOB - Performance Comparison
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Returns By Period
In the year-to-date period, PFIX achieves a -6.98% return, which is significantly lower than VWOB's 1.92% return.
PFIX
- 1D
- -0.61%
- 1M
- -11.02%
- YTD
- -6.98%
- 6M
- -6.81%
- 1Y
- -12.36%
- 3Y*
- 15.87%
- 5Y*
- 17.72%
- 10Y*
- —
VWOB
- 1D
- -0.16%
- 1M
- 1.64%
- YTD
- 1.92%
- 6M
- 1.94%
- 1Y
- 10.08%
- 3Y*
- 9.01%
- 5Y*
- 2.07%
- 10Y*
- 3.50%
PFIX vs. VWOB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | -6.98% | 0.42% | 35.94% | 5.67% | 92.05% | -24.98% |
VWOB Vanguard Emerging Markets Government Bond ETF | 1.92% | 13.49% | 5.20% | 10.68% | -17.39% | 0.93% |
Correlation
The correlation between PFIX and VWOB is -0.62, 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 | -0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.58 |
Correlation (All Time) Calculated using the full available price history since May 11, 2021 | -0.58 |
The correlation between PFIX and VWOB has been stable across timeframes, ranging from -0.68 to -0.58 - a consistent structural relationship.
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Return for Risk
PFIX vs. VWOB — Risk / Return Rank
PFIX
VWOB
PFIX vs. VWOB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Interest Rate Hedge ETF (PFIX) and Vanguard Emerging Markets Government Bond ETF (VWOB). 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 | VWOB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.34 | ||
| Sortino ratioReturn per unit of downside risk | -3.26 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.37 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 2.26 | -2.74 |
| Martin ratioReturn relative to average drawdown | -0.74 | 9.52 | -10.26 |
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Drawdowns
PFIX vs. VWOB - Drawdown Comparison
The maximum PFIX drawdown since its inception was -36.17%, which is greater than VWOB's maximum drawdown of -26.98%. Use the drawdown chart below to compare losses from any high point for PFIX and VWOB.
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Drawdown Indicators
| PFIX | VWOB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.17% | -26.98% | -9.19% |
Max Drawdown (1Y)Largest decline over 1 year | -25.64% | -4.48% | -21.16% |
Max Drawdown (3Y)Largest decline over 3 years | -36.17% | -7.71% | -28.46% |
Max Drawdown (5Y)Largest decline over 5 years | -36.17% | -26.98% | -9.19% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.98% | — |
Current DrawdownCurrent decline from peak | -23.31% | -0.53% | -22.78% |
Average DrawdownAverage peak-to-trough decline | -17.15% | -4.79% | -12.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.70% | 1.06% | +15.64% |
Volatility
PFIX vs. VWOB - Volatility Comparison
Simplify Interest Rate Hedge ETF (PFIX) has a higher volatility of 6.85% compared to Vanguard Emerging Markets Government Bond ETF (VWOB) at 1.74%. This indicates that PFIX's price experiences larger fluctuations and is considered to be riskier than VWOB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFIX | VWOB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.85% | 1.74% | +5.11% |
Volatility (6M)Calculated over the trailing 6-month period | 21.31% | 4.34% | +16.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.19% | 5.29% | +23.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.46% | 9.19% | +29.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.23% | 9.35% | +28.88% |
PFIX vs. VWOB - Expense Ratio Comparison
PFIX has a 0.50% expense ratio, which is higher than VWOB's 0.15% expense ratio.
Dividends
PFIX vs. VWOB - Dividend Comparison
PFIX's dividend yield for the trailing twelve months is around 10.44%, more than VWOB's 5.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | 10.44% | 9.92% | 3.40% | 87.92% | 0.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VWOB Vanguard Emerging Markets Government Bond ETF | 5.82% | 5.92% | 6.08% | 5.50% | 5.30% | 4.04% | 4.18% | 4.58% | 4.52% | 4.61% | 4.71% | 4.93% |
Frequently Asked Questions
PFIX and VWOB have a correlation of -0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFIX has higher volatility (6.85%) compared to VWOB (1.74%). In terms of maximum drawdown, PFIX dropped -36.17% vs VWOB's -26.98%.
On 5-year performance, PFIX leads with 17.72% vs 2.07% for VWOB. On fees, VWOB is cheaper at 0.15% per year. On volatility, VWOB has been the lower-risk option at 1.74%. 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 17.72% return vs 2.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VWOB is cheaper with a 0.15% expense ratio, compared with 0.50% for PFIX.
PFIX has the higher dividend yield at 10.44%, compared with 5.82% for VWOB.
PFIX is categorized as Hedge Fund, while VWOB is Emerging Markets Bonds. They also come from different issuers: Simplify and Vanguard. Their fees differ too: 0.50% for PFIX and 0.15% for VWOB.
VWOB currently has the higher Sharpe Ratio (1.92 vs -0.43), 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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