PFIX vs. XLK
PFIX (Simplify Interest Rate Hedge ETF) and XLK (State Street Technology Select Sector SPDR ETF) are both exchange-traded funds - PFIX is a Hedge Fund fund actively managed by Simplify, while XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. PFIX is actively managed, while XLK is passively managed. Over the past 5 years, PFIX returned 17.43%/yr vs 22.02%/yr for XLK. At a correlation of -0.06, they often move in opposite directions. PFIX charges 0.50%/yr vs 0.08%/yr for XLK.
Performance
PFIX vs. XLK - Performance Comparison
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Returns By Period
In the year-to-date period, PFIX achieves a -3.92% return, which is significantly lower than XLK's 28.52% return.
PFIX
- 1D
- -1.32%
- 1M
- -5.62%
- YTD
- -3.92%
- 6M
- -5.54%
- 1Y
- -12.06%
- 3Y*
- 15.02%
- 5Y*
- 17.43%
- 10Y*
- —
XLK
- 1D
- 0.87%
- 1M
- 2.95%
- YTD
- 28.52%
- 6M
- 28.96%
- 1Y
- 55.42%
- 3Y*
- 30.28%
- 5Y*
- 22.02%
- 10Y*
- 25.19%
PFIX vs. XLK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | -3.92% | 0.42% | 35.94% | 5.67% | 92.05% | -24.98% |
XLK State Street Technology Select Sector SPDR ETF | 28.52% | 24.61% | 21.63% | 56.02% | -27.73% | 29.00% |
Correlation
The correlation between PFIX and XLK is -0.18, 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 | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since May 11, 2021 | -0.06 |
The correlation between PFIX and XLK shifts across timeframes, from -0.18 (1 year) to -0.06 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PFIX vs. XLK — Risk / Return Rank
PFIX
XLK
PFIX vs. XLK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Interest Rate Hedge ETF (PFIX) and State Street Technology Select Sector SPDR ETF (XLK). 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 | XLK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.71 | ||
| Sortino ratioReturn per unit of downside risk | -3.21 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.39 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | 3.36 | -3.76 |
| Martin ratioReturn relative to average drawdown | -0.62 | 10.85 | -11.47 |
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Drawdowns
PFIX vs. XLK - Drawdown Comparison
The maximum PFIX drawdown since its inception was -36.17%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for PFIX and XLK.
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Drawdown Indicators
| PFIX | XLK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.17% | -82.05% | +45.88% |
Max Drawdown (1Y)Largest decline over 1 year | -25.64% | -15.92% | -9.72% |
Max Drawdown (3Y)Largest decline over 3 years | -36.17% | -25.66% | -10.51% |
Max Drawdown (5Y)Largest decline over 5 years | -36.17% | -33.56% | -2.61% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.56% | — |
Current DrawdownCurrent decline from peak | -20.78% | -6.77% | -14.01% |
Average DrawdownAverage peak-to-trough decline | -17.13% | -34.93% | +17.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.52% | 4.92% | +11.60% |
Volatility
PFIX vs. XLK - Volatility Comparison
The current volatility for Simplify Interest Rate Hedge ETF (PFIX) is 8.38%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 10.86%. This indicates that PFIX experiences smaller price fluctuations and is considered to be less risky than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFIX | XLK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.38% | 10.86% | -2.48% |
Volatility (6M)Calculated over the trailing 6-month period | 21.22% | 18.92% | +2.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.44% | 22.55% | +7.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.52% | 25.18% | +13.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.29% | 24.64% | +13.65% |
PFIX vs. XLK - Expense Ratio Comparison
PFIX has a 0.50% expense ratio, which is higher than XLK's 0.08% expense ratio.
Dividends
PFIX vs. XLK - Dividend Comparison
PFIX's dividend yield for the trailing twelve months is around 10.11%, more than XLK's 0.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | 10.11% | 9.92% | 3.40% | 87.92% | 0.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XLK State Street Technology Select Sector SPDR ETF | 0.41% | 0.54% | 0.66% | 0.76% | 1.04% | 0.65% | 0.92% | 1.16% | 1.60% | 1.37% | 1.74% | 1.79% |
Frequently Asked Questions
PFIX and XLK have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XLK has higher volatility (10.86%) compared to PFIX (8.38%). In terms of maximum drawdown, PFIX dropped -36.17% vs XLK's -82.05%.
On 5-year performance, XLK leads with 22.02% vs 17.43% for PFIX. On fees, XLK is cheaper at 0.08% per year. On volatility, PFIX has been the lower-risk option at 8.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, XLK has performed better with a 22.02% return vs 17.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XLK is cheaper with a 0.08% expense ratio, compared with 0.50% for PFIX.
PFIX has the higher dividend yield at 10.11%, compared with 0.41% for XLK.
PFIX is categorized as Hedge Fund, while XLK is Technology Equities. They also come from different issuers: Simplify and State Street. Their fees differ too: 0.50% for PFIX and 0.08% for XLK.
XLK currently has the higher Sharpe Ratio (2.37 vs -0.34), 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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