PFIX vs. YGLD

Last updated Jul 14, 2026

PFIX (Simplify Interest Rate Hedge ETF) and YGLD (Simplify Gold Strategy PLUS Income ETF) are both exchange-traded funds - PFIX is a Hedge Fund fund actively managed by Simplify, while YGLD is a Gold fund actively managed by Simplify. Both are actively managed. Over the past year, PFIX returned -9.65% vs 4.85% for YGLD. At a correlation of -0.07, they often move in opposite directions. Both charge a 0.50% expense ratio.

Performance

PFIX vs. YGLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Interest Rate Hedge ETF (PFIX) and Simplify Gold Strategy PLUS Income ETF (YGLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFIX achieves a -0.95% return, which is significantly higher than YGLD's -20.87% return.

PFIX

• 1D: 0.47%
• 1M: 3.10%
• 6M: 0.73%
• YTD: -0.95%
• 1Y: -9.65%
• 3Y*: 16.45%
• 5Y*: 20.64%
• 10Y*: —

YGLD

• 1D: -4.09%
• 1M: -7.59%
• 6M: -28.00%
• YTD: -20.87%
• 1Y: 4.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PFIX vs. YGLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PFIX Simplify Interest Rate Hedge ETF	-0.95%	0.42%	17.54%
YGLD Simplify Gold Strategy PLUS Income ETF	-20.87%	96.82%	-4.26%

Correlation

The correlation between PFIX and YGLD is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (All Time) Calculated using the full available price history since Dec 3, 2024	-0.07

Return for Risk

PFIX vs. YGLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PFIX

PFIX Risk / Return Rank: 6
PFIX Sharpe Ratio Rank: 6
PFIX Sortino Ratio Rank: 6
PFIX Omega Ratio Rank: 6
PFIX Calmar Ratio Rank: 6
PFIX Martin Ratio Rank: 7

YGLD

YGLD Risk / Return Rank: 12
YGLD Sharpe Ratio Rank: 11
YGLD Sortino Ratio Rank: 12
YGLD Omega Ratio Rank: 13
YGLD Calmar Ratio Rank: 11
YGLD Martin Ratio Rank: 11

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PFIX vs. YGLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Interest Rate Hedge ETF (PFIX) and Simplify Gold Strategy PLUS Income ETF (YGLD). 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	YGLD	Difference
Sharpe ratio: Return per unit of total volatility	-0.33	0.12	-0.45
Sortino ratio: Return per unit of downside risk	-0.30	0.43	-0.73
Omega ratio: Gain probability vs. loss probability	0.97	1.06	-0.09
Calmar ratio: Return relative to maximum drawdown	-0.38	0.11	-0.49
Martin ratio: Return relative to average drawdown	-0.56	0.25	-0.81

PFIX vs. YGLD - Sharpe Ratio Comparison

The current PFIX Sharpe Ratio is -0.33, which is lower than the YGLD Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of PFIX and YGLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PFIX vs. YGLD - Drawdown Comparison

The maximum PFIX drawdown since its inception was -36.17%, smaller than the maximum YGLD drawdown of -42.90%. Use the drawdown chart below to compare losses from any high point for PFIX and YGLD.

Drawdown Indicators

	PFIX	YGLD	Difference
Max Drawdown Largest peak-to-trough decline	-36.17%	-42.90%	+6.73%
Max Drawdown (1Y) Largest decline over 1 year	-25.64%	-42.90%	+17.26%
Max Drawdown (3Y) Largest decline over 3 years	-36.17%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-36.17%	—	—
Current Drawdown Current decline from peak	-18.33%	-42.90%	+24.57%
Average Drawdown Average peak-to-trough decline	-17.21%	-9.92%	-7.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.30%	19.47%	-2.17%

Volatility

PFIX vs. YGLD - Volatility Comparison

The current volatility for Simplify Interest Rate Hedge ETF (PFIX) is 9.44%, while Simplify Gold Strategy PLUS Income ETF (YGLD) has a volatility of 11.47%. This indicates that PFIX experiences smaller price fluctuations and is considered to be less risky than YGLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFIX	YGLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.44%	11.47%	-2.03%
Volatility (6M) Calculated over the trailing 6-month period	22.16%	35.91%	-13.75%
Volatility (1Y) Calculated over the trailing 1-year period	29.34%	42.25%	-12.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.55%	39.38%	-0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.20%	39.38%	-1.18%

PFIX vs. YGLD - Expense Ratio Comparison

Both PFIX and YGLD have an expense ratio of 0.50%.

Dividends

PFIX vs. YGLD - Dividend Comparison

PFIX's dividend yield for the trailing twelve months is around 9.78%, less than YGLD's 22.04% yield.

Position	TTM	2025	2024	2023	2022	2021
PFIX Simplify Interest Rate Hedge ETF	9.78%	9.92%	3.40%	87.92%	0.63%	0.00%
YGLD Simplify Gold Strategy PLUS Income ETF	22.04%	12.05%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PFIX and YGLD in my portfolio?

PFIX and YGLD have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFIX or YGLD?

YGLD has higher volatility (11.47%) compared to PFIX (9.44%). In terms of maximum drawdown, PFIX dropped -36.17% vs YGLD's -42.90%.

Which ETF is better, PFIX or YGLD?

On 1-year performance, YGLD leads with 4.85% vs -9.65% for PFIX. Both ETFs have the same 0.50% expense ratio. On volatility, PFIX has been the lower-risk option at 9.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PFIX or YGLD?

Over the 1-year period, YGLD has performed better with a 4.85% return vs -9.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PFIX or YGLD?

PFIX and YGLD have the same expense ratio: 0.50% per year.

Which ETF pays a higher dividend yield, PFIX or YGLD?

YGLD has the higher dividend yield at 22.04%, compared with 9.78% for PFIX.

What is the main difference between PFIX and YGLD?

PFIX is categorized as Hedge Fund, while YGLD is Gold.

Which has better risk-adjusted returns?

YGLD currently has the higher Sharpe Ratio (0.12 vs -0.33), 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.