PINK vs. CANC

Last updated Jun 4, 2026

PINK (Simplify Health Care ETF) and CANC (Tema Oncology ETF) are both Health & Biotech Equities funds. Both are actively managed. Over the past 3 years, PINK returned 14.42%/yr vs 107.76%/yr for CANC. At a 0.46 correlation, their price movements are largely independent. PINK charges 0.50%/yr vs 0.75%/yr for CANC.

Performance

PINK vs. CANC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Health Care ETF (PINK) and Tema Oncology ETF (CANC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PINK achieves a 2.39% return, which is significantly lower than CANC's 4.82% return.

PINK

• 1D: 1.24%
• 1M: 7.28%
• YTD: 2.39%
• 6M: 2.11%
• 1Y: 31.27%
• 3Y*: 14.42%
• 5Y*: —
• 10Y*: —

CANC

• 1D: 0.08%
• 1M: -3.73%
• YTD: 4.82%
• 6M: 3.86%
• 1Y: 47.37%
• 3Y*: 107.76%
• 5Y*: —
• 10Y*: —

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

PINK vs. CANC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PINK Simplify Health Care ETF	2.39%	24.34%	8.81%	3.80%	-4.41%	12.20%
CANC Tema Oncology ETF	4.82%	42.92%	-5.37%	510.51%	-85.34%	-49.18%

Correlation

The correlation between PINK and CANC is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (All Time) Calculated using the full available price history since Oct 11, 2021	0.46

Over the past year, PINK and CANC have become more correlated (0.68) than their long-term average of 0.46, meaning their price movements have been converging.

PINK vs. CANC - Sectors Allocation Comparison

Sectors	PINK	CANC
Healthcare	93.1%	100.0%
Industrials	6.9%	-
Financial Services	0.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

PINK vs. CANC — Risk / Return Rank

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

PINK

PINK Risk / Return Rank: 44
PINK Sharpe Ratio Rank: 50
PINK Sortino Ratio Rank: 51
PINK Omega Ratio Rank: 46
PINK Calmar Ratio Rank: 38
PINK Martin Ratio Rank: 36

CANC

CANC Risk / Return Rank: 69
CANC Sharpe Ratio Rank: 61
CANC Sortino Ratio Rank: 64
CANC Omega Ratio Rank: 54
CANC Calmar Ratio Rank: 90
CANC Martin Ratio Rank: 77

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.

PINK vs. CANC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Health Care ETF (PINK) and Tema Oncology ETF (CANC). 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.

	PINK	CANC	Difference
Sharpe ratio Return per unit of total volatility	1.73	2.06	-0.33
Sortino ratio Return per unit of downside risk	2.50	2.96	-0.46
Omega ratio Gain probability vs. loss probability	1.29	1.34	-0.04
Calmar ratio Return relative to maximum drawdown	1.87	5.49	-3.62
Martin ratio Return relative to average drawdown	5.62	14.62	-9.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PINK vs. CANC - Sharpe Ratio Comparison

The current PINK Sharpe Ratio is 1.73, which is comparable to the CANC Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of PINK and CANC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PINK	CANC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	2.06	-0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	-0.04	+0.60

Drawdowns

PINK vs. CANC - Drawdown Comparison

The maximum PINK drawdown since its inception was -18.77%, smaller than the maximum CANC drawdown of -97.53%. Use the drawdown chart below to compare losses from any high point for PINK and CANC.

Drawdown Indicators

	PINK	CANC	Difference
Max Drawdown Largest peak-to-trough decline	-18.77%	-97.53%	+78.76%
Max Drawdown (1Y) Largest decline over 1 year	-16.81%	-8.67%	-8.14%
Max Drawdown (3Y) Largest decline over 3 years	-18.77%	-30.27%	+11.50%
Current Drawdown Current decline from peak	-2.84%	-56.55%	+53.71%
Average Drawdown Average peak-to-trough decline	-6.75%	-73.19%	+66.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.57%	3.25%	+2.32%

Volatility

PINK vs. CANC - Volatility Comparison

The current volatility for Simplify Health Care ETF (PINK) is 4.36%, while Tema Oncology ETF (CANC) has a volatility of 6.26%. This indicates that PINK experiences smaller price fluctuations and is considered to be less risky than CANC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PINK	CANC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	6.26%	-1.90%
Volatility (6M) Calculated over the trailing 6-month period	13.44%	16.69%	-3.25%
Volatility (1Y) Calculated over the trailing 1-year period	18.17%	23.11%	-4.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.57%	280.27%	-262.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.57%	280.27%	-262.70%

PINK vs. CANC - Expense Ratio Comparison

PINK has a 0.50% expense ratio, which is lower than CANC's 0.75% expense ratio.

Dividends

PINK vs. CANC - Dividend Comparison

PINK's dividend yield for the trailing twelve months is around 0.67%, more than CANC's 0.05% yield.

Position	TTM	2025	2024	2023	2022	2021
CANC Tema Oncology ETF	0.05%	0.06%	3.00%	0.56%	0.00%	0.00%
PINK Simplify Health Care ETF	0.67%	0.68%	0.32%	0.94%	0.42%	0.04%

Frequently Asked Questions

Can I hold both PINK and CANC in my portfolio?

PINK and CANC have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PINK or CANC?

CANC has higher volatility (6.26%) compared to PINK (4.36%). In terms of maximum drawdown, PINK dropped -18.77% vs CANC's -97.53%.

Which ETF is better, PINK or CANC?

On 3-year performance, CANC leads with 107.76% vs 14.42% for PINK. On fees, PINK is cheaper at 0.50% per year. On volatility, PINK has been the lower-risk option at 4.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PINK or CANC?

Over the 3-year period, CANC has performed better with a 107.76% return vs 14.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PINK or CANC?

PINK is cheaper with a 0.50% expense ratio, compared with 0.75% for CANC.

Which ETF pays a higher dividend yield, PINK or CANC?

PINK has the higher dividend yield at 0.67%, compared with 0.05% for CANC.

What is the main difference between PINK and CANC?

They also come from different issuers: Simplify and Tema. Their fees differ too: 0.50% for PINK and 0.75% for CANC.

Which has better risk-adjusted returns?

CANC currently has the higher Sharpe Ratio (2.06 vs 1.73), 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.