PST vs. PFIX
PST (ProShares UltraShort 7-10 Year Treasury) and PFIX (Simplify Interest Rate Hedge ETF) are both exchange-traded funds - PST is a Inverse Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while PFIX is a Hedge Fund fund actively managed by Simplify. PST is passively managed, while PFIX is actively managed. Over the past 5 years, PST returned 9.44%/yr vs 17.72%/yr for PFIX. A 0.76 correlation means they provide meaningful diversification when combined. PST charges 0.95%/yr vs 0.50%/yr for PFIX.
Performance
PST vs. PFIX - Performance Comparison
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Returns By Period
In the year-to-date period, PST achieves a 4.69% return, which is significantly higher than PFIX's -6.98% return.
PST
- 1D
- -0.27%
- 1M
- -0.60%
- YTD
- 4.69%
- 6M
- 5.06%
- 1Y
- 3.06%
- 3Y*
- 5.23%
- 5Y*
- 9.44%
- 10Y*
- 2.73%
PFIX
- 1D
- -0.61%
- 1M
- -11.02%
- YTD
- -6.98%
- 6M
- -6.81%
- 1Y
- -12.36%
- 3Y*
- 15.87%
- 5Y*
- 17.72%
- 10Y*
- —
PST vs. PFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PST ProShares UltraShort 7-10 Year Treasury | 4.69% | -4.42% | 12.27% | 3.17% | 38.55% | -4.34% |
PFIX Simplify Interest Rate Hedge ETF | -6.98% | 0.42% | 35.94% | 5.67% | 92.05% | -24.98% |
Correlation
The correlation between PST and PFIX is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since May 11, 2021 | 0.76 |
The correlation between PST and PFIX shifts across timeframes, from 0.65 (1 year) to 0.79 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PST vs. PFIX — Risk / Return Rank
PST
PFIX
PST vs. PFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort 7-10 Year Treasury (PST) and Simplify Interest Rate Hedge ETF (PFIX). 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.
| PST | PFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 0.95 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.45 | -0.48 | +0.93 |
| Martin ratioReturn relative to average drawdown | 0.80 | -0.74 | +1.54 |
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Drawdowns
PST vs. PFIX - Drawdown Comparison
The maximum PST drawdown since its inception was -79.25%, which is greater than PFIX's maximum drawdown of -36.17%. Use the drawdown chart below to compare losses from any high point for PST and PFIX.
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Drawdown Indicators
| PST | PFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.25% | -36.17% | -43.08% |
Max Drawdown (1Y)Largest decline over 1 year | -6.90% | -25.64% | +18.74% |
Max Drawdown (3Y)Largest decline over 3 years | -16.19% | -36.17% | +19.98% |
Max Drawdown (5Y)Largest decline over 5 years | -16.19% | -36.17% | +19.98% |
Max Drawdown (10Y)Largest decline over 10 years | -36.07% | — | — |
Current DrawdownCurrent decline from peak | -64.08% | -23.31% | -40.77% |
Average DrawdownAverage peak-to-trough decline | -61.48% | -17.15% | -44.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.83% | 16.70% | -12.87% |
Volatility
PST vs. PFIX - Volatility Comparison
The current volatility for ProShares UltraShort 7-10 Year Treasury (PST) is 2.73%, while Simplify Interest Rate Hedge ETF (PFIX) has a volatility of 6.85%. This indicates that PST experiences smaller price fluctuations and is considered to be less risky than PFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PST | PFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.73% | 6.85% | -4.12% |
Volatility (6M)Calculated over the trailing 6-month period | 7.03% | 21.31% | -14.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.49% | 29.19% | -19.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.59% | 38.46% | -22.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.30% | 38.23% | -24.93% |
PST vs. PFIX - Expense Ratio Comparison
PST has a 0.95% expense ratio, which is higher than PFIX's 0.50% expense ratio.
Dividends
PST vs. PFIX - Dividend Comparison
PST's dividend yield for the trailing twelve months is around 3.08%, less than PFIX's 10.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | 10.44% | 9.92% | 3.40% | 87.92% | 0.63% | 0.00% | 0.00% | 0.00% | 0.00% |
PST ProShares UltraShort 7-10 Year Treasury | 3.08% | 3.47% | 3.61% | 3.69% | 0.02% | 0.00% | 0.11% | 1.85% | 0.66% |
Frequently Asked Questions
PST and PFIX have a correlation of 0.65, 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 PST (2.73%). In terms of maximum drawdown, PST dropped -79.25% vs PFIX's -36.17%.
On 5-year performance, PFIX leads with 17.72% vs 9.44% for PST. On fees, PFIX is cheaper at 0.50% per year. On volatility, PST has been the lower-risk option at 2.73%. 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 9.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFIX is cheaper with a 0.50% expense ratio, compared with 0.95% for PST.
PFIX has the higher dividend yield at 10.44%, compared with 3.08% for PST.
PST is categorized as Inverse Bonds, while PFIX is Hedge Fund. They also come from different issuers: ProShares and Simplify. Their fees differ too: 0.95% for PST and 0.50% for PFIX.
PST currently has the higher Sharpe Ratio (0.32 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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