QTR vs. PFIX
QTR (Global X NASDAQ 100 Tail Risk ETF) and PFIX (Simplify Interest Rate Hedge ETF) are both exchange-traded funds - QTR is a Nasdaq-100 fund tracking the NASDAQ-100 Quarterly Protective Put 90 Index, while PFIX is a Inverse Bonds fund actively managed by Simplify. QTR is passively managed, while PFIX is actively managed. Over the past 3 years, QTR returned 17.27%/yr vs 17.57%/yr for PFIX. Their -0.09 correlation means they have often moved in opposite directions in the past. QTR charges 0.60%/yr vs 0.50%/yr for PFIX.
Performance
QTR vs. PFIX - Performance Comparison
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Returns By Period
In the year-to-date period, QTR achieves a 9.22% return, which is significantly lower than PFIX's 10.66% return.
QTR
- 1D
- 0.35%
- 1M
- -3.59%
- 6M
- 8.37%
- YTD
- 9.22%
- 1Y
- 19.33%
- 3Y*
- 17.27%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.19%
PFIX
- 1D
- 3.06%
- 1M
- 17.72%
- 6M
- 11.49%
- YTD
- 10.66%
- 1Y
- 7.25%
- 3Y*
- 17.57%
- 5Y*
- 23.20%
- 10Y*
- —
- ALL TIME*
- 17.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.29M | $5.62M | $16.95M | |
| $20.65K | $23.70K | $62.72K |
QTR vs. PFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
QTR Global X NASDAQ 100 Tail Risk ETF | 9.22% | 14.52% | 21.46% | 45.53% | -29.94% | 4.16% |
PFIX Simplify Interest Rate Hedge ETF | 10.66% | 0.42% | 35.94% | 5.67% | 92.05% | -6.71% |
Correlation
The correlation between QTR and PFIX is -0.24, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.24 |
Correlation (3Y) Balances recent behavior with more history. | -0.12 |
Correlation (All Time) Calculated using the full available price history since Aug 26, 2021 | -0.09 |
The correlation between QTR and PFIX shifts across timeframes, from -0.24 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
QTR vs. PFIX — Risk / Return Rank
QTR
PFIX
QTR vs. PFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X NASDAQ 100 Tail Risk ETF (QTR) 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.
| QTR | PFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.04 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 0.10 | +1.31 |
| Martin ratioReturn relative to average drawdown | 4.26 | 0.15 | +4.10 |
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Drawdowns
QTR vs. PFIX - Drawdown Comparison
The maximum QTR drawdown since its inception was -31.72%, smaller than the maximum PFIX drawdown of -36.17%. Use the drawdown chart below to compare losses from any high point for QTR and PFIX.
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Drawdown Indicators
| QTR | PFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.72% | -36.17% | +4.45% |
Max Drawdown (1Y)Largest decline over 1 year | -12.29% | -23.71% | +11.42% |
Max Drawdown (3Y)Largest decline over 3 years | -18.99% | -36.17% | +17.18% |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.17% | — |
Current DrawdownCurrent decline from peak | -7.38% | -8.76% | +1.38% |
Average DrawdownAverage peak-to-trough decline | -8.69% | -17.19% | +8.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.06% | 15.42% | -11.36% |
Volatility
QTR vs. PFIX - Volatility Comparison
The current volatility for Global X NASDAQ 100 Tail Risk ETF (QTR) is 4.46%, while Simplify Interest Rate Hedge ETF (PFIX) has a volatility of 7.75%. This indicates that QTR 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
| QTR | PFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.46% | 7.75% | -3.29% |
Volatility (6M)Calculated over the trailing 6-month period | 13.49% | 21.92% | -8.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.64% | 29.31% | -12.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.30% | 38.61% | -20.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.30% | 38.13% | -19.83% |
QTR vs. PFIX - Expense Ratio Comparison
QTR has a 0.60% expense ratio, which is higher than PFIX's 0.50% expense ratio.
Dividends
QTR vs. PFIX - Dividend Comparison
QTR's dividend yield for the trailing twelve months is around 17.10%, more than PFIX's 7.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | 7.82% | 9.92% | 3.40% | 87.92% | 0.63% | 0.00% |
QTR Global X NASDAQ 100 Tail Risk ETF | 17.10% | 18.77% | 0.50% | 0.53% | 0.36% | 1.90% |
Frequently Asked Questions
QTR and PFIX have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFIX has higher volatility (7.75%) compared to QTR (4.46%). In terms of maximum drawdown, QTR dropped -31.72% vs PFIX's -36.17%.
On 3-year performance, PFIX leads with 17.57% vs 17.27% for QTR. On fees, PFIX is cheaper at 0.50% per year. On volatility, QTR has been the lower-risk option at 4.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PFIX has performed better with a 17.57% return vs 17.27%. 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 0.60% for QTR.
QTR has the higher dividend yield at 17.10%, compared with 7.82% for PFIX.
QTR is categorized as Nasdaq-100, while PFIX is Inverse Bonds. They also come from different issuers: Global X and Simplify. Their fees differ too: 0.60% for QTR and 0.50% for PFIX.
QTR currently has the higher Sharpe Ratio (1.04 vs 0.08), 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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