RFIX vs. SVOL

Last updated Jun 4, 2026

RFIX (Simplify Bond Bull ETF) and SVOL (Simplify Volatility Premium ETF) are both exchange-traded funds - RFIX is a Nontraditional Bonds fund actively managed by Simplify, while SVOL is a Volatility fund actively managed by Simplify. Both are actively managed. Over the past year, RFIX returned -14.76% vs 10.62% for SVOL. At a 0.08 correlation, their price movements are largely independent. Both charge a 0.50% expense ratio.

Performance

RFIX vs. SVOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Bond Bull ETF (RFIX) and Simplify Volatility Premium ETF (SVOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RFIX achieves a 7.97% return, which is significantly higher than SVOL's -0.40% return.

RFIX

• 1D: 0.99%
• 1M: -2.56%
• YTD: 7.97%
• 6M: -2.48%
• 1Y: -14.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SVOL

• 1D: -0.12%
• 1M: 2.98%
• YTD: -0.40%
• 6M: 1.29%
• 1Y: 10.62%
• 3Y*: 6.58%
• 5Y*: 6.70%
• 10Y*: —

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

RFIX vs. SVOL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RFIX Simplify Bond Bull ETF	7.97%	-28.43%	-12.32%
SVOL Simplify Volatility Premium ETF	-0.40%	2.41%	-3.49%

Correlation

The correlation between RFIX and SVOL is 0.07, 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	0.07
Correlation (All Time) Calculated using the full available price history since Dec 11, 2024	0.08

Return for Risk

RFIX vs. SVOL — Risk / Return Rank

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

RFIX

RFIX Risk / Return Rank: 4
RFIX Sharpe Ratio Rank: 4
RFIX Sortino Ratio Rank: 4
RFIX Omega Ratio Rank: 5
RFIX Calmar Ratio Rank: 4
RFIX Martin Ratio Rank: 4

SVOL

SVOL Risk / Return Rank: 18
SVOL Sharpe Ratio Rank: 16
SVOL Sortino Ratio Rank: 16
SVOL Omega Ratio Rank: 18
SVOL Calmar Ratio Rank: 19
SVOL Martin Ratio Rank: 18

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.

RFIX vs. SVOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Bond Bull ETF (RFIX) and Simplify Volatility Premium ETF (SVOL). 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.

	RFIX	SVOL	Difference
Sharpe ratio: Return per unit of total volatility	-0.50	0.51	-1.01
Sortino ratio: Return per unit of downside risk	-0.55	0.85	-1.40
Omega ratio: Gain probability vs. loss probability	0.94	1.12	-0.18
Calmar ratio: Return relative to maximum drawdown	-0.58	0.82	-1.40
Martin ratio: Return relative to average drawdown	-1.01	1.94	-2.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RFIX vs. SVOL - Sharpe Ratio Comparison

The current RFIX Sharpe Ratio is -0.50, which is lower than the SVOL Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of RFIX and SVOL, 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

	RFIX	SVOL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.50	0.51	-1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.31	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.76	0.35	-1.11

Drawdowns

RFIX vs. SVOL - Drawdown Comparison

The maximum RFIX drawdown since its inception was -38.79%, which is greater than SVOL's maximum drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for RFIX and SVOL.

Drawdown Indicators

	RFIX	SVOL	Difference
Max Drawdown Largest peak-to-trough decline	-38.79%	-33.50%	-5.29%
Max Drawdown (1Y) Largest decline over 1 year	-25.48%	-13.01%	-12.47%
Max Drawdown (3Y) Largest decline over 3 years	—	-33.50%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.50%	—
Current Drawdown Current decline from peak	-32.25%	-2.98%	-29.27%
Average Drawdown Average peak-to-trough decline	-24.11%	-4.77%	-19.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.70%	5.49%	+9.21%

Volatility

RFIX vs. SVOL - Volatility Comparison

Simplify Bond Bull ETF (RFIX) has a higher volatility of 5.47% compared to Simplify Volatility Premium ETF (SVOL) at 1.41%. This indicates that RFIX's price experiences larger fluctuations and is considered to be riskier than SVOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RFIX	SVOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.47%	1.41%	+4.06%
Volatility (6M) Calculated over the trailing 6-month period	20.35%	9.57%	+10.78%
Volatility (1Y) Calculated over the trailing 1-year period	29.75%	20.90%	+8.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.90%	21.99%	+8.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.90%	21.92%	+8.98%

RFIX vs. SVOL - Expense Ratio Comparison

Both RFIX and SVOL have an expense ratio of 0.50%.

Dividends

RFIX vs. SVOL - Dividend Comparison

RFIX's dividend yield for the trailing twelve months is around 4.63%, less than SVOL's 22.10% yield.

Position	TTM	2025	2024	2023	2022	2021
RFIX Simplify Bond Bull ETF	4.63%	5.07%	0.00%	0.00%	0.00%	0.00%
SVOL Simplify Volatility Premium ETF	22.10%	19.82%	16.79%	16.36%	18.32%	4.65%

Frequently Asked Questions

Can I hold both RFIX and SVOL in my portfolio?

RFIX and SVOL have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RFIX or SVOL?

RFIX has higher volatility (5.47%) compared to SVOL (1.41%). In terms of maximum drawdown, RFIX dropped -38.79% vs SVOL's -33.50%.

Which ETF is better, RFIX or SVOL?

On 1-year performance, SVOL leads with 10.62% vs -14.76% for RFIX. Both ETFs have the same 0.50% expense ratio. On volatility, SVOL has been the lower-risk option at 1.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RFIX or SVOL?

Over the 1-year period, SVOL has performed better with a 10.62% return vs -14.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RFIX or SVOL?

RFIX and SVOL have the same expense ratio: 0.50% per year.

Which ETF pays a higher dividend yield, RFIX or SVOL?

SVOL has the higher dividend yield at 22.10%, compared with 4.63% for RFIX.

What is the main difference between RFIX and SVOL?

RFIX is categorized as Nontraditional Bonds, while SVOL is Volatility.

Which has better risk-adjusted returns?

SVOL currently has the higher Sharpe Ratio (0.51 vs -0.50), 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.