RYLD vs. PFIX

Last updated Jun 4, 2026

RYLD (Global X Russell 2000 Covered Call ETF) and PFIX (Simplify Interest Rate Hedge ETF) are both Hedge Fund funds. RYLD is passively managed, while PFIX is actively managed. Over the past 5 years, RYLD returned 2.69%/yr vs 16.86%/yr for PFIX. At a correlation of -0.08, they often move in opposite directions. RYLD charges 0.60%/yr vs 0.50%/yr for PFIX.

Performance

RYLD vs. PFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Russell 2000 Covered Call ETF (RYLD) and Simplify Interest Rate Hedge ETF (PFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYLD achieves a 8.33% return, which is significantly higher than PFIX's -2.55% return.

RYLD

• 1D: -0.19%
• 1M: 2.78%
• YTD: 8.33%
• 6M: 9.14%
• 1Y: 21.47%
• 3Y*: 7.45%
• 5Y*: 2.69%
• 10Y*: —

PFIX

• 1D: 0.36%
• 1M: -3.76%
• YTD: -2.55%
• 6M: 1.53%
• 1Y: -15.57%
• 3Y*: 14.54%
• 5Y*: 16.86%
• 10Y*: —

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

RYLD vs. PFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RYLD Global X Russell 2000 Covered Call ETF	8.33%	5.65%	10.13%	0.27%	-13.03%	7.77%
PFIX Simplify Interest Rate Hedge ETF	-2.55%	0.42%	35.94%	5.67%	92.05%	-24.95%

Correlation

The correlation between RYLD and PFIX is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.17
Correlation (3Y) Calculated over the trailing 3-year period	-0.13
Correlation (5Y) Calculated over the trailing 5-year period	-0.07
Correlation (All Time) Calculated using the full available price history since May 12, 2021	-0.08

RYLD vs. PFIX - Sectors Allocation Comparison

Sectors	RYLD	PFIX
Financial Services	104.9%	32.2%
Industrials	17.5%	-
Technology	16.8%	-
Healthcare	16.5%	-
Consumer Cyclical	8.4%	-
Real Estate	6.2%	-
Energy	6.2%	-
Basic Materials	4.8%	-
Utilities	2.9%	-
Communication Services	2.5%	-
Consumer Defensive	2.4%	-

Return for Risk

RYLD vs. PFIX — Risk / Return Rank

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

RYLD

RYLD Risk / Return Rank: 66
RYLD Sharpe Ratio Rank: 59
RYLD Sortino Ratio Rank: 59
RYLD Omega Ratio Rank: 69
RYLD Calmar Ratio Rank: 68
RYLD Martin Ratio Rank: 73

PFIX

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

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.

RYLD vs. PFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Russell 2000 Covered Call ETF (RYLD) 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.

	RYLD	PFIX	Difference
Sharpe ratio: Return per unit of total volatility	2.03	-0.52	+2.54
Sortino ratio: Return per unit of downside risk	2.86	-0.58	+3.44
Omega ratio: Gain probability vs. loss probability	1.42	0.93	+0.49
Calmar ratio: Return relative to maximum drawdown	3.43	-0.61	+4.04
Martin ratio: Return relative to average drawdown	13.86	-0.96	+14.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYLD vs. PFIX - Sharpe Ratio Comparison

The current RYLD Sharpe Ratio is 2.03, which is higher than the PFIX Sharpe Ratio of -0.52. The chart below compares the historical Sharpe Ratios of RYLD and PFIX, 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

	RYLD	PFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.03	-0.52	+2.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.44	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.39	-0.08

Drawdowns

RYLD vs. PFIX - Drawdown Comparison

The maximum RYLD drawdown since its inception was -41.53%, which is greater than PFIX's maximum drawdown of -36.17%. Use the drawdown chart below to compare losses from any high point for RYLD and PFIX.

Drawdown Indicators

	RYLD	PFIX	Difference
Max Drawdown Largest peak-to-trough decline	-41.53%	-36.17%	-5.36%
Max Drawdown (1Y) Largest decline over 1 year	-6.29%	-25.64%	+19.35%
Max Drawdown (3Y) Largest decline over 3 years	-19.05%	-36.17%	+17.12%
Max Drawdown (5Y) Largest decline over 5 years	-21.33%	-36.17%	+14.84%
Current Drawdown Current decline from peak	-0.19%	-19.65%	+19.46%
Average Drawdown Average peak-to-trough decline	-8.84%	-17.13%	+8.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	16.35%	-14.80%

Volatility

RYLD vs. PFIX - Volatility Comparison

The current volatility for Global X Russell 2000 Covered Call ETF (RYLD) is 2.02%, while Simplify Interest Rate Hedge ETF (PFIX) has a volatility of 7.51%. This indicates that RYLD 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.

Volatility by Period

	RYLD	PFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.02%	7.51%	-5.49%
Volatility (6M) Calculated over the trailing 6-month period	7.60%	20.89%	-13.29%
Volatility (1Y) Calculated over the trailing 1-year period	10.67%	30.32%	-19.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.03%	38.50%	-24.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.20%	38.35%	-21.15%

RYLD vs. PFIX - Expense Ratio Comparison

RYLD has a 0.60% expense ratio, which is higher than PFIX's 0.50% expense ratio.

Dividends

RYLD vs. PFIX - Dividend Comparison

RYLD's dividend yield for the trailing twelve months is around 11.65%, more than PFIX's 9.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
PFIX Simplify Interest Rate Hedge ETF	9.96%	9.92%	3.40%	87.92%	0.63%	0.00%	0.00%	0.00%
RYLD Global X Russell 2000 Covered Call ETF	11.65%	12.00%	12.03%	12.64%	13.49%	12.35%	10.76%	6.43%

Frequently Asked Questions

Can I hold both RYLD and PFIX in my portfolio?

RYLD and PFIX have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYLD or PFIX?

PFIX has higher volatility (7.51%) compared to RYLD (2.02%). In terms of maximum drawdown, RYLD dropped -41.53% vs PFIX's -36.17%.

Which ETF is better, RYLD or PFIX?

On 5-year performance, PFIX leads with 16.86% vs 2.69% for RYLD. On fees, PFIX is cheaper at 0.50% per year. On volatility, RYLD has been the lower-risk option at 2.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RYLD or PFIX?

Over the 5-year period, PFIX has performed better with a 16.86% return vs 2.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RYLD or PFIX?

PFIX is cheaper with a 0.50% expense ratio, compared with 0.60% for RYLD.

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

RYLD has the higher dividend yield at 11.65%, compared with 9.96% for PFIX.

What is the main difference between RYLD and PFIX?

They also come from different issuers: Global X and Simplify. Their fees differ too: 0.60% for RYLD and 0.50% for PFIX.

Which has better risk-adjusted returns?

RYLD currently has the higher Sharpe Ratio (2.03 vs -0.52), 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.