SBIL vs. PFIX

Last updated Apr 1, 2026

Compare and contrast key facts about Simplify Government Money Market ETF (SBIL) and Simplify Interest Rate Hedge ETF (PFIX).

SBIL and PFIX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SBIL is an actively managed fund by Simplify. It was launched on Jul 14, 2025. PFIX is an actively managed fund by Simplify. It was launched on May 10, 2021.

Performance

SBIL vs. PFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Government Money Market ETF (SBIL) and Simplify Interest Rate Hedge ETF (PFIX). The values are adjusted to include any dividend payments, if applicable.

SBIL vs. PFIX - Yearly Performance Comparison

	2026 (YTD)	2025
SBIL Simplify Government Money Market ETF	0.86%	1.88%
PFIX Simplify Interest Rate Hedge ETF	-2.90%	-12.81%

Returns By Period

In the year-to-date period, SBIL achieves a 0.86% return, which is significantly higher than PFIX's -2.90% return.

SBIL

• 1D: -0.00%
• 1M: 0.27%
• YTD: 0.86%
• 6M: 1.85%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PFIX

• 1D: -3.95%
• 1M: 11.53%
• YTD: -2.90%
• 6M: 2.03%
• 1Y: 4.58%
• 3Y*: 17.99%
• 5Y*: —
• 10Y*: —

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

SBIL vs. PFIX - Expense Ratio Comparison

SBIL has a 0.15% expense ratio, which is lower than PFIX's 0.50% expense ratio.

PFIX

Simplify Interest Rate Hedge ETF

SBIL

Simplify Government Money Market ETF

Return for Risk

SBIL vs. PFIX — Risk / Return Rank

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

PFIX

PFIX Risk / Return Rank: 16
PFIX Sharpe Ratio Rank: 16
PFIX Sortino Ratio Rank: 19
PFIX Omega Ratio Rank: 17
PFIX Calmar Ratio Rank: 14
PFIX Martin Ratio Rank: 14

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.

SBIL vs. PFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Government Money Market ETF (SBIL) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SBIL	PFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.13	—
Sharpe Ratio (All Time) Calculated using the full available price history	14.25	0.40	+13.85

Correlation

The correlation between SBIL and PFIX is -0.06. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

SBIL vs. PFIX - Dividend Comparison

SBIL's dividend yield for the trailing twelve months is around 2.68%, less than PFIX's 10.17% yield.

	TTM	2025	2024	2023	2022	2021
SBIL Simplify Government Money Market ETF	2.68%	1.79%	0.00%	0.00%	0.00%	0.00%
PFIX Simplify Interest Rate Hedge ETF	10.17%	9.92%	3.40%	87.92%	0.63%	0.00%

Drawdowns

SBIL vs. PFIX - Drawdown Comparison

The maximum SBIL drawdown since its inception was -0.03%, smaller than the maximum PFIX drawdown of -36.17%. Use the drawdown chart below to compare losses from any high point for SBIL and PFIX.

Drawdown Indicators

	SBIL	PFIX	Difference
Max Drawdown Largest peak-to-trough decline	-0.03%	-36.17%	+36.14%
Max Drawdown (1Y) Largest decline over 1 year	—	-28.22%	—
Current Drawdown Current decline from peak	0.00%	-19.94%	+19.94%
Average Drawdown Average peak-to-trough decline	0.00%	-17.07%	+17.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	17.44%	—

Volatility

Volatility by Period

	SBIL	PFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	13.71%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.28%	35.00%	-34.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.28%	38.75%	-38.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.28%	38.75%	-38.47%