SBIL vs. PFIX
SBIL (Simplify Government Money Market ETF) and PFIX (Simplify Interest Rate Hedge ETF) are both exchange-traded funds - SBIL is a Money Market fund actively managed by Simplify, while PFIX is a Hedge Fund fund actively managed by Simplify. Both are actively managed. At a correlation of -0.04, they often move in opposite directions. SBIL charges 0.15%/yr vs 0.50%/yr for PFIX.
Performance
SBIL vs. PFIX - Performance Comparison
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Returns By Period
In the year-to-date period, SBIL achieves a 1.90% return, which is significantly higher than PFIX's -0.95% return.
SBIL
- 1D
- 0.03%
- 1M
- 0.30%
- 6M
- 1.77%
- YTD
- 1.90%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PFIX
- 1D
- 0.47%
- 1M
- 3.10%
- 6M
- 0.73%
- YTD
- -0.95%
- 1Y
- -9.65%
- 3Y*
- 16.45%
- 5Y*
- 20.64%
- 10Y*
- —
SBIL vs. PFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SBIL Simplify Government Money Market ETF | 1.90% | 1.88% |
PFIX Simplify Interest Rate Hedge ETF | -0.95% | -10.19% |
Correlation
The correlation between SBIL and PFIX is -0.04, 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 (All Time) Calculated using the full available price history since Jul 15, 2025 | -0.04 |
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Return for Risk
SBIL vs. PFIX — Risk / Return Rank
SBIL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PFIX
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.
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.
| SBIL | PFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.97 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.38 | — |
| Martin ratioReturn relative to average drawdown | — | -0.56 | — |
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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.
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Drawdown Indicators
| SBIL | PFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.03% | -36.17% | +36.14% |
Max Drawdown (1Y)Largest decline over 1 year | — | -25.64% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -36.17% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -36.17% | — |
Current DrawdownCurrent decline from peak | 0.00% | -18.33% | +18.33% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -17.21% | +17.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 17.30% | — |
Volatility
SBIL vs. PFIX - Volatility Comparison
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Volatility by Period
| SBIL | PFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.44% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 22.16% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 0.26% | 29.34% | -29.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.26% | 38.55% | -38.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.26% | 38.20% | -37.94% |
SBIL vs. PFIX - Expense Ratio Comparison
SBIL has a 0.15% expense ratio, which is lower than PFIX's 0.50% expense ratio.
Dividends
SBIL vs. PFIX - Dividend Comparison
SBIL's dividend yield for the trailing twelve months is around 3.55%, less than PFIX's 9.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | 9.78% | 9.92% | 3.40% | 87.92% | 0.63% | 0.00% |
SBIL Simplify Government Money Market ETF | 3.55% | 1.79% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SBIL and PFIX have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SBIL is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SBIL is cheaper with a 0.15% expense ratio, compared with 0.50% for PFIX.
PFIX has the higher dividend yield at 9.78%, compared with 3.55% for SBIL.
SBIL is categorized as Money Market, while PFIX is Hedge Fund. Their fees differ too: 0.15% for SBIL and 0.50% for PFIX.
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