SHLD vs. PFIX

Last updated Jun 14, 2026

SHLD (Global X Defense Tech ETF) and PFIX (Simplify Interest Rate Hedge ETF) are both exchange-traded funds - SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index, while PFIX is a Hedge Fund fund actively managed by Simplify. SHLD is passively managed, while PFIX is actively managed. Over the past year, SHLD returned 8.26% vs -12.06% for PFIX. At a correlation of -0.10, they often move in opposite directions. Both charge a 0.50% expense ratio.

Performance

SHLD vs. PFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Defense Tech ETF (SHLD) 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, SHLD achieves a -1.50% return, which is significantly higher than PFIX's -3.92% return.

SHLD

• 1D: -2.04%
• 1M: 2.37%
• YTD: -1.50%
• 6M: -1.03%
• 1Y: 8.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PFIX

• 1D: -1.32%
• 1M: -9.30%
• YTD: -3.92%
• 6M: -5.54%
• 1Y: -12.06%
• 3Y*: 15.02%
• 5Y*: 17.43%
• 10Y*: —

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

SHLD vs. PFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SHLD Global X Defense Tech ETF	-1.50%	74.16%	35.03%	12.89%
PFIX Simplify Interest Rate Hedge ETF	-3.92%	0.42%	35.94%	-6.72%

Correlation

The correlation between SHLD and PFIX is -0.13, 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	-0.13
Correlation (All Time) Calculated using the full available price history since Sep 13, 2023	-0.10

Return for Risk

SHLD vs. PFIX — Risk / Return Rank

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

SHLD

SHLD Risk / Return Rank: 16
SHLD Sharpe Ratio Rank: 17
SHLD Sortino Ratio Rank: 17
SHLD Omega Ratio Rank: 16
SHLD Calmar Ratio Rank: 16
SHLD Martin Ratio Rank: 16

PFIX

PFIX Risk / Return Rank: 6
PFIX Sharpe Ratio Rank: 6
PFIX Sortino Ratio Rank: 7
PFIX Omega Ratio Rank: 7
PFIX Calmar Ratio Rank: 6
PFIX Martin Ratio Rank: 7

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.

SHLD vs. PFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Defense Tech ETF (SHLD) 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.

	SHLD	PFIX	Difference
Sharpe ratio: Return per unit of total volatility	0.43	-0.34	+0.76
Sortino ratio: Return per unit of downside risk	0.78	-0.29	+1.07
Omega ratio: Gain probability vs. loss probability	1.09	0.97	+0.12
Calmar ratio: Return relative to maximum drawdown	0.52	-0.40	+0.92
Martin ratio: Return relative to average drawdown	1.28	-0.62	+1.90

SHLD vs. PFIX - Sharpe Ratio Comparison

The current SHLD Sharpe Ratio is 0.43, which is higher than the PFIX Sharpe Ratio of -0.34. The chart below compares the historical Sharpe Ratios of SHLD 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.

Drawdowns

SHLD vs. PFIX - Drawdown Comparison

The maximum SHLD drawdown since its inception was -20.10%, smaller than the maximum PFIX drawdown of -36.17%. Use the drawdown chart below to compare losses from any high point for SHLD and PFIX.

Drawdown Indicators

	SHLD	PFIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.10%	-36.17%	+16.07%
Max Drawdown (1Y) Largest decline over 1 year	-20.10%	-25.64%	+5.54%
Max Drawdown (3Y) Largest decline over 3 years	—	-36.17%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-36.17%	—
Current Drawdown Current decline from peak	-18.20%	-20.78%	+2.58%
Average Drawdown Average peak-to-trough decline	-3.34%	-17.13%	+13.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.12%	16.52%	-8.40%

Volatility

SHLD vs. PFIX - Volatility Comparison

Global X Defense Tech ETF (SHLD) has a higher volatility of 9.05% compared to Simplify Interest Rate Hedge ETF (PFIX) at 8.38%. This indicates that SHLD's price experiences larger fluctuations and is considered to be riskier than PFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHLD	PFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.05%	8.38%	+0.67%
Volatility (6M) Calculated over the trailing 6-month period	19.94%	21.22%	-1.28%
Volatility (1Y) Calculated over the trailing 1-year period	24.55%	30.44%	-5.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.29%	38.52%	-17.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.29%	38.29%	-17.00%

SHLD vs. PFIX - Expense Ratio Comparison

Both SHLD and PFIX have an expense ratio of 0.50%.

Dividends

SHLD vs. PFIX - Dividend Comparison

SHLD's dividend yield for the trailing twelve months is around 0.56%, less than PFIX's 10.11% yield.

Position	TTM	2025	2024	2023	2022	2021
PFIX Simplify Interest Rate Hedge ETF	10.11%	9.92%	3.40%	87.92%	0.63%	0.00%
SHLD Global X Defense Tech ETF	0.56%	0.55%	0.53%	0.26%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SHLD and PFIX in my portfolio?

SHLD and PFIX have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHLD or PFIX?

SHLD has higher volatility (9.05%) compared to PFIX (8.38%). In terms of maximum drawdown, SHLD dropped -20.10% vs PFIX's -36.17%.

Which ETF is better, SHLD or PFIX?

On 1-year performance, SHLD leads with 8.26% vs -12.06% for PFIX. Both ETFs have the same 0.50% expense ratio. On volatility, PFIX has been the lower-risk option at 8.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHLD or PFIX?

Over the 1-year period, SHLD has performed better with a 8.26% return vs -12.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHLD or PFIX?

SHLD and PFIX have the same expense ratio: 0.50% per year.

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

PFIX has the higher dividend yield at 10.11%, compared with 0.56% for SHLD.

What is the main difference between SHLD and PFIX?

SHLD is categorized as Aerospace & Defense, while PFIX is Hedge Fund. They also come from different issuers: Global X and Simplify.

Which has better risk-adjusted returns?

SHLD currently has the higher Sharpe Ratio (0.43 vs -0.34), 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.