SHRIX vs. SIXH

Last updated Jul 25, 2026

SHRIX (Stone Ridge High Yield Reinsurance Risk Premium Fund Class I) and SIXH (6 Meridian Hedged Equity-Index Option Strategy ETF) are both funds - SHRIX is a Multistrategy fund actively managed by Stone Ridge, while SIXH is a Equity Hedged fund actively managed by Exchange Traded Concepts. Both are actively managed. Over the past 5 years, SHRIX returned 9.20%/yr vs 9.81%/yr for SIXH. Their 0.02 correlation means their historical movements had little consistent relationship. SHRIX charges 1.76%/yr vs 0.87%/yr for SIXH.

Performance

SHRIX vs. SIXH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Stone Ridge High Yield Reinsurance Risk Premium Fund Class I (SHRIX) and 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SHRIX achieves a 2.85% return, which is significantly lower than SIXH's 12.63% return.

SHRIX

• 1D: 0.00%
• 1M: 0.81%
• 6M: 2.27%
• YTD: 2.85%
• 1Y: 11.55%
• 3Y*: 12.87%
• 5Y*: 9.20%
• 10Y*: —
• ALL TIME*: 5.88%

SIXH

• 1D: 0.70%
• 1M: 1.82%
• 6M: 10.01%
• YTD: 12.63%
• 1Y: 15.33%
• 3Y*: 13.52%
• 5Y*: 9.81%
• 10Y*: —
• ALL TIME*: 11.40%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SHRIX Stone Ridge High Yield Reinsurance Risk Premium Fund Class I	$0.00	$0.00	$0.00
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	$429.06K	$537.34K	$402.11K

SHRIX vs. SIXH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SHRIX Stone Ridge High Yield Reinsurance Risk Premium Fund Class I	2.85%	10.70%	16.73%	21.07%	-3.37%	1.88%	6.61%
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	12.63%	9.47%	12.06%	4.93%	6.90%	18.37%	6.49%

Correlation

The correlation between SHRIX and SIXH is 0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.03
Correlation (3Y) Balances recent behavior with more history.	0.02
Correlation (5Y) Shows whether the relationship held over a longer period.	0.00
Correlation (All Time) Calculated using the full available price history since May 11, 2020	0.02

Return for Risk

SHRIX vs. SIXH — Risk / Return Rank

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

SHRIX

SHRIX Risk / Return Rank: 99
SHRIX Sharpe Ratio Rank: 100
SHRIX Sortino Ratio Rank: 98
SHRIX Omega Ratio Rank: 100
SHRIX Calmar Ratio Rank: 98
SHRIX Martin Ratio Rank: 98

SIXH

SIXH Risk / Return Rank: 82
SIXH Sharpe Ratio Rank: 83
SIXH Sortino Ratio Rank: 89
SIXH Omega Ratio Rank: 80
SIXH Calmar Ratio Rank: 86
SIXH Martin Ratio Rank: 71

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.

SHRIX vs. SIXH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Stone Ridge High Yield Reinsurance Risk Premium Fund Class I (SHRIX) and 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH). 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.

	SHRIX	SIXH	Difference
Sharpe ratio: Return per unit of total volatility	5.03	1.93	+3.10
Sortino ratio: Return per unit of downside risk	5.82	3.01	+2.81
Omega ratio: Gain probability vs. loss probability	4.85	1.34	+3.51
Calmar ratio: Return relative to maximum drawdown	6.33	3.46	+2.87
Martin ratio: Return relative to average drawdown	21.97	8.80	+13.17

SHRIX vs. SIXH - Sharpe Ratio Comparison

The current SHRIX Sharpe Ratio is 5.03, which is higher than the SIXH Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of SHRIX and SIXH, 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

SHRIX vs. SIXH - Drawdown Comparison

The maximum SHRIX drawdown since its inception was -14.34%, which is greater than SIXH's maximum drawdown of -11.68%. Use the drawdown chart below to compare losses from any high point for SHRIX and SIXH.

Drawdown Indicators

	SHRIX	SIXH	Difference
Max Drawdown Largest peak-to-trough decline	-14.34%	-11.68%	-2.66%
Max Drawdown (1Y) Largest decline over 1 year	-1.87%	-4.36%	+2.49%
Max Drawdown (3Y) Largest decline over 3 years	-6.91%	-9.10%	+2.19%
Max Drawdown (5Y) Largest decline over 5 years	-12.69%	-11.68%	-1.01%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.03%	-1.82%	-0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	1.72%	-1.18%

Volatility

SHRIX vs. SIXH - Volatility Comparison

The current volatility for Stone Ridge High Yield Reinsurance Risk Premium Fund Class I (SHRIX) is 0.25%, while 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) has a volatility of 2.30%. This indicates that SHRIX experiences smaller price fluctuations and is considered to be less risky than SIXH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHRIX	SIXH	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.25%	2.30%	-2.05%
Volatility (6M) Calculated over the trailing 6-month period	2.02%	6.25%	-4.23%
Volatility (1Y) Calculated over the trailing 1-year period	2.36%	7.84%	-5.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.27%	10.38%	-4.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.24%	10.09%	-3.85%

SHRIX vs. SIXH - Expense Ratio Comparison

SHRIX has a 1.76% expense ratio, which is higher than SIXH's 0.87% expense ratio.

Dividends

SHRIX vs. SIXH - Dividend Comparison

SHRIX's dividend yield for the trailing twelve months is around 11.13%, more than SIXH's 1.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SHRIX Stone Ridge High Yield Reinsurance Risk Premium Fund Class I	11.13%	10.92%	14.34%	12.34%	3.89%	4.61%	6.34%	5.06%	5.09%	0.35%
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	1.83%	2.23%	1.55%	2.04%	2.06%	1.65%	1.10%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SHRIX and SIXH in my portfolio?

SHRIX and SIXH have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHRIX or SIXH?

SIXH has higher volatility (2.30%) compared to SHRIX (0.25%). In terms of maximum drawdown, SHRIX dropped -14.34% vs SIXH's -11.68%.

Which has better risk-adjusted returns?

SHRIX currently has the higher Sharpe Ratio (5.03 vs 1.93), 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.