SIXH vs. HEQT

Last updated Aug 4, 2026

SIXH (6 Meridian Hedged Equity-Index Option Strategy ETF) and HEQT (Simplify Hedged Equity ETF) are both Equity Hedged funds. Both are actively managed. Over the past 3 years, SIXH returned 13.11%/yr vs 13.27%/yr for HEQT. Their 0.36 correlation means their historical movements had little consistent relationship. SIXH charges 0.87%/yr vs 0.43%/yr for HEQT.

Performance

SIXH vs. HEQT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) and Simplify Hedged Equity ETF (HEQT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIXH achieves a 11.60% return, which is significantly higher than HEQT's 6.73% return.

SIXH

• 1D: -0.19%
• 1M: 1.06%
• 6M: 6.10%
• YTD: 11.60%
• 1Y: 15.22%
• 3Y*: 13.11%
• 5Y*: 9.52%
• 10Y*: —
• ALL TIME*: 11.19%

HEQT

• 1D: 0.94%
• 1M: 1.56%
• 6M: 5.12%
• YTD: 6.73%
• 1Y: 13.86%
• 3Y*: 13.27%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.19%

*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)
HEQT Simplify Hedged Equity ETF	$1.83M	$1.55M	$1.82M
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	$1.56M	$1.08M	$613.75K

SIXH vs. HEQT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	11.60%	9.47%	12.06%	4.93%	6.90%	2.79%
HEQT Simplify Hedged Equity ETF	6.73%	10.08%	18.30%	16.61%	-8.25%	2.11%

Correlation

The correlation between SIXH and HEQT is 0.12, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.12
Correlation (3Y) Balances recent behavior with more history.	0.23
Correlation (All Time) Calculated using the full available price history since Nov 2, 2021	0.36

Over the past year, the correlation between SIXH and HEQT has dropped to 0.12 - well below their long-term average of 0.36, suggesting their price drivers have been diverging.

Return for Risk

SIXH vs. HEQT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SIXH

SIXH Risk / Return Rank: 80
SIXH Sharpe Ratio Rank: 80
SIXH Sortino Ratio Rank: 87
SIXH Omega Ratio Rank: 78
SIXH Calmar Ratio Rank: 86
SIXH Martin Ratio Rank: 69

HEQT

HEQT Risk / Return Rank: 83
HEQT Sharpe Ratio Rank: 84
HEQT Sortino Ratio Rank: 84
HEQT Omega Ratio Rank: 87
HEQT Calmar Ratio Rank: 76
HEQT Martin Ratio Rank: 85

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SIXH vs. HEQT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) and Simplify Hedged Equity ETF (HEQT). 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.

	SIXH	HEQT	Difference
Sharpe ratio: Return per unit of total volatility	1.94	2.00	-0.06
Sortino ratio: Return per unit of downside risk	3.04	2.83	+0.21
Omega ratio: Gain probability vs. loss probability	1.34	1.39	-0.05
Calmar ratio: Return relative to maximum drawdown	3.50	2.73	+0.77
Martin ratio: Return relative to average drawdown	8.88	12.13	-3.25

SIXH vs. HEQT - Sharpe Ratio Comparison

The current SIXH Sharpe Ratio is 1.94, which is comparable to the HEQT Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of SIXH and HEQT, 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

SIXH vs. HEQT - Drawdown Comparison

The maximum SIXH drawdown since its inception was -11.68%, roughly equal to the maximum HEQT drawdown of -11.51%. Use the drawdown chart below to compare losses from any high point for SIXH and HEQT.

Drawdown Indicators

	SIXH	HEQT	Difference
Max Drawdown Largest peak-to-trough decline	-11.68%	-11.51%	-0.17%
Max Drawdown (1Y) Largest decline over 1 year	-4.36%	-5.09%	+0.73%
Max Drawdown (3Y) Largest decline over 3 years	-9.10%	-10.57%	+1.47%
Max Drawdown (5Y) Largest decline over 5 years	-11.68%	—	—
Current Drawdown Current decline from peak	-1.82%	0.00%	-1.82%
Average Drawdown Average peak-to-trough decline	-1.82%	-2.71%	+0.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	1.15%	+0.57%

Volatility

SIXH vs. HEQT - Volatility Comparison

6 Meridian Hedged Equity-Index Option Strategy ETF (SIXH) and Simplify Hedged Equity ETF (HEQT) have volatilities of 2.40% and 2.34%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIXH	HEQT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.40%	2.34%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	6.23%	5.76%	+0.47%
Volatility (1Y) Calculated over the trailing 1-year period	7.89%	6.98%	+0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.39%	8.45%	+1.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.09%	8.45%	+1.64%

SIXH vs. HEQT - Expense Ratio Comparison

SIXH has a 0.87% expense ratio, which is higher than HEQT's 0.43% expense ratio.

Dividends

SIXH vs. HEQT - Dividend Comparison

SIXH's dividend yield for the trailing twelve months is around 1.83%, more than HEQT's 1.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
HEQT Simplify Hedged Equity ETF	1.18%	1.19%	1.29%	4.10%	3.94%	0.27%	0.00%
SIXH 6 Meridian Hedged Equity-Index Option Strategy ETF	1.83%	2.23%	1.55%	2.04%	2.06%	1.65%	1.10%

Frequently Asked Questions

Can I hold both SIXH and HEQT in my portfolio?

SIXH and HEQT have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIXH or HEQT?

SIXH has higher volatility (2.40%) compared to HEQT (2.34%). In terms of maximum drawdown, SIXH dropped -11.68% vs HEQT's -11.51%.

Which ETF is better, SIXH or HEQT?

On 3-year performance, HEQT leads with 13.27% vs 13.11% for SIXH. On fees, HEQT is cheaper at 0.43% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIXH or HEQT?

Over the 3-year period, HEQT has performed better with a 13.27% return vs 13.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIXH or HEQT?

HEQT is cheaper with a 0.43% expense ratio, compared with 0.87% for SIXH.

Which ETF pays a higher dividend yield, SIXH or HEQT?

SIXH has the higher dividend yield at 1.83%, compared with 1.18% for HEQT.

What is the main difference between SIXH and HEQT?

They also come from different issuers: Exchange Traded Concepts and Simplify. Their fees differ too: 0.87% for SIXH and 0.43% for HEQT.

Which has better risk-adjusted returns?

HEQT currently has the higher Sharpe Ratio (2.00 vs 1.94), 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.