SPD vs. SDMF

Last updated Jun 4, 2026

SPD (Simplify US Equity PLUS Downside Convexity ETF) and SDMF (Simplify DBi CTA Managed Futures Index ETF) are both exchange-traded funds - SPD is a Large Cap Blend Equities fund actively managed by Simplify, while SDMF is a Systematic Trend fund tracking the DBi CTA Managed Futures Index. SPD is actively managed, while SDMF is passively managed. At a 0.03 correlation, their price movements are largely independent. SPD charges 0.53%/yr vs 0.35%/yr for SDMF.

Performance

SPD vs. SDMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify US Equity PLUS Downside Convexity ETF (SPD) and Simplify DBi CTA Managed Futures Index ETF (SDMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPD

• 1D: -0.70%
• 1M: 5.09%
• YTD: 6.70%
• 6M: 5.81%
• 1Y: 14.01%
• 3Y*: 17.87%
• 5Y*: 8.36%
• 10Y*: —

SDMF

• 1D: 0.00%
• 1M: 2.56%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPD vs. SDMF - Yearly Performance Comparison

	2026 (YTD)
SPD Simplify US Equity PLUS Downside Convexity ETF	7.98%
SDMF Simplify DBi CTA Managed Futures Index ETF	3.28%

Correlation

The correlation between SPD and SDMF is 0.03, 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 Feb 20, 2026	0.03

Return for Risk

SPD vs. SDMF — Risk / Return Rank

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

SPD

SPD Risk / Return Rank: 27
SPD Sharpe Ratio Rank: 29
SPD Sortino Ratio Rank: 29
SPD Omega Ratio Rank: 27
SPD Calmar Ratio Rank: 25
SPD Martin Ratio Rank: 27

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.

SPD vs. SDMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS Downside Convexity ETF (SPD) and Simplify DBi CTA Managed Futures Index ETF (SDMF). 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.

	SPD	SDMF	Difference
Sharpe ratio Return per unit of total volatility	1.07	—	—
Sortino ratio Return per unit of downside risk	1.58	—	—
Omega ratio Gain probability vs. loss probability	1.18	—	—
Calmar ratio Return relative to maximum drawdown	1.18	—	—
Martin ratio Return relative to average drawdown	3.67	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SPD	SDMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.07	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.91	-0.23

Drawdowns

SPD vs. SDMF - Drawdown Comparison

The maximum SPD drawdown since its inception was -27.38%, which is greater than SDMF's maximum drawdown of -6.23%. Use the drawdown chart below to compare losses from any high point for SPD and SDMF.

Drawdown Indicators

	SPD	SDMF	Difference
Max Drawdown Largest peak-to-trough decline	-27.38%	-6.23%	-21.15%
Max Drawdown (1Y) Largest decline over 1 year	-11.90%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.18%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.38%	—	—
Current Drawdown Current decline from peak	-0.70%	0.00%	-0.70%
Average Drawdown Average peak-to-trough decline	-7.72%	-2.29%	-5.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.82%	—	—

Volatility

Volatility by Period

	SPD	SDMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.35%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.60%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.22%	13.36%	-0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.04%	13.36%	+2.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.98%	13.36%	+2.62%

SPD vs. SDMF - Expense Ratio Comparison

SPD has a 0.53% expense ratio, which is higher than SDMF's 0.35% expense ratio.

Dividends

SPD vs. SDMF - Dividend Comparison

SPD's dividend yield for the trailing twelve months is around 0.96%, while SDMF has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
SDMF Simplify DBi CTA Managed Futures Index ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPD Simplify US Equity PLUS Downside Convexity ETF	0.96%	0.97%	1.14%	1.91%	1.64%	0.88%	0.43%

Frequently Asked Questions

Can I hold both SPD and SDMF in my portfolio?

SPD and SDMF 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 ETF is better, SPD or SDMF?

On fees, SDMF is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPD or SDMF?

SDMF is cheaper with a 0.35% expense ratio, compared with 0.53% for SPD.

Which ETF pays a higher dividend yield, SPD or SDMF?

SPD has the higher dividend yield at 0.96%, compared with 0.00% for SDMF.

What is the main difference between SPD and SDMF?

SPD is categorized as Large Cap Blend Equities, while SDMF is Systematic Trend. Their fees differ too: 0.53% for SPD and 0.35% for SDMF.