SPD vs. SVOL
SPD (Simplify US Equity PLUS Downside Convexity ETF) and SVOL (Simplify Volatility Premium ETF) are both exchange-traded funds - SPD is a Large Cap Blend Equities fund actively managed by Simplify, while SVOL is a Volatility fund actively managed by Simplify. Both are actively managed. Over the past 5 years, SPD returned 7.54%/yr vs 6.86%/yr for SVOL. Their 0.67 correlation means they have sometimes moved together and sometimes differently. SPD charges 0.53%/yr vs 0.50%/yr for SVOL.
Performance
SPD vs. SVOL - Performance Comparison
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Returns By Period
In the year-to-date period, SPD achieves a 7.33% return, which is significantly higher than SVOL's 1.56% return.
SPD
- 1D
- 1.80%
- 1M
- 1.36%
- 6M
- 6.17%
- YTD
- 7.33%
- 1Y
- 13.84%
- 3Y*
- 16.41%
- 5Y*
- 7.54%
- 10Y*
- —
- ALL TIME*
- 10.56%
SVOL
- 1D
- -0.25%
- 1M
- 0.32%
- 6M
- -0.36%
- YTD
- 1.56%
- 1Y
- 17.84%
- 3Y*
- 5.96%
- 5Y*
- 6.86%
- 10Y*
- —
- ALL TIME*
- 7.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $297.15K | $312.14K | $351.11K | |
| $4.51M | $3.79M | $4.39M |
SPD vs. SVOL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPD Simplify US Equity PLUS Downside Convexity ETF | 7.33% | 18.86% | 17.49% | 20.94% | -25.96% | 16.23% |
SVOL Simplify Volatility Premium ETF | 1.56% | 2.41% | 6.77% | 22.88% | -3.30% | 12.70% |
Correlation
The correlation between SPD and SVOL is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.68 |
Correlation (All Time) Calculated using the full available price history since May 13, 2021 | 0.67 |
The correlation between SPD and SVOL has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.
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Return for Risk
SPD vs. SVOL — Risk / Return Rank
SPD
SVOL
SPD vs. SVOL - 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 Volatility Premium ETF (SVOL). 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.
| SPD | SVOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.21 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 1.57 | -0.40 |
| Martin ratioReturn relative to average drawdown | 3.68 | 4.56 | -0.89 |
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Drawdowns
SPD vs. SVOL - Drawdown Comparison
The maximum SPD drawdown since its inception was -27.38%, smaller than the maximum SVOL drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for SPD and SVOL.
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Drawdown Indicators
| SPD | SVOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.38% | -33.50% | +6.12% |
Max Drawdown (1Y)Largest decline over 1 year | -11.90% | -11.42% | -0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -15.18% | -33.50% | +18.32% |
Max Drawdown (5Y)Largest decline over 5 years | -27.38% | -33.50% | +6.12% |
Current DrawdownCurrent decline from peak | -0.11% | -1.58% | +1.47% |
Average DrawdownAverage peak-to-trough decline | -7.56% | -4.68% | -2.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.77% | 3.92% | -0.15% |
Volatility
SPD vs. SVOL - Volatility Comparison
Simplify US Equity PLUS Downside Convexity ETF (SPD) and Simplify Volatility Premium ETF (SVOL) have volatilities of 4.12% and 4.17%, 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.
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Volatility by Period
| SPD | SVOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.12% | 4.17% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 9.54% | 9.63% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.29% | 17.09% | -3.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.18% | 21.96% | -5.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.95% | 21.73% | -5.78% |
SPD vs. SVOL - Expense Ratio Comparison
SPD has a 0.53% expense ratio, which is higher than SVOL's 0.50% expense ratio.
Dividends
SPD vs. SVOL - Dividend Comparison
SPD's dividend yield for the trailing twelve months is around 0.95%, less than SVOL's 22.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
SPD Simplify US Equity PLUS Downside Convexity ETF | 0.95% | 0.97% | 1.14% | 1.91% | 1.64% | 0.88% | 0.43% |
SVOL Simplify Volatility Premium ETF | 22.19% | 19.82% | 16.79% | 16.36% | 18.32% | 4.65% | 0.00% |
Frequently Asked Questions
SPD and SVOL have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SVOL has higher volatility (4.17%) compared to SPD (4.12%). In terms of maximum drawdown, SPD dropped -27.38% vs SVOL's -33.50%.
On 5-year performance, SPD leads with 7.54% vs 6.86% for SVOL. On fees, SVOL is cheaper at 0.50% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPD has performed better with a 7.54% return vs 6.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SVOL is cheaper with a 0.50% expense ratio, compared with 0.53% for SPD.
SVOL has the higher dividend yield at 22.19%, compared with 0.95% for SPD.
SPD is categorized as Large Cap Blend Equities, while SVOL is Volatility. Their fees differ too: 0.53% for SPD and 0.50% for SVOL.
SVOL currently has the higher Sharpe Ratio (1.05 vs 1.05), 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.
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