SPDG vs. HIGH

Last updated Aug 4, 2026

SPDG (SPDR Portfolio S&P Sector Neutral Dividend ETF) and HIGH (Simplify Enhanced Income ETF) are both exchange-traded funds - SPDG is a Dividend fund tracking the S&P Sector-Neutral High Yield Dividend Aristocrats Index, while HIGH is a Derivative Income fund actively managed by Simplify. SPDG is passively managed, while HIGH is actively managed. Over the past year, SPDG returned 25.12% vs -0.12% for HIGH. Their 0.38 correlation means their historical movements had little consistent relationship. SPDG charges 0.05%/yr vs 0.50%/yr for HIGH.

Performance

SPDG vs. HIGH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG) and Simplify Enhanced Income ETF (HIGH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPDG achieves a 14.79% return, which is significantly higher than HIGH's 0.14% return.

SPDG

• 1D: 0.49%
• 1M: -0.29%
• 6M: 6.75%
• YTD: 14.79%
• 1Y: 25.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.30%

HIGH

• 1D: 1.15%
• 1M: 0.70%
• 6M: 0.59%
• YTD: 0.14%
• 1Y: -0.12%
• 3Y*: 2.88%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.73%

*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)
HIGH Simplify Enhanced Income ETF	$241.27K	$246.12K	$538.64K
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	$47.62K	$41.21K	$36.93K

SPDG vs. HIGH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	14.79%	11.66%	20.22%	8.09%
HIGH Simplify Enhanced Income ETF	0.14%	4.35%	1.52%	1.33%

Correlation

The correlation between SPDG and HIGH is 0.46, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.46
Correlation (All Time) Calculated using the full available price history since Sep 12, 2023	0.38

Return for Risk

SPDG vs. HIGH — Risk / Return Rank

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

SPDG

SPDG Risk / Return Rank: 82
SPDG Sharpe Ratio Rank: 84
SPDG Sortino Ratio Rank: 85
SPDG Omega Ratio Rank: 82
SPDG Calmar Ratio Rank: 81
SPDG Martin Ratio Rank: 76

HIGH

HIGH Risk / Return Rank: 10
HIGH Sharpe Ratio Rank: 11
HIGH Sortino Ratio Rank: 10
HIGH Omega Ratio Rank: 10
HIGH Calmar Ratio Rank: 11
HIGH Martin Ratio Rank: 11

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.

SPDG vs. HIGH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG) and Simplify Enhanced Income ETF (HIGH). 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.

	SPDG	HIGH	Difference
Sharpe ratio: Return per unit of total volatility	2.03	-0.02	+2.05
Sortino ratio: Return per unit of downside risk	2.91	0.03	+2.87
Omega ratio: Gain probability vs. loss probability	1.36	1.00	+0.35
Calmar ratio: Return relative to maximum drawdown	3.03	-0.02	+3.04
Martin ratio: Return relative to average drawdown	9.88	-0.03	+9.91

SPDG vs. HIGH - Sharpe Ratio Comparison

The current SPDG Sharpe Ratio is 2.03, which is higher than the HIGH Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of SPDG and HIGH, 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

SPDG vs. HIGH - Drawdown Comparison

The maximum SPDG drawdown since its inception was -15.67%, which is greater than HIGH's maximum drawdown of -9.50%. Use the drawdown chart below to compare losses from any high point for SPDG and HIGH.

Drawdown Indicators

	SPDG	HIGH	Difference
Max Drawdown Largest peak-to-trough decline	-15.67%	-9.50%	-6.17%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-7.08%	-1.26%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.50%	—
Current Drawdown Current decline from peak	-2.29%	-6.63%	+4.34%
Average Drawdown Average peak-to-trough decline	-2.19%	-2.59%	+0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.55%	4.47%	-1.92%

Volatility

SPDG vs. HIGH - Volatility Comparison

SPDR Portfolio S&P Sector Neutral Dividend ETF (SPDG) has a higher volatility of 3.53% compared to Simplify Enhanced Income ETF (HIGH) at 2.43%. This indicates that SPDG's price experiences larger fluctuations and is considered to be riskier than HIGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPDG	HIGH	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	2.43%	+1.10%
Volatility (6M) Calculated over the trailing 6-month period	9.54%	4.03%	+5.51%
Volatility (1Y) Calculated over the trailing 1-year period	12.45%	7.31%	+5.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.10%	9.48%	+4.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.10%	9.48%	+4.62%

SPDG vs. HIGH - Expense Ratio Comparison

SPDG has a 0.05% expense ratio, which is lower than HIGH's 0.50% expense ratio.

Dividends

SPDG vs. HIGH - Dividend Comparison

SPDG's dividend yield for the trailing twelve months is around 2.71%, less than HIGH's 6.81% yield.

Position	TTM	2025	2024	2023	2022
HIGH Simplify Enhanced Income ETF	6.81%	7.71%	8.34%	9.40%	0.62%
SPDG SPDR Portfolio S&P Sector Neutral Dividend ETF	2.71%	2.87%	2.61%	0.90%	0.00%

Frequently Asked Questions

Can I hold both SPDG and HIGH in my portfolio?

SPDG and HIGH have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPDG or HIGH?

SPDG has higher volatility (3.53%) compared to HIGH (2.43%). In terms of maximum drawdown, SPDG dropped -15.67% vs HIGH's -9.50%.

Which ETF is better, SPDG or HIGH?

On 1-year performance, SPDG leads with 25.12% vs -0.12% for HIGH. On fees, SPDG is cheaper at 0.05% per year. On volatility, HIGH has been the lower-risk option at 2.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPDG or HIGH?

Over the 1-year period, SPDG has performed better with a 25.12% return vs -0.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPDG or HIGH?

SPDG is cheaper with a 0.05% expense ratio, compared with 0.50% for HIGH.

Which ETF pays a higher dividend yield, SPDG or HIGH?

HIGH has the higher dividend yield at 6.81%, compared with 2.71% for SPDG.

What is the main difference between SPDG and HIGH?

SPDG is categorized as Dividend, while HIGH is Derivative Income. They also come from different issuers: State Street and Simplify. Their fees differ too: 0.05% for SPDG and 0.50% for HIGH.

Which has better risk-adjusted returns?

SPDG currently has the higher Sharpe Ratio (2.03 vs -0.02), 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.