SPUC vs. GXLC

Last updated Aug 4, 2026

SPUC (Simplify US Equity PLUS Upside Convexity ETF) and GXLC (Global X U.S. 500 ETF) are both Large Cap Blend Equities funds. SPUC is actively managed, while GXLC is passively managed. Their 0.96 correlation means they have historically moved very closely together. SPUC charges 0.53%/yr vs 0.02%/yr for GXLC.

Performance

SPUC vs. GXLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify US Equity PLUS Upside Convexity ETF (SPUC) and Global X U.S. 500 ETF (GXLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPUC achieves a 10.82% return, which is significantly lower than GXLC's 11.54% return.

SPUC

• 1D: 0.83%
• 1M: 1.91%
• 6M: 8.10%
• YTD: 10.82%
• 1Y: 22.91%
• 3Y*: 22.30%
• 5Y*: 12.76%
• 10Y*: —
• ALL TIME*: 16.11%

GXLC

• 1D: 1.34%
• 1M: 1.54%
• 6M: 9.67%
• YTD: 11.54%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
GXLC Global X U.S. 500 ETF	$25.69K	$21.89K	$18.29K
SPUC Simplify US Equity PLUS Upside Convexity ETF	$22.58M	$10.85M	$4.02M

SPUC vs. GXLC - Yearly Performance Comparison

	2026 (YTD)	2025
SPUC Simplify US Equity PLUS Upside Convexity ETF	10.82%	-0.12%
GXLC Global X U.S. 500 ETF	11.54%	3.22%

Correlation

The correlation between SPUC and GXLC is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025	0.96

Return for Risk

SPUC vs. GXLC — Risk / Return Rank

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

SPUC

SPUC Risk / Return Rank: 53
SPUC Sharpe Ratio Rank: 54
SPUC Sortino Ratio Rank: 51
SPUC Omega Ratio Rank: 52
SPUC Calmar Ratio Rank: 54
SPUC Martin Ratio Rank: 54

GXLC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

SPUC vs. GXLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS Upside Convexity ETF (SPUC) and Global X U.S. 500 ETF (GXLC). 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.

	SPUC	GXLC	Difference
Sharpe ratio: Return per unit of total volatility	1.38	—	—
Sortino ratio: Return per unit of downside risk	1.88	—	—
Omega ratio: Gain probability vs. loss probability	1.24	—	—
Calmar ratio: Return relative to maximum drawdown	1.99	—	—
Martin ratio: Return relative to average drawdown	6.65	—	—

Drawdowns

SPUC vs. GXLC - Drawdown Comparison

The maximum SPUC drawdown since its inception was -29.20%, which is greater than GXLC's maximum drawdown of -9.08%. Use the drawdown chart below to compare losses from any high point for SPUC and GXLC.

Drawdown Indicators

	SPUC	GXLC	Difference
Max Drawdown Largest peak-to-trough decline	-29.20%	-9.08%	-20.12%
Max Drawdown (1Y) Largest decline over 1 year	-11.56%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-28.17%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.20%	—	—
Current Drawdown Current decline from peak	0.00%	-0.16%	+0.16%
Average Drawdown Average peak-to-trough decline	-8.28%	-1.57%	-6.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	—	—

Volatility

Volatility by Period

	SPUC	GXLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.14%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.95%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.76%	13.64%	+3.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.96%	13.64%	+8.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.33%	13.64%	+7.69%

SPUC vs. GXLC - Expense Ratio Comparison

SPUC has a 0.53% expense ratio, which is higher than GXLC's 0.02% expense ratio.

Dividends

SPUC vs. GXLC - Dividend Comparison

SPUC's dividend yield for the trailing twelve months is around 10.99%, more than GXLC's 0.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
GXLC Global X U.S. 500 ETF	0.63%	0.30%	0.00%	0.00%	0.00%	0.00%	0.00%
SPUC Simplify US Equity PLUS Upside Convexity ETF	10.99%	7.70%	0.94%	1.33%	1.53%	2.00%	0.75%

Frequently Asked Questions

Can I hold both SPUC and GXLC in my portfolio?

With a correlation of 0.96, SPUC and GXLC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, SPUC or GXLC?

On fees, GXLC is cheaper at 0.02% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPUC or GXLC?

GXLC is cheaper with a 0.02% expense ratio, compared with 0.53% for SPUC.

Which ETF pays a higher dividend yield, SPUC or GXLC?

SPUC has the higher dividend yield at 10.99%, compared with 0.63% for GXLC.

What is the main difference between SPUC and GXLC?

They also come from different issuers: Simplify and Global X. Their fees differ too: 0.53% for SPUC and 0.02% for GXLC.