SPUC vs. SIXA

Last updated Jul 15, 2026

SPUC (Simplify US Equity PLUS Upside Convexity ETF) and SIXA (6 Meridian Mega Cap Equity ETF) are both Large Cap Blend Equities funds. Both are actively managed. Over the past 5 years, SPUC returned 12.89%/yr vs 12.50%/yr for SIXA. A 0.79 correlation means they provide meaningful diversification when combined. SPUC charges 0.53%/yr vs 0.86%/yr for SIXA.

Performance

SPUC vs. SIXA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify US Equity PLUS Upside Convexity ETF (SPUC) and 6 Meridian Mega Cap Equity ETF (SIXA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPUC achieves a 9.94% return, which is significantly lower than SIXA's 13.49% return.

SPUC

• 1D: 0.48%
• 1M: 2.23%
• 6M: 7.28%
• YTD: 9.94%
• 1Y: 21.71%
• 3Y*: 21.68%
• 5Y*: 12.89%
• 10Y*: —

SIXA

• 1D: -0.73%
• 1M: -0.26%
• 6M: 11.49%
• YTD: 13.49%
• 1Y: 17.81%
• 3Y*: 19.96%
• 5Y*: 12.50%
• 10Y*: —

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

SPUC vs. SIXA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SPUC Simplify US Equity PLUS Upside Convexity ETF	9.94%	22.64%	25.37%	27.50%	-24.76%	33.71%	10.62%
SIXA 6 Meridian Mega Cap Equity ETF	13.49%	15.52%	22.70%	11.98%	-5.72%	23.87%	6.60%

Correlation

The correlation between SPUC and SIXA is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Sep 4, 2020	0.79

Over the past year, the correlation between SPUC and SIXA has dropped to 0.54 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.

SPUC vs. SIXA - Sectors Allocation Comparison

Sectors	SPUC	SIXA
Technology	39.9%	19.2%
Financial Services	11.0%	7.7%
Communication Services	10.5%	13.9%
Consumer Cyclical	9.6%	3.9%
Healthcare	8.2%	14.5%
Industrials	7.7%	6.5%
Consumer Defensive	4.4%	23.2%
Energy	3.2%	4.8%
Utilities	2.0%	5.0%
Real Estate	1.8%	1.3%
Basic Materials	1.7%	-

Return for Risk

SPUC vs. SIXA — Risk / Return Rank

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

SPUC

SPUC Risk / Return Rank: 46
SPUC Sharpe Ratio Rank: 46
SPUC Sortino Ratio Rank: 43
SPUC Omega Ratio Rank: 45
SPUC Calmar Ratio Rank: 46
SPUC Martin Ratio Rank: 47

SIXA

SIXA Risk / Return Rank: 80
SIXA Sharpe Ratio Rank: 80
SIXA Sortino Ratio Rank: 85
SIXA Omega Ratio Rank: 76
SIXA Calmar Ratio Rank: 77
SIXA Martin Ratio Rank: 80

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.

SPUC vs. SIXA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS Upside Convexity ETF (SPUC) and 6 Meridian Mega Cap Equity ETF (SIXA). 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	SIXA	Difference
Sharpe ratio: Return per unit of total volatility	1.31	2.01	-0.70
Sortino ratio: Return per unit of downside risk	1.80	3.02	-1.22
Omega ratio: Gain probability vs. loss probability	1.23	1.35	-0.12
Calmar ratio: Return relative to maximum drawdown	1.89	3.20	-1.31
Martin ratio: Return relative to average drawdown	6.31	12.13	-5.83

SPUC vs. SIXA - Sharpe Ratio Comparison

The current SPUC Sharpe Ratio is 1.31, which is lower than the SIXA Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of SPUC and SIXA, 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

SPUC vs. SIXA - Drawdown Comparison

The maximum SPUC drawdown since its inception was -29.20%, which is greater than SIXA's maximum drawdown of -18.38%. Use the drawdown chart below to compare losses from any high point for SPUC and SIXA.

Drawdown Indicators

	SPUC	SIXA	Difference
Max Drawdown Largest peak-to-trough decline	-29.20%	-18.38%	-10.82%
Max Drawdown (1Y) Largest decline over 1 year	-11.56%	-5.59%	-5.97%
Max Drawdown (3Y) Largest decline over 3 years	-28.17%	-11.22%	-16.95%
Max Drawdown (5Y) Largest decline over 5 years	-29.20%	-18.38%	-10.82%
Current Drawdown Current decline from peak	-0.27%	-0.73%	+0.46%
Average Drawdown Average peak-to-trough decline	-8.35%	-2.95%	-5.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	1.47%	+1.98%

Volatility

SPUC vs. SIXA - Volatility Comparison

Simplify US Equity PLUS Upside Convexity ETF (SPUC) has a higher volatility of 3.87% compared to 6 Meridian Mega Cap Equity ETF (SIXA) at 2.35%. This indicates that SPUC's price experiences larger fluctuations and is considered to be riskier than SIXA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPUC	SIXA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	2.35%	+1.52%
Volatility (6M) Calculated over the trailing 6-month period	11.01%	6.94%	+4.07%
Volatility (1Y) Calculated over the trailing 1-year period	16.60%	8.89%	+7.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.01%	12.78%	+9.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.37%	13.28%	+8.09%

SPUC vs. SIXA - Expense Ratio Comparison

SPUC has a 0.53% expense ratio, which is lower than SIXA's 0.86% expense ratio.

Dividends

SPUC vs. SIXA - Dividend Comparison

SPUC's dividend yield for the trailing twelve months is around 10.00%, more than SIXA's 2.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
SIXA 6 Meridian Mega Cap Equity ETF	2.02%	2.31%	1.62%	2.12%	2.23%	1.63%	1.13%
SPUC Simplify US Equity PLUS Upside Convexity ETF	10.00%	7.70%	0.94%	1.33%	1.53%	2.00%	0.75%

Frequently Asked Questions

Can I hold both SPUC and SIXA in my portfolio?

SPUC and SIXA have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPUC or SIXA?

SPUC has higher volatility (3.87%) compared to SIXA (2.35%). In terms of maximum drawdown, SPUC dropped -29.20% vs SIXA's -18.38%.

Which ETF is better, SPUC or SIXA?

On 5-year performance, SPUC leads with 12.89% vs 12.50% for SIXA. On fees, SPUC is cheaper at 0.53% per year. On volatility, SIXA has been the lower-risk option at 2.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPUC or SIXA?

Over the 5-year period, SPUC has performed better with a 12.89% return vs 12.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPUC or SIXA?

SPUC is cheaper with a 0.53% expense ratio, compared with 0.86% for SIXA.

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

SPUC has the higher dividend yield at 10.00%, compared with 2.02% for SIXA.

What is the main difference between SPUC and SIXA?

They also come from different issuers: Simplify and Exchange Traded Concepts. Their fees differ too: 0.53% for SPUC and 0.86% for SIXA.

Which has better risk-adjusted returns?

SIXA currently has the higher Sharpe Ratio (2.01 vs 1.31), 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.