SURI vs. CDX
SURI (Simplify Propel Opportunities ETF) and CDX (Simplify High Yield PLUS Credit Hedge ETF) are both exchange-traded funds - SURI is a Health & Biotech Equities fund actively managed by Simplify, while CDX is a High Yield Bonds fund actively managed by Simplify. Both are actively managed. Over the past 3 years, SURI returned 6.84%/yr vs 7.96%/yr for CDX. At a 0.13 correlation, their price movements are largely independent. SURI charges 2.51%/yr vs 0.26%/yr for CDX.
Performance
SURI vs. CDX - Performance Comparison
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Returns By Period
In the year-to-date period, SURI achieves a 8.27% return, which is significantly higher than CDX's -1.51% return.
SURI
- 1D
- 1.33%
- 1M
- -2.24%
- YTD
- 8.27%
- 6M
- 9.05%
- 1Y
- 27.88%
- 3Y*
- 6.84%
- 5Y*
- —
- 10Y*
- —
CDX
- 1D
- 0.00%
- 1M
- 0.19%
- YTD
- -1.51%
- 6M
- -1.29%
- 1Y
- -1.35%
- 3Y*
- 7.96%
- 5Y*
- —
- 10Y*
- —
SURI vs. CDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SURI Simplify Propel Opportunities ETF | 8.27% | 28.32% | -13.34% | -2.87% |
CDX Simplify High Yield PLUS Credit Hedge ETF | -1.51% | 9.51% | 7.71% | 10.51% |
Correlation
The correlation between SURI and CDX is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2023 | 0.13 |
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Return for Risk
SURI vs. CDX — Risk / Return Rank
SURI
CDX
SURI vs. CDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Propel Opportunities ETF (SURI) and Simplify High Yield PLUS Credit Hedge ETF (CDX). 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.
| SURI | CDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.48 | ||
| Sortino ratioReturn per unit of downside risk | +2.09 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.97 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | -0.32 | +2.70 |
| Martin ratioReturn relative to average drawdown | 6.30 | -0.71 | +7.01 |
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Drawdowns
SURI vs. CDX - Drawdown Comparison
The maximum SURI drawdown since its inception was -47.76%, which is greater than CDX's maximum drawdown of -13.24%. Use the drawdown chart below to compare losses from any high point for SURI and CDX.
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Drawdown Indicators
| SURI | CDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.76% | -13.24% | -34.52% |
Max Drawdown (1Y)Largest decline over 1 year | -11.78% | -4.18% | -7.60% |
Max Drawdown (3Y)Largest decline over 3 years | -47.76% | -8.88% | -38.88% |
Current DrawdownCurrent decline from peak | -15.77% | -6.53% | -9.24% |
Average DrawdownAverage peak-to-trough decline | -17.33% | -4.36% | -12.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.44% | 1.90% | +2.54% |
Volatility
SURI vs. CDX - Volatility Comparison
Simplify Propel Opportunities ETF (SURI) has a higher volatility of 5.90% compared to Simplify High Yield PLUS Credit Hedge ETF (CDX) at 1.58%. This indicates that SURI's price experiences larger fluctuations and is considered to be riskier than CDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SURI | CDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | 1.58% | +4.32% |
Volatility (6M)Calculated over the trailing 6-month period | 14.21% | 4.83% | +9.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.48% | 5.78% | +16.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.16% | 11.05% | +17.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.16% | 11.05% | +17.11% |
SURI vs. CDX - Expense Ratio Comparison
SURI has a 2.51% expense ratio, which is higher than CDX's 0.26% expense ratio.
Dividends
SURI vs. CDX - Dividend Comparison
SURI's dividend yield for the trailing twelve months is around 15.72%, more than CDX's 8.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CDX Simplify High Yield PLUS Credit Hedge ETF | 8.29% | 7.18% | 12.60% | 5.26% | 7.51% |
SURI Simplify Propel Opportunities ETF | 15.72% | 16.31% | 21.41% | 14.71% | 0.00% |
Frequently Asked Questions
SURI and CDX have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SURI has higher volatility (5.90%) compared to CDX (1.58%). In terms of maximum drawdown, SURI dropped -47.76% vs CDX's -13.24%.
On 3-year performance, CDX leads with 7.96% vs 6.84% for SURI. On fees, CDX is cheaper at 0.26% per year. On volatility, CDX has been the lower-risk option at 1.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CDX has performed better with a 7.96% return vs 6.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CDX is cheaper with a 0.26% expense ratio, compared with 2.51% for SURI.
SURI has the higher dividend yield at 15.72%, compared with 8.29% for CDX.
SURI is categorized as Health & Biotech Equities, while CDX is High Yield Bonds. Their fees differ too: 2.51% for SURI and 0.26% for CDX.
SURI currently has the higher Sharpe Ratio (1.25 vs -0.23), 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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