SVOL vs. HYS
SVOL (Simplify Volatility Premium ETF) and HYS (PIMCO 0-5 Year High Yield Corporate Bond Index ETF) are both exchange-traded funds - SVOL is a Volatility fund actively managed by Simplify, while HYS is a High Yield Bonds fund tracking the ICE BofA 0-5 Year US High Yield Constrained Index. SVOL is actively managed, while HYS is passively managed. Over the past 5 years, SVOL returned 6.94%/yr vs 5.03%/yr for HYS. Their 0.55 correlation means they have sometimes moved together and sometimes differently. SVOL charges 0.50%/yr vs 0.56%/yr for HYS.
Performance
SVOL vs. HYS - Performance Comparison
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Returns By Period
In the year-to-date period, SVOL achieves a 1.82% return, which is significantly higher than HYS's 1.42% return.
SVOL
- 1D
- 1.15%
- 1M
- 0.58%
- 6M
- 0.98%
- YTD
- 1.82%
- 1Y
- 18.14%
- 3Y*
- 5.94%
- 5Y*
- 6.94%
- 10Y*
- —
- ALL TIME*
- 7.96%
HYS
- 1D
- 0.06%
- 1M
- -0.28%
- 6M
- 1.03%
- YTD
- 1.42%
- 1Y
- 5.05%
- 3Y*
- 8.13%
- 5Y*
- 5.03%
- 10Y*
- 5.19%
- ALL TIME*
- 4.99%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.07M | $9.33M | $11.19M | |
| $4.50M | $3.83M | $4.52M |
SVOL vs. HYS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SVOL Simplify Volatility Premium ETF | 1.82% | 2.41% | 6.77% | 22.88% | -3.30% | 12.70% |
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF | 1.42% | 8.80% | 8.42% | 11.38% | -5.42% | 2.70% |
Correlation
The correlation between SVOL and HYS is 0.57, 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. | 0.57 |
Correlation (3Y) Balances recent behavior with more history. | 0.57 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.55 |
Correlation (All Time) Calculated using the full available price history since May 13, 2021 | 0.55 |
The correlation between SVOL and HYS has been stable across timeframes, ranging from 0.55 to 0.57 - a consistent structural relationship.
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Return for Risk
SVOL vs. HYS — Risk / Return Rank
SVOL
HYS
SVOL vs. HYS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Volatility Premium ETF (SVOL) and PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS). 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.
| SVOL | HYS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.29 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | 2.76 | -1.39 |
| Martin ratioReturn relative to average drawdown | 4.00 | 10.85 | -6.86 |
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Drawdowns
SVOL vs. HYS - Drawdown Comparison
The maximum SVOL drawdown since its inception was -33.50%, which is greater than HYS's maximum drawdown of -20.91%. Use the drawdown chart below to compare losses from any high point for SVOL and HYS.
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Drawdown Indicators
| SVOL | HYS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.50% | -20.91% | -12.59% |
Max Drawdown (1Y)Largest decline over 1 year | -11.42% | -1.88% | -9.54% |
Max Drawdown (3Y)Largest decline over 3 years | -33.50% | -4.98% | -28.52% |
Max Drawdown (5Y)Largest decline over 5 years | -33.50% | -10.61% | -22.89% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.91% | — |
Current DrawdownCurrent decline from peak | -1.33% | -0.53% | -0.80% |
Average DrawdownAverage peak-to-trough decline | -4.68% | -1.52% | -3.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.92% | 0.48% | +3.44% |
Volatility
SVOL vs. HYS - Volatility Comparison
Simplify Volatility Premium ETF (SVOL) has a higher volatility of 4.16% compared to PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS) at 0.76%. This indicates that SVOL's price experiences larger fluctuations and is considered to be riskier than HYS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SVOL | HYS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.16% | 0.76% | +3.40% |
Volatility (6M)Calculated over the trailing 6-month period | 9.66% | 2.80% | +6.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.23% | 3.39% | +13.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.96% | 6.26% | +15.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.74% | 6.78% | +14.96% |
SVOL vs. HYS - Expense Ratio Comparison
SVOL has a 0.50% expense ratio, which is lower than HYS's 0.56% expense ratio.
Dividends
SVOL vs. HYS - Dividend Comparison
SVOL's dividend yield for the trailing twelve months is around 22.14%, more than HYS's 7.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF | 6.87% | 7.20% | 7.43% | 6.44% | 5.01% | 3.74% | 4.52% | 4.98% | 4.64% | 5.01% | 5.13% | 5.22% |
SVOL Simplify Volatility Premium ETF | 22.14% | 19.82% | 16.79% | 16.36% | 18.32% | 4.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SVOL and HYS have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SVOL has higher volatility (4.16%) compared to HYS (0.76%). In terms of maximum drawdown, SVOL dropped -33.50% vs HYS's -20.91%.
On 5-year performance, SVOL leads with 6.94% vs 5.03% for HYS. On fees, SVOL is cheaper at 0.50% per year. On volatility, HYS has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SVOL has performed better with a 6.94% return vs 5.03%. 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 0.56% for HYS.
SVOL has the higher dividend yield at 22.14%, compared with 6.87% for HYS.
SVOL is categorized as Volatility, while HYS is High Yield Bonds. They also come from different issuers: Simplify and PIMCO. Their fees differ too: 0.50% for SVOL and 0.56% for HYS.
HYS currently has the higher Sharpe Ratio (1.53 vs 0.91), 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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