SVOL vs. IVOL
SVOL (Simplify Volatility Premium ETF) and IVOL (Quadratic Interest Rate Volatility & Inflation Hedge ETF) are both exchange-traded funds - SVOL is a Volatility fund actively managed by Simplify, while IVOL is a Inflation-Protected Bonds fund actively managed by CICC. Both are actively managed. Over the past 5 years, SVOL returned 6.74%/yr vs -5.59%/yr for IVOL. Their -0.05 correlation means they have often moved in opposite directions in the past. SVOL charges 0.50%/yr vs 0.99%/yr for IVOL.
Performance
SVOL vs. IVOL - Performance Comparison
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Returns By Period
In the year-to-date period, SVOL achieves a 1.56% return, which is significantly higher than IVOL's -6.85% return.
SVOL
- 1D
- 0.00%
- 1M
- 0.32%
- 6M
- 1.07%
- YTD
- 1.56%
- 1Y
- 15.39%
- 3Y*
- 5.96%
- 5Y*
- 6.74%
- 10Y*
- —
- ALL TIME*
- 7.89%
IVOL
- 1D
- 0.09%
- 1M
- 0.88%
- 6M
- -5.66%
- YTD
- -6.85%
- 1Y
- -7.05%
- 3Y*
- -2.73%
- 5Y*
- -5.59%
- 10Y*
- —
- ALL TIME*
- -1.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.61M | $1.25M | $2.09M | |
| $4.56M | $3.75M | $4.33M |
SVOL vs. IVOL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SVOL Simplify Volatility Premium ETF | 1.56% | 2.41% | 6.77% | 22.88% | -3.30% | 12.70% |
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | -6.85% | 11.97% | -11.07% | -5.18% | -12.69% | -4.53% |
Correlation
The correlation between SVOL and IVOL is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.09 |
Correlation (3Y) Balances recent behavior with more history. | -0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.06 |
Correlation (All Time) Calculated using the full available price history since May 13, 2021 | -0.05 |
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Return for Risk
SVOL vs. IVOL — Risk / Return Rank
SVOL
IVOL
SVOL vs. IVOL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Volatility Premium ETF (SVOL) and Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL). 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 | IVOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.00 | ||
| Sortino ratioReturn per unit of downside risk | +2.85 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.84 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | -0.58 | +1.93 |
| Martin ratioReturn relative to average drawdown | 3.94 | -1.12 | +5.06 |
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Drawdowns
SVOL vs. IVOL - Drawdown Comparison
The maximum SVOL drawdown since its inception was -33.50%, which is greater than IVOL's maximum drawdown of -31.16%. Use the drawdown chart below to compare losses from any high point for SVOL and IVOL.
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Drawdown Indicators
| SVOL | IVOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.50% | -31.16% | -2.34% |
Max Drawdown (1Y)Largest decline over 1 year | -11.42% | -12.17% | +0.75% |
Max Drawdown (3Y)Largest decline over 3 years | -33.50% | -14.48% | -19.02% |
Max Drawdown (5Y)Largest decline over 5 years | -33.50% | -30.07% | -3.43% |
Current DrawdownCurrent decline from peak | -1.58% | -26.75% | +25.17% |
Average DrawdownAverage peak-to-trough decline | -4.68% | -13.62% | +8.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.92% | 6.28% | -2.36% |
Volatility
SVOL vs. IVOL - Volatility Comparison
Simplify Volatility Premium ETF (SVOL) has a higher volatility of 3.99% compared to Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) at 1.71%. This indicates that SVOL's price experiences larger fluctuations and is considered to be riskier than IVOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SVOL | IVOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.99% | 1.71% | +2.28% |
Volatility (6M)Calculated over the trailing 6-month period | 9.57% | 4.92% | +4.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.06% | 6.51% | +10.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.96% | 12.85% | +9.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.73% | 11.91% | +9.82% |
SVOL vs. IVOL - Expense Ratio Comparison
SVOL has a 0.50% expense ratio, which is lower than IVOL's 0.99% expense ratio.
Dividends
SVOL vs. IVOL - Dividend Comparison
SVOL's dividend yield for the trailing twelve months is around 22.19%, more than IVOL's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | 3.86% | 3.61% | 3.83% | 3.73% | 3.92% | 3.93% | 3.44% | 2.02% |
SVOL Simplify Volatility Premium ETF | 22.19% | 19.82% | 16.79% | 16.36% | 18.32% | 4.65% | 0.00% | 0.00% |
Frequently Asked Questions
SVOL and IVOL have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SVOL has higher volatility (3.99%) compared to IVOL (1.71%). In terms of maximum drawdown, SVOL dropped -33.50% vs IVOL's -31.16%.
On 5-year performance, SVOL leads with 6.74% vs -5.59% for IVOL. On fees, SVOL is cheaper at 0.50% per year. On volatility, IVOL has been the lower-risk option at 1.71%. 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 6.74% return vs -5.59%. 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 0.99% for IVOL.
SVOL has the higher dividend yield at 22.19%, compared with 3.86% for IVOL.
SVOL is categorized as Volatility, while IVOL is Inflation-Protected Bonds. They also come from different issuers: Simplify and CICC. Their fees differ too: 0.50% for SVOL and 0.99% for IVOL.
SVOL currently has the higher Sharpe Ratio (0.91 vs -1.09), 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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