SVOL vs. IVOL

Last updated Jun 26, 2026

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 6.13%/yr vs -5.61%/yr for IVOL. At a correlation of -0.05, they often move in opposite directions. SVOL charges 0.50%/yr vs 0.99%/yr for IVOL.

Performance

SVOL vs. IVOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Volatility Premium ETF (SVOL) and Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SVOL achieves a -0.41% return, which is significantly higher than IVOL's -8.02% return.

SVOL

• 1D: -0.38%
• 1M: 0.56%
• YTD: -0.41%
• 6M: -0.81%
• 1Y: 14.08%
• 3Y*: 5.71%
• 5Y*: 6.13%
• 10Y*: —

IVOL

• 1D: 0.12%
• 1M: -2.62%
• YTD: -8.02%
• 6M: -7.41%
• 1Y: -7.56%
• 3Y*: -2.73%
• 5Y*: -5.61%
• 10Y*: —

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

SVOL vs. IVOL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SVOL Simplify Volatility Premium ETF	-0.41%	2.41%	6.77%	22.88%	-3.30%	12.70%
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF	-8.02%	11.97%	-11.07%	-5.18%	-12.69%	-4.53%

Correlation

The correlation between SVOL and IVOL is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	-0.10
Correlation (5Y) Calculated over the trailing 5-year period	-0.05
Correlation (All Time) Calculated using the full available price history since May 13, 2021	-0.05

Return for Risk

SVOL vs. IVOL — Risk / Return Rank

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

SVOL

SVOL Risk / Return Rank: 23
SVOL Sharpe Ratio Rank: 22
SVOL Sortino Ratio Rank: 21
SVOL Omega Ratio Rank: 24
SVOL Calmar Ratio Rank: 25
SVOL Martin Ratio Rank: 23

IVOL

IVOL Risk / Return Rank: 2
IVOL Sharpe Ratio Rank: 1
IVOL Sortino Ratio Rank: 2
IVOL Omega Ratio Rank: 2
IVOL Calmar Ratio Rank: 4
IVOL Martin Ratio Rank: 1

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.

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 ratio: Return per unit of total volatility	0.70	-1.08	+1.78
Sortino ratio: Return per unit of downside risk	1.10	-1.50	+2.59
Omega ratio: Gain probability vs. loss probability	1.15	0.83	+0.32
Calmar ratio: Return relative to maximum drawdown	1.09	-0.63	+1.72
Martin ratio: Return relative to average drawdown	2.59	-1.49	+4.08

SVOL vs. IVOL - Sharpe Ratio Comparison

The current SVOL Sharpe Ratio is 0.70, which is higher than the IVOL Sharpe Ratio of -1.08. The chart below compares the historical Sharpe Ratios of SVOL and IVOL, 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

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.

Drawdown Indicators

	SVOL	IVOL	Difference
Max Drawdown Largest peak-to-trough decline	-33.50%	-31.16%	-2.34%
Max Drawdown (1Y) Largest decline over 1 year	-13.01%	-12.08%	-0.93%
Max Drawdown (3Y) Largest decline over 3 years	-33.50%	-14.48%	-19.02%
Max Drawdown (5Y) Largest decline over 5 years	-33.50%	-30.28%	-3.22%
Current Drawdown Current decline from peak	-2.98%	-27.66%	+24.68%
Average Drawdown Average peak-to-trough decline	-4.75%	-13.41%	+8.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.45%	5.10%	+0.35%

Volatility

SVOL vs. IVOL - Volatility Comparison

Simplify Volatility Premium ETF (SVOL) has a higher volatility of 4.41% compared to Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) at 2.56%. 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.

Volatility by Period

	SVOL	IVOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	2.56%	+1.85%
Volatility (6M) Calculated over the trailing 6-month period	10.15%	4.98%	+5.17%
Volatility (1Y) Calculated over the trailing 1-year period	20.13%	7.02%	+13.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.02%	12.84%	+9.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.87%	11.97%	+9.90%

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 22.36%, more than IVOL's 3.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF	3.97%	3.61%	3.83%	3.73%	3.92%	3.93%	3.44%	2.02%
SVOL Simplify Volatility Premium ETF	22.36%	19.82%	16.79%	16.36%	18.32%	4.65%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SVOL and IVOL in my portfolio?

SVOL and IVOL have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SVOL or IVOL?

SVOL has higher volatility (4.41%) compared to IVOL (2.56%). In terms of maximum drawdown, SVOL dropped -33.50% vs IVOL's -31.16%.

Which ETF is better, SVOL or IVOL?

On 5-year performance, SVOL leads with 6.13% vs -5.61% for IVOL. On fees, SVOL is cheaper at 0.50% per year. On volatility, IVOL has been the lower-risk option at 2.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SVOL or IVOL?

Over the 5-year period, SVOL has performed better with a 6.13% return vs -5.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SVOL or IVOL?

SVOL is cheaper with a 0.50% expense ratio, compared with 0.99% for IVOL.

Which ETF pays a higher dividend yield, SVOL or IVOL?

SVOL has the higher dividend yield at 22.36%, compared with 3.97% for IVOL.

What is the main difference between SVOL and 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.

Which has better risk-adjusted returns?

SVOL currently has the higher Sharpe Ratio (0.70 vs -1.08), 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.