TEND vs. HEQT
TEND (iShares Large Cap 10% Target Buffer Dec ETF) and HEQT (Simplify Hedged Equity ETF) are both exchange-traded funds - TEND is a Defined Outcome fund actively managed by BlackRock, while HEQT is a Equity Hedged fund actively managed by Simplify. Both are actively managed. Their correlation of 0.89 suggests significant overlap in exposure. TEND charges 0.50%/yr vs 0.43%/yr for HEQT.
Performance
TEND vs. HEQT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TEND achieves a 7.70% return, which is significantly higher than HEQT's 5.75% return.
TEND
- 1D
- -0.17%
- 1M
- 0.77%
- 6M
- 6.84%
- YTD
- 7.70%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HEQT
- 1D
- -0.32%
- 1M
- 0.52%
- 6M
- 4.65%
- YTD
- 5.75%
- 1Y
- 12.71%
- 3Y*
- 12.91%
- 5Y*
- —
- 10Y*
- —
TEND vs. HEQT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TEND iShares Large Cap 10% Target Buffer Dec ETF | 7.70% | 1.62% |
HEQT Simplify Hedged Equity ETF | 5.75% | 2.74% |
Correlation
The correlation between TEND and HEQT is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 8, 2025 | 0.89 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TEND vs. HEQT — Risk / Return Rank
TEND
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HEQT
TEND vs. HEQT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap 10% Target Buffer Dec ETF (TEND) and Simplify Hedged Equity ETF (HEQT). 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.
| TEND | HEQT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.38 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.51 | — |
| Martin ratioReturn relative to average drawdown | — | 11.26 | — |
Loading charts...
Drawdowns
TEND vs. HEQT - Drawdown Comparison
The maximum TEND drawdown since its inception was -5.92%, smaller than the maximum HEQT drawdown of -11.51%. Use the drawdown chart below to compare losses from any high point for TEND and HEQT.
Loading charts...
Drawdown Indicators
| TEND | HEQT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.92% | -11.51% | +5.59% |
Max Drawdown (1Y)Largest decline over 1 year | — | -5.09% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -10.57% | — |
Current DrawdownCurrent decline from peak | -0.18% | -0.32% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -0.74% | -2.73% | +1.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.13% | — |
Volatility
TEND vs. HEQT - Volatility Comparison
Loading charts...
Volatility by Period
| TEND | HEQT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.76% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 5.53% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 8.11% | 6.70% | +1.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.11% | 8.44% | -0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.11% | 8.44% | -0.33% |
TEND vs. HEQT - Expense Ratio Comparison
TEND has a 0.50% expense ratio, which is higher than HEQT's 0.43% expense ratio.
Dividends
TEND vs. HEQT - Dividend Comparison
TEND's dividend yield for the trailing twelve months is around 0.13%, less than HEQT's 1.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
HEQT Simplify Hedged Equity ETF | 1.19% | 1.19% | 1.29% | 4.10% | 3.94% | 0.27% |
TEND iShares Large Cap 10% Target Buffer Dec ETF | 0.13% | 0.14% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TEND and HEQT have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HEQT is cheaper at 0.43% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HEQT is cheaper with a 0.43% expense ratio, compared with 0.50% for TEND.
HEQT has the higher dividend yield at 1.19%, compared with 0.13% for TEND.
TEND is categorized as Defined Outcome, while HEQT is Equity Hedged. They also come from different issuers: BlackRock and Simplify. Their fees differ too: 0.50% for TEND and 0.43% for HEQT.
Find the right allocation for TEND and HEQT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer