TOAK vs. DINE

Last updated Jul 17, 2026

TOAK (Twin Oak Short Horizon Absolute Return ETF) and DINE (Simplify Tax Aware Diversified Income Strategy ETF) are both Multistrategy funds. Both are actively managed. At a 0.06 correlation, their price movements are largely independent. TOAK charges 0.25%/yr vs 0.15%/yr for DINE.

Performance

TOAK vs. DINE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Twin Oak Short Horizon Absolute Return ETF (TOAK) and Simplify Tax Aware Diversified Income Strategy ETF (DINE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TOAK

• 1D: 0.45%
• 1M: 0.69%
• 6M: 2.00%
• YTD: 2.15%
• 1Y: 4.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DINE

• 1D: -0.16%
• 1M: 0.80%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TOAK vs. DINE - Yearly Performance Comparison

	2026 (YTD)
TOAK Twin Oak Short Horizon Absolute Return ETF	1.06%
DINE Simplify Tax Aware Diversified Income Strategy ETF	1.28%

Correlation

The correlation between TOAK and DINE is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 5, 2026	0.06

Return for Risk

TOAK vs. DINE — Risk / Return Rank

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

TOAK

TOAK Risk / Return Rank: 60
TOAK Sharpe Ratio Rank: 49
TOAK Sortino Ratio Rank: 52
TOAK Omega Ratio Rank: 97
TOAK Calmar Ratio Rank: 57
TOAK Martin Ratio Rank: 46

DINE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

TOAK vs. DINE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Twin Oak Short Horizon Absolute Return ETF (TOAK) and Simplify Tax Aware Diversified Income Strategy ETF (DINE). 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.

	TOAK	DINE	Difference
Sharpe ratio: Return per unit of total volatility	1.39	—	—
Sortino ratio: Return per unit of downside risk	2.08	—	—
Omega ratio: Gain probability vs. loss probability	1.84	—	—
Calmar ratio: Return relative to maximum drawdown	2.27	—	—
Martin ratio: Return relative to average drawdown	6.04	—	—

Drawdowns

TOAK vs. DINE - Drawdown Comparison

The maximum TOAK drawdown since its inception was -1.81%, which is greater than DINE's maximum drawdown of -1.23%. Use the drawdown chart below to compare losses from any high point for TOAK and DINE.

Drawdown Indicators

	TOAK	DINE	Difference
Max Drawdown Largest peak-to-trough decline	-1.81%	-1.23%	-0.58%
Max Drawdown (1Y) Largest decline over 1 year	-1.81%	—	—
Current Drawdown Current decline from peak	-0.92%	-0.49%	-0.43%
Average Drawdown Average peak-to-trough decline	-0.19%	-0.27%	+0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	—	—

Volatility

Volatility by Period

	TOAK	DINE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.48%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.75%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.95%	4.20%	-1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.18%	4.20%	-2.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.18%	4.20%	-2.02%

TOAK vs. DINE - Expense Ratio Comparison

TOAK has a 0.25% expense ratio, which is higher than DINE's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

TOAK vs. DINE - Dividend Comparison

TOAK has not paid dividends to shareholders, while DINE's dividend yield for the trailing twelve months is around 0.20%.

Position	TTM
DINE Simplify Tax Aware Diversified Income Strategy ETF	0.20%
TOAK Twin Oak Short Horizon Absolute Return ETF	0.00%

Frequently Asked Questions

Can I hold both TOAK and DINE in my portfolio?

TOAK and DINE have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TOAK or DINE?

On fees, DINE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TOAK or DINE?

DINE is cheaper with a 0.15% expense ratio, compared with 0.25% for TOAK.

Which ETF pays a higher dividend yield, TOAK or DINE?

DINE has the higher dividend yield at 0.20%, compared with 0.00% for TOAK.

What is the main difference between TOAK and DINE?

They also come from different issuers: Twin Oak and Simplify. Their fees differ too: 0.25% for TOAK and 0.15% for DINE.