UDIV vs. HIGH
UDIV (Franklin U.S. Core Dividend Tilt Index ETF) and HIGH (Simplify Enhanced Income ETF) are both exchange-traded funds - UDIV is a Dividend fund tracking the Linked Morningstar US Dividend Enhanced Select Index, while HIGH is a Derivative Income fund actively managed by Simplify. UDIV is passively managed, while HIGH is actively managed. Over the past 3 years, UDIV returned 23.16%/yr vs 2.72%/yr for HIGH. At a 0.45 correlation, their price movements are largely independent. UDIV charges 0.06%/yr vs 0.51%/yr for HIGH.
Performance
UDIV vs. HIGH - Performance Comparison
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Returns By Period
In the year-to-date period, UDIV achieves a 12.46% return, which is significantly higher than HIGH's -0.79% return.
UDIV
- 1D
- -1.34%
- 1M
- -0.74%
- YTD
- 12.46%
- 6M
- 11.52%
- 1Y
- 28.77%
- 3Y*
- 23.16%
- 5Y*
- 13.95%
- 10Y*
- 11.60%
HIGH
- 1D
- -0.82%
- 1M
- 0.09%
- YTD
- -0.79%
- 6M
- -1.67%
- 1Y
- -1.43%
- 3Y*
- 2.72%
- 5Y*
- —
- 10Y*
- —
UDIV vs. HIGH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
UDIV Franklin U.S. Core Dividend Tilt Index ETF | 12.46% | 19.00% | 25.61% | 25.21% | 1.54% |
HIGH Simplify Enhanced Income ETF | -0.79% | 4.35% | 1.52% | 7.70% | 0.47% |
Correlation
The correlation between UDIV and HIGH is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2022 | 0.45 |
Over the past year, UDIV and HIGH have become more correlated (0.72) than their long-term average of 0.45, meaning their price movements have been converging.
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Return for Risk
UDIV vs. HIGH — Risk / Return Rank
UDIV
HIGH
UDIV vs. HIGH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin U.S. Core Dividend Tilt Index ETF (UDIV) and Simplify Enhanced Income ETF (HIGH). 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.
| UDIV | HIGH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.46 | ||
| Sortino ratioReturn per unit of downside risk | +3.25 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 0.98 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | -0.15 | +3.57 |
| Martin ratioReturn relative to average drawdown | 15.00 | -0.21 | +15.21 |
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Drawdowns
UDIV vs. HIGH - Drawdown Comparison
The maximum UDIV drawdown since its inception was -35.21%, which is greater than HIGH's maximum drawdown of -9.50%. Use the drawdown chart below to compare losses from any high point for UDIV and HIGH.
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Drawdown Indicators
| UDIV | HIGH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.21% | -9.50% | -25.71% |
Max Drawdown (1Y)Largest decline over 1 year | -8.44% | -9.50% | +1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -19.19% | -9.50% | -9.69% |
Max Drawdown (5Y)Largest decline over 5 years | -23.18% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.21% | — | — |
Current DrawdownCurrent decline from peak | -2.88% | -7.50% | +4.62% |
Average DrawdownAverage peak-to-trough decline | -4.63% | -2.44% | -2.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 6.73% | -4.81% |
Volatility
UDIV vs. HIGH - Volatility Comparison
Franklin U.S. Core Dividend Tilt Index ETF (UDIV) has a higher volatility of 4.96% compared to Simplify Enhanced Income ETF (HIGH) at 1.91%. This indicates that UDIV's price experiences larger fluctuations and is considered to be riskier than HIGH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UDIV | HIGH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.96% | 1.91% | +3.05% |
Volatility (6M)Calculated over the trailing 6-month period | 9.91% | 3.81% | +6.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.60% | 8.79% | +3.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.62% | 9.53% | +6.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.30% | 9.53% | +6.77% |
UDIV vs. HIGH - Expense Ratio Comparison
UDIV has a 0.06% expense ratio, which is lower than HIGH's 0.51% expense ratio.
Dividends
UDIV vs. HIGH - Dividend Comparison
UDIV's dividend yield for the trailing twelve months is around 1.12%, less than HIGH's 7.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HIGH Simplify Enhanced Income ETF | 7.36% | 7.71% | 8.34% | 9.40% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UDIV Franklin U.S. Core Dividend Tilt Index ETF | 1.12% | 1.53% | 2.05% | 1.91% | 3.20% | 2.97% | 2.90% | 3.40% | 3.74% | 3.47% | 1.63% |
Frequently Asked Questions
UDIV and HIGH have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UDIV has higher volatility (4.96%) compared to HIGH (1.91%). In terms of maximum drawdown, UDIV dropped -35.21% vs HIGH's -9.50%.
On 3-year performance, UDIV leads with 23.16% vs 2.72% for HIGH. On fees, UDIV is cheaper at 0.06% per year. On volatility, HIGH has been the lower-risk option at 1.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, UDIV has performed better with a 23.16% return vs 2.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UDIV is cheaper with a 0.06% expense ratio, compared with 0.51% for HIGH.
HIGH has the higher dividend yield at 7.36%, compared with 1.12% for UDIV.
UDIV is categorized as Dividend, while HIGH is Derivative Income. They also come from different issuers: Franklin Templeton and Simplify. Their fees differ too: 0.06% for UDIV and 0.51% for HIGH.
UDIV currently has the higher Sharpe Ratio (2.30 vs -0.16), 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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