VPC vs. PFIX
VPC (Virtus Private Credit ETF) and PFIX (Simplify Interest Rate Hedge ETF) are both exchange-traded funds - VPC is a Nontraditional Bonds fund tracking the Indxx Private Credit Index, while PFIX is a Inverse Bonds fund actively managed by Simplify. VPC is passively managed, while PFIX is actively managed. Over the past 5 years, VPC returned 0.87%/yr vs 23.20%/yr for PFIX. Their -0.11 correlation means they have often moved in opposite directions in the past. VPC charges 0.75%/yr vs 0.50%/yr for PFIX.
Performance
VPC vs. PFIX - Performance Comparison
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Returns By Period
In the year-to-date period, VPC achieves a -11.53% return, which is significantly lower than PFIX's 10.66% return.
VPC
- 1D
- 0.17%
- 1M
- -1.53%
- 6M
- -11.08%
- YTD
- -11.53%
- 1Y
- -16.30%
- 3Y*
- -1.29%
- 5Y*
- 0.87%
- 10Y*
- —
- ALL TIME*
- 3.63%
PFIX
- 1D
- 3.06%
- 1M
- 17.72%
- 6M
- 11.49%
- YTD
- 10.66%
- 1Y
- 7.25%
- 3Y*
- 17.57%
- 5Y*
- 23.20%
- 10Y*
- —
- ALL TIME*
- 17.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.29M | $5.62M | $16.95M | |
| $87.07K | $126.50K | $156.13K |
VPC vs. PFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VPC Virtus Private Credit ETF | -11.53% | -6.75% | 10.52% | 22.20% | -11.70% | 8.36% |
PFIX Simplify Interest Rate Hedge ETF | 10.66% | 0.42% | 35.94% | 5.67% | 92.05% | -24.98% |
Correlation
The correlation between VPC and PFIX is -0.17, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.17 |
Correlation (3Y) Balances recent behavior with more history. | -0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.12 |
Correlation (All Time) Calculated using the full available price history since May 11, 2021 | -0.11 |
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Return for Risk
VPC vs. PFIX — Risk / Return Rank
VPC
PFIX
VPC vs. PFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Private Credit ETF (VPC) and Simplify Interest Rate Hedge ETF (PFIX). 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.
| VPC | PFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.33 | ||
| Sortino ratioReturn per unit of downside risk | -2.07 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.04 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | 0.10 | -0.90 |
| Martin ratioReturn relative to average drawdown | -1.37 | 0.15 | -1.52 |
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Drawdowns
VPC vs. PFIX - Drawdown Comparison
The maximum VPC drawdown since its inception was -53.45%, which is greater than PFIX's maximum drawdown of -36.17%. Use the drawdown chart below to compare losses from any high point for VPC and PFIX.
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Drawdown Indicators
| VPC | PFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.45% | -36.17% | -17.28% |
Max Drawdown (1Y)Largest decline over 1 year | -21.55% | -23.71% | +2.16% |
Max Drawdown (3Y)Largest decline over 3 years | -24.86% | -36.17% | +11.31% |
Max Drawdown (5Y)Largest decline over 5 years | -24.86% | -36.17% | +11.31% |
Current DrawdownCurrent decline from peak | -21.64% | -8.76% | -12.88% |
Average DrawdownAverage peak-to-trough decline | -7.95% | -17.19% | +9.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.51% | 15.42% | -2.91% |
Volatility
VPC vs. PFIX - Volatility Comparison
The current volatility for Virtus Private Credit ETF (VPC) is 3.44%, while Simplify Interest Rate Hedge ETF (PFIX) has a volatility of 7.75%. This indicates that VPC experiences smaller price fluctuations and is considered to be less risky than PFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VPC | PFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.44% | 7.75% | -4.31% |
Volatility (6M)Calculated over the trailing 6-month period | 11.09% | 21.92% | -10.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.74% | 29.31% | -15.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.58% | 38.61% | -25.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.42% | 38.13% | -17.71% |
VPC vs. PFIX - Expense Ratio Comparison
VPC has a 0.75% expense ratio, which is higher than PFIX's 0.50% expense ratio.
Dividends
VPC vs. PFIX - Dividend Comparison
VPC's dividend yield for the trailing twelve months is around 16.46%, more than PFIX's 7.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | 7.82% | 9.92% | 3.40% | 87.92% | 0.63% | 0.00% | 0.00% | 0.00% |
VPC Virtus Private Credit ETF | 16.46% | 14.33% | 11.26% | 11.71% | 10.74% | 6.31% | 10.06% | 8.19% |
Frequently Asked Questions
VPC and PFIX have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFIX has higher volatility (7.75%) compared to VPC (3.44%). In terms of maximum drawdown, VPC dropped -53.45% vs PFIX's -36.17%.
On 5-year performance, PFIX leads with 23.20% vs 0.87% for VPC. On fees, PFIX is cheaper at 0.50% per year. On volatility, VPC has been the lower-risk option at 3.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PFIX has performed better with a 23.20% return vs 0.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFIX is cheaper with a 0.50% expense ratio, compared with 0.75% for VPC.
VPC has the higher dividend yield at 16.46%, compared with 7.82% for PFIX.
VPC is categorized as Nontraditional Bonds, while PFIX is Inverse Bonds. They also come from different issuers: Virtus and Simplify. Their fees differ too: 0.75% for VPC and 0.50% for PFIX.
PFIX currently has the higher Sharpe Ratio (0.08 vs -1.25), 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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