XPTFX vs. CDX
XPTFX (Federated Hermes Project and Trade Finance Tender Fund) and CDX (Simplify High Yield ETF) are both funds - XPTFX is a Bank Loan fund managed by Federated, while CDX is a High Yield Bonds fund actively managed by Simplify. Over the past 3 years, XPTFX returned 7.91%/yr vs 7.17%/yr for CDX. Their 0.00 correlation means their historical movements had little consistent relationship. XPTFX charges 0.41%/yr vs 0.25%/yr for CDX.
Performance
XPTFX vs. CDX - Performance Comparison
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Returns By Period
In the year-to-date period, XPTFX achieves a 3.95% return, which is significantly higher than CDX's -3.00% return.
XPTFX
- 1D
- 0.00%
- 1M
- 0.50%
- 6M
- 3.33%
- YTD
- 3.95%
- 1Y
- 7.07%
- 3Y*
- 7.91%
- 5Y*
- 6.57%
- 10Y*
- —
- ALL TIME*
- 4.76%
CDX
- 1D
- 0.10%
- 1M
- -0.57%
- 6M
- -3.06%
- YTD
- -3.00%
- 1Y
- -3.26%
- 3Y*
- 7.17%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.23M | $2.17M | $2.98M | |
| $0.00 | $0.00 | $0.00 |
XPTFX vs. CDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XPTFX Federated Hermes Project and Trade Finance Tender Fund | 3.95% | 7.47% | 8.62% | 8.55% | 3.43% |
CDX Simplify High Yield ETF | -3.00% | 9.51% | 7.71% | 12.74% | -8.26% |
Correlation
The correlation between XPTFX and CDX is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.09 |
Correlation (3Y) Balances recent behavior with more history. | 0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2022 | 0.00 |
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Return for Risk
XPTFX vs. CDX — Risk / Return Rank
XPTFX
CDX
XPTFX vs. CDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Project and Trade Finance Tender Fund (XPTFX) and Simplify High Yield ETF (CDX). 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.
| XPTFX | CDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.00 | ||
| Sortino ratioReturn per unit of downside risk | +4.29 | ||
| Omega ratioGain probability vs. loss probability | 4.11 | 0.92 | +3.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.68 | -0.60 | +4.28 |
| Martin ratioReturn relative to average drawdown | 11.56 | -1.44 | +12.99 |
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Drawdowns
XPTFX vs. CDX - Drawdown Comparison
The maximum XPTFX drawdown since its inception was -2.95%, smaller than the maximum CDX drawdown of -13.24%. Use the drawdown chart below to compare losses from any high point for XPTFX and CDX.
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Drawdown Indicators
| XPTFX | CDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.95% | -13.24% | +10.29% |
Max Drawdown (1Y)Largest decline over 1 year | -1.96% | -5.37% | +3.41% |
Max Drawdown (3Y)Largest decline over 3 years | -2.95% | -8.97% | +6.02% |
Max Drawdown (5Y)Largest decline over 5 years | -2.95% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -7.94% | +7.94% |
Average DrawdownAverage peak-to-trough decline | -0.26% | -4.44% | +4.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | 2.24% | -1.62% |
Volatility
XPTFX vs. CDX - Volatility Comparison
The current volatility for Federated Hermes Project and Trade Finance Tender Fund (XPTFX) is 0.21%, while Simplify High Yield ETF (CDX) has a volatility of 2.02%. This indicates that XPTFX experiences smaller price fluctuations and is considered to be less risky than CDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XPTFX | CDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.21% | 2.02% | -1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 0.60% | 5.16% | -4.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.93% | 5.98% | -3.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.53% | 10.97% | -8.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.00% | 10.97% | -8.97% |
XPTFX vs. CDX - Expense Ratio Comparison
XPTFX has a 0.41% expense ratio, which is higher than CDX's 0.25% expense ratio.
Dividends
XPTFX vs. CDX - Dividend Comparison
XPTFX's dividend yield for the trailing twelve months is around 6.03%, less than CDX's 8.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CDX Simplify High Yield ETF | 8.33% | 7.18% | 12.60% | 5.26% | 7.51% | 0.00% | 0.00% | 0.00% | 0.00% |
XPTFX Federated Hermes Project and Trade Finance Tender Fund | 6.03% | 7.24% | 6.78% | 6.66% | 5.70% | 2.21% | 2.74% | 4.62% | 4.60% |
Frequently Asked Questions
XPTFX and CDX have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CDX has higher volatility (2.02%) compared to XPTFX (0.21%). In terms of maximum drawdown, XPTFX dropped -2.95% vs CDX's -13.24%.
XPTFX currently has the higher Sharpe Ratio (2.46 vs -0.54), 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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