XV vs. BUYW

Last updated Jun 4, 2026

XV (Simplify Target 15 Distribution ETF) and BUYW (Main Buywrite ETF) are both Derivative Income funds. Both are actively managed. Over the past year, XV returned 13.08% vs 9.76% for BUYW. At a 0.46 correlation, their price movements are largely independent. XV charges 0.75%/yr vs 1.29%/yr for BUYW.

Performance

XV vs. BUYW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Target 15 Distribution ETF (XV) and Main Buywrite ETF (BUYW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XV achieves a 3.17% return, which is significantly lower than BUYW's 3.39% return.

XV

• 1D: -0.40%
• 1M: 1.21%
• YTD: 3.17%
• 6M: 2.76%
• 1Y: 13.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BUYW

• 1D: 0.35%
• 1M: 0.99%
• YTD: 3.39%
• 6M: 4.27%
• 1Y: 9.76%
• 3Y*: 8.73%
• 5Y*: —
• 10Y*: —

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

XV vs. BUYW - Yearly Performance Comparison

	2026 (YTD)	2025
XV Simplify Target 15 Distribution ETF	3.17%	16.13%
BUYW Main Buywrite ETF	3.39%	11.53%

Correlation

The correlation between XV and BUYW is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (All Time) Calculated using the full available price history since Apr 16, 2025	0.46

XV vs. BUYW - Sectors Allocation Comparison

Sectors	XV	BUYW
Financial Services	78.4%	15.3%
Technology	33.1%	24.0%
Communication Services	10.7%	16.9%
Consumer Cyclical	10.1%	6.4%
Healthcare	9.8%	13.0%
Industrials	8.7%	4.4%
Consumer Defensive	5.4%	3.2%
Energy	3.5%	13.6%
Utilities	2.5%	1.3%
Real Estate	2.0%	1.0%
Basic Materials	1.9%	1.0%

Return for Risk

XV vs. BUYW — Risk / Return Rank

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

XV

XV Risk / Return Rank: 44
XV Sharpe Ratio Rank: 40
XV Sortino Ratio Rank: 41
XV Omega Ratio Rank: 39
XV Calmar Ratio Rank: 46
XV Martin Ratio Rank: 52

BUYW

BUYW Risk / Return Rank: 71
BUYW Sharpe Ratio Rank: 59
BUYW Sortino Ratio Rank: 66
BUYW Omega Ratio Rank: 66
BUYW Calmar Ratio Rank: 75
BUYW Martin Ratio Rank: 89

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.

XV vs. BUYW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Target 15 Distribution ETF (XV) and Main Buywrite ETF (BUYW). 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.

	XV	BUYW	Difference
Sharpe ratio: Return per unit of total volatility	1.42	2.03	-0.61
Sortino ratio: Return per unit of downside risk	2.09	3.08	-0.99
Omega ratio: Gain probability vs. loss probability	1.25	1.40	-0.15
Calmar ratio: Return relative to maximum drawdown	2.29	3.79	-1.49
Martin ratio: Return relative to average drawdown	8.72	20.24	-11.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XV vs. BUYW - Sharpe Ratio Comparison

The current XV Sharpe Ratio is 1.42, which is lower than the BUYW Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of XV and BUYW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XV	BUYW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	2.03	-0.61
Sharpe Ratio (All Time) Calculated using the full available price history	1.62	1.17	+0.45

Drawdowns

XV vs. BUYW - Drawdown Comparison

The maximum XV drawdown since its inception was -5.73%, smaller than the maximum BUYW drawdown of -9.36%. Use the drawdown chart below to compare losses from any high point for XV and BUYW.

Drawdown Indicators

	XV	BUYW	Difference
Max Drawdown Largest peak-to-trough decline	-5.73%	-9.36%	+3.63%
Max Drawdown (1Y) Largest decline over 1 year	-5.73%	-2.59%	-3.14%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.36%	—
Current Drawdown Current decline from peak	-0.42%	-0.21%	-0.21%
Average Drawdown Average peak-to-trough decline	-0.98%	-0.61%	-0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.50%	0.48%	+1.02%

Volatility

XV vs. BUYW - Volatility Comparison

Simplify Target 15 Distribution ETF (XV) has a higher volatility of 2.09% compared to Main Buywrite ETF (BUYW) at 1.02%. This indicates that XV's price experiences larger fluctuations and is considered to be riskier than BUYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XV	BUYW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.09%	1.02%	+1.07%
Volatility (6M) Calculated over the trailing 6-month period	5.97%	4.03%	+1.94%
Volatility (1Y) Calculated over the trailing 1-year period	9.31%	4.85%	+4.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.77%	8.47%	+2.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.77%	8.47%	+2.30%

XV vs. BUYW - Expense Ratio Comparison

XV has a 0.75% expense ratio, which is lower than BUYW's 1.29% expense ratio.

Dividends

XV vs. BUYW - Dividend Comparison

XV's dividend yield for the trailing twelve months is around 19.22%, more than BUYW's 5.91% yield.

Position	TTM	2025	2024	2023	2022
BUYW Main Buywrite ETF	5.91%	5.89%	5.93%	5.95%	0.50%
XV Simplify Target 15 Distribution ETF	19.22%	13.87%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XV and BUYW in my portfolio?

XV and BUYW have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XV or BUYW?

XV has higher volatility (2.09%) compared to BUYW (1.02%). In terms of maximum drawdown, XV dropped -5.73% vs BUYW's -9.36%.

Which ETF is better, XV or BUYW?

On 1-year performance, XV leads with 13.08% vs 9.76% for BUYW. On fees, XV is cheaper at 0.75% per year. On volatility, BUYW has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XV or BUYW?

Over the 1-year period, XV has performed better with a 13.08% return vs 9.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XV or BUYW?

XV is cheaper with a 0.75% expense ratio, compared with 1.29% for BUYW.

Which ETF pays a higher dividend yield, XV or BUYW?

XV has the higher dividend yield at 19.22%, compared with 5.91% for BUYW.

What is the main difference between XV and BUYW?

They also come from different issuers: Simplify and Main Funds. Their fees differ too: 0.75% for XV and 1.29% for BUYW.

Which has better risk-adjusted returns?

BUYW currently has the higher Sharpe Ratio (2.03 vs 1.42), 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.