XV vs. IVVW
XV (Simplify Target 15 Distribution ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. XV is actively managed, while IVVW is passively managed. Over the past year, XV returned 11.55% vs 16.65% for IVVW. A 0.66 correlation means they provide meaningful diversification when combined. XV charges 0.75%/yr vs 0.25%/yr for IVVW.
Performance
XV vs. IVVW - Performance Comparison
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Returns By Period
In the year-to-date period, XV achieves a 3.65% return, which is significantly lower than IVVW's 4.06% return.
XV
- 1D
- -0.12%
- 1M
- 1.02%
- YTD
- 3.65%
- 6M
- 3.08%
- 1Y
- 11.55%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IVVW
- 1D
- 0.05%
- 1M
- 0.21%
- YTD
- 4.06%
- 6M
- 3.97%
- 1Y
- 16.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XV vs. IVVW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XV Simplify Target 15 Distribution ETF | 3.65% | 16.13% |
IVVW iShares S&P 500 BuyWrite ETF | 4.06% | 18.81% |
Correlation
The correlation between XV and IVVW is 0.65, 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 | 0.65 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2025 | 0.66 |
The correlation between XV and IVVW has been stable across timeframes, ranging from 0.65 to 0.66 - a consistent structural relationship.
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Return for Risk
XV vs. IVVW — Risk / Return Rank
XV
IVVW
XV vs. IVVW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Target 15 Distribution ETF (XV) and iShares S&P 500 BuyWrite ETF (IVVW). 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.
| XV | IVVW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.45 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.02 | 2.88 | -0.85 |
| Martin ratioReturn relative to average drawdown | 7.64 | 15.32 | -7.69 |
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Drawdowns
XV vs. IVVW - Drawdown Comparison
The maximum XV drawdown since its inception was -5.73%, smaller than the maximum IVVW drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for XV and IVVW.
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Drawdown Indicators
| XV | IVVW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.73% | -16.79% | +11.06% |
Max Drawdown (1Y)Largest decline over 1 year | -5.73% | -5.81% | +0.08% |
Current DrawdownCurrent decline from peak | -0.82% | -1.33% | +0.51% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -1.73% | +0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.52% | 1.09% | +0.43% |
Volatility
XV vs. IVVW - Volatility Comparison
The current volatility for Simplify Target 15 Distribution ETF (XV) is 3.19%, while iShares S&P 500 BuyWrite ETF (IVVW) has a volatility of 3.44%. This indicates that XV experiences smaller price fluctuations and is considered to be less risky than IVVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XV | IVVW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 3.44% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 6.43% | 6.89% | -0.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.13% | 8.04% | +1.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.85% | 12.68% | -1.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.85% | 12.68% | -1.83% |
XV vs. IVVW - Expense Ratio Comparison
XV has a 0.75% expense ratio, which is higher than IVVW's 0.25% expense ratio.
Dividends
XV vs. IVVW - Dividend Comparison
XV's dividend yield for the trailing twelve months is around 19.13%, less than IVVW's 19.85% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IVVW iShares S&P 500 BuyWrite ETF | 19.85% | 18.55% | 13.72% |
XV Simplify Target 15 Distribution ETF | 19.13% | 13.87% | 0.00% |
Frequently Asked Questions
XV and IVVW have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVVW has higher volatility (3.44%) compared to XV (3.19%). In terms of maximum drawdown, XV dropped -5.73% vs IVVW's -16.79%.
On 1-year performance, IVVW leads with 16.65% vs 11.55% for XV. On fees, IVVW is cheaper at 0.25% per year. On volatility, XV has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IVVW has performed better with a 16.65% return vs 11.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVVW is cheaper with a 0.25% expense ratio, compared with 0.75% for XV.
IVVW has the higher dividend yield at 19.85%, compared with 19.13% for XV.
They also come from different issuers: Simplify and iShares. Their fees differ too: 0.75% for XV and 0.25% for IVVW.
IVVW currently has the higher Sharpe Ratio (2.08 vs 1.27), 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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