XV vs. KHPI

Last updated Jun 4, 2026

XV (Simplify Target 15 Distribution ETF) and KHPI (Kensington Hedged Premium Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, XV returned 13.08% vs 15.09% for KHPI. A 0.53 correlation means they provide meaningful diversification when combined. XV charges 0.75%/yr vs 0.96%/yr for KHPI.

Performance

XV vs. KHPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Target 15 Distribution ETF (XV) and Kensington Hedged Premium Income ETF (KHPI). 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 KHPI's 5.45% return.

XV

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

KHPI

• 1D: -0.50%
• 1M: 2.40%
• YTD: 5.45%
• 6M: 4.74%
• 1Y: 15.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XV vs. KHPI - Yearly Performance Comparison

	2026 (YTD)	2025
XV Simplify Target 15 Distribution ETF	3.17%	16.13%
KHPI Kensington Hedged Premium Income ETF	5.45%	15.69%

Correlation

The correlation between XV and KHPI is 0.55, 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	0.55
Correlation (All Time) Calculated using the full available price history since Apr 16, 2025	0.53

The correlation between XV and KHPI has been stable across timeframes, ranging from 0.53 to 0.55 - a consistent structural relationship.

Return for Risk

XV vs. KHPI — 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

KHPI

KHPI Risk / Return Rank: 60
KHPI Sharpe Ratio Rank: 62
KHPI Sortino Ratio Rank: 65
KHPI Omega Ratio Rank: 64
KHPI Calmar Ratio Rank: 48
KHPI Martin Ratio Rank: 61

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. KHPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Target 15 Distribution ETF (XV) and Kensington Hedged Premium Income ETF (KHPI). 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	KHPI	Difference
Sharpe ratio: Return per unit of total volatility	1.42	2.10	-0.68
Sortino ratio: Return per unit of downside risk	2.09	3.02	-0.93
Omega ratio: Gain probability vs. loss probability	1.25	1.39	-0.13
Calmar ratio: Return relative to maximum drawdown	2.29	2.31	-0.02
Martin ratio: Return relative to average drawdown	8.72	10.89	-2.17
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. KHPI - Sharpe Ratio Comparison

The current XV Sharpe Ratio is 1.42, which is lower than the KHPI Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of XV and KHPI, 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	KHPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	2.10	-0.68
Sharpe Ratio (All Time) Calculated using the full available price history	1.62	1.28	+0.34

Drawdowns

XV vs. KHPI - Drawdown Comparison

The maximum XV drawdown since its inception was -5.73%, smaller than the maximum KHPI drawdown of -10.58%. Use the drawdown chart below to compare losses from any high point for XV and KHPI.

Drawdown Indicators

	XV	KHPI	Difference
Max Drawdown Largest peak-to-trough decline	-5.73%	-10.58%	+4.85%
Max Drawdown (1Y) Largest decline over 1 year	-5.73%	-6.55%	+0.82%
Current Drawdown Current decline from peak	-0.42%	-0.50%	+0.08%
Average Drawdown Average peak-to-trough decline	-0.98%	-1.23%	+0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.50%	1.39%	+0.11%

Volatility

XV vs. KHPI - Volatility Comparison

The current volatility for Simplify Target 15 Distribution ETF (XV) is 2.09%, while Kensington Hedged Premium Income ETF (KHPI) has a volatility of 2.20%. This indicates that XV experiences smaller price fluctuations and is considered to be less risky than KHPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XV	KHPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.09%	2.20%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	5.97%	5.49%	+0.48%
Volatility (1Y) Calculated over the trailing 1-year period	9.31%	7.24%	+2.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.77%	9.61%	+1.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.77%	9.61%	+1.16%

XV vs. KHPI - Expense Ratio Comparison

XV has a 0.75% expense ratio, which is lower than KHPI's 0.96% expense ratio.

Dividends

XV vs. KHPI - Dividend Comparison

XV's dividend yield for the trailing twelve months is around 19.22%, more than KHPI's 8.86% yield.

Position	TTM	2025	2024
KHPI Kensington Hedged Premium Income ETF	8.86%	8.90%	3.01%
XV Simplify Target 15 Distribution ETF	19.22%	13.87%	0.00%

Frequently Asked Questions

Can I hold both XV and KHPI in my portfolio?

XV and KHPI have a correlation of 0.55, 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 KHPI?

KHPI has higher volatility (2.20%) compared to XV (2.09%). In terms of maximum drawdown, XV dropped -5.73% vs KHPI's -10.58%.

Which ETF is better, XV or KHPI?

On 1-year performance, KHPI leads with 15.09% vs 13.08% for XV. On fees, XV is cheaper at 0.75% per year. On volatility, XV has been the lower-risk option at 2.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XV or KHPI?

Over the 1-year period, KHPI has performed better with a 15.09% return vs 13.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XV or KHPI?

XV is cheaper with a 0.75% expense ratio, compared with 0.96% for KHPI.

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

XV has the higher dividend yield at 19.22%, compared with 8.86% for KHPI.

What is the main difference between XV and KHPI?

They also come from different issuers: Simplify and Kensington Asset Management. Their fees differ too: 0.75% for XV and 0.96% for KHPI.

Which has better risk-adjusted returns?

KHPI currently has the higher Sharpe Ratio (2.10 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.