YGLD vs. HEQT

Last updated Jun 5, 2026

YGLD (Simplify Gold Strategy PLUS Income ETF) and HEQT (Simplify Hedged Equity ETF) are both exchange-traded funds - YGLD is a Gold fund actively managed by Simplify, while HEQT is a Options Trading fund actively managed by Simplify. Both are actively managed. Over the past year, YGLD returned 21.90% vs 14.78% for HEQT. At a 0.21 correlation, their price movements are largely independent. YGLD charges 0.50%/yr vs 0.53%/yr for HEQT.

Performance

YGLD vs. HEQT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Gold Strategy PLUS Income ETF (YGLD) and Simplify Hedged Equity ETF (HEQT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YGLD achieves a -6.29% return, which is significantly lower than HEQT's 4.92% return.

YGLD

• 1D: 1.02%
• 1M: -2.40%
• YTD: -6.29%
• 6M: -6.43%
• 1Y: 21.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HEQT

• 1D: -0.03%
• 1M: 1.33%
• YTD: 4.92%
• 6M: 5.48%
• 1Y: 14.78%
• 3Y*: 13.47%
• 5Y*: —
• 10Y*: —

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

YGLD vs. HEQT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
YGLD Simplify Gold Strategy PLUS Income ETF	-6.29%	96.82%	-4.17%
HEQT Simplify Hedged Equity ETF	4.92%	10.08%	-1.66%

Correlation

The correlation between YGLD and HEQT is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024	0.21

The correlation between YGLD and HEQT shifts across timeframes, from 0.21 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.

YGLD vs. HEQT - Sectors Allocation Comparison

Sectors	YGLD	HEQT
Financial Services	32.3%	11.9%
Basic Materials	-	1.8%
Communication Services	-	10.9%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Healthcare	-	8.4%
Industrials	-	8.1%
Real Estate	-	1.9%
Technology	-	36.2%
Utilities	-	2.3%

Return for Risk

YGLD vs. HEQT — Risk / Return Rank

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

YGLD

YGLD Risk / Return Rank: 18
YGLD Sharpe Ratio Rank: 18
YGLD Sortino Ratio Rank: 19
YGLD Omega Ratio Rank: 21
YGLD Calmar Ratio Rank: 17
YGLD Martin Ratio Rank: 16

HEQT

HEQT Risk / Return Rank: 72
HEQT Sharpe Ratio Rank: 72
HEQT Sortino Ratio Rank: 75
HEQT Omega Ratio Rank: 82
HEQT Calmar Ratio Rank: 60
HEQT Martin Ratio Rank: 72

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.

YGLD vs. HEQT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Gold Strategy PLUS Income ETF (YGLD) and Simplify Hedged Equity ETF (HEQT). 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.

	YGLD	HEQT	Difference
Sharpe ratio: Return per unit of total volatility	0.54	2.33	-1.78
Sortino ratio: Return per unit of downside risk	0.93	3.31	-2.38
Omega ratio: Gain probability vs. loss probability	1.13	1.49	-0.35
Calmar ratio: Return relative to maximum drawdown	0.64	2.92	-2.27
Martin ratio: Return relative to average drawdown	1.46	13.35	-11.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

YGLD vs. HEQT - Sharpe Ratio Comparison

The current YGLD Sharpe Ratio is 0.54, which is lower than the HEQT Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of YGLD and HEQT, 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

	YGLD	HEQT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.54	2.33	-1.78
Sharpe Ratio (All Time) Calculated using the full available price history	1.20	1.08	+0.11

Drawdowns

YGLD vs. HEQT - Drawdown Comparison

The maximum YGLD drawdown since its inception was -34.23%, which is greater than HEQT's maximum drawdown of -11.51%. Use the drawdown chart below to compare losses from any high point for YGLD and HEQT.

Drawdown Indicators

	YGLD	HEQT	Difference
Max Drawdown Largest peak-to-trough decline	-34.23%	-11.51%	-22.72%
Max Drawdown (1Y) Largest decline over 1 year	-34.23%	-5.09%	-29.14%
Max Drawdown (3Y) Largest decline over 3 years	—	-10.57%	—
Current Drawdown Current decline from peak	-32.38%	-0.09%	-32.29%
Average Drawdown Average peak-to-trough decline	-7.97%	-2.79%	-5.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.00%	1.11%	+13.89%

Volatility

YGLD vs. HEQT - Volatility Comparison

Simplify Gold Strategy PLUS Income ETF (YGLD) has a higher volatility of 8.69% compared to Simplify Hedged Equity ETF (HEQT) at 0.73%. This indicates that YGLD's price experiences larger fluctuations and is considered to be riskier than HEQT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YGLD	HEQT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.69%	0.73%	+7.96%
Volatility (6M) Calculated over the trailing 6-month period	34.68%	5.27%	+29.41%
Volatility (1Y) Calculated over the trailing 1-year period	40.42%	6.38%	+34.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.06%	8.47%	+30.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.06%	8.47%	+30.59%

YGLD vs. HEQT - Expense Ratio Comparison

YGLD has a 0.50% expense ratio, which is lower than HEQT's 0.53% expense ratio.

Dividends

YGLD vs. HEQT - Dividend Comparison

YGLD's dividend yield for the trailing twelve months is around 19.04%, more than HEQT's 1.19% yield.

Position	TTM	2025	2024	2023	2022	2021
HEQT Simplify Hedged Equity ETF	1.19%	1.19%	1.29%	4.10%	3.94%	0.27%
YGLD Simplify Gold Strategy PLUS Income ETF	19.04%	12.05%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both YGLD and HEQT in my portfolio?

YGLD and HEQT have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YGLD or HEQT?

YGLD has higher volatility (8.69%) compared to HEQT (0.73%). In terms of maximum drawdown, YGLD dropped -34.23% vs HEQT's -11.51%.

Which ETF is better, YGLD or HEQT?

On 1-year performance, YGLD leads with 21.90% vs 14.78% for HEQT. On fees, YGLD is cheaper at 0.50% per year. On volatility, HEQT has been the lower-risk option at 0.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YGLD or HEQT?

Over the 1-year period, YGLD has performed better with a 21.90% return vs 14.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YGLD or HEQT?

YGLD is cheaper with a 0.50% expense ratio, compared with 0.53% for HEQT.

Which ETF pays a higher dividend yield, YGLD or HEQT?

YGLD has the higher dividend yield at 19.04%, compared with 1.19% for HEQT.

What is the main difference between YGLD and HEQT?

YGLD is categorized as Gold, while HEQT is Options Trading. Their fees differ too: 0.50% for YGLD and 0.53% for HEQT.

Which has better risk-adjusted returns?

HEQT currently has the higher Sharpe Ratio (2.33 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.