ZVOL vs. SBAR

Last updated Jun 4, 2026

ZVOL (Volatility Premium Plus ETF) and SBAR (Simplify Barrier Income ETF) are both exchange-traded funds - ZVOL is a Volatility fund tracking the S&P 500 VIX Mid Term Futures Inverse Daily Index, while SBAR is a Derivative Income fund actively managed by Simplify. ZVOL is passively managed, while SBAR is actively managed. Over the past year, ZVOL returned 8.27% vs 12.00% for SBAR. A 0.54 correlation means they provide meaningful diversification when combined. ZVOL charges 1.35%/yr vs 0.75%/yr for SBAR.

Performance

ZVOL vs. SBAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Volatility Premium Plus ETF (ZVOL) and Simplify Barrier Income ETF (SBAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZVOL achieves a -2.29% return, which is significantly lower than SBAR's 2.69% return.

ZVOL

• 1D: -0.60%
• 1M: 2.30%
• YTD: -2.29%
• 6M: 2.14%
• 1Y: 8.27%
• 3Y*: 9.26%
• 5Y*: —
• 10Y*: —

SBAR

• 1D: -0.31%
• 1M: 1.82%
• YTD: 2.69%
• 6M: 4.14%
• 1Y: 12.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZVOL vs. SBAR - Yearly Performance Comparison

	2026 (YTD)	2025
ZVOL Volatility Premium Plus ETF	-2.29%	19.00%
SBAR Simplify Barrier Income ETF	2.69%	13.80%

Correlation

The correlation between ZVOL and SBAR is 0.53, 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	0.53
Correlation (All Time) Calculated using the full available price history since Apr 16, 2025	0.54

The correlation between ZVOL and SBAR has been stable across timeframes, ranging from 0.53 to 0.54 - a consistent structural relationship.

Return for Risk

ZVOL vs. SBAR — Risk / Return Rank

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

ZVOL

ZVOL Risk / Return Rank: 16
ZVOL Sharpe Ratio Rank: 15
ZVOL Sortino Ratio Rank: 16
ZVOL Omega Ratio Rank: 15
ZVOL Calmar Ratio Rank: 15
ZVOL Martin Ratio Rank: 17

SBAR

SBAR Risk / Return Rank: 41
SBAR Sharpe Ratio Rank: 37
SBAR Sortino Ratio Rank: 38
SBAR Omega Ratio Rank: 36
SBAR Calmar Ratio Rank: 46
SBAR Martin Ratio Rank: 50

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.

ZVOL vs. SBAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Volatility Premium Plus ETF (ZVOL) and Simplify Barrier Income ETF (SBAR). 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.

	ZVOL	SBAR	Difference
Sharpe ratio: Return per unit of total volatility	0.44	1.35	-0.90
Sortino ratio: Return per unit of downside risk	0.79	1.98	-1.19
Omega ratio: Gain probability vs. loss probability	1.09	1.24	-0.15
Calmar ratio: Return relative to maximum drawdown	0.50	2.26	-1.76
Martin ratio: Return relative to average drawdown	1.62	8.43	-6.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZVOL vs. SBAR - Sharpe Ratio Comparison

The current ZVOL Sharpe Ratio is 0.44, which is lower than the SBAR Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of ZVOL and SBAR, 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

	ZVOL	SBAR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.44	1.35	-0.90
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	1.52	-1.09

Drawdowns

ZVOL vs. SBAR - Drawdown Comparison

The maximum ZVOL drawdown since its inception was -37.25%, which is greater than SBAR's maximum drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for ZVOL and SBAR.

Drawdown Indicators

	ZVOL	SBAR	Difference
Max Drawdown Largest peak-to-trough decline	-37.25%	-5.32%	-31.93%
Max Drawdown (1Y) Largest decline over 1 year	-16.46%	-5.32%	-11.14%
Max Drawdown (3Y) Largest decline over 3 years	-37.25%	—	—
Current Drawdown Current decline from peak	-22.17%	-0.31%	-21.86%
Average Drawdown Average peak-to-trough decline	-13.43%	-0.93%	-12.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.12%	1.43%	+3.69%

Volatility

ZVOL vs. SBAR - Volatility Comparison

Volatility Premium Plus ETF (ZVOL) has a higher volatility of 3.59% compared to Simplify Barrier Income ETF (SBAR) at 2.29%. This indicates that ZVOL's price experiences larger fluctuations and is considered to be riskier than SBAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZVOL	SBAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	2.29%	+1.30%
Volatility (6M) Calculated over the trailing 6-month period	13.27%	5.66%	+7.61%
Volatility (1Y) Calculated over the trailing 1-year period	18.74%	8.97%	+9.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.27%	9.80%	+19.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.27%	9.80%	+19.47%

ZVOL vs. SBAR - Expense Ratio Comparison

ZVOL has a 1.35% expense ratio, which is higher than SBAR's 0.75% expense ratio.

Dividends

ZVOL vs. SBAR - Dividend Comparison

ZVOL's dividend yield for the trailing twelve months is around 71.14%, more than SBAR's 12.68% yield.

Position	TTM	2025	2024	2023
SBAR Simplify Barrier Income ETF	12.68%	8.56%	0.00%	0.00%
ZVOL Volatility Premium Plus ETF	71.14%	53.44%	30.68%	0.55%

Frequently Asked Questions

Can I hold both ZVOL and SBAR in my portfolio?

ZVOL and SBAR have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ZVOL or SBAR?

ZVOL has higher volatility (3.59%) compared to SBAR (2.29%). In terms of maximum drawdown, ZVOL dropped -37.25% vs SBAR's -5.32%.

Which ETF is better, ZVOL or SBAR?

On 1-year performance, SBAR leads with 12.00% vs 8.27% for ZVOL. On fees, SBAR is cheaper at 0.75% per year. On volatility, SBAR has been the lower-risk option at 2.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ZVOL or SBAR?

Over the 1-year period, SBAR has performed better with a 12.00% return vs 8.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ZVOL or SBAR?

SBAR is cheaper with a 0.75% expense ratio, compared with 1.35% for ZVOL.

Which ETF pays a higher dividend yield, ZVOL or SBAR?

ZVOL has the higher dividend yield at 71.14%, compared with 12.68% for SBAR.

What is the main difference between ZVOL and SBAR?

ZVOL is categorized as Volatility, while SBAR is Derivative Income. They also come from different issuers: Volatility Shares and Simplify. Their fees differ too: 1.35% for ZVOL and 0.75% for SBAR.

Which has better risk-adjusted returns?

SBAR currently has the higher Sharpe Ratio (1.35 vs 0.44), 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.