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ETFs

Simplify Interest Rate Hedge ETF

PFIX
$—
Today’s Change
— (—)

Snapshot
*

Inception Date
May 10, 2021
Expense Ratio
0.5%
Type
US Bonds
Fund Owner
Simplify ETF
Volume (1m avg. daily)
$12,294,154
AUM
$224,510,086
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

B 10/03/23 Govt
B 10/03/23 Govt
53.83%
—
T 4 1/4 10/15/25 Govt
42.62%
—
Cash
1.93%
B 0 12/19/23
B 12/19/23 Govt
1.61%
—
Derivatives offset
-22.34%
Invest with PFIX
Trade PFIX Options

What is PFIX?

The Simplify Interest Rate Hedge ETF seeks to provide a hedge against a sharp increase in long-term interest rates. T he fund holds a large position in over-the-counter (OTC) interest rate options intended to provide a direct and transparent convex exposure to large upward moves in interest rates and interest rate volatility.Using OTC derivatives usually only available to institutional investors, PFIX is designed to be functionally similar to owning a position in long-dated put options on 20-year US Treasury bonds. Since the option position is held for extended periods the ETF provides a simple and transparent interest rate hedge.

1M
3M
6M
YTD
1Y
3Y
Max
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PFIX
Performance Measures**

for the time period May 11, 2021 to Dec 4, 2025

Returns

1M Trailing Return: 7.7%

The percent change in the value over the most recent 1-month period.

3M Trailing Return: -10.5%

The percent change in the value over the most recent 3-month period.

Measures of Risk or Volatility

Max Drawdown: -36.2%

The greatest percent loss from peak to trough in value over the time period.

Standard Deviation: 39.2%

The typical amount that daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

Measures of Risk-Adjusted Performance

Sharpe Ratio: 0.59

The annualized arithmetic mean of the daily returns divided by the annualized standard deviation of the daily returns for the selected time period.

Calmar Ratio: 0.46

The annualized return divided by the max drawdown for the selected time period.

ETFs related toPFIX

ETFs correlated to PFIX include TBT, TMV, TTT

PFIX
Simplify Exchange Traded Funds - Simplify Interest Rate Hedge ETF
TBT
Invesco Capital Management LLC - PowerShares UltraShort Lehman 20+ Year Treasury ProShares 2x Shares
TMV
Direxion Shares ETF Trust - Direxion Daily 20+ Year Treasury Bear -3X Shares
TTT
ProShares Trust - ProShares UltraPro Short 20+ Year Treasury -3x Shares
TBF
ProShares Trust - ProShares Short 20+ Year Treasury -1x Shares
PST
Invesco Capital Management LLC - PowerShares UltraShort Lehman 7-10 + Year Treasury ProShares -2X Sh
TBX
ProShares Trust - ProShares Short 7-10 Year Treasury -1x Shares
SJB
ProShares Trust - ProShares Short High Yield -1x Shares
DBMF
Manager Directed Portfolios - iMGP DBi Managed Futures Strategy ETF
KMLM
KraneShares Trust - KFA Mount Lucas Managed Futures Index Strategy ETF
PAAA
PGIM ETF Trust - PGIM AAA CLO ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Trading Strategies
Related toPFIX

Some compares combined WM 74

Category

Momentum, Risk-on/risk-off, Leveraged ETFs, Tech-focused, Daily rebalanced

OOS Cumulative Return

62.11%

Monoblob & The Man | 12.8.24

Category

Tactical, swing, volatility hedging, leveraged ETFs, mean‑reversion, momentum/trend, macro overlay, long/short

OOS Cumulative Return

48.55%

Create your own algorithmic trading strategy with PFIX using Composer

FAQ

PFIX is a US Bonds ETF. The Simplify Interest Rate Hedge ETF seeks to provide a hedge against a sharp increase in long-term interest rates. T he fund holds a large position in over-the-counter (OTC) interest rate options intended to provide a direct and transparent convex exposure to large upward moves in interest rates and interest rate volatility.Using OTC derivatives usually only available to institutional investors, PFIX is designed to be functionally similar to owning a position in long-dated put options on 20-year US Treasury bonds. Since the option position is held for extended periods the ETF provides a simple and transparent interest rate hedge.

Yes, PFIX is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, PFIX is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on PFIX is 0.1301%. This is the percent change in the value of PFIX over the most recent 1-month period. The 3-month return on PFIX is 0.4692%. This is the percent change in the value of PFIX over the most recent 3-month period.

The standard deviation of PFIX for the past year is 0.4045%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to PFIX include SHY, BIL, and IEI.

ETFs correlated to PFIX include TBT, TMV, and TTT.

ETFs that are inversely correlated to PFIX include ZROZ, EDV, and TMF.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.