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HEQT vs SPDF

Simplify Hedged Equity ETF vs Defender Risk Adaptive 500 ETF

HEQT

Simplify Hedged Equity ETF

Simplify Asset Management

Annual cost

0.43%

Fund size

$321M

SPDF

Defender Risk Adaptive 500 ETF

Tamarisk Capital Management LLC

Annual cost

0.69%

Fund size

$5M

Key differences

  • HEQT costs 0.26% less per year.
  • HEQT is significantly larger than SPDF — larger funds tend to be more liquid and less likely to close.
  • HEQT is classified as alternative, while SPDF is equity — different risk/return profiles.
  • HEQT follows a option income strategy; SPDF uses active selection.
  • HEQT has a longer track record, which may reduce uncertainty around long-term behavior.

Side-by-side comparison

HEQTSPDF
Annual cost (TER)0.43%0.69%
Fund size (AUM)$321M$5M
Since20212026
Dividend yield1.21%
Asset classalternativeequity
Regionnorth americanorth america
Strategyoption incomeactive selection
CAGR 1Y+15.3%N/A
CAGR 3Y+13.9%N/A
CAGR 5YN/AN/A
Sharpe 3Y1.24N/A
Volatility 1Y6.50%
Max drawdown-11.51%-1.90%

Green dot indicates the better value for that metric. Performance data is historical and does not predict future results.

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