Simplify US Equity PLUS Downside Convexity ETF (SPD) Performance
SPD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +5.6% since Dec 31, 2025
- 1 year
- +5.3% total return
- 5 years
- +6.8% a year
- 10 years
- +2.0% a year
- Since first price
- +1.9% a year since 1997
SPD trailing returns vs SPY, QQQ, AGG
| Period | SPD total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −2.2% | −2.6% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.0% | +0.5% | +3.2% | +1.9% | −0.4% |
| 6 months | +5.2% | +4.4% | +7.8% | +8.4% | −1.5% |
| YTD | +5.6% | +4.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +5.3% | +4.0% | +14.4% | +15.9% | −1.1% |
| 3 years | +64.6%+18.1%/yr | +58.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +38.7%+6.8%/yr | +29.2% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +22.2%+2.0%/yr | +12.7% | — | — | — |
| 15 years | +22.2%+1.3%/yr | +12.7% | — | — | — |
| 20 years | +22.2%+1.0%/yr | +12.7% | — | — | — |
| Since inceptionDec 31, 1997 | +73.8%+1.9%/yr | +60.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: SPD vs SPY
From Dec 31, 1997: SPD grew to $17,377, SPY to $128,259.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
SPD returns by calendar year
5 of 8 full years positive. Best 1999 (+78.8%), worst 2022 (−26.0%). 2026 is year to date.
SPD annual returns table
| Year | SPD | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +5.6% | −10.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +18.9% | −15.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +17.5% | −7.0% | +24.9% | +25.6% | +1.3% |
| 2023 | +20.9% | −9.4% | +26.2% | +54.9% | +5.7% |
| 2022 | −26.0% | −27.1% | −18.2% | −32.6% | −13.0% |
| 2021 | +24.8% | −5.6% | +28.7% | +27.4% | −1.8% |
| 2020 | −25.9% | −7.2% | +18.3% | +48.6% | +7.5% |
| 1999 | +78.8% | −31.1% | +20.4% | — | — |
| 1998 | −20.5% | −58.1% | +28.7% | — | — |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
SPD largest drawdowns
Now 4.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Apr 20, 1998 | −58.6% | Feb 25, 1999 | Jul 30, 1999 | 10 months | 1.3 years |
| Oct 27, 1999 | −35.5% | Sep 23, 2020 | Nov 7, 2024 | 20.9 years | 25.0 years |
| Dec 11, 2024 | −15.2% | Apr 8, 2025 | May 2, 2025 | 4 months | 5 months |
| Oct 28, 2025 | −11.9% | Mar 30, 2026 | May 6, 2026 | 5 months | 6 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
SPD risk statistics
| Statistic | 3 years | 5 years | Since 1997 |
|---|---|---|---|
| Annualized return | +18.0% | +7.9% | +7.4% |
| Volatility (annualized) | 14.1% | 14.4% | 30.4% |
| Sharpe ratio | 0.94 | 0.35 | — |
| Sortino ratio | 1.83 | 0.56 | — |
| Best month | +12.1% | +12.1% | +38.5% |
| Worst month | −6.6% | −7.6% | −33.2% |
| Best 12 months | +30.9% | +30.9% | +132.3% |
| Worst 12 months | +0.6% | −26.0% | −54.0% |
| Positive months | 61% | 55% | 57% |
| Beta vs S&P 500 | 0.92 | 0.75 | — |
| Correlation with S&P 500 | 0.81 | 0.81 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
SPD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 85 | −54.0% | +15.9% | +132.3% | 71% |
| 3-year (a year) | 61 | −8.9% | +4.9% | +20.7% | 90% |
| 5-year (a year) | 37 | −1.5% | +7.6% | +18.8% | 95% |
Every holding period starting at a month-end since 1997. Returns for 3 years and longer are annualized.
SPD performance overview
Simplify US Equity PLUS Downside Convexity ETF (SPD) returned +5.3% over the past year and +2.0% a year over ten years, with distributions reinvested. Since its first recorded price in 1997 it has returned +1.9% a year, turning $10,000 into about $17,377. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −58.6%, from Apr 20, 1998 to Feb 25, 1999, and it took 5 months to get back to the old high. SPD finished 5 of its 8 full calendar years with a gain; the best year was 1999 (+78.8%) and the worst 2022 (−26.0%). Volatility has been 30.4% a year.
Related: SPD chart, SPD dividends. See the SPD overview for the latest quote and fund facts.
SPD performance FAQ
What is the SPD return over the past year?
SPD returned +5.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 4.0%.
What is the average annual return of SPD?
SPD has returned +6.8% a year over 5 years, +2.0% a year over 10 years, +1.9% a year since December 31, 1997 (total return, distributions reinvested).
How much would $10,000 invested in SPD be worth?
$10,000 invested in SPD at its first recorded close on December 31, 1997 would be worth about $17,377 on October 23, 2026 with distributions reinvested.
What was the worst year for SPD?
The worst calendar year was 2022, with a total return of −26.0%. The best was 1999 at +78.8%.
What is the biggest drawdown of SPD?
The largest peak-to-trough decline was −58.6% between April 20, 1998 and February 25, 1999. It recovered to the old high on July 30, 1999, 5 months after the bottom.
How volatile is SPD?
Over the past 3 years SPD had an annualized volatility of 14.1% and a Sharpe ratio of 0.94 (excess return over 1–3 month T-bills per unit of risk).