HEQT vs DSM

Comparison between SIMPLIFY HEDGED EQUITY ETF (HEQT, ETF) and BNY Mellon Strategic Municipal Bond Fund Inc (DSM, ETF).

5-Year PerformanceHEQT has outperformed DSM, delivering a return of +8.9% compared to -1.5%

HEQT vs DSM - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	HEQT(ETF)	DSM(ETF)
Net Assets	$321M	$321M
Expense Ratio	0.43%	N/A
Max Drawdown	13.07%	53.69%
Sharpe Ratio	1.47	1.07
5Y Beta	0.47	0.19
5Y Dividends CAGR	N/A	-4.74%

Net Assets

Winner

HEQT

$321M

DSM

$321M

Expense Ratio

HEQT

0.43%

DSM

N/A

Max Drawdown

Winner

HEQT

13.07%

DSM

53.69%

Sharpe Ratio

Winner

HEQT

1.47

DSM

1.07

5Y Beta

HEQT

0.47

Winner

DSM

0.19

5Y Dividends CAGR

HEQT

N/A

DSM

-4.74%

HEQT vs DSM - Historical Returns

Returns include dividend reinvestment.

Period	HEQT	DSM
1 month	+0.42%	+0.42%
3 months	+3.66%	+1.29%
6 months	+4.47%	+3.50%
1 year	+13.84%	+14.94%
5 years(CAGR)	+8.92%	-1.46%
10 years(CAGR)	N/A	+1.25%
Max(CAGR)	+8.92%	+5.15%

Winner

HEQT

+0.42%

DSM

+0.42%

Winner

HEQT

+3.66%

DSM

+1.29%

Winner

HEQT

+4.47%

DSM

+3.50%

HEQT

+13.84%

Winner

DSM

+14.94%

5Y(CAGR)

Winner

HEQT

+8.92%

DSM

-1.46%

10Y(CAGR)

HEQT

N/A

DSM

+1.25%

Max(CAGR)

Winner

HEQT

+8.92%

DSM

+5.15%

HEQT vs DSM - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	HEQT	DSM
2026	+4.02%	+0.60%
2025	+10.19%	+10.70%
2024	+18.25%	+4.98%
2023	+16.76%	+3.00%
2022	-8.51%	-27.37%
2021	+2.16%	+11.90%
2020	N/A	+3.37%
2019	N/A	+18.05%
2018	N/A	-13.10%
2017	N/A	+12.39%
2016	N/A	+4.71%
2015	N/A	+7.30%
2014	N/A	+15.36%
2013	N/A	-16.99%
2012	N/A	+14.93%
2011	N/A	+24.19%
2010	N/A	+5.63%
2009	N/A	+45.32%
2008	N/A	-24.63%
2007	N/A	-13.34%
2006	N/A	+23.72%
2005	N/A	+1.31%
2004	N/A	+4.76%
2003	N/A	+18.37%
2002	N/A	+2.05%
2001	N/A	+3.76%
2000	N/A	+23.02%
1999	N/A	-6.54%

HEQT vs DSM Drawdown Comparison

The maximum drawdown for HEQT was -11.51%, occurring on Jun 16, 2022. Recovery took 356 trading sessions.

The maximum drawdown for DSM was -49.10%, occurring on Oct 10, 2008. Recovery took 691 trading sessions.

The current HEQT drawdown is -0.98%. The current DSM drawdown is -11.86%.

Rank	HEQT	DSM
#1	-11.51% Jan 4, 2022 - Jun 6, 2023	-49.10% May 4, 2007 - Feb 1, 2010
#2	-10.56% Feb 19, 2025 - Jul 22, 2025	-38.73% Aug 3, 2021 - Oct 25, 2023
#3	-5.87% Aug 30, 2023 - Nov 20, 2023	-31.97% Nov 6, 2019 - May 5, 2021
#4	-5.09% Feb 25, 2026 - Apr 16, 2026	-23.32% Jan 9, 2013 - Dec 21, 2015
#5	-5.04% Jul 16, 2024 - Aug 19, 2024	-17.18% Oct 1, 2010 - Aug 31, 2011
#6	-2.99% Aug 30, 2024 - Sep 16, 2024	-16.59% Aug 2, 2017 - May 9, 2019
#7	-2.90% Dec 11, 2024 - Jan 22, 2025	-16.42% Feb 18, 2004 - Nov 3, 2004
#8	-2.68% Mar 28, 2024 - May 6, 2024	-13.68% Jul 8, 2005 - Aug 16, 2006
#9	-2.57% Nov 11, 2025 - Nov 28, 2025	-12.71% Sep 30, 2002 - Mar 4, 2003
#10	-2.26% Jul 31, 2023 - Aug 30, 2023	-12.32% Nov 12, 1999 - Jan 28, 2000
#11	-2.03% Nov 18, 2021 - Dec 8, 2021	-12.03% Aug 13, 2001 - Jul 1, 2002
#12	-1.51% Feb 2, 2026 - Feb 9, 2026	-11.60% Sep 28, 2016 - Jul 12, 2017
#13	-1.48% Dec 15, 2021 - Dec 23, 2021	-11.55% Jun 16, 2003 - Jan 7, 2004
#14	-1.47% Dec 11, 2025 - Dec 22, 2025	-8.87% Jan 28, 2000 - Apr 4, 2000
#15	-1.41% Oct 22, 2024 - Nov 6, 2024	-7.89% Sep 30, 2011 - Dec 6, 2011

Correlation

Correlation between HEQT and DSM is 0.42 which considered as a weak positive correlation - the stocks show a slight tendency to move together.

0.42

-101

Dividend Comparison (1999 - 2026)

HEQT vs DSM dividend yield comparison.

Year	HEQT	DSM
2026	0.30%	2.08%
2025	1.19%	4.07%
2024	1.29%	3.72%
2023	4.10%	4.27%
2022	3.94%	5.95%
2021	0.27%	4.31%
2020	0.00%	4.57%
2019	0.00%	5.19%
2018	0.00%	6.11%
2017	0.00%	5.82%
2016	0.00%	6.19%
2015	0.00%	6.17%
2014	0.00%	7.71%
2013	0.00%	7.68%
2012	0.00%	6.60%
2011	0.00%	6.56%
2010	0.00%	7.22%
2009	0.00%	6.09%
2008	0.00%	8.38%
2007	0.00%	6.37%
2006	0.00%	5.39%
2005	0.00%	7.15%
2004	0.00%	7.19%
2003	0.00%	6.90%
2002	0.00%	6.94%
2001	0.00%	6.67%
2000	0.00%	6.94%
1999	0.00%	1.36%