In this study, the variations in ingredients (organic acid, free sugar, free amino acid, β-glucan, γ-aminobutyric acid (GABA), total phenolic content (TPC)) of single yeast fermentation (SYF0d, SYF5d, SYF10d) and simultaneous cultured fermentation (SCF0d, SCF5d, SCF10d) were analyzed. The contents of β-glucan, GABA, and TPC in SCF10d were higher compared to those in SYF10d (417.28, 596.77, and 495.66 μg/mL), at 1158.92, 818.57, and 605.48 μg/mL, respectively. DPPH radical activity, ABTS radical activity, and oxygen radical absorbance capacity were greater in SCF10d than in SYF10d (187.60, 885.58, and 1.98 mg/mL), at 506.05, 1674.90, and 2.73 mg/mL, respectively. Anti-hypolipidemic (ACE1 inhibitory activity) and anti-cholesterol (HMG-CoA reductase inhibitory activity) of SCF10d were 59.66% (1/5 dilution factor, DF) and 37.16% (1/10 DF), respectively. These results suggest that SCF had higher antioxidant and anti-hypolipidemic activities.