BUYW vs. BUCK

Last updated Jun 4, 2026

BUYW (Main Buywrite ETF) and BUCK (Simplify Treasury Option Income ETF) are both exchange-traded funds - BUYW is a Derivative Income fund actively managed by Main Funds, while BUCK is a Government Bonds fund actively managed by Simplify. Both are actively managed. Over the past 3 years, BUYW returned 8.73%/yr vs 5.27%/yr for BUCK. At a 0.03 correlation, their price movements are largely independent. BUYW charges 1.29%/yr vs 0.35%/yr for BUCK.

Performance

BUYW vs. BUCK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Main Buywrite ETF (BUYW) and Simplify Treasury Option Income ETF (BUCK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BUYW achieves a 3.39% return, which is significantly higher than BUCK's 1.90% return.

BUYW

• 1D: 0.35%
• 1M: 0.99%
• YTD: 3.39%
• 6M: 4.27%
• 1Y: 9.76%
• 3Y*: 8.73%
• 5Y*: —
• 10Y*: —

BUCK

• 1D: 0.02%
• 1M: 0.38%
• YTD: 1.90%
• 6M: 2.09%
• 1Y: 7.95%
• 3Y*: 5.27%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BUYW vs. BUCK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BUYW Main Buywrite ETF	3.39%	9.08%	9.82%	12.80%	3.60%
BUCK Simplify Treasury Option Income ETF	1.90%	4.13%	7.25%	4.63%	0.39%

Correlation

The correlation between BUYW and BUCK is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (All Time) Calculated using the full available price history since Oct 31, 2022	0.03

BUYW vs. BUCK - Sectors Allocation Comparison

Sectors	BUYW	BUCK
Technology	24.0%	-
Communication Services	16.9%	-
Financial Services	15.3%	100.0%
Energy	13.6%	-
Healthcare	13.0%	-
Consumer Cyclical	6.4%	-
Industrials	4.4%	-
Consumer Defensive	3.2%	-
Utilities	1.3%	-
Basic Materials	1.0%	-
Real Estate	1.0%	-

Return for Risk

BUYW vs. BUCK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BUYW

BUYW Risk / Return Rank: 71
BUYW Sharpe Ratio Rank: 59
BUYW Sortino Ratio Rank: 66
BUYW Omega Ratio Rank: 66
BUYW Calmar Ratio Rank: 75
BUYW Martin Ratio Rank: 89

BUCK

BUCK Risk / Return Rank: 87
BUCK Sharpe Ratio Rank: 77
BUCK Sortino Ratio Rank: 84
BUCK Omega Ratio Rank: 86
BUCK Calmar Ratio Rank: 92
BUCK Martin Ratio Rank: 95

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BUYW vs. BUCK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Main Buywrite ETF (BUYW) and Simplify Treasury Option Income ETF (BUCK). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BUYW	BUCK	Difference
Sharpe ratio Return per unit of total volatility	2.03	2.54	-0.52
Sortino ratio Return per unit of downside risk	3.08	3.83	-0.75
Omega ratio Gain probability vs. loss probability	1.40	1.54	-0.14
Calmar ratio Return relative to maximum drawdown	3.79	6.11	-2.32
Martin ratio Return relative to average drawdown	20.24	32.31	-12.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BUYW vs. BUCK - Sharpe Ratio Comparison

The current BUYW Sharpe Ratio is 2.03, which is comparable to the BUCK Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of BUYW and BUCK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BUYW	BUCK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.03	2.54	-0.52
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	1.47	-0.30

Drawdowns

BUYW vs. BUCK - Drawdown Comparison

The maximum BUYW drawdown since its inception was -9.36%, which is greater than BUCK's maximum drawdown of -5.43%. Use the drawdown chart below to compare losses from any high point for BUYW and BUCK.

Drawdown Indicators

	BUYW	BUCK	Difference
Max Drawdown Largest peak-to-trough decline	-9.36%	-5.43%	-3.93%
Max Drawdown (1Y) Largest decline over 1 year	-2.59%	-1.31%	-1.28%
Max Drawdown (3Y) Largest decline over 3 years	-9.36%	-5.43%	-3.93%
Current Drawdown Current decline from peak	-0.21%	-0.04%	-0.17%
Average Drawdown Average peak-to-trough decline	-0.61%	-0.49%	-0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	0.25%	+0.23%

Volatility

BUYW vs. BUCK - Volatility Comparison

Main Buywrite ETF (BUYW) has a higher volatility of 1.02% compared to Simplify Treasury Option Income ETF (BUCK) at 0.70%. This indicates that BUYW's price experiences larger fluctuations and is considered to be riskier than BUCK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUYW	BUCK	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.02%	0.70%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	4.03%	1.53%	+2.50%
Volatility (1Y) Calculated over the trailing 1-year period	4.85%	3.14%	+1.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.47%	3.49%	+4.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.47%	3.49%	+4.98%

BUYW vs. BUCK - Expense Ratio Comparison

BUYW has a 1.29% expense ratio, which is higher than BUCK's 0.35% expense ratio.

Dividends

BUYW vs. BUCK - Dividend Comparison

BUYW's dividend yield for the trailing twelve months is around 5.91%, less than BUCK's 7.42% yield.

Position	TTM	2025	2024	2023	2022
BUCK Simplify Treasury Option Income ETF	7.42%	7.59%	8.84%	4.84%	0.59%
BUYW Main Buywrite ETF	5.91%	5.89%	5.93%	5.95%	0.50%

Frequently Asked Questions

Can I hold both BUYW and BUCK in my portfolio?

BUYW and BUCK have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUYW or BUCK?

BUYW has higher volatility (1.02%) compared to BUCK (0.70%). In terms of maximum drawdown, BUYW dropped -9.36% vs BUCK's -5.43%.

Which ETF is better, BUYW or BUCK?

On 3-year performance, BUYW leads with 8.73% vs 5.27% for BUCK. On fees, BUCK is cheaper at 0.35% per year. On volatility, BUCK has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUYW or BUCK?

Over the 3-year period, BUYW has performed better with a 8.73% return vs 5.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUYW or BUCK?

BUCK is cheaper with a 0.35% expense ratio, compared with 1.29% for BUYW.

Which ETF pays a higher dividend yield, BUYW or BUCK?

BUCK has the higher dividend yield at 7.42%, compared with 5.91% for BUYW.

What is the main difference between BUYW and BUCK?

BUYW is categorized as Derivative Income, while BUCK is Government Bonds. They also come from different issuers: Main Funds and Simplify. Their fees differ too: 1.29% for BUYW and 0.35% for BUCK.

Which has better risk-adjusted returns?

BUCK currently has the higher Sharpe Ratio (2.54 vs 2.03), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.