CLIP vs. BUCK

Last updated Jun 4, 2026

CLIP (Global X 1-3 Month T-Bill ETF) and BUCK (Simplify Treasury Option Income ETF) are both exchange-traded funds - CLIP is a Ultrashort Bond fund tracking the Solactive 1-3 month US T-Bill Index - USD, while BUCK is a Government Bonds fund actively managed by Simplify. CLIP is passively managed, while BUCK is actively managed. Over the past year, CLIP returned 3.96% vs 7.95% for BUCK. At a correlation of -0.05, they often move in opposite directions. CLIP charges 0.07%/yr vs 0.35%/yr for BUCK.

Performance

CLIP vs. BUCK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X 1-3 Month T-Bill ETF (CLIP) 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, CLIP achieves a 1.50% return, which is significantly lower than BUCK's 1.90% return.

CLIP

• 1D: 0.01%
• 1M: 0.28%
• YTD: 1.50%
• 6M: 1.82%
• 1Y: 3.96%
• 3Y*: —
• 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)

CLIP vs. BUCK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CLIP Global X 1-3 Month T-Bill ETF	1.50%	4.23%	5.26%	2.82%
BUCK Simplify Treasury Option Income ETF	1.90%	4.13%	7.25%	2.26%

Correlation

The correlation between CLIP and BUCK is -0.03, 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	-0.03
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	-0.05

Return for Risk

CLIP vs. BUCK — Risk / Return Rank

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

CLIP

CLIP Risk / Return Rank: 100
CLIP Sharpe Ratio Rank: 100
CLIP Sortino Ratio Rank: 100
CLIP Omega Ratio Rank: 100
CLIP Calmar Ratio Rank: 100
CLIP Martin Ratio Rank: 100

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.

CLIP vs. BUCK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X 1-3 Month T-Bill ETF (CLIP) 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.

	CLIP	BUCK	Difference
Sharpe ratio: Return per unit of total volatility	17.26	2.54	+14.72
Sortino ratio: Return per unit of downside risk	72.02	3.83	+68.20
Omega ratio: Gain probability vs. loss probability	20.66	1.54	+19.12
Calmar ratio: Return relative to maximum drawdown	142.22	6.11	+136.12
Martin ratio: Return relative to average drawdown	1,151.15	32.31	+1,118.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLIP vs. BUCK - Sharpe Ratio Comparison

The current CLIP Sharpe Ratio is 17.26, which is higher than the BUCK Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of CLIP 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

	CLIP	BUCK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	17.26	2.54	+14.72
Sharpe Ratio (All Time) Calculated using the full available price history	10.71	1.47	+9.24

Drawdowns

CLIP vs. BUCK - Drawdown Comparison

The maximum CLIP drawdown since its inception was -0.08%, smaller than the maximum BUCK drawdown of -5.43%. Use the drawdown chart below to compare losses from any high point for CLIP and BUCK.

Drawdown Indicators

	CLIP	BUCK	Difference
Max Drawdown Largest peak-to-trough decline	-0.08%	-5.43%	+5.35%
Max Drawdown (1Y) Largest decline over 1 year	-0.03%	-1.31%	+1.28%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.43%	—
Current Drawdown Current decline from peak	0.00%	-0.04%	+0.04%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.49%	+0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.25%	-0.25%

Volatility

CLIP vs. BUCK - Volatility Comparison

The current volatility for Global X 1-3 Month T-Bill ETF (CLIP) is 0.06%, while Simplify Treasury Option Income ETF (BUCK) has a volatility of 0.70%. This indicates that CLIP experiences smaller price fluctuations and is considered to be less risky than BUCK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLIP	BUCK	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	0.70%	-0.64%
Volatility (6M) Calculated over the trailing 6-month period	0.14%	1.53%	-1.39%
Volatility (1Y) Calculated over the trailing 1-year period	0.23%	3.14%	-2.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.44%	3.49%	-3.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.44%	3.49%	-3.05%

CLIP vs. BUCK - Expense Ratio Comparison

CLIP has a 0.07% expense ratio, which is lower than BUCK's 0.35% expense ratio.

Dividends

CLIP vs. BUCK - Dividend Comparison

CLIP's dividend yield for the trailing twelve months is around 3.91%, 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%
CLIP Global X 1-3 Month T-Bill ETF	3.91%	4.14%	5.11%	2.75%	0.00%

Frequently Asked Questions

Can I hold both CLIP and BUCK in my portfolio?

CLIP and BUCK have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLIP or BUCK?

BUCK has higher volatility (0.70%) compared to CLIP (0.06%). In terms of maximum drawdown, CLIP dropped -0.08% vs BUCK's -5.43%.

Which ETF is better, CLIP or BUCK?

On 1-year performance, BUCK leads with 7.95% vs 3.96% for CLIP. On fees, CLIP is cheaper at 0.07% per year. On volatility, CLIP has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLIP or BUCK?

Over the 1-year period, BUCK has performed better with a 7.95% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLIP or BUCK?

CLIP is cheaper with a 0.07% expense ratio, compared with 0.35% for BUCK.

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

BUCK has the higher dividend yield at 7.42%, compared with 3.91% for CLIP.

What is the main difference between CLIP and BUCK?

CLIP is categorized as Ultrashort Bond, while BUCK is Government Bonds. They also come from different issuers: Global X and Simplify. Their fees differ too: 0.07% for CLIP and 0.35% for BUCK.

Which has better risk-adjusted returns?

CLIP currently has the higher Sharpe Ratio (17.26 vs 2.54), 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.