EQLS vs. BUCK

Last updated Jun 4, 2026

EQLS (Simplify Market Neutral Equity Long/Short ETF) and BUCK (Simplify Treasury Option Income ETF) are both exchange-traded funds - EQLS is a Long-Short fund actively managed by Simplify, while BUCK is a Government Bonds fund actively managed by Simplify. Both are actively managed. At a correlation of -0.03, they often move in opposite directions. EQLS charges 1.00%/yr vs 0.35%/yr for BUCK.

Performance

EQLS vs. BUCK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Market Neutral Equity Long/Short ETF (EQLS) and Simplify Treasury Option Income ETF (BUCK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EQLS

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 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)

EQLS vs. BUCK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	6.82%	-4.82%	-3.63%
BUCK Simplify Treasury Option Income ETF	1.90%	4.13%	7.25%	2.28%

Correlation

The correlation between EQLS 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 (All Time) Calculated using the full available price history since Jun 15, 2023	-0.03

Return for Risk

EQLS vs. BUCK — Risk / Return Rank

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

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.

EQLS vs. BUCK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Market Neutral Equity Long/Short ETF (EQLS) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	EQLS	BUCK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.47	—

Drawdowns

Drawdown Indicators

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

Volatility

Volatility by Period

	EQLS	BUCK	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.70%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.53%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	3.14%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	3.49%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	3.49%	—

EQLS vs. BUCK - Expense Ratio Comparison

EQLS has a 1.00% expense ratio, which is higher than BUCK's 0.35% expense ratio.

Dividends

EQLS vs. BUCK - Dividend Comparison

EQLS has not paid dividends to shareholders, while BUCK's dividend yield for the trailing twelve months is around 7.42%.

Position	TTM	2025	2024	2023	2022
BUCK Simplify Treasury Option Income ETF	7.42%	7.59%	8.84%	4.84%	0.59%
EQLS Simplify Market Neutral Equity Long/Short ETF	0.00%	0.45%	0.95%	8.50%	0.00%

Frequently Asked Questions

Can I hold both EQLS and BUCK in my portfolio?

EQLS 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 ETF is better, EQLS or BUCK?

On fees, BUCK is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EQLS or BUCK?

BUCK is cheaper with a 0.35% expense ratio, compared with 1.00% for EQLS.

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

BUCK has the higher dividend yield at 7.42%, compared with 0.00% for EQLS.

What is the main difference between EQLS and BUCK?

EQLS is categorized as Long-Short, while BUCK is Government Bonds. Their fees differ too: 1.00% for EQLS and 0.35% for BUCK.