HIGH vs. TLTX

Last updated Aug 2, 2026

HIGH (Simplify Enhanced Income ETF) and TLTX (Global X Treasury Bond Enhanced Income ETF) are both exchange-traded funds - HIGH is a Derivative Income fund actively managed by Simplify, while TLTX is a Government Bonds fund actively managed by Global X. Both are actively managed. Over the past year, HIGH returned -1.25% vs -0.67% for TLTX. Their 0.14 correlation means their historical movements had little consistent relationship. HIGH charges 0.50%/yr vs 0.29%/yr for TLTX.

Performance

HIGH vs. TLTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Enhanced Income ETF (HIGH) and Global X Treasury Bond Enhanced Income ETF (TLTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HIGH achieves a -1.00% return, which is significantly higher than TLTX's -3.11% return.

HIGH

• 1D: 0.30%
• 1M: -0.44%
• 6M: -0.14%
• YTD: -1.00%
• 1Y: -1.25%
• 3Y*: 2.43%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.43%

TLTX

• 1D: -1.91%
• 1M: -3.51%
• 6M: -2.90%
• YTD: -3.11%
• 1Y: -0.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.62%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HIGH Simplify Enhanced Income ETF	$264.89K	$245.02K	$537.34K
TLTX Global X Treasury Bond Enhanced Income ETF	$202.98K	$200.23K	$333.11K

HIGH vs. TLTX - Yearly Performance Comparison

	2026 (YTD)	2025
HIGH Simplify Enhanced Income ETF	-1.00%	-1.77%
TLTX Global X Treasury Bond Enhanced Income ETF	-3.11%	6.02%

Correlation

The correlation between HIGH and TLTX is 0.18, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.18
Correlation (All Time) Calculated using the full available price history since Jul 16, 2025	0.14

Return for Risk

HIGH vs. TLTX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HIGH

HIGH Risk / Return Rank: 8
HIGH Sharpe Ratio Rank: 8
HIGH Sortino Ratio Rank: 7
HIGH Omega Ratio Rank: 7
HIGH Calmar Ratio Rank: 8
HIGH Martin Ratio Rank: 8

TLTX

TLTX Risk / Return Rank: 9
TLTX Sharpe Ratio Rank: 10
TLTX Sortino Ratio Rank: 9
TLTX Omega Ratio Rank: 9
TLTX Calmar Ratio Rank: 10
TLTX Martin Ratio Rank: 10

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HIGH vs. TLTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Enhanced Income ETF (HIGH) and Global X Treasury Bond Enhanced Income ETF (TLTX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	HIGH	TLTX	Difference
Sharpe ratio: Return per unit of total volatility	-0.21	-0.05	-0.15
Sortino ratio: Return per unit of downside risk	-0.26	-0.01	-0.25
Omega ratio: Gain probability vs. loss probability	0.97	1.00	-0.03
Calmar ratio: Return relative to maximum drawdown	-0.21	-0.08	-0.14
Martin ratio: Return relative to average drawdown	-0.34	-0.17	-0.17

HIGH vs. TLTX - Sharpe Ratio Comparison

The current HIGH Sharpe Ratio is -0.21, which is lower than the TLTX Sharpe Ratio of -0.05. The chart below compares the historical Sharpe Ratios of HIGH and TLTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HIGH vs. TLTX - Drawdown Comparison

The maximum HIGH drawdown since its inception was -9.50%, which is greater than TLTX's maximum drawdown of -6.70%. Use the drawdown chart below to compare losses from any high point for HIGH and TLTX.

Drawdown Indicators

	HIGH	TLTX	Difference
Max Drawdown Largest peak-to-trough decline	-9.50%	-6.70%	-2.80%
Max Drawdown (1Y) Largest decline over 1 year	-7.08%	-6.70%	-0.38%
Max Drawdown (3Y) Largest decline over 3 years	-9.50%	—	—
Current Drawdown Current decline from peak	-7.69%	-6.70%	-0.99%
Average Drawdown Average peak-to-trough decline	-2.59%	-2.49%	-0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.46%	3.03%	+1.43%

Volatility

HIGH vs. TLTX - Volatility Comparison

The current volatility for Simplify Enhanced Income ETF (HIGH) is 2.16%, while Global X Treasury Bond Enhanced Income ETF (TLTX) has a volatility of 2.95%. This indicates that HIGH experiences smaller price fluctuations and is considered to be less risky than TLTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIGH	TLTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.16%	2.95%	-0.79%
Volatility (6M) Calculated over the trailing 6-month period	3.90%	7.29%	-3.39%
Volatility (1Y) Calculated over the trailing 1-year period	7.23%	9.44%	-2.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.46%	9.44%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.46%	9.44%	+0.02%

HIGH vs. TLTX - Expense Ratio Comparison

HIGH has a 0.50% expense ratio, which is higher than TLTX's 0.29% expense ratio.

Dividends

HIGH vs. TLTX - Dividend Comparison

HIGH's dividend yield for the trailing twelve months is around 6.88%, less than TLTX's 19.30% yield.

Position	TTM	2025	2024	2023	2022
HIGH Simplify Enhanced Income ETF	6.88%	7.71%	8.34%	9.40%	0.62%
TLTX Global X Treasury Bond Enhanced Income ETF	19.30%	7.54%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HIGH and TLTX in my portfolio?

HIGH and TLTX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HIGH or TLTX?

TLTX has higher volatility (2.95%) compared to HIGH (2.16%). In terms of maximum drawdown, HIGH dropped -9.50% vs TLTX's -6.70%.

Which ETF is better, HIGH or TLTX?

On 1-year performance, TLTX leads with -0.67% vs -1.25% for HIGH. On fees, TLTX is cheaper at 0.29% per year. On volatility, HIGH has been the lower-risk option at 2.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HIGH or TLTX?

Over the 1-year period, TLTX has performed better with a -0.67% return vs -1.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HIGH or TLTX?

TLTX is cheaper with a 0.29% expense ratio, compared with 0.50% for HIGH.

Which ETF pays a higher dividend yield, HIGH or TLTX?

TLTX has the higher dividend yield at 19.30%, compared with 6.88% for HIGH.

What is the main difference between HIGH and TLTX?

HIGH is categorized as Derivative Income, while TLTX is Government Bonds. They also come from different issuers: Simplify and Global X. Their fees differ too: 0.50% for HIGH and 0.29% for TLTX.

Which has better risk-adjusted returns?

TLTX currently has the higher Sharpe Ratio (-0.05 vs -0.21), 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.