IBTL vs. BUCK

Last updated Jun 4, 2026

IBTL (iShares iBonds Dec 2031 Term Treasury ETF) and BUCK (Simplify Treasury Option Income ETF) are both Government Bonds funds. IBTL is passively managed, while BUCK is actively managed. Over the past 3 years, IBTL returned 2.83%/yr vs 5.27%/yr for BUCK. At a 0.11 correlation, their price movements are largely independent. IBTL charges 0.07%/yr vs 0.35%/yr for BUCK.

Performance

IBTL vs. BUCK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2031 Term Treasury ETF (IBTL) 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, IBTL achieves a -0.47% return, which is significantly lower than BUCK's 1.90% return.

IBTL

• 1D: -0.15%
• 1M: -0.21%
• YTD: -0.47%
• 6M: -0.69%
• 1Y: 3.77%
• 3Y*: 2.83%
• 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)

IBTL vs. BUCK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IBTL iShares iBonds Dec 2031 Term Treasury ETF	-0.47%	7.85%	0.36%	3.60%	1.80%
BUCK Simplify Treasury Option Income ETF	1.90%	4.13%	7.25%	4.63%	0.39%

Correlation

The correlation between IBTL and BUCK is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (All Time) Calculated using the full available price history since Oct 31, 2022	0.11

The correlation between IBTL and BUCK shifts across timeframes, from 0.11 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

IBTL vs. BUCK — Risk / Return Rank

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

IBTL

IBTL Risk / Return Rank: 28
IBTL Sharpe Ratio Rank: 28
IBTL Sortino Ratio Rank: 29
IBTL Omega Ratio Rank: 27
IBTL Calmar Ratio Rank: 27
IBTL Martin Ratio Rank: 28

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.

IBTL vs. BUCK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2031 Term Treasury ETF (IBTL) 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.

	IBTL	BUCK	Difference
Sharpe ratio: Return per unit of total volatility	1.05	2.54	-1.49
Sortino ratio: Return per unit of downside risk	1.60	3.83	-2.23
Omega ratio: Gain probability vs. loss probability	1.18	1.54	-0.36
Calmar ratio: Return relative to maximum drawdown	1.34	6.11	-4.77
Martin ratio: Return relative to average drawdown	3.90	32.31	-28.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBTL vs. BUCK - Sharpe Ratio Comparison

The current IBTL Sharpe Ratio is 1.05, which is lower than the BUCK Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of IBTL 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

	IBTL	BUCK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.05	2.54	-1.49
Sharpe Ratio (All Time) Calculated using the full available price history	-0.21	1.47	-1.68

Drawdowns

IBTL vs. BUCK - Drawdown Comparison

The maximum IBTL drawdown since its inception was -20.93%, which is greater than BUCK's maximum drawdown of -5.43%. Use the drawdown chart below to compare losses from any high point for IBTL and BUCK.

Drawdown Indicators

	IBTL	BUCK	Difference
Max Drawdown Largest peak-to-trough decline	-20.93%	-5.43%	-15.50%
Max Drawdown (1Y) Largest decline over 1 year	-2.83%	-1.31%	-1.52%
Max Drawdown (3Y) Largest decline over 3 years	-7.38%	-5.43%	-1.95%
Current Drawdown Current decline from peak	-7.25%	-0.04%	-7.21%
Average Drawdown Average peak-to-trough decline	-11.47%	-0.49%	-10.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	0.25%	+0.72%

Volatility

IBTL vs. BUCK - Volatility Comparison

iShares iBonds Dec 2031 Term Treasury ETF (IBTL) has a higher volatility of 1.08% compared to Simplify Treasury Option Income ETF (BUCK) at 0.70%. This indicates that IBTL'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

	IBTL	BUCK	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	0.70%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	2.39%	1.53%	+0.86%
Volatility (1Y) Calculated over the trailing 1-year period	3.62%	3.14%	+0.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.46%	3.49%	+3.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.46%	3.49%	+3.97%

IBTL vs. BUCK - Expense Ratio Comparison

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

Dividends

IBTL vs. BUCK - Dividend Comparison

IBTL's dividend yield for the trailing twelve months is around 3.97%, less than BUCK's 7.42% yield.

Position	TTM	2025	2024	2023	2022	2021
BUCK Simplify Treasury Option Income ETF	7.42%	7.59%	8.84%	4.84%	0.59%	0.00%
IBTL iShares iBonds Dec 2031 Term Treasury ETF	3.97%	3.93%	4.07%	3.04%	2.36%	0.70%

Frequently Asked Questions

Can I hold both IBTL and BUCK in my portfolio?

IBTL and BUCK have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBTL or BUCK?

IBTL has higher volatility (1.08%) compared to BUCK (0.70%). In terms of maximum drawdown, IBTL dropped -20.93% vs BUCK's -5.43%.

Which ETF is better, IBTL or BUCK?

On 3-year performance, BUCK leads with 5.27% vs 2.83% for IBTL. On fees, IBTL is cheaper at 0.07% 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, IBTL or BUCK?

Over the 3-year period, BUCK has performed better with a 5.27% return vs 2.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBTL or BUCK?

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

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

BUCK has the higher dividend yield at 7.42%, compared with 3.97% for IBTL.

What is the main difference between IBTL and BUCK?

They also come from different issuers: iShares and Simplify. Their fees differ too: 0.07% for IBTL and 0.35% for BUCK.

Which has better risk-adjusted returns?

BUCK currently has the higher Sharpe Ratio (2.54 vs 1.05), 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.