IEF vs. TUA
IEF (iShares 7-10 Year Treasury Bond ETF) and TUA (Simplify Short Term Treasury Futures Strategy ETF) are both exchange-traded funds - IEF is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while TUA is a Intermediate Core Bond fund actively managed by Simplify. IEF is passively managed, while TUA is actively managed. Over the past 3 years, IEF returned 2.47%/yr vs -0.88%/yr for TUA. Their correlation of 0.83 suggests significant overlap in exposure. IEF charges 0.15%/yr vs 0.16%/yr for TUA.
Performance
IEF vs. TUA - Performance Comparison
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Returns By Period
In the year-to-date period, IEF achieves a -0.66% return, which is significantly higher than TUA's -5.38% return.
IEF
- 1D
- -0.25%
- 1M
- -0.08%
- YTD
- -0.66%
- 6M
- -1.17%
- 1Y
- 4.06%
- 3Y*
- 2.47%
- 5Y*
- -1.14%
- 10Y*
- 0.63%
TUA
- 1D
- -0.39%
- 1M
- -0.91%
- YTD
- -5.38%
- 6M
- -5.28%
- 1Y
- -1.78%
- 3Y*
- -0.88%
- 5Y*
- —
- 10Y*
- —
IEF vs. TUA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | -0.66% | 8.03% | -0.63% | 3.64% | -0.27% |
TUA Simplify Short Term Treasury Futures Strategy ETF | -5.38% | 7.27% | -3.59% | -2.04% | -0.81% |
Correlation
The correlation between IEF and TUA is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2022 | 0.83 |
The correlation between IEF and TUA has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.
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Return for Risk
IEF vs. TUA — Risk / Return Rank
IEF
TUA
IEF vs. TUA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 7-10 Year Treasury Bond ETF (IEF) and Simplify Short Term Treasury Futures Strategy ETF (TUA). 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.
| IEF | TUA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.96 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | -0.27 | +1.27 |
| Martin ratioReturn relative to average drawdown | 2.98 | -0.71 | +3.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IEF | TUA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.85 | -0.26 | +1.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.15 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.10 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | -0.13 | +0.63 |
Drawdowns
IEF vs. TUA - Drawdown Comparison
The maximum IEF drawdown since its inception was -23.93%, which is greater than TUA's maximum drawdown of -15.85%. Use the drawdown chart below to compare losses from any high point for IEF and TUA.
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Drawdown Indicators
| IEF | TUA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.93% | -15.85% | -8.08% |
Max Drawdown (1Y)Largest decline over 1 year | -4.07% | -6.68% | +2.61% |
Max Drawdown (3Y)Largest decline over 3 years | -7.74% | -9.14% | +1.40% |
Max Drawdown (5Y)Largest decline over 5 years | -21.40% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -23.93% | — | — |
Current DrawdownCurrent decline from peak | -11.35% | -10.05% | -1.30% |
Average DrawdownAverage peak-to-trough decline | -5.34% | -8.37% | +3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.37% | 2.53% | -1.16% |
Volatility
IEF vs. TUA - Volatility Comparison
The current volatility for iShares 7-10 Year Treasury Bond ETF (IEF) is 1.54%, while Simplify Short Term Treasury Futures Strategy ETF (TUA) has a volatility of 1.95%. This indicates that IEF experiences smaller price fluctuations and is considered to be less risky than TUA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEF | TUA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 1.95% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 3.34% | 4.84% | -1.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.78% | 6.85% | -2.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.71% | 10.76% | -3.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.62% | 10.76% | -4.14% |
IEF vs. TUA - Expense Ratio Comparison
IEF has a 0.15% expense ratio, which is lower than TUA's 0.16% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IEF vs. TUA - Dividend Comparison
IEF's dividend yield for the trailing twelve months is around 3.90%, more than TUA's 3.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | 3.90% | 3.77% | 3.62% | 2.91% | 1.96% | 0.83% | 1.08% | 2.08% | 2.24% | 1.82% | 1.81% | 1.90% |
TUA Simplify Short Term Treasury Futures Strategy ETF | 3.56% | 3.84% | 5.19% | 4.83% | 0.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IEF and TUA have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TUA has higher volatility (1.95%) compared to IEF (1.54%). In terms of maximum drawdown, IEF dropped -23.93% vs TUA's -15.85%.
On 3-year performance, IEF leads with 2.47% vs -0.88% for TUA. On fees, IEF is cheaper at 0.15% per year. On volatility, IEF has been the lower-risk option at 1.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IEF has performed better with a 2.47% return vs -0.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEF is cheaper with a 0.15% expense ratio, compared with 0.16% for TUA.
IEF has the higher dividend yield at 3.90%, compared with 3.56% for TUA.
IEF is categorized as Government Bonds, while TUA is Intermediate Core Bond. They also come from different issuers: iShares and Simplify. Their fees differ too: 0.15% for IEF and 0.16% for TUA.
IEF currently has the higher Sharpe Ratio (0.85 vs -0.26), 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.
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