IMTG vs. MTBA

Last updated Jun 4, 2026

IMTG (Invesco Agency MBS ETF) and MTBA (Simplify MBS ETF) are both Mortgage Backed Securities funds. Both are actively managed. With a 0.97 correlation, they move nearly in lockstep. IMTG charges 0.22%/yr vs 0.15%/yr for MTBA.

Performance

IMTG vs. MTBA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Agency MBS ETF (IMTG) and Simplify MBS ETF (MTBA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IMTG

• 1D: -0.18%
• 1M: 0.23%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MTBA

• 1D: 0.10%
• 1M: 0.23%
• YTD: -0.13%
• 6M: 0.34%
• 1Y: 4.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IMTG vs. MTBA - Yearly Performance Comparison

	2026 (YTD)
IMTG Invesco Agency MBS ETF	-1.11%
MTBA Simplify MBS ETF	-1.30%

Correlation

The correlation between IMTG and MTBA is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 26, 2026	0.97

Return for Risk

IMTG vs. MTBA — Risk / Return Rank

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

MTBA

MTBA Risk / Return Rank: 42
MTBA Sharpe Ratio Rank: 46
MTBA Sortino Ratio Rank: 45
MTBA Omega Ratio Rank: 48
MTBA Calmar Ratio Rank: 35
MTBA Martin Ratio Rank: 38

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.

IMTG vs. MTBA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Agency MBS ETF (IMTG) and Simplify MBS ETF (MTBA). 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

	IMTG	MTBA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.86	1.31	-2.17

Drawdowns

IMTG vs. MTBA - Drawdown Comparison

The maximum IMTG drawdown since its inception was -2.85%, smaller than the maximum MTBA drawdown of -3.48%. Use the drawdown chart below to compare losses from any high point for IMTG and MTBA.

Drawdown Indicators

	IMTG	MTBA	Difference
Max Drawdown Largest peak-to-trough decline	-2.85%	-3.48%	+0.63%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.82%	—
Current Drawdown Current decline from peak	-1.50%	-1.50%	0.00%
Average Drawdown Average peak-to-trough decline	-1.41%	-0.79%	-0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.83%	—

Volatility

Volatility by Period

	IMTG	MTBA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.33%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.47%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.74%	3.10%	+1.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.74%	3.95%	+0.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.74%	3.95%	+0.79%

IMTG vs. MTBA - Expense Ratio Comparison

IMTG has a 0.22% expense ratio, which is higher than MTBA's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IMTG vs. MTBA - Dividend Comparison

IMTG's dividend yield for the trailing twelve months is around 0.85%, less than MTBA's 6.08% yield.

Position	TTM	2025	2024	2023
IMTG Invesco Agency MBS ETF	0.85%	0.00%	0.00%	0.00%
MTBA Simplify MBS ETF	6.08%	5.98%	6.03%	0.48%

Frequently Asked Questions

Can I hold both IMTG and MTBA in my portfolio?

With a correlation of 0.97, IMTG and MTBA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, IMTG or MTBA?

On fees, MTBA is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IMTG or MTBA?

MTBA is cheaper with a 0.15% expense ratio, compared with 0.22% for IMTG.

Which ETF pays a higher dividend yield, IMTG or MTBA?

MTBA has the higher dividend yield at 6.08%, compared with 0.85% for IMTG.

What is the main difference between IMTG and MTBA?

They also come from different issuers: Invesco and Simplify. Their fees differ too: 0.22% for IMTG and 0.15% for MTBA.