MMK vs. SBIL

Last updated Jul 4, 2026

MMK (State Street Prime Money Market ETF) and SBIL (Simplify Government Money Market ETF) are both Money Market funds. Both are actively managed. At a 0.13 correlation, their price movements are largely independent. MMK charges 0.18%/yr vs 0.15%/yr for SBIL.

Performance

MMK vs. SBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Prime Money Market ETF (MMK) and Simplify Government Money Market ETF (SBIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MMK

• 1D: 0.03%
• 1M: 0.31%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SBIL

• 1D: 0.00%
• 1M: 0.26%
• 6M: 1.73%
• YTD: 1.77%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MMK vs. SBIL - Yearly Performance Comparison

	2026 (YTD)
MMK State Street Prime Money Market ETF	1.41%
SBIL Simplify Government Money Market ETF	1.37%

Correlation

The correlation between MMK and SBIL is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 12, 2026	0.13

Return for Risk

MMK vs. SBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Prime Money Market ETF (MMK) and Simplify Government Money Market ETF (SBIL). 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.

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

Drawdowns

MMK vs. SBIL - Drawdown Comparison

The maximum MMK drawdown since its inception was -0.01%, smaller than the maximum SBIL drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for MMK and SBIL.

Drawdown Indicators

	MMK	SBIL	Difference
Max Drawdown Largest peak-to-trough decline	-0.01%	-0.03%	+0.02%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.00%	0.00%

Volatility

Volatility by Period

	MMK	SBIL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	0.18%	0.27%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.18%	0.27%	-0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.18%	0.27%	-0.09%

MMK vs. SBIL - Expense Ratio Comparison

MMK has a 0.18% expense ratio, which is higher than SBIL'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

MMK vs. SBIL - Dividend Comparison

MMK's dividend yield for the trailing twelve months is around 1.38%, less than SBIL's 3.56% yield.

Position	TTM	2025
MMK State Street Prime Money Market ETF	1.38%	0.00%
SBIL Simplify Government Money Market ETF	3.56%	1.79%

Frequently Asked Questions

Can I hold both MMK and SBIL in my portfolio?

MMK and SBIL have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MMK or SBIL?

On fees, SBIL 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, MMK or SBIL?

SBIL is cheaper with a 0.15% expense ratio, compared with 0.18% for MMK.

Which ETF pays a higher dividend yield, MMK or SBIL?

SBIL has the higher dividend yield at 3.56%, compared with 1.38% for MMK.

What is the main difference between MMK and SBIL?

They also come from different issuers: State Street and Simplify. Their fees differ too: 0.18% for MMK and 0.15% for SBIL.