MMKT vs. SBIL

Last updated Aug 4, 2026

MMKT (Texas Capital Government Money Market ETF) and SBIL (Simplify Government Money Market ETF) are both Money Market funds. Both are actively managed. Over the past year, MMKT returned 3.72% vs 3.87% for SBIL. Their 0.06 correlation means their historical movements had little consistent relationship. MMKT charges 0.20%/yr vs 0.15%/yr for SBIL.

Performance

MMKT vs. SBIL - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with MMKT having a 2.05% return and SBIL slightly higher at 2.11%.

MMKT

• 1D: 0.02%
• 1M: 0.30%
• 6M: 1.75%
• YTD: 2.05%
• 1Y: 3.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.01%

SBIL

• 1D: 0.02%
• 1M: 0.33%
• 6M: 1.77%
• YTD: 2.11%
• 1Y: 3.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.83%

*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)
MMKT Texas Capital Government Money Market ETF	$508.57K	$519.13K	$740.73K
SBIL Simplify Government Money Market ETF	$37.76M	$26.66M	$27.81M

MMKT vs. SBIL - Yearly Performance Comparison

	2026 (YTD)	2025
MMKT Texas Capital Government Money Market ETF	2.05%	1.88%
SBIL Simplify Government Money Market ETF	2.11%	1.88%

Correlation

The correlation between MMKT and SBIL is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.08
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.06

Return for Risk

MMKT vs. SBIL — Risk / Return Rank

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

MMKT

MMKT Risk / Return Rank: 100
MMKT Sharpe Ratio Rank: 100
MMKT Sortino Ratio Rank: 100
MMKT Omega Ratio Rank: 100
MMKT Calmar Ratio Rank: 100
MMKT Martin Ratio Rank: 100

SBIL

SBIL Risk / Return Rank: 100
SBIL Sharpe Ratio Rank: 100
SBIL Sortino Ratio Rank: 100
SBIL Omega Ratio Rank: 100
SBIL Calmar Ratio Rank: 100
SBIL Martin Ratio Rank: 100

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.

MMKT vs. SBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Texas Capital Government Money Market ETF (MMKT) 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.

	MMKT	SBIL	Difference
Sharpe ratio: Return per unit of total volatility	17.13	15.18	+1.95
Sortino ratio: Return per unit of downside risk	65.58	58.69	+6.90
Omega ratio: Gain probability vs. loss probability	17.69	13.04	+4.65
Calmar ratio: Return relative to maximum drawdown	149.89	155.37	-5.47
Martin ratio: Return relative to average drawdown	940.27	872.83	+67.44

MMKT vs. SBIL - Sharpe Ratio Comparison

The current MMKT Sharpe Ratio is 17.13, which is comparable to the SBIL Sharpe Ratio of 15.18. The chart below compares the historical Sharpe Ratios of MMKT and SBIL, 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

MMKT vs. SBIL - Drawdown Comparison

The maximum MMKT drawdown since its inception was -0.04%, which is greater than SBIL's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for MMKT and SBIL.

Drawdown Indicators

	MMKT	SBIL	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-0.03%	-0.01%
Max Drawdown (1Y) Largest decline over 1 year	-0.02%	-0.02%	0.00%
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%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.00%	0.00%

Volatility

MMKT vs. SBIL - Volatility Comparison

Texas Capital Government Money Market ETF (MMKT) has a higher volatility of 0.06% compared to Simplify Government Money Market ETF (SBIL) at 0.05%. This indicates that MMKT's price experiences larger fluctuations and is considered to be riskier than SBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MMKT	SBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	0.05%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	0.13%	0.18%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	0.22%	0.26%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.23%	0.26%	-0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.23%	0.26%	-0.03%

MMKT vs. SBIL - Expense Ratio Comparison

MMKT has a 0.20% 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

MMKT vs. SBIL - Dividend Comparison

MMKT's dividend yield for the trailing twelve months is around 3.65%, less than SBIL's 3.87% yield.

Position	TTM	2025	2024
MMKT Texas Capital Government Money Market ETF	3.65%	3.98%	1.07%
SBIL Simplify Government Money Market ETF	3.87%	1.79%	0.00%

Frequently Asked Questions

Can I hold both MMKT and SBIL in my portfolio?

MMKT and SBIL have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MMKT or SBIL?

MMKT has higher volatility (0.06%) compared to SBIL (0.05%). In terms of maximum drawdown, MMKT dropped -0.04% vs SBIL's -0.03%.

Which ETF is better, MMKT or SBIL?

On 1-year performance, SBIL leads with 3.87% vs 3.72% for MMKT. On fees, SBIL is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MMKT or SBIL?

Over the 1-year period, SBIL has performed better with a 3.87% return vs 3.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MMKT or SBIL?

SBIL is cheaper with a 0.15% expense ratio, compared with 0.20% for MMKT.

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

SBIL has the higher dividend yield at 3.87%, compared with 3.65% for MMKT.

What is the main difference between MMKT and SBIL?

They also come from different issuers: Texas Capital and Simplify. Their fees differ too: 0.20% for MMKT and 0.15% for SBIL.

Which has better risk-adjusted returns?

MMKT currently has the higher Sharpe Ratio (17.13 vs 15.18), 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.