MTBA vs. ^GSPC

Last updated Apr 1, 2026

Compare and contrast key facts about Simplify MBS ETF (MTBA) and S&P 500 Index (^GSPC).

MTBA is an actively managed fund by Simplify. It was launched on Nov 6, 2023.

Performance

MTBA vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify MBS ETF (MTBA) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

MTBA vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MTBA Simplify MBS ETF	-0.43%	7.74%	1.99%	3.64%
^GSPC S&P 500 Index	-4.63%	16.39%	23.31%	8.94%

Returns By Period

In the year-to-date period, MTBA achieves a -0.43% return, which is significantly higher than ^GSPC's -4.63% return.

MTBA

• 1D: 0.28%
• 1M: -1.80%
• YTD: -0.43%
• 6M: 1.22%
• 1Y: 4.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

^GSPC

• 1D: 2.91%
• 1M: -5.09%
• YTD: -4.63%
• 6M: -2.39%
• 1Y: 16.33%
• 3Y*: 16.69%
• 5Y*: 10.18%
• 10Y*: 12.16%

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

Return for Risk

MTBA vs. ^GSPC — Risk / Return Rank

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

MTBA

MTBA Risk / Return Rank: 76
MTBA Sharpe Ratio Rank: 79
MTBA Sortino Ratio Rank: 79
MTBA Omega Ratio Rank: 75
MTBA Calmar Ratio Rank: 73
MTBA Martin Ratio Rank: 74

^GSPC

^GSPC Risk / Return Rank: 74
^GSPC Sharpe Ratio Rank: 69
^GSPC Sortino Ratio Rank: 68
^GSPC Omega Ratio Rank: 76
^GSPC Calmar Ratio Rank: 73
^GSPC Martin Ratio Rank: 85

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.

MTBA vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify MBS ETF (MTBA) and S&P 500 Index (^GSPC). 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.

	MTBA	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.43	0.90	+0.54
Sortino ratio Return per unit of downside risk	1.97	1.39	+0.59
Omega ratio Gain probability vs. loss probability	1.27	1.21	+0.06
Calmar ratio Return relative to maximum drawdown	1.80	1.40	+0.40
Martin ratio Return relative to average drawdown	7.36	6.61	+0.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MTBA vs. ^GSPC - Sharpe Ratio Comparison

The current MTBA Sharpe Ratio is 1.43, which is higher than the ^GSPC Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of MTBA and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MTBA	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.43	0.90	+0.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.37	0.46	+0.91

Correlation

The correlation between MTBA and ^GSPC is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

MTBA vs. ^GSPC - Drawdown Comparison

The maximum MTBA drawdown since its inception was -3.48%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for MTBA and ^GSPC.

Drawdown Indicators

	MTBA	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-3.48%	-56.78%	+53.30%
Max Drawdown (1Y) Largest decline over 1 year	-2.69%	-12.14%	+9.45%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.92%	—
Current Drawdown Current decline from peak	-1.80%	-6.45%	+4.65%
Average Drawdown Average peak-to-trough decline	-0.74%	-10.75%	+10.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	2.57%	-1.91%

Volatility

MTBA vs. ^GSPC - Volatility Comparison

The current volatility for Simplify MBS ETF (MTBA) is 1.65%, while S&P 500 Index (^GSPC) has a volatility of 5.34%. This indicates that MTBA experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MTBA	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.65%	5.34%	-3.69%
Volatility (6M) Calculated over the trailing 6-month period	2.09%	9.54%	-7.45%
Volatility (1Y) Calculated over the trailing 1-year period	3.33%	18.33%	-15.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.97%	16.91%	-12.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.97%	18.05%	-14.08%