MTBA vs. SBIL
MTBA (Simplify MBS ETF) and SBIL (Simplify Government Money Market ETF) are both exchange-traded funds - MTBA is a Mortgage Backed Securities fund actively managed by Simplify, while SBIL is a Money Market fund actively managed by Simplify. Both are actively managed. At a 0.07 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.
Performance
MTBA vs. SBIL - Performance Comparison
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Returns By Period
In the year-to-date period, MTBA achieves a -0.23% return, which is significantly lower than SBIL's 1.51% return.
MTBA
- 1D
- -0.12%
- 1M
- 0.21%
- YTD
- -0.23%
- 6M
- 0.18%
- 1Y
- 5.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SBIL
- 1D
- 0.00%
- 1M
- 0.29%
- YTD
- 1.51%
- 6M
- 1.80%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MTBA vs. SBIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MTBA Simplify MBS ETF | -0.23% | 4.45% |
SBIL Simplify Government Money Market ETF | 1.51% | 1.88% |
Correlation
The correlation between MTBA and SBIL is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 16, 2025 | 0.07 |
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Return for Risk
MTBA vs. SBIL — Risk / Return Rank
MTBA
SBIL
MTBA vs. SBIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify MBS ETF (MTBA) 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.
| MTBA | SBIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.32 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | — | — |
| Martin ratioReturn relative to average drawdown | 6.28 | — | — |
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
| MTBA | SBIL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.68 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.30 | 14.09 | -12.79 |
Drawdowns
MTBA vs. SBIL - Drawdown Comparison
The maximum MTBA drawdown since its inception was -3.48%, which is greater than SBIL's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for MTBA and SBIL.
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Drawdown Indicators
| MTBA | SBIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.48% | -0.03% | -3.45% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | — | — |
Current DrawdownCurrent decline from peak | -1.60% | 0.00% | -1.60% |
Average DrawdownAverage peak-to-trough decline | -0.79% | -0.00% | -0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | — | — |
Volatility
MTBA vs. SBIL - Volatility Comparison
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Volatility by Period
| MTBA | SBIL | 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 | 3.10% | 0.28% | +2.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.95% | 0.28% | +3.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.95% | 0.28% | +3.67% |
MTBA vs. SBIL - Expense Ratio Comparison
Both MTBA and SBIL have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
MTBA vs. SBIL - Dividend Comparison
MTBA's dividend yield for the trailing twelve months is around 6.09%, more than SBIL's 3.26% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
MTBA Simplify MBS ETF | 6.09% | 5.98% | 6.03% | 0.48% |
SBIL Simplify Government Money Market ETF | 3.26% | 1.79% | 0.00% | 0.00% |
Frequently Asked Questions
MTBA and SBIL have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
MTBA and SBIL have the same expense ratio: 0.15% per year.
MTBA has the higher dividend yield at 6.09%, compared with 3.26% for SBIL.
MTBA is categorized as Mortgage Backed Securities, while SBIL is Money Market.
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