MTBA vs. SDMF

Last updated Jun 24, 2026

MTBA (Simplify MBS ETF) and SDMF (Simplify DBi CTA Managed Futures Index ETF) are both exchange-traded funds - MTBA is a Mortgage Backed Securities fund actively managed by Simplify, while SDMF is a Systematic Trend fund tracking the DBi CTA Managed Futures Index. MTBA is actively managed, while SDMF is passively managed. At a 0.01 correlation, their price movements are largely independent. MTBA charges 0.15%/yr vs 0.35%/yr for SDMF.

Performance

MTBA vs. SDMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify MBS ETF (MTBA) and Simplify DBi CTA Managed Futures Index ETF (SDMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MTBA

• 1D: 0.00%
• 1M: 0.59%
• YTD: -0.06%
• 6M: 0.09%
• 1Y: 4.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SDMF

• 1D: -1.31%
• 1M: -1.80%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MTBA vs. SDMF - Yearly Performance Comparison

	2026 (YTD)
MTBA Simplify MBS ETF	-1.07%
SDMF Simplify DBi CTA Managed Futures Index ETF	0.56%

Correlation

The correlation between MTBA and SDMF is 0.01, 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 Feb 19, 2026	0.01

Return for Risk

MTBA vs. SDMF — Risk / Return Rank

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

MTBA

MTBA Risk / Return Rank: 39
MTBA Sharpe Ratio Rank: 42
MTBA Sortino Ratio Rank: 41
MTBA Omega Ratio Rank: 44
MTBA Calmar Ratio Rank: 33
MTBA Martin Ratio Rank: 34

SDMF

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

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. SDMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify MBS ETF (MTBA) and Simplify DBi CTA Managed Futures Index ETF (SDMF). 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.

	MTBA	SDMF	Difference
Sharpe ratio: Return per unit of total volatility	1.43	—	—
Sortino ratio: Return per unit of downside risk	2.02	—	—
Omega ratio: Gain probability vs. loss probability	1.28	—	—
Calmar ratio: Return relative to maximum drawdown	1.57	—	—
Martin ratio: Return relative to average drawdown	4.96	—	—

Drawdowns

MTBA vs. SDMF - Drawdown Comparison

The maximum MTBA drawdown since its inception was -3.48%, smaller than the maximum SDMF drawdown of -6.23%. Use the drawdown chart below to compare losses from any high point for MTBA and SDMF.

Drawdown Indicators

	MTBA	SDMF	Difference
Max Drawdown Largest peak-to-trough decline	-3.48%	-6.23%	+2.75%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	—	—
Current Drawdown Current decline from peak	-1.44%	-2.72%	+1.28%
Average Drawdown Average peak-to-trough decline	-0.80%	-2.18%	+1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	—	—

Volatility

Volatility by Period

	MTBA	SDMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.10%	13.16%	-10.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.95%	13.16%	-9.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.95%	13.16%	-9.21%

MTBA vs. SDMF - Expense Ratio Comparison

MTBA has a 0.15% expense ratio, which is lower than SDMF's 0.35% expense ratio.

Dividends

MTBA vs. SDMF - Dividend Comparison

MTBA's dividend yield for the trailing twelve months is around 6.08%, while SDMF has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
MTBA Simplify MBS ETF	6.08%	5.98%	6.03%	0.48%
SDMF Simplify DBi CTA Managed Futures Index ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MTBA and SDMF in my portfolio?

MTBA and SDMF have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MTBA or SDMF?

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, MTBA or SDMF?

MTBA is cheaper with a 0.15% expense ratio, compared with 0.35% for SDMF.

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

MTBA has the higher dividend yield at 6.08%, compared with 0.00% for SDMF.

What is the main difference between MTBA and SDMF?

MTBA is categorized as Mortgage Backed Securities, while SDMF is Systematic Trend. Their fees differ too: 0.15% for MTBA and 0.35% for SDMF.