MTGP vs. MTBA

Last updated Jun 23, 2026

MTGP (WisdomTree Mortgage Plus Bond Fund) and MTBA (Simplify MBS ETF) are both Mortgage Backed Securities funds. Both are actively managed. Over the past year, MTGP returned 5.31% vs 4.63% for MTBA. Their correlation of 0.81 suggests significant overlap in exposure. MTGP charges 0.45%/yr vs 0.15%/yr for MTBA.

Performance

MTGP vs. MTBA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Mortgage Plus Bond Fund (MTGP) and Simplify MBS ETF (MTBA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MTGP achieves a 0.56% return, which is significantly higher than MTBA's -0.06% return.

MTGP

• 1D: -0.18%
• 1M: 0.70%
• YTD: 0.56%
• 6M: 0.55%
• 1Y: 5.31%
• 3Y*: 4.37%
• 5Y*: 0.35%
• 10Y*: —

MTBA

• 1D: -0.12%
• 1M: 0.59%
• YTD: -0.06%
• 6M: 0.09%
• 1Y: 4.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MTGP vs. MTBA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MTGP WisdomTree Mortgage Plus Bond Fund	0.56%	7.57%	2.48%	6.63%
MTBA Simplify MBS ETF	-0.06%	7.74%	1.99%	3.67%

Correlation

The correlation between MTGP and MTBA is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (All Time) Calculated using the full available price history since Nov 7, 2023	0.81

The correlation between MTGP and MTBA has been stable across timeframes, ranging from 0.79 to 0.81 - a consistent structural relationship.

Return for Risk

MTGP vs. MTBA — Risk / Return Rank

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

MTGP

MTGP Risk / Return Rank: 35
MTGP Sharpe Ratio Rank: 32
MTGP Sortino Ratio Rank: 31
MTGP Omega Ratio Rank: 32
MTGP Calmar Ratio Rank: 44
MTGP Martin Ratio Rank: 36

MTBA

MTBA Risk / Return Rank: 40
MTBA Sharpe Ratio Rank: 44
MTBA Sortino Ratio Rank: 43
MTBA Omega Ratio Rank: 46
MTBA Calmar Ratio Rank: 34
MTBA Martin Ratio Rank: 35

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.

MTGP vs. MTBA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Mortgage Plus Bond Fund (MTGP) and Simplify MBS ETF (MTBA). 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.

	MTGP	MTBA	Difference
Sharpe ratio: Return per unit of total volatility	1.13	1.50	-0.37
Sortino ratio: Return per unit of downside risk	1.63	2.11	-0.49
Omega ratio: Gain probability vs. loss probability	1.21	1.29	-0.08
Calmar ratio: Return relative to maximum drawdown	2.11	1.65	+0.46
Martin ratio: Return relative to average drawdown	5.40	5.22	+0.18

MTGP vs. MTBA - Sharpe Ratio Comparison

The current MTGP Sharpe Ratio is 1.13, which is comparable to the MTBA Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of MTGP and MTBA, 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

MTGP vs. MTBA - Drawdown Comparison

The maximum MTGP drawdown since its inception was -16.63%, which is greater than MTBA's maximum drawdown of -3.48%. Use the drawdown chart below to compare losses from any high point for MTGP and MTBA.

Drawdown Indicators

	MTGP	MTBA	Difference
Max Drawdown Largest peak-to-trough decline	-16.63%	-3.48%	-13.15%
Max Drawdown (1Y) Largest decline over 1 year	-2.53%	-2.82%	+0.29%
Max Drawdown (3Y) Largest decline over 3 years	-6.46%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.63%	—	—
Current Drawdown Current decline from peak	-1.18%	-1.44%	+0.26%
Average Drawdown Average peak-to-trough decline	-5.08%	-0.80%	-4.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	0.89%	+0.10%

Volatility

MTGP vs. MTBA - Volatility Comparison

WisdomTree Mortgage Plus Bond Fund (MTGP) and Simplify MBS ETF (MTBA) have volatilities of 0.96% and 0.97%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MTGP	MTBA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	0.97%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	3.10%	2.58%	+0.52%
Volatility (1Y) Calculated over the trailing 1-year period	4.74%	3.11%	+1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.80%	3.95%	+1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.24%	3.95%	+1.29%

MTGP vs. MTBA - Expense Ratio Comparison

MTGP has a 0.45% expense ratio, which is higher than MTBA's 0.15% expense ratio.

Dividends

MTGP vs. MTBA - Dividend Comparison

MTGP's dividend yield for the trailing twelve months is around 4.31%, less than MTBA's 6.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
MTBA Simplify MBS ETF	6.08%	5.98%	6.03%	0.48%	0.00%	0.00%	0.00%
MTGP WisdomTree Mortgage Plus Bond Fund	4.31%	4.19%	4.05%	3.02%	2.47%	1.64%	2.61%

Frequently Asked Questions

Can I hold both MTGP and MTBA in my portfolio?

MTGP and MTBA have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MTGP or MTBA?

MTBA has higher volatility (0.97%) compared to MTGP (0.96%). In terms of maximum drawdown, MTGP dropped -16.63% vs MTBA's -3.48%.

Which ETF is better, MTGP or MTBA?

On 1-year performance, MTGP leads with 5.31% vs 4.63% for MTBA. On fees, MTBA 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, MTGP or MTBA?

Over the 1-year period, MTGP has performed better with a 5.31% return vs 4.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MTGP or MTBA?

MTBA is cheaper with a 0.15% expense ratio, compared with 0.45% for MTGP.

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

MTBA has the higher dividend yield at 6.08%, compared with 4.31% for MTGP.

What is the main difference between MTGP and MTBA?

They also come from different issuers: WisdomTree and Simplify. Their fees differ too: 0.45% for MTGP and 0.15% for MTBA.

Which has better risk-adjusted returns?

MTBA currently has the higher Sharpe Ratio (1.50 vs 1.13), 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.