NXTI vs. MTBA

Last updated Apr 1, 2026

Compare and contrast key facts about Simplify NEXT Intangible Core Index ETF (NXTI) and Simplify MBS ETF (MTBA).

NXTI and MTBA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NXTI is a passively managed fund by Simplify that tracks the performance of the NEXT Intangible Core Index. It was launched on Apr 15, 2024. MTBA is an actively managed fund by Simplify. It was launched on Nov 6, 2023.

Performance

NXTI vs. MTBA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify NEXT Intangible Core Index ETF (NXTI) and Simplify MBS ETF (MTBA). The values are adjusted to include any dividend payments, if applicable.

NXTI vs. MTBA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NXTI Simplify NEXT Intangible Core Index ETF	-8.54%	16.73%	16.21%
MTBA Simplify MBS ETF	-0.43%	7.74%	4.25%

Returns By Period

In the year-to-date period, NXTI achieves a -8.54% return, which is significantly lower than MTBA's -0.43% return.

NXTI

• 1D: 2.05%
• 1M: -3.77%
• YTD: -8.54%
• 6M: -8.84%
• 1Y: 8.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MTBA

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

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

NXTI vs. MTBA - Expense Ratio Comparison

NXTI has a 0.25% expense ratio, which is higher than MTBA'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%.

NXTI

Simplify NEXT Intangible Core Index ETF

MTBA

Simplify MBS ETF

Return for Risk

NXTI vs. MTBA — Risk / Return Rank

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

NXTI

NXTI Risk / Return Rank: 25
NXTI Sharpe Ratio Rank: 23
NXTI Sortino Ratio Rank: 24
NXTI Omega Ratio Rank: 23
NXTI Calmar Ratio Rank: 27
NXTI Martin Ratio Rank: 25

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

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.

NXTI vs. MTBA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify NEXT Intangible Core Index ETF (NXTI) 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.

	NXTI	MTBA	Difference
Sharpe ratio Return per unit of total volatility	0.40	1.43	-1.03
Sortino ratio Return per unit of downside risk	0.72	1.97	-1.25
Omega ratio Gain probability vs. loss probability	1.10	1.27	-0.17
Calmar ratio Return relative to maximum drawdown	0.66	1.80	-1.14
Martin ratio Return relative to average drawdown	1.96	7.36	-5.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NXTI vs. MTBA - Sharpe Ratio Comparison

The current NXTI Sharpe Ratio is 0.40, which is lower than the MTBA Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of NXTI and MTBA, 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

	NXTI	MTBA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.40	1.43	-1.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	1.37	-0.69

Correlation

The correlation between NXTI and MTBA 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.

Dividends

NXTI vs. MTBA - Dividend Comparison

NXTI's dividend yield for the trailing twelve months is around 0.68%, less than MTBA's 6.08% yield.

	TTM	2025	2024	2023
NXTI Simplify NEXT Intangible Core Index ETF	0.68%	0.62%	3.70%	0.00%
MTBA Simplify MBS ETF	6.08%	5.98%	6.03%	0.48%

Drawdowns

NXTI vs. MTBA - Drawdown Comparison

The maximum NXTI drawdown since its inception was -19.65%, which is greater than MTBA's maximum drawdown of -3.48%. Use the drawdown chart below to compare losses from any high point for NXTI and MTBA.

Drawdown Indicators

	NXTI	MTBA	Difference
Max Drawdown Largest peak-to-trough decline	-19.65%	-3.48%	-16.17%
Max Drawdown (1Y) Largest decline over 1 year	-12.99%	-2.69%	-10.30%
Current Drawdown Current decline from peak	-11.21%	-1.80%	-9.41%
Average Drawdown Average peak-to-trough decline	-3.06%	-0.74%	-2.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.40%	0.66%	+3.74%

Volatility

NXTI vs. MTBA - Volatility Comparison

Simplify NEXT Intangible Core Index ETF (NXTI) has a higher volatility of 4.73% compared to Simplify MBS ETF (MTBA) at 1.65%. This indicates that NXTI's price experiences larger fluctuations and is considered to be riskier than MTBA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NXTI	MTBA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.73%	1.65%	+3.08%
Volatility (6M) Calculated over the trailing 6-month period	11.63%	2.09%	+9.54%
Volatility (1Y) Calculated over the trailing 1-year period	20.07%	3.33%	+16.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.35%	3.97%	+13.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.35%	3.97%	+13.38%