NXTI vs. MTBA

Last updated Jun 24, 2026

NXTI (Simplify NEXT Intangible Core Index ETF) and MTBA (Simplify MBS ETF) are both exchange-traded funds - NXTI is a Large Cap Blend Equities fund tracking the NEXT Intangible Core Index, while MTBA is a Mortgage Backed Securities fund actively managed by Simplify. NXTI is passively managed, while MTBA is actively managed. Over the past year, NXTI returned 14.41% vs 4.42% for MTBA. At a 0.22 correlation, their price movements are largely independent. NXTI charges 0.25%/yr vs 0.15%/yr for MTBA.

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.

Returns By Period

In the year-to-date period, NXTI achieves a 5.40% return, which is significantly higher than MTBA's -0.06% return.

NXTI

• 1D: -0.31%
• 1M: 1.80%
• YTD: 5.40%
• 6M: 3.62%
• 1Y: 14.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MTBA

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

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

NXTI vs. MTBA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NXTI Simplify NEXT Intangible Core Index ETF	5.40%	16.73%	16.21%
MTBA Simplify MBS ETF	-0.06%	7.74%	3.90%

Correlation

The correlation between NXTI and MTBA is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Apr 16, 2024	0.22

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: 26
NXTI Sharpe Ratio Rank: 28
NXTI Sortino Ratio Rank: 27
NXTI Omega Ratio Rank: 26
NXTI Calmar Ratio Rank: 25
NXTI Martin Ratio Rank: 24

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

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.

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.

	NXTI	MTBA	Difference
Sharpe ratio: Return per unit of total volatility	0.96	1.43	-0.47
Sortino ratio: Return per unit of downside risk	1.39	2.02	-0.63
Omega ratio: Gain probability vs. loss probability	1.17	1.28	-0.11
Calmar ratio: Return relative to maximum drawdown	1.11	1.57	-0.46
Martin ratio: Return relative to average drawdown	2.97	4.96	-1.99

NXTI vs. MTBA - Sharpe Ratio Comparison

The current NXTI Sharpe Ratio is 0.96, which is lower than the MTBA Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of NXTI 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

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%	-2.82%	-10.17%
Current Drawdown Current decline from peak	-3.37%	-1.44%	-1.93%
Average Drawdown Average peak-to-trough decline	-3.22%	-0.80%	-2.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.87%	0.89%	+3.98%

Volatility

NXTI vs. MTBA - Volatility Comparison

Simplify NEXT Intangible Core Index ETF (NXTI) has a higher volatility of 5.69% compared to Simplify MBS ETF (MTBA) at 0.96%. 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	5.69%	0.96%	+4.73%
Volatility (6M) Calculated over the trailing 6-month period	12.06%	2.57%	+9.49%
Volatility (1Y) Calculated over the trailing 1-year period	15.11%	3.10%	+12.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.16%	3.95%	+13.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.16%	3.95%	+13.21%

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%.

Dividends

NXTI vs. MTBA - Dividend Comparison

NXTI's dividend yield for the trailing twelve months is around 0.59%, less than MTBA's 6.08% yield.

Position	TTM	2025	2024	2023
MTBA Simplify MBS ETF	6.08%	5.98%	6.03%	0.48%
NXTI Simplify NEXT Intangible Core Index ETF	0.59%	0.62%	3.70%	0.00%

Frequently Asked Questions

Can I hold both NXTI and MTBA in my portfolio?

NXTI and MTBA have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NXTI or MTBA?

NXTI has higher volatility (5.69%) compared to MTBA (0.96%). In terms of maximum drawdown, NXTI dropped -19.65% vs MTBA's -3.48%.

Which ETF is better, NXTI or MTBA?

On 1-year performance, NXTI leads with 14.41% vs 4.42% for MTBA. On fees, MTBA is cheaper at 0.15% per year. On volatility, MTBA has been the lower-risk option at 0.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NXTI or MTBA?

Over the 1-year period, NXTI has performed better with a 14.41% return vs 4.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NXTI or MTBA?

MTBA is cheaper with a 0.15% expense ratio, compared with 0.25% for NXTI.

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

MTBA has the higher dividend yield at 6.08%, compared with 0.59% for NXTI.

What is the main difference between NXTI and MTBA?

NXTI is categorized as Large Cap Blend Equities, while MTBA is Mortgage Backed Securities. Their fees differ too: 0.25% for NXTI and 0.15% for MTBA.

Which has better risk-adjusted returns?

MTBA currently has the higher Sharpe Ratio (1.43 vs 0.96), 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.