RFIX vs. TLT
RFIX (Simplify Bond Bull ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - RFIX is a Nontraditional Bonds fund actively managed by Simplify, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. RFIX is actively managed, while TLT is passively managed. Over the past year, RFIX returned -11.17% vs 2.34% for TLT. A 0.78 correlation means they provide meaningful diversification when combined. RFIX charges 0.50%/yr vs 0.15%/yr for TLT.
Performance
RFIX vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, RFIX achieves a 6.11% return, which is significantly higher than TLT's -1.48% return.
RFIX
- 1D
- 1.28%
- 1M
- -1.57%
- 6M
- 6.20%
- YTD
- 6.11%
- 1Y
- -11.17%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLT
- 1D
- -0.59%
- 1M
- -1.74%
- 6M
- -2.05%
- YTD
- -1.48%
- 1Y
- 2.34%
- 3Y*
- -2.07%
- 5Y*
- -7.47%
- 10Y*
- -2.17%
RFIX vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
RFIX Simplify Bond Bull ETF | 6.11% | -28.43% | -12.22% |
TLT iShares 20+ Year Treasury Bond ETF | -1.48% | 4.25% | -6.26% |
Correlation
The correlation between RFIX and TLT is 0.68, 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 | 0.68 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2024 | 0.78 |
The correlation between RFIX and TLT has been stable across timeframes, ranging from 0.68 to 0.78 - a consistent structural relationship.
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Return for Risk
RFIX vs. TLT — Risk / Return Rank
RFIX
TLT
RFIX vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Bond Bull ETF (RFIX) and iShares 20+ Year Treasury Bond ETF (TLT). 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.
| RFIX | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.05 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 0.31 | -0.83 |
| Martin ratioReturn relative to average drawdown | -0.96 | 0.72 | -1.69 |
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Drawdowns
RFIX vs. TLT - Drawdown Comparison
The maximum RFIX drawdown since its inception was -38.79%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for RFIX and TLT.
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Drawdown Indicators
| RFIX | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.79% | -48.35% | +9.56% |
Max Drawdown (1Y)Largest decline over 1 year | -21.63% | -7.58% | -14.05% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.88% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -33.42% | -41.16% | +7.74% |
Average DrawdownAverage peak-to-trough decline | -24.56% | -13.93% | -10.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.60% | 3.25% | +8.35% |
Volatility
RFIX vs. TLT - Volatility Comparison
Simplify Bond Bull ETF (RFIX) has a higher volatility of 9.27% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.92%. This indicates that RFIX's price experiences larger fluctuations and is considered to be riskier than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RFIX | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.27% | 2.92% | +6.35% |
Volatility (6M)Calculated over the trailing 6-month period | 20.43% | 6.83% | +13.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.74% | 9.40% | +20.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.85% | 15.80% | +15.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.85% | 14.84% | +16.01% |
RFIX vs. TLT - Expense Ratio Comparison
RFIX has a 0.50% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
RFIX vs. TLT - Dividend Comparison
RFIX's dividend yield for the trailing twelve months is around 4.56%, less than TLT's 4.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RFIX Simplify Bond Bull ETF | 4.56% | 5.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.65% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
RFIX and TLT have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RFIX has higher volatility (9.27%) compared to TLT (2.92%). In terms of maximum drawdown, RFIX dropped -38.79% vs TLT's -48.35%.
On 1-year performance, TLT leads with 2.34% vs -11.17% for RFIX. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TLT has performed better with a 2.34% return vs -11.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TLT is cheaper with a 0.15% expense ratio, compared with 0.50% for RFIX.
TLT has the higher dividend yield at 4.65%, compared with 4.56% for RFIX.
RFIX is categorized as Nontraditional Bonds, while TLT is Government Bonds. They also come from different issuers: Simplify and iShares. Their fees differ too: 0.50% for RFIX and 0.15% for TLT.
TLT currently has the higher Sharpe Ratio (0.25 vs -0.38), 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.
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