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 -15.38% vs 3.87% 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 7.47% return, which is significantly higher than TLT's 0.77% return.
RFIX
- 1D
- -2.65%
- 1M
- -1.08%
- YTD
- 7.47%
- 6M
- 3.01%
- 1Y
- -15.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLT
- 1D
- 0.13%
- 1M
- 2.20%
- YTD
- 0.77%
- 6M
- 0.38%
- 1Y
- 3.87%
- 3Y*
- -1.89%
- 5Y*
- -6.59%
- 10Y*
- -1.74%
RFIX vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
RFIX Simplify Bond Bull ETF | 7.47% | -28.43% | -12.22% |
TLT iShares 20+ Year Treasury Bond ETF | 0.77% | 4.25% | -6.26% |
Correlation
The correlation between RFIX and TLT is 0.71, 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 | 0.71 |
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 0.71 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 | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.23 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.07 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.61 | 0.51 | -1.12 |
| Martin ratioReturn relative to average drawdown | -1.02 | 1.22 | -2.24 |
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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 | -25.48% | -7.58% | -17.90% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.18% | — |
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 | -32.57% | -39.82% | +7.25% |
Average DrawdownAverage peak-to-trough decline | -24.30% | -13.87% | -10.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.17% | 3.18% | +11.99% |
Volatility
RFIX vs. TLT - Volatility Comparison
Simplify Bond Bull ETF (RFIX) has a higher volatility of 8.40% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.20%. 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 | 8.40% | 2.20% | +6.20% |
Volatility (6M)Calculated over the trailing 6-month period | 20.68% | 6.62% | +14.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.00% | 9.48% | +20.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.01% | 15.82% | +15.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.01% | 14.88% | +16.13% |
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 4.65%, more than TLT's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RFIX Simplify Bond Bull ETF | 4.65% | 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 | 4.54% | 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 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RFIX has higher volatility (8.40%) compared to TLT (2.20%). In terms of maximum drawdown, RFIX dropped -38.79% vs TLT's -48.35%.
On 1-year performance, TLT leads with 3.87% vs -15.38% for RFIX. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.20%. 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 3.87% return vs -15.38%. 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.
RFIX has the higher dividend yield at 4.65%, compared with 4.54% for TLT.
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 (0.41 vs -0.51), 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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