SBIL vs. IQMM

Last updated Apr 1, 2026

Compare and contrast key facts about Simplify Government Money Market ETF (SBIL) and ProShares GENIUS Money Market ETF (IQMM).

SBIL and IQMM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SBIL is an actively managed fund by Simplify. It was launched on Jul 14, 2025. IQMM is an actively managed fund by ProShares. It was launched on Feb 17, 2026.

Performance

SBIL vs. IQMM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Government Money Market ETF (SBIL) and ProShares GENIUS Money Market ETF (IQMM). The values are adjusted to include any dividend payments, if applicable.

SBIL vs. IQMM - Yearly Performance Comparison

	2026 (YTD)
SBIL Simplify Government Money Market ETF	0.38%
IQMM ProShares GENIUS Money Market ETF	0.36%

Returns By Period

SBIL

• 1D: -0.00%
• 1M: 0.27%
• YTD: 0.86%
• 6M: 1.85%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IQMM

• 1D: -0.00%
• 1M: 0.29%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SBIL vs. IQMM - Expense Ratio Comparison

Both SBIL and IQMM have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

SBIL

Simplify Government Money Market ETF

IQMM

ProShares GENIUS Money Market ETF

Return for Risk

SBIL vs. IQMM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Government Money Market ETF (SBIL) and ProShares GENIUS Money Market ETF (IQMM). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SBIL	IQMM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	14.25	21.20	-6.94

Correlation

The correlation between SBIL and IQMM is -0.13. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

SBIL vs. IQMM - Dividend Comparison

SBIL's dividend yield for the trailing twelve months is around 2.68%, more than IQMM's 0.33% yield.

	TTM	2025
SBIL Simplify Government Money Market ETF	2.68%	1.79%
IQMM ProShares GENIUS Money Market ETF	0.33%	0.00%

Drawdowns

SBIL vs. IQMM - Drawdown Comparison

The maximum SBIL drawdown since its inception was -0.03%, which is greater than IQMM's maximum drawdown of -0.00%. Use the drawdown chart below to compare losses from any high point for SBIL and IQMM.

Drawdown Indicators

	SBIL	IQMM	Difference
Max Drawdown Largest peak-to-trough decline	-0.03%	0.00%	-0.03%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	0.00%	0.00%	0.00%

Volatility

Volatility by Period

	SBIL	IQMM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	0.28%	0.16%	+0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.28%	0.16%	+0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.28%	0.16%	+0.12%