SBIL vs. IQMM

Last updated Jun 23, 2026

SBIL (Simplify Government Money Market ETF) and IQMM (ProShares GENIUS Money Market ETF) are both Money Market funds. Both are actively managed. At a 0.05 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.

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.

Returns By Period

SBIL

• 1D: 0.00%
• 1M: 0.24%
• YTD: 1.66%
• 6M: 1.74%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IQMM

• 1D: 0.01%
• 1M: 0.26%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SBIL vs. IQMM - Yearly Performance Comparison

	2026 (YTD)
SBIL Simplify Government Money Market ETF	1.17%
IQMM ProShares GENIUS Money Market ETF	1.20%

Correlation

The correlation between SBIL and IQMM is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 19, 2026	0.05

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.

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.

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

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 -0.02%. 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%	-0.02%	-0.01%
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	0.27%	0.21%	+0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.27%	0.21%	+0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.27%	0.21%	+0.06%

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%.

Dividends

SBIL vs. IQMM - Dividend Comparison

SBIL's dividend yield for the trailing twelve months is around 3.25%, more than IQMM's 1.08% yield.

Position	TTM	2025
IQMM ProShares GENIUS Money Market ETF	1.08%	0.00%
SBIL Simplify Government Money Market ETF	3.25%	1.79%

Frequently Asked Questions

Can I hold both SBIL and IQMM in my portfolio?

SBIL and IQMM have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SBIL or IQMM?

Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SBIL or IQMM?

SBIL and IQMM have the same expense ratio: 0.15% per year.

Which ETF pays a higher dividend yield, SBIL or IQMM?

SBIL has the higher dividend yield at 3.25%, compared with 1.08% for IQMM.

What is the main difference between SBIL and IQMM?

They also come from different issuers: Simplify and ProShares.