SLNZ vs. BUCK

Last updated Jun 5, 2026

SLNZ (TCW Senior Loan ETF) and BUCK (Simplify Treasury Option Income ETF) are both exchange-traded funds - SLNZ is a Bank Loan fund actively managed by TCW, while BUCK is a Government Bonds fund actively managed by Simplify. Both are actively managed. Over the past year, SLNZ returned 4.56% vs 7.46% for BUCK. At a correlation of -0.10, they often move in opposite directions. SLNZ charges 0.65%/yr vs 0.35%/yr for BUCK.

Performance

SLNZ vs. BUCK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Senior Loan ETF (SLNZ) and Simplify Treasury Option Income ETF (BUCK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLNZ achieves a 1.61% return, which is significantly lower than BUCK's 1.99% return.

SLNZ

• 1D: 0.03%
• 1M: 0.82%
• YTD: 1.61%
• 6M: 2.01%
• 1Y: 4.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BUCK

• 1D: 0.09%
• 1M: 0.43%
• YTD: 1.99%
• 6M: 1.92%
• 1Y: 7.46%
• 3Y*: 5.27%
• 5Y*: —
• 10Y*: —

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

SLNZ vs. BUCK - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SLNZ TCW Senior Loan ETF	1.61%	5.21%	0.87%
BUCK Simplify Treasury Option Income ETF	1.99%	4.13%	0.49%

Correlation

The correlation between SLNZ and BUCK is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (All Time) Calculated using the full available price history since Nov 19, 2024	-0.10

SLNZ vs. BUCK - Sectors Allocation Comparison

Sectors	SLNZ	BUCK
Healthcare	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	100.0%
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

SLNZ vs. BUCK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SLNZ

SLNZ Risk / Return Rank: 32
SLNZ Sharpe Ratio Rank: 29
SLNZ Sortino Ratio Rank: 26
SLNZ Omega Ratio Rank: 31
SLNZ Calmar Ratio Rank: 37
SLNZ Martin Ratio Rank: 37

BUCK

BUCK Risk / Return Rank: 85
BUCK Sharpe Ratio Rank: 76
BUCK Sortino Ratio Rank: 81
BUCK Omega Ratio Rank: 85
BUCK Calmar Ratio Rank: 91
BUCK Martin Ratio Rank: 95

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.

SLNZ vs. BUCK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Senior Loan ETF (SLNZ) and Simplify Treasury Option Income ETF (BUCK). 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.

	SLNZ	BUCK	Difference
Sharpe ratio: Return per unit of total volatility	1.04	2.42	-1.38
Sortino ratio: Return per unit of downside risk	1.41	3.60	-2.19
Omega ratio: Gain probability vs. loss probability	1.20	1.51	-0.31
Calmar ratio: Return relative to maximum drawdown	1.79	5.73	-3.94
Martin ratio: Return relative to average drawdown	5.56	30.33	-24.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SLNZ vs. BUCK - Sharpe Ratio Comparison

The current SLNZ Sharpe Ratio is 1.04, which is lower than the BUCK Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of SLNZ and BUCK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SLNZ	BUCK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	2.42	-1.38
Sharpe Ratio (All Time) Calculated using the full available price history	1.18	1.48	-0.29

Drawdowns

SLNZ vs. BUCK - Drawdown Comparison

The maximum SLNZ drawdown since its inception was -2.57%, smaller than the maximum BUCK drawdown of -5.43%. Use the drawdown chart below to compare losses from any high point for SLNZ and BUCK.

Drawdown Indicators

	SLNZ	BUCK	Difference
Max Drawdown Largest peak-to-trough decline	-2.57%	-5.43%	+2.86%
Max Drawdown (1Y) Largest decline over 1 year	-2.57%	-1.31%	-1.26%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.43%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.45%	-0.49%	+0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.82%	0.25%	+0.57%

Volatility

SLNZ vs. BUCK - Volatility Comparison

TCW Senior Loan ETF (SLNZ) has a higher volatility of 1.46% compared to Simplify Treasury Option Income ETF (BUCK) at 0.70%. This indicates that SLNZ's price experiences larger fluctuations and is considered to be riskier than BUCK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLNZ	BUCK	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.46%	0.70%	+0.76%
Volatility (6M) Calculated over the trailing 6-month period	3.89%	1.52%	+2.37%
Volatility (1Y) Calculated over the trailing 1-year period	4.42%	3.14%	+1.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.28%	3.48%	+0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.28%	3.48%	+0.80%

SLNZ vs. BUCK - Expense Ratio Comparison

SLNZ has a 0.65% expense ratio, which is higher than BUCK's 0.35% expense ratio.

Dividends

SLNZ vs. BUCK - Dividend Comparison

SLNZ's dividend yield for the trailing twelve months is around 7.54%, more than BUCK's 7.41% yield.

Position	TTM	2025	2024	2023	2022
BUCK Simplify Treasury Option Income ETF	7.41%	7.59%	8.84%	4.84%	0.59%
SLNZ TCW Senior Loan ETF	7.54%	7.39%	1.39%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SLNZ and BUCK in my portfolio?

SLNZ and BUCK have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SLNZ or BUCK?

SLNZ has higher volatility (1.46%) compared to BUCK (0.70%). In terms of maximum drawdown, SLNZ dropped -2.57% vs BUCK's -5.43%.

Which ETF is better, SLNZ or BUCK?

On 1-year performance, BUCK leads with 7.46% vs 4.56% for SLNZ. On fees, BUCK is cheaper at 0.35% per year. On volatility, BUCK has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SLNZ or BUCK?

Over the 1-year period, BUCK has performed better with a 7.46% return vs 4.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SLNZ or BUCK?

BUCK is cheaper with a 0.35% expense ratio, compared with 0.65% for SLNZ.

Which ETF pays a higher dividend yield, SLNZ or BUCK?

SLNZ has the higher dividend yield at 7.54%, compared with 7.41% for BUCK.

What is the main difference between SLNZ and BUCK?

SLNZ is categorized as Bank Loan, while BUCK is Government Bonds. They also come from different issuers: TCW and Simplify. Their fees differ too: 0.65% for SLNZ and 0.35% for BUCK.

Which has better risk-adjusted returns?

BUCK currently has the higher Sharpe Ratio (2.42 vs 1.04), 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.