SPIN vs. BUCK

Last updated Jun 3, 2026

SPIN (State Street US Equity Premium Income ETF) and BUCK (Simplify Treasury Option Income ETF) are both exchange-traded funds - SPIN is a Derivative Income fund actively managed by State Street, while BUCK is a Government Bonds fund actively managed by Simplify. Both are actively managed. Over the past year, SPIN returned 20.24% vs 7.95% for BUCK. At a 0.13 correlation, their price movements are largely independent. SPIN charges 0.25%/yr vs 0.35%/yr for BUCK.

Performance

SPIN vs. BUCK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street US Equity Premium Income ETF (SPIN) 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, SPIN achieves a 3.07% return, which is significantly higher than BUCK's 1.90% return.

SPIN

• 1D: -0.25%
• 1M: 2.78%
• YTD: 3.07%
• 6M: 3.87%
• 1Y: 20.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BUCK

• 1D: 0.02%
• 1M: 0.38%
• YTD: 1.90%
• 6M: 2.09%
• 1Y: 7.95%
• 3Y*: 5.27%
• 5Y*: —
• 10Y*: —

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

SPIN vs. BUCK - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPIN State Street US Equity Premium Income ETF	3.07%	14.14%	6.09%
BUCK Simplify Treasury Option Income ETF	1.90%	4.13%	1.80%

Correlation

The correlation between SPIN and BUCK is 0.10, 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 (1Y) Calculated over the trailing 1-year period	0.10
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024	0.13

SPIN vs. BUCK - Sectors Allocation Comparison

Sectors	SPIN	BUCK
Technology	39.0%	-
Communication Services	12.2%	-
Financial Services	11.5%	100.0%
Consumer Cyclical	8.7%	-
Healthcare	8.3%	-
Industrials	8.0%	-
Consumer Defensive	3.8%	-
Energy	2.9%	-
Utilities	2.3%	-
Basic Materials	2.2%	-
Real Estate	1.6%	-

Return for Risk

SPIN vs. BUCK — Risk / Return Rank

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

SPIN

SPIN Risk / Return Rank: 52
SPIN Sharpe Ratio Rank: 56
SPIN Sortino Ratio Rank: 55
SPIN Omega Ratio Rank: 59
SPIN Calmar Ratio Rank: 41
SPIN Martin Ratio Rank: 50

BUCK

BUCK Risk / Return Rank: 87
BUCK Sharpe Ratio Rank: 77
BUCK Sortino Ratio Rank: 84
BUCK Omega Ratio Rank: 86
BUCK Calmar Ratio Rank: 92
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.

SPIN vs. BUCK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street US Equity Premium Income ETF (SPIN) 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.

	SPIN	BUCK	Difference
Sharpe ratio Return per unit of total volatility	1.94	2.54	-0.60
Sortino ratio Return per unit of downside risk	2.66	3.83	-1.17
Omega ratio Gain probability vs. loss probability	1.37	1.54	-0.18
Calmar ratio Return relative to maximum drawdown	2.08	6.11	-4.03
Martin ratio Return relative to average drawdown	8.68	32.31	-23.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPIN vs. BUCK - Sharpe Ratio Comparison

The current SPIN Sharpe Ratio is 1.94, which is comparable to the BUCK Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of SPIN 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

	SPIN	BUCK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	2.54	-0.60
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	1.47	-0.51

Drawdowns

SPIN vs. BUCK - Drawdown Comparison

The maximum SPIN drawdown since its inception was -16.85%, which is greater than BUCK's maximum drawdown of -5.43%. Use the drawdown chart below to compare losses from any high point for SPIN and BUCK.

Drawdown Indicators

	SPIN	BUCK	Difference
Max Drawdown Largest peak-to-trough decline	-16.85%	-5.43%	-11.42%
Max Drawdown (1Y) Largest decline over 1 year	-9.81%	-1.31%	-8.50%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.43%	—
Current Drawdown Current decline from peak	-0.25%	-0.04%	-0.21%
Average Drawdown Average peak-to-trough decline	-2.29%	-0.49%	-1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.35%	0.25%	+2.10%

Volatility

SPIN vs. BUCK - Volatility Comparison

State Street US Equity Premium Income ETF (SPIN) has a higher volatility of 1.80% compared to Simplify Treasury Option Income ETF (BUCK) at 0.70%. This indicates that SPIN'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

	SPIN	BUCK	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.80%	0.70%	+1.10%
Volatility (6M) Calculated over the trailing 6-month period	8.05%	1.53%	+6.52%
Volatility (1Y) Calculated over the trailing 1-year period	10.48%	3.14%	+7.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.34%	3.49%	+10.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.34%	3.49%	+10.85%

SPIN vs. BUCK - Expense Ratio Comparison

SPIN has a 0.25% expense ratio, which is lower than BUCK's 0.35% expense ratio.

Dividends

SPIN vs. BUCK - Dividend Comparison

SPIN's dividend yield for the trailing twelve months is around 5.64%, less than BUCK's 7.42% yield.

Position	TTM	2025	2024	2023	2022
BUCK Simplify Treasury Option Income ETF	7.42%	7.59%	8.84%	4.84%	0.59%
SPIN State Street US Equity Premium Income ETF	5.64%	8.20%	2.36%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPIN and BUCK in my portfolio?

SPIN and BUCK have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPIN or BUCK?

SPIN has higher volatility (1.80%) compared to BUCK (0.70%). In terms of maximum drawdown, SPIN dropped -16.85% vs BUCK's -5.43%.

Which ETF is better, SPIN or BUCK?

On 1-year performance, SPIN leads with 20.24% vs 7.95% for BUCK. On fees, SPIN is cheaper at 0.25% 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, SPIN or BUCK?

Over the 1-year period, SPIN has performed better with a 20.24% return vs 7.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPIN or BUCK?

SPIN is cheaper with a 0.25% expense ratio, compared with 0.35% for BUCK.

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

BUCK has the higher dividend yield at 7.42%, compared with 5.64% for SPIN.

What is the main difference between SPIN and BUCK?

SPIN is categorized as Derivative Income, while BUCK is Government Bonds. They also come from different issuers: State Street and Simplify. Their fees differ too: 0.25% for SPIN and 0.35% for BUCK.

Which has better risk-adjusted returns?

BUCK currently has the higher Sharpe Ratio (2.54 vs 1.94), 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.