SVIX vs. TYA

Last updated Aug 2, 2026

SVIX (-1x Short VIX Futures ETF) and TYA (Simplify Intermediate Term Treasury Futures Strategy ETF) are both exchange-traded funds - SVIX is a Volatility fund tracking the Short VIX Futures Index, while TYA is a Government Bonds fund actively managed by Simplify. SVIX is passively managed, while TYA is actively managed. Over the past 3 years, SVIX returned -6.83%/yr vs -0.87%/yr for TYA. Their 0.05 correlation means their historical movements had little consistent relationship. SVIX charges 1.47%/yr vs 0.15%/yr for TYA.

Performance

SVIX vs. TYA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in -1x Short VIX Futures ETF (SVIX) and Simplify Intermediate Term Treasury Futures Strategy ETF (TYA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SVIX achieves a -0.08% return, which is significantly higher than TYA's -7.86% return.

SVIX

• 1D: 3.02%
• 1M: 1.89%
• 6M: 6.65%
• YTD: -0.08%
• 1Y: 51.31%
• 3Y*: -6.83%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.88%

TYA

• 1D: -0.73%
• 1M: -3.46%
• 6M: -7.00%
• YTD: -7.86%
• 1Y: -6.50%
• 3Y*: -0.87%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -10.77%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SVIX -1x Short VIX Futures ETF	$67.82M	$60.76M	$62.62M
TYA Simplify Intermediate Term Treasury Futures Strategy ETF	$285.08K	$301.16K	$687.50K

SVIX vs. TYA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SVIX -1x Short VIX Futures ETF	-0.08%	-4.49%	-32.76%	157.37%	-1.48%
TYA Simplify Intermediate Term Treasury Futures Strategy ETF	-7.86%	14.38%	-9.63%	-2.23%	-22.44%

Correlation

The correlation between SVIX and TYA is 0.10, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.10
Correlation (3Y) Balances recent behavior with more history.	0.05
Correlation (All Time) Calculated using the full available price history since Mar 30, 2022	0.05

Return for Risk

SVIX vs. TYA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SVIX

SVIX Risk / Return Rank: 31
SVIX Sharpe Ratio Rank: 29
SVIX Sortino Ratio Rank: 32
SVIX Omega Ratio Rank: 34
SVIX Calmar Ratio Rank: 28
SVIX Martin Ratio Rank: 30

TYA

TYA Risk / Return Rank: 7
TYA Sharpe Ratio Rank: 7
TYA Sortino Ratio Rank: 7
TYA Omega Ratio Rank: 7
TYA Calmar Ratio Rank: 7
TYA Martin Ratio Rank: 7

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SVIX vs. TYA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for -1x Short VIX Futures ETF (SVIX) and Simplify Intermediate Term Treasury Futures Strategy ETF (TYA). 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.

	SVIX	TYA	Difference
Sharpe ratio: Return per unit of total volatility	0.70	-0.27	+0.96
Sortino ratio: Return per unit of downside risk	1.21	-0.30	+1.51
Omega ratio: Gain probability vs. loss probability	1.16	0.97	+0.20
Calmar ratio: Return relative to maximum drawdown	0.92	-0.27	+1.19
Martin ratio: Return relative to average drawdown	2.61	-0.58	+3.20

SVIX vs. TYA - Sharpe Ratio Comparison

The current SVIX Sharpe Ratio is 0.70, which is higher than the TYA Sharpe Ratio of -0.27. The chart below compares the historical Sharpe Ratios of SVIX and TYA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SVIX vs. TYA - Drawdown Comparison

The maximum SVIX drawdown since its inception was -79.30%, which is greater than TYA's maximum drawdown of -51.15%. Use the drawdown chart below to compare losses from any high point for SVIX and TYA.

Drawdown Indicators

	SVIX	TYA	Difference
Max Drawdown Largest peak-to-trough decline	-79.30%	-51.15%	-28.15%
Max Drawdown (1Y) Largest decline over 1 year	-42.69%	-12.24%	-30.45%
Max Drawdown (3Y) Largest decline over 3 years	-79.30%	-19.13%	-60.17%
Current Drawdown Current decline from peak	-52.28%	-43.21%	-9.07%
Average Drawdown Average peak-to-trough decline	-32.40%	-36.02%	+3.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.03%	5.63%	+9.40%

Volatility

SVIX vs. TYA - Volatility Comparison

-1x Short VIX Futures ETF (SVIX) has a higher volatility of 14.34% compared to Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) at 3.24%. This indicates that SVIX's price experiences larger fluctuations and is considered to be riskier than TYA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SVIX	TYA	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.34%	3.24%	+11.10%
Volatility (6M) Calculated over the trailing 6-month period	42.92%	9.62%	+33.30%
Volatility (1Y) Calculated over the trailing 1-year period	56.46%	12.44%	+44.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	65.81%	20.35%	+45.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.81%	20.35%	+45.46%

SVIX vs. TYA - Expense Ratio Comparison

SVIX has a 1.47% expense ratio, which is higher than TYA's 0.15% expense ratio.

Dividends

SVIX vs. TYA - Dividend Comparison

SVIX has not paid dividends to shareholders, while TYA's dividend yield for the trailing twelve months is around 3.76%.

Position	TTM	2025	2024	2023	2022	2021
SVIX -1x Short VIX Futures ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TYA Simplify Intermediate Term Treasury Futures Strategy ETF	3.76%	3.85%	4.84%	4.28%	2.23%	0.11%

Frequently Asked Questions

Can I hold both SVIX and TYA in my portfolio?

SVIX and TYA 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, SVIX or TYA?

SVIX has higher volatility (14.34%) compared to TYA (3.24%). In terms of maximum drawdown, SVIX dropped -79.30% vs TYA's -51.15%.

Which ETF is better, SVIX or TYA?

On 3-year performance, TYA leads with -0.87% vs -6.83% for SVIX. On fees, TYA is cheaper at 0.15% per year. On volatility, TYA has been the lower-risk option at 3.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SVIX or TYA?

Over the 3-year period, TYA has performed better with a -0.87% return vs -6.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SVIX or TYA?

TYA is cheaper with a 0.15% expense ratio, compared with 1.47% for SVIX.

Which ETF pays a higher dividend yield, SVIX or TYA?

TYA has the higher dividend yield at 3.76%, compared with 0.00% for SVIX.

What is the main difference between SVIX and TYA?

SVIX is categorized as Volatility, while TYA is Government Bonds. They also come from different issuers: Volatility Shares and Simplify. Their fees differ too: 1.47% for SVIX and 0.15% for TYA.

Which has better risk-adjusted returns?

SVIX currently has the higher Sharpe Ratio (0.70 vs -0.27), 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.