TESL vs. MTBA

Last updated Jul 17, 2026

TESL (Simplify Volt TSLA Revolution ETF) and MTBA (Simplify MBS ETF) are both exchange-traded funds - TESL is a Large Cap Growth Equities fund tracking the Actively Managed, while MTBA is a Mortgage Backed Securities fund actively managed by Simplify. TESL is passively managed, while MTBA is actively managed. Over the past year, TESL returned -25.27% vs 4.40% for MTBA. At a 0.10 correlation, their price movements are largely independent. TESL charges 0.97%/yr vs 0.15%/yr for MTBA.

Performance

TESL vs. MTBA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Volt TSLA Revolution ETF (TESL) and Simplify MBS ETF (MTBA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TESL achieves a -12.21% return, which is significantly lower than MTBA's 0.02% return.

TESL

• 1D: -2.76%
• 1M: -7.29%
• 6M: -9.18%
• YTD: -12.21%
• 1Y: -25.27%
• 3Y*: 22.90%
• 5Y*: 9.95%
• 10Y*: —

MTBA

• 1D: -0.10%
• 1M: -0.35%
• 6M: -0.42%
• YTD: 0.02%
• 1Y: 4.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TESL vs. MTBA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TESL Simplify Volt TSLA Revolution ETF	-12.21%	-14.73%	152.27%	9.18%
MTBA Simplify MBS ETF	0.02%	7.74%	1.99%	3.67%

Correlation

The correlation between TESL and MTBA is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Nov 7, 2023	0.10

Return for Risk

TESL vs. MTBA — Risk / Return Rank

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

TESL

TESL Risk / Return Rank: 6
TESL Sharpe Ratio Rank: 6
TESL Sortino Ratio Rank: 6
TESL Omega Ratio Rank: 6
TESL Calmar Ratio Rank: 5
TESL Martin Ratio Rank: 6

MTBA

MTBA Risk / Return Rank: 45
MTBA Sharpe Ratio Rank: 50
MTBA Sortino Ratio Rank: 48
MTBA Omega Ratio Rank: 53
MTBA Calmar Ratio Rank: 37
MTBA Martin Ratio Rank: 37

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.

TESL vs. MTBA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Volt TSLA Revolution ETF (TESL) and Simplify MBS ETF (MTBA). 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.

	TESL	MTBA	Difference
Sharpe ratio: Return per unit of total volatility	-0.45	1.42	-1.86
Sortino ratio: Return per unit of downside risk	-0.32	1.98	-2.31
Omega ratio: Gain probability vs. loss probability	0.96	1.27	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.45	1.57	-2.02
Martin ratio: Return relative to average drawdown	-0.74	4.68	-5.42

TESL vs. MTBA - Sharpe Ratio Comparison

The current TESL Sharpe Ratio is -0.45, which is lower than the MTBA Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of TESL and MTBA, 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

TESL vs. MTBA - Drawdown Comparison

The maximum TESL drawdown since its inception was -69.11%, which is greater than MTBA's maximum drawdown of -3.48%. Use the drawdown chart below to compare losses from any high point for TESL and MTBA.

Drawdown Indicators

	TESL	MTBA	Difference
Max Drawdown Largest peak-to-trough decline	-69.11%	-3.48%	-65.63%
Max Drawdown (1Y) Largest decline over 1 year	-56.12%	-2.82%	-53.30%
Max Drawdown (3Y) Largest decline over 3 years	-56.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-69.11%	—	—
Current Drawdown Current decline from peak	-45.53%	-1.36%	-44.17%
Average Drawdown Average peak-to-trough decline	-37.78%	-0.81%	-36.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.27%	0.94%	+33.33%

Volatility

TESL vs. MTBA - Volatility Comparison

Simplify Volt TSLA Revolution ETF (TESL) has a higher volatility of 18.06% compared to Simplify MBS ETF (MTBA) at 1.01%. This indicates that TESL's price experiences larger fluctuations and is considered to be riskier than MTBA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TESL	MTBA	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.06%	1.01%	+17.05%
Volatility (6M) Calculated over the trailing 6-month period	38.86%	2.67%	+36.19%
Volatility (1Y) Calculated over the trailing 1-year period	57.05%	3.12%	+53.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.48%	3.93%	+47.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.31%	3.93%	+46.38%

TESL vs. MTBA - Expense Ratio Comparison

TESL has a 0.97% expense ratio, which is higher than MTBA's 0.15% expense ratio.

Dividends

TESL vs. MTBA - Dividend Comparison

TESL's dividend yield for the trailing twelve months is around 25.21%, more than MTBA's 6.06% yield.

Position	TTM	2025	2024	2023	2022
MTBA Simplify MBS ETF	6.06%	5.98%	6.03%	0.48%	0.00%
TESL Simplify Volt TSLA Revolution ETF	25.21%	23.87%	0.62%	0.00%	0.83%

Frequently Asked Questions

Can I hold both TESL and MTBA in my portfolio?

TESL and MTBA have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TESL or MTBA?

TESL has higher volatility (18.06%) compared to MTBA (1.01%). In terms of maximum drawdown, TESL dropped -69.11% vs MTBA's -3.48%.

Which ETF is better, TESL or MTBA?

On 1-year performance, MTBA leads with 4.40% vs -25.27% for TESL. On fees, MTBA is cheaper at 0.15% per year. On volatility, MTBA has been the lower-risk option at 1.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TESL or MTBA?

Over the 1-year period, MTBA has performed better with a 4.40% return vs -25.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TESL or MTBA?

MTBA is cheaper with a 0.15% expense ratio, compared with 0.97% for TESL.

Which ETF pays a higher dividend yield, TESL or MTBA?

TESL has the higher dividend yield at 25.21%, compared with 6.06% for MTBA.

What is the main difference between TESL and MTBA?

TESL is categorized as Large Cap Growth Equities, while MTBA is Mortgage Backed Securities. Their fees differ too: 0.97% for TESL and 0.15% for MTBA.

Which has better risk-adjusted returns?

MTBA currently has the higher Sharpe Ratio (1.42 vs -0.45), 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.