TIPX vs. MTBA
TIPX (SPDR Bloomberg Barclays 1-10 Year TIPS ETF) and MTBA (Simplify MBS ETF) are both exchange-traded funds - TIPX is a Inflation-Protected Bonds fund tracking the Bloomberg US Govt Inflation-Linked (1-10 Y), while MTBA is a Mortgage Backed Securities fund actively managed by Simplify. TIPX is passively managed, while MTBA is actively managed. Over the past year, TIPX returned 5.04% vs 5.18% for MTBA. A 0.73 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.
Performance
TIPX vs. MTBA - Performance Comparison
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Returns By Period
In the year-to-date period, TIPX achieves a 1.72% return, which is significantly higher than MTBA's -0.23% return.
TIPX
- 1D
- -0.05%
- 1M
- -0.17%
- YTD
- 1.72%
- 6M
- 1.48%
- 1Y
- 5.04%
- 3Y*
- 4.84%
- 5Y*
- 2.26%
- 10Y*
- 2.97%
MTBA
- 1D
- -0.12%
- 1M
- 0.21%
- YTD
- -0.23%
- 6M
- 0.18%
- 1Y
- 5.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TIPX vs. MTBA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 1.72% | 7.15% | 3.08% | 2.71% |
MTBA Simplify MBS ETF | -0.23% | 7.74% | 1.99% | 3.64% |
Correlation
The correlation between TIPX and MTBA is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2023 | 0.73 |
The correlation between TIPX and MTBA has been stable across timeframes, ranging from 0.67 to 0.73 - a consistent structural relationship.
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Return for Risk
TIPX vs. MTBA — Risk / Return Rank
TIPX
MTBA
TIPX vs. MTBA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) 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.
| TIPX | MTBA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.32 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.92 | 1.84 | +2.07 |
| Martin ratioReturn relative to average drawdown | 13.22 | 6.28 | +6.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TIPX | MTBA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.94 | 1.68 | +0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 1.30 | -0.80 |
Drawdowns
TIPX vs. MTBA - Drawdown Comparison
The maximum TIPX drawdown since its inception was -10.06%, which is greater than MTBA's maximum drawdown of -3.48%. Use the drawdown chart below to compare losses from any high point for TIPX and MTBA.
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Drawdown Indicators
| TIPX | MTBA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.06% | -3.48% | -6.58% |
Max Drawdown (1Y)Largest decline over 1 year | -1.29% | -2.82% | +1.53% |
Max Drawdown (3Y)Largest decline over 3 years | -2.45% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -10.06% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -10.06% | — | — |
Current DrawdownCurrent decline from peak | -0.30% | -1.60% | +1.30% |
Average DrawdownAverage peak-to-trough decline | -2.28% | -0.79% | -1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 0.83% | -0.45% |
Volatility
TIPX vs. MTBA - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) is 0.74%, while Simplify MBS ETF (MTBA) has a volatility of 1.33%. This indicates that TIPX experiences smaller price fluctuations and is considered to be less risky than MTBA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIPX | MTBA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 1.33% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 1.79% | 2.47% | -0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.61% | 3.10% | -0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.64% | 3.95% | +0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.37% | 3.95% | +0.42% |
TIPX vs. MTBA - Expense Ratio Comparison
Both TIPX and MTBA 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
TIPX vs. MTBA - Dividend Comparison
TIPX's dividend yield for the trailing twelve months is around 4.54%, less than MTBA's 6.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MTBA Simplify MBS ETF | 6.09% | 5.98% | 6.03% | 0.48% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 4.54% | 3.78% | 3.57% | 3.57% | 6.08% | 4.26% | 1.73% | 2.53% | 1.90% | 2.84% | 1.04% | 0.06% |
Frequently Asked Questions
TIPX and MTBA have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MTBA has higher volatility (1.33%) compared to TIPX (0.74%). In terms of maximum drawdown, TIPX dropped -10.06% vs MTBA's -3.48%.
On 1-year performance, MTBA leads with 5.18% vs 5.04% for TIPX. Both ETFs have the same 0.15% expense ratio. On volatility, TIPX has been the lower-risk option at 0.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MTBA has performed better with a 5.18% return vs 5.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TIPX and MTBA have the same expense ratio: 0.15% per year.
MTBA has the higher dividend yield at 6.09%, compared with 4.54% for TIPX.
TIPX is categorized as Inflation-Protected Bonds, while MTBA is Mortgage Backed Securities. They also come from different issuers: State Street and Simplify.
TIPX currently has the higher Sharpe Ratio (1.94 vs 1.68), 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.
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