TLT vs. BUCK
TLT (iShares 20+ Year Treasury Bond ETF) and BUCK (Simplify Treasury Option Income ETF) are both Government Bonds funds. TLT is passively managed, while BUCK is actively managed. Over the past 3 years, TLT returned -2.03%/yr vs 5.25%/yr for BUCK. At a 0.15 correlation, their price movements are largely independent. TLT charges 0.15%/yr vs 0.35%/yr for BUCK.
Performance
TLT vs. BUCK - Performance Comparison
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Returns By Period
In the year-to-date period, TLT achieves a -0.56% return, which is significantly lower than BUCK's 1.94% return.
TLT
- 1D
- -0.51%
- 1M
- -0.80%
- YTD
- -0.56%
- 6M
- -1.32%
- 1Y
- 2.88%
- 3Y*
- -2.03%
- 5Y*
- -6.37%
- 10Y*
- -1.63%
BUCK
- 1D
- -0.04%
- 1M
- 0.38%
- YTD
- 1.94%
- 6M
- 2.18%
- 1Y
- 7.42%
- 3Y*
- 5.25%
- 5Y*
- —
- 10Y*
- —
TLT vs. BUCK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | -0.56% | 4.25% | -8.05% | 2.77% | 3.60% |
BUCK Simplify Treasury Option Income ETF | 1.94% | 4.13% | 7.25% | 4.63% | 0.39% |
Correlation
The correlation between TLT and BUCK is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2022 | 0.15 |
The correlation between TLT and BUCK shifts across timeframes, from 0.15 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TLT vs. BUCK — Risk / Return Rank
TLT
BUCK
TLT vs. BUCK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond ETF (TLT) 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.
| TLT | BUCK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.11 | ||
| Sortino ratioReturn per unit of downside risk | -3.08 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.51 | -0.45 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | 5.70 | -5.32 |
| Martin ratioReturn relative to average drawdown | 0.94 | 30.46 | -29.52 |
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
| TLT | BUCK | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.30 | 2.40 | -2.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.40 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.11 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 1.47 | -1.22 |
Drawdowns
TLT vs. BUCK - Drawdown Comparison
The maximum TLT drawdown since its inception was -48.35%, which is greater than BUCK's maximum drawdown of -5.43%. Use the drawdown chart below to compare losses from any high point for TLT and BUCK.
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Drawdown Indicators
| TLT | BUCK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.35% | -5.43% | -42.92% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | -1.31% | -6.27% |
Max Drawdown (3Y)Largest decline over 3 years | -19.18% | -5.43% | -13.75% |
Max Drawdown (5Y)Largest decline over 5 years | -43.70% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -48.35% | — | — |
Current DrawdownCurrent decline from peak | -40.61% | -0.04% | -40.57% |
Average DrawdownAverage peak-to-trough decline | -13.82% | -0.49% | -13.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 0.25% | +2.82% |
Volatility
TLT vs. BUCK - Volatility Comparison
iShares 20+ Year Treasury Bond ETF (TLT) has a higher volatility of 2.65% compared to Simplify Treasury Option Income ETF (BUCK) at 0.71%. This indicates that TLT'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.
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Volatility by Period
| TLT | BUCK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 0.71% | +1.94% |
Volatility (6M)Calculated over the trailing 6-month period | 6.51% | 1.50% | +5.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.66% | 3.10% | +6.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.85% | 3.48% | +12.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.90% | 3.48% | +11.42% |
TLT vs. BUCK - Expense Ratio Comparison
TLT has a 0.15% expense ratio, which is lower than BUCK's 0.35% expense ratio.
Dividends
TLT vs. BUCK - Dividend Comparison
TLT's dividend yield for the trailing twelve months is around 4.60%, less than BUCK's 7.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BUCK Simplify Treasury Option Income ETF | 7.41% | 7.59% | 8.84% | 4.84% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.60% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
TLT and BUCK have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.65%) compared to BUCK (0.71%). In terms of maximum drawdown, TLT dropped -48.35% vs BUCK's -5.43%.
On 3-year performance, BUCK leads with 5.25% vs -2.03% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, BUCK has been the lower-risk option at 0.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BUCK has performed better with a 5.25% return vs -2.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TLT is cheaper with a 0.15% expense ratio, compared with 0.35% for BUCK.
BUCK has the higher dividend yield at 7.41%, compared with 4.60% for TLT.
They also come from different issuers: iShares and Simplify. Their fees differ too: 0.15% for TLT and 0.35% for BUCK.
BUCK currently has the higher Sharpe Ratio (2.40 vs 0.30), 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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