TLT vs. FOXY
TLT (iShares 20+ Year Treasury Bond ETF) and FOXY (Simplify Currency Strategy ETF) are both exchange-traded funds - TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while FOXY is a Leveraged Currency fund actively managed by Simplify. TLT is passively managed, while FOXY is actively managed. Over the past year, TLT returned 2.88% vs 19.85% for FOXY. At a 0.01 correlation, their price movements are largely independent. TLT charges 0.15%/yr vs 0.81%/yr for FOXY.
Performance
TLT vs. FOXY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TLT achieves a 0.27% return, which is significantly lower than FOXY's 10.75% return.
TLT
- 1D
- -0.24%
- 1M
- 1.54%
- YTD
- 0.27%
- 6M
- 0.45%
- 1Y
- 2.88%
- 3Y*
- -1.38%
- 5Y*
- -6.53%
- 10Y*
- -1.75%
FOXY
- 1D
- 0.28%
- 1M
- -0.06%
- YTD
- 10.75%
- 6M
- 6.56%
- 1Y
- 19.85%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TLT vs. FOXY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | 0.27% | 2.90% |
FOXY Simplify Currency Strategy ETF | 10.75% | 14.71% |
Correlation
The correlation between TLT and FOXY is 0.04, 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 | 0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2025 | 0.01 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TLT vs. FOXY — Risk / Return Rank
TLT
FOXY
TLT vs. FOXY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond ETF (TLT) and Simplify Currency Strategy ETF (FOXY). 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.
| TLT | FOXY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.37 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | 4.61 | -4.23 |
| Martin ratioReturn relative to average drawdown | 0.92 | 12.65 | -11.73 |
Loading charts...
Drawdowns
TLT vs. FOXY - Drawdown Comparison
The maximum TLT drawdown since its inception was -48.35%, which is greater than FOXY's maximum drawdown of -13.09%. Use the drawdown chart below to compare losses from any high point for TLT and FOXY.
Loading charts...
Drawdown Indicators
| TLT | FOXY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.35% | -13.09% | -35.26% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | -4.32% | -3.26% |
Max Drawdown (3Y)Largest decline over 3 years | -19.18% | — | — |
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 | -40.12% | -2.02% | -38.10% |
Average DrawdownAverage peak-to-trough decline | -13.84% | -2.10% | -11.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.14% | 1.57% | +1.57% |
Volatility
TLT vs. FOXY - Volatility Comparison
iShares 20+ Year Treasury Bond ETF (TLT) has a higher volatility of 2.83% compared to Simplify Currency Strategy ETF (FOXY) at 2.59%. This indicates that TLT's price experiences larger fluctuations and is considered to be riskier than FOXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TLT | FOXY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.83% | 2.59% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 6.64% | 7.54% | -0.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.68% | 9.85% | -0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.85% | 14.96% | +0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.91% | 14.96% | -0.05% |
TLT vs. FOXY - Expense Ratio Comparison
TLT has a 0.15% expense ratio, which is lower than FOXY's 0.81% expense ratio.
Dividends
TLT vs. FOXY - Dividend Comparison
TLT's dividend yield for the trailing twelve months is around 4.56%, less than FOXY's 8.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FOXY Simplify Currency Strategy ETF | 8.20% | 5.51% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.56% | 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 FOXY have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TLT has higher volatility (2.83%) compared to FOXY (2.59%). In terms of maximum drawdown, TLT dropped -48.35% vs FOXY's -13.09%.
On 1-year performance, FOXY leads with 19.85% vs 2.88% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, FOXY has been the lower-risk option at 2.59%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FOXY has performed better with a 19.85% return vs 2.88%. 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 0.81% for FOXY.
FOXY has the higher dividend yield at 8.20%, compared with 4.56% for TLT.
TLT is categorized as Government Bonds, while FOXY is Leveraged Currency. They also come from different issuers: iShares and Simplify. Their fees differ too: 0.15% for TLT and 0.81% for FOXY.
FOXY currently has the higher Sharpe Ratio (2.03 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.
Find the right allocation for TLT and FOXY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer