TUA vs. BIV
TUA (Simplify Short Term Treasury Futures Strategy ETF) and BIV (Vanguard Intermediate-Term Bond Index ETF) are both Intermediate Core Bond funds. TUA is actively managed, while BIV is passively managed. Over the past 3 years, TUA returned 0.00%/yr vs 4.52%/yr for BIV. Their correlation of 0.84 suggests significant overlap in exposure. TUA charges 0.16%/yr vs 0.03%/yr for BIV.
Performance
TUA vs. BIV - Performance Comparison
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Returns By Period
In the year-to-date period, TUA achieves a -5.38% return, which is significantly lower than BIV's 0.43% return.
TUA
- 1D
- 0.20%
- 1M
- -0.39%
- YTD
- -5.38%
- 6M
- -5.08%
- 1Y
- -3.57%
- 3Y*
- 0.00%
- 5Y*
- —
- 10Y*
- —
BIV
- 1D
- 0.09%
- 1M
- 0.72%
- YTD
- 0.43%
- 6M
- 0.34%
- 1Y
- 4.05%
- 3Y*
- 4.52%
- 5Y*
- 0.36%
- 10Y*
- 1.83%
TUA vs. BIV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TUA Simplify Short Term Treasury Futures Strategy ETF | -5.38% | 7.27% | -3.59% | -2.04% | -0.83% |
BIV Vanguard Intermediate-Term Bond Index ETF | 0.43% | 8.52% | 1.57% | 6.07% | 0.86% |
Correlation
The correlation between TUA and BIV is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2022 | 0.84 |
The correlation between TUA and BIV has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.
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Return for Risk
TUA vs. BIV — Risk / Return Rank
TUA
BIV
TUA vs. BIV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Short Term Treasury Futures Strategy ETF (TUA) and Vanguard Intermediate-Term Bond Index ETF (BIV). 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.
| TUA | BIV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.52 | ||
| Sortino ratioReturn per unit of downside risk | -2.18 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.17 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | 1.28 | -1.77 |
| Martin ratioReturn relative to average drawdown | -1.20 | 3.54 | -4.74 |
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Drawdowns
TUA vs. BIV - Drawdown Comparison
The maximum TUA drawdown since its inception was -15.85%, smaller than the maximum BIV drawdown of -18.95%. Use the drawdown chart below to compare losses from any high point for TUA and BIV.
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Drawdown Indicators
| TUA | BIV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -18.95% | +3.10% |
Max Drawdown (1Y)Largest decline over 1 year | -7.37% | -3.18% | -4.19% |
Max Drawdown (3Y)Largest decline over 3 years | -9.14% | -6.07% | -3.07% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.74% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.95% | — |
Current DrawdownCurrent decline from peak | -10.05% | -1.38% | -8.67% |
Average DrawdownAverage peak-to-trough decline | -8.39% | -3.38% | -5.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.98% | 1.15% | +1.83% |
Volatility
TUA vs. BIV - Volatility Comparison
Simplify Short Term Treasury Futures Strategy ETF (TUA) has a higher volatility of 2.66% compared to Vanguard Intermediate-Term Bond Index ETF (BIV) at 1.26%. This indicates that TUA's price experiences larger fluctuations and is considered to be riskier than BIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TUA | BIV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 1.26% | +1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 5.31% | 3.06% | +2.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.01% | 4.04% | +2.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.75% | 6.41% | +4.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.75% | 5.50% | +5.25% |
TUA vs. BIV - Expense Ratio Comparison
TUA has a 0.16% expense ratio, which is higher than BIV's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
TUA vs. BIV - Dividend Comparison
TUA's dividend yield for the trailing twelve months is around 3.32%, less than BIV's 4.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIV Vanguard Intermediate-Term Bond Index ETF | 4.19% | 4.01% | 3.79% | 3.09% | 2.41% | 3.42% | 2.95% | 2.75% | 2.88% | 2.69% | 3.01% | 3.02% |
TUA Simplify Short Term Treasury Futures Strategy ETF | 3.32% | 3.84% | 5.19% | 4.83% | 0.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TUA and BIV have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TUA has higher volatility (2.66%) compared to BIV (1.26%). In terms of maximum drawdown, TUA dropped -15.85% vs BIV's -18.95%.
On 3-year performance, BIV leads with 4.52% vs 0.00% for TUA. On fees, BIV is cheaper at 0.03% per year. On volatility, BIV has been the lower-risk option at 1.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BIV has performed better with a 4.52% return vs 0.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BIV is cheaper with a 0.03% expense ratio, compared with 0.16% for TUA.
BIV has the higher dividend yield at 4.19%, compared with 3.32% for TUA.
They also come from different issuers: Simplify and Vanguard. Their fees differ too: 0.16% for TUA and 0.03% for BIV.
BIV currently has the higher Sharpe Ratio (1.01 vs -0.51), 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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