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 -0.77%/yr vs 4.34%/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
Loading charts...
Returns By Period
In the year-to-date period, TUA achieves a -4.96% return, which is significantly lower than BIV's -0.11% return.
TUA
- 1D
- 0.44%
- 1M
- -0.67%
- YTD
- -4.96%
- 6M
- -4.51%
- 1Y
- -2.21%
- 3Y*
- -0.77%
- 5Y*
- —
- 10Y*
- —
BIV
- 1D
- 0.13%
- 1M
- 0.04%
- YTD
- -0.11%
- 6M
- -0.10%
- 1Y
- 4.33%
- 3Y*
- 4.34%
- 5Y*
- 0.28%
- 10Y*
- 1.93%
TUA vs. BIV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TUA Simplify Short Term Treasury Futures Strategy ETF | -4.96% | 7.27% | -3.59% | -2.04% | -0.81% |
BIV Vanguard Intermediate-Term Bond Index ETF | -0.11% | 8.52% | 1.57% | 6.07% | 0.12% |
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 16, 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.
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
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.
| TUA | BIV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -2.03 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.19 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.33 | 1.37 | -1.70 |
| Martin ratioReturn relative to average drawdown | -0.87 | 4.13 | -5.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| TUA | BIV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.33 | 1.08 | -1.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.04 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.35 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.12 | 0.65 | -0.77 |
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.
Loading charts...
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 | -6.68% | -3.18% | -3.50% |
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 | -9.65% | -1.91% | -7.74% |
Average DrawdownAverage peak-to-trough decline | -8.37% | -3.39% | -4.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | 1.05% | +1.51% |
Volatility
TUA vs. BIV - Volatility Comparison
Simplify Short Term Treasury Futures Strategy ETF (TUA) has a higher volatility of 2.00% compared to Vanguard Intermediate-Term Bond Index ETF (BIV) at 1.36%. 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.
Loading charts...
Volatility by Period
| TUA | BIV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.00% | 1.36% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 4.85% | 2.90% | +1.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.86% | 4.06% | +2.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.76% | 6.40% | +4.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.76% | 5.50% | +5.26% |
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 3.54%, less than BIV's 4.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIV Vanguard Intermediate-Term Bond Index ETF | 4.21% | 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 | 3.54% | 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 (2.00%) compared to BIV (1.36%). In terms of maximum drawdown, TUA dropped -15.85% vs BIV's -18.95%.
On 3-year performance, BIV leads with 4.34% vs -0.77% for TUA. On fees, BIV is cheaper at 0.03% per year. On volatility, BIV has been the lower-risk option at 1.36%. 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 4.34% return vs -0.77%. 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 4.21%, compared with 3.54% 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 (1.08 vs -0.33), 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 TUA and BIV
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