TUA vs. BUCK
TUA (Simplify Short Term Treasury Futures Strategy ETF) and BUCK (Simplify Treasury Option Income ETF) are both exchange-traded funds - TUA is a Intermediate Core Bond fund actively managed by Simplify, while BUCK is a Government Bonds fund actively managed by Simplify. Both are actively managed. Over the past 3 years, TUA returned -0.18%/yr vs 5.24%/yr for BUCK. At a 0.07 correlation, their price movements are largely independent. TUA charges 0.16%/yr vs 0.35%/yr for BUCK.
Performance
TUA vs. BUCK - Performance Comparison
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Returns By Period
In the year-to-date period, TUA achieves a -6.11% return, which is significantly lower than BUCK's 2.12% return.
TUA
- 1D
- 0.49%
- 1M
- -0.44%
- YTD
- -6.11%
- 6M
- -5.54%
- 1Y
- -3.80%
- 3Y*
- -0.18%
- 5Y*
- —
- 10Y*
- —
BUCK
- 1D
- 0.04%
- 1M
- 0.21%
- YTD
- 2.12%
- 6M
- 1.99%
- 1Y
- 6.93%
- 3Y*
- 5.24%
- 5Y*
- —
- 10Y*
- —
TUA vs. BUCK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TUA Simplify Short Term Treasury Futures Strategy ETF | -6.11% | 7.27% | -3.59% | -2.04% | -0.83% |
BUCK Simplify Treasury Option Income ETF | 2.12% | 4.13% | 7.25% | 4.63% | 0.39% |
Correlation
The correlation between TUA and BUCK is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2022 | 0.07 |
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Return for Risk
TUA vs. BUCK — Risk / Return Rank
TUA
BUCK
TUA vs. BUCK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Short Term Treasury Futures Strategy ETF (TUA) 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.
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 | BUCK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.88 | ||
| Sortino ratioReturn per unit of downside risk | -4.16 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.50 | -0.59 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 5.32 | -5.84 |
| Martin ratioReturn relative to average drawdown | -1.30 | 28.71 | -30.01 |
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Drawdowns
TUA vs. BUCK - Drawdown Comparison
The maximum TUA drawdown since its inception was -15.85%, which is greater than BUCK's maximum drawdown of -5.43%. Use the drawdown chart below to compare losses from any high point for TUA and BUCK.
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Drawdown Indicators
| TUA | BUCK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -5.43% | -10.42% |
Max Drawdown (1Y)Largest decline over 1 year | -7.37% | -1.31% | -6.06% |
Max Drawdown (3Y)Largest decline over 3 years | -9.14% | -5.43% | -3.71% |
Current DrawdownCurrent decline from peak | -10.75% | -0.04% | -10.71% |
Average DrawdownAverage peak-to-trough decline | -8.39% | -0.49% | -7.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.93% | 0.24% | +2.69% |
Volatility
TUA vs. BUCK - Volatility Comparison
Simplify Short Term Treasury Futures Strategy ETF (TUA) has a higher volatility of 2.72% compared to Simplify Treasury Option Income ETF (BUCK) at 0.28%. This indicates that TUA'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
| TUA | BUCK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.72% | 0.28% | +2.44% |
Volatility (6M)Calculated over the trailing 6-month period | 5.28% | 1.37% | +3.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.03% | 2.98% | +4.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.75% | 3.46% | +7.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.75% | 3.46% | +7.29% |
TUA vs. BUCK - Expense Ratio Comparison
TUA has a 0.16% expense ratio, which is lower than BUCK's 0.35% expense ratio.
Dividends
TUA vs. BUCK - Dividend Comparison
TUA's dividend yield for the trailing twelve months is around 3.58%, less than BUCK's 7.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BUCK Simplify Treasury Option Income ETF | 7.40% | 7.59% | 8.84% | 4.84% | 0.59% |
TUA Simplify Short Term Treasury Futures Strategy ETF | 3.58% | 3.84% | 5.19% | 4.83% | 0.15% |
Frequently Asked Questions
TUA and BUCK have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TUA has higher volatility (2.72%) compared to BUCK (0.28%). In terms of maximum drawdown, TUA dropped -15.85% vs BUCK's -5.43%.
On 3-year performance, BUCK leads with 5.24% vs -0.18% for TUA. On fees, TUA is cheaper at 0.16% per year. On volatility, BUCK has been the lower-risk option at 0.28%. 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 5.24% return vs -0.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TUA is cheaper with a 0.16% expense ratio, compared with 0.35% for BUCK.
BUCK has the higher dividend yield at 7.40%, compared with 3.58% for TUA.
TUA is categorized as Intermediate Core Bond, while BUCK is Government Bonds. Their fees differ too: 0.16% for TUA and 0.35% for BUCK.
BUCK currently has the higher Sharpe Ratio (2.34 vs -0.54), 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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