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 0.67%/yr vs 5.15%/yr for BUCK. Their 0.07 correlation means their historical movements had little consistent relationship. 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 -6.37% return, which is significantly lower than BUCK's 2.42% return.
TUA
- 1D
- -0.32%
- 1M
- -1.10%
- 6M
- -5.88%
- YTD
- -6.37%
- 1Y
- -5.24%
- 3Y*
- 0.67%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.64%
BUCK
- 1D
- -0.04%
- 1M
- 0.17%
- 6M
- 1.84%
- YTD
- 2.42%
- 1Y
- 5.36%
- 3Y*
- 5.15%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.71M | $3.63M | $3.94M | |
| $11.89M | $10.24M | $8.33M |
TUA vs. BUCK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TUA Simplify Short Term Treasury Futures Strategy ETF | -6.37% | 7.27% | -3.59% | -2.04% | -0.83% |
BUCK Simplify Treasury Option Income ETF | 2.42% | 4.13% | 7.25% | 4.63% | 0.39% |
Correlation
The correlation between TUA and BUCK is 0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.05 |
Correlation (3Y) Balances recent behavior with more history. | 0.06 |
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 | -2.83 | ||
| Sortino ratioReturn per unit of downside risk | -4.13 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.52 | -0.58 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 7.39 | -7.77 |
| Martin ratioReturn relative to average drawdown | -0.81 | 34.83 | -35.63 |
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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 | -7.96% | -0.84% | -7.12% |
Max Drawdown (3Y)Largest decline over 3 years | -9.14% | -5.43% | -3.71% |
Current DrawdownCurrent decline from peak | -10.99% | -0.11% | -10.88% |
Average DrawdownAverage peak-to-trough decline | -8.45% | -0.47% | -7.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.64% | 0.18% | +3.46% |
Volatility
TUA vs. BUCK - Volatility Comparison
Simplify Short Term Treasury Futures Strategy ETF (TUA) has a higher volatility of 1.91% compared to Simplify Treasury Option Income ETF (BUCK) at 0.39%. 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 | 1.91% | 0.39% | +1.52% |
Volatility (6M)Calculated over the trailing 6-month period | 5.57% | 1.24% | +4.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.01% | 2.59% | +4.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.65% | 3.42% | +7.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.65% | 3.42% | +7.23% |
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 3.12%, less than BUCK's 7.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BUCK Simplify Treasury Option Income ETF | 7.20% | 7.59% | 8.84% | 4.84% | 0.59% |
TUA Simplify Short Term Treasury Futures Strategy ETF | 3.12% | 3.84% | 5.19% | 4.83% | 0.15% |
Frequently Asked Questions
TUA and BUCK have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TUA has higher volatility (1.91%) compared to BUCK (0.39%). In terms of maximum drawdown, TUA dropped -15.85% vs BUCK's -5.43%.
On 3-year performance, BUCK leads with 5.15% vs 0.67% for TUA. On fees, TUA is cheaper at 0.16% per year. On volatility, BUCK has been the lower-risk option at 0.39%. 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 5.15% return vs 0.67%. 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 7.20%, compared with 3.12% 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 (2.41 vs -0.42), 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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