TUA vs. IBGA
TUA (Simplify Short Term Treasury Futures Strategy ETF) and IBGA (iShares iBonds Dec 2044 Term Treasury ETF) are both Intermediate Core Bond funds. TUA is actively managed, while IBGA is passively managed. Over the past year, TUA returned -1.78% vs 5.33% for IBGA. A 0.69 correlation means they provide meaningful diversification when combined. TUA charges 0.16%/yr vs 0.07%/yr for IBGA.
Performance
TUA vs. IBGA - 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 IBGA's -0.37% return.
TUA
- 1D
- -0.39%
- 1M
- -0.91%
- YTD
- -5.38%
- 6M
- -5.28%
- 1Y
- -1.78%
- 3Y*
- -0.88%
- 5Y*
- —
- 10Y*
- —
IBGA
- 1D
- -0.41%
- 1M
- 0.62%
- YTD
- -0.37%
- 6M
- -1.42%
- 1Y
- 5.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TUA vs. IBGA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TUA Simplify Short Term Treasury Futures Strategy ETF | -5.38% | 7.27% | 2.35% |
IBGA iShares iBonds Dec 2044 Term Treasury ETF | -0.37% | 6.09% | -1.41% |
Correlation
The correlation between TUA and IBGA is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2024 | 0.69 |
The correlation between TUA and IBGA has been stable across timeframes, ranging from 0.69 to 0.72 - a consistent structural relationship.
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Return for Risk
TUA vs. IBGA — Risk / Return Rank
TUA
IBGA
TUA vs. IBGA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Short Term Treasury Futures Strategy ETF (TUA) and iShares iBonds Dec 2044 Term Treasury ETF (IBGA). 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 | IBGA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.32 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.11 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | 0.81 | -1.08 |
| Martin ratioReturn relative to average drawdown | -0.71 | 2.23 | -2.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TUA | IBGA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.26 | 0.65 | -0.91 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.13 | 0.22 | -0.35 |
Drawdowns
TUA vs. IBGA - Drawdown Comparison
The maximum TUA drawdown since its inception was -15.85%, which is greater than IBGA's maximum drawdown of -11.69%. Use the drawdown chart below to compare losses from any high point for TUA and IBGA.
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Drawdown Indicators
| TUA | IBGA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -11.69% | -4.16% |
Max Drawdown (1Y)Largest decline over 1 year | -6.68% | -6.60% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -9.14% | — | — |
Current DrawdownCurrent decline from peak | -10.05% | -4.67% | -5.38% |
Average DrawdownAverage peak-to-trough decline | -8.37% | -5.05% | -3.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 2.40% | +0.13% |
Volatility
TUA vs. IBGA - Volatility Comparison
The current volatility for Simplify Short Term Treasury Futures Strategy ETF (TUA) is 1.95%, while iShares iBonds Dec 2044 Term Treasury ETF (IBGA) has a volatility of 2.59%. This indicates that TUA experiences smaller price fluctuations and is considered to be less risky than IBGA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TUA | IBGA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.95% | 2.59% | -0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 4.84% | 5.68% | -0.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.85% | 8.21% | -1.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.76% | 9.86% | +0.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.76% | 9.86% | +0.90% |
TUA vs. IBGA - Expense Ratio Comparison
TUA has a 0.16% expense ratio, which is higher than IBGA's 0.07% 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. IBGA - Dividend Comparison
TUA's dividend yield for the trailing twelve months is around 3.56%, less than IBGA's 4.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IBGA iShares iBonds Dec 2044 Term Treasury ETF | 4.66% | 4.49% | 2.03% | 0.00% | 0.00% |
TUA Simplify Short Term Treasury Futures Strategy ETF | 3.56% | 3.84% | 5.19% | 4.83% | 0.15% |
Frequently Asked Questions
TUA and IBGA have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBGA has higher volatility (2.59%) compared to TUA (1.95%). In terms of maximum drawdown, TUA dropped -15.85% vs IBGA's -11.69%.
On 1-year performance, IBGA leads with 5.33% vs -1.78% for TUA. On fees, IBGA is cheaper at 0.07% per year. On volatility, TUA has been the lower-risk option at 1.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBGA has performed better with a 5.33% return vs -1.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBGA is cheaper with a 0.07% expense ratio, compared with 0.16% for TUA.
IBGA has the higher dividend yield at 4.66%, compared with 3.56% for TUA.
They also come from different issuers: Simplify and iShares. Their fees differ too: 0.16% for TUA and 0.07% for IBGA.
IBGA currently has the higher Sharpe Ratio (0.65 vs -0.26), 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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