TUA vs. IBTM
TUA (Simplify Short Term Treasury Futures Strategy ETF) and IBTM (iShares iBonds Dec 2032 Term Treasury ETF) are both Intermediate Core Bond funds. TUA is actively managed, while IBTM is passively managed. Over the past 3 years, TUA returned -0.88%/yr vs 2.68%/yr for IBTM. Their correlation of 0.84 suggests significant overlap in exposure. TUA charges 0.16%/yr vs 0.07%/yr for IBTM.
Performance
TUA vs. IBTM - 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 IBTM's -0.50% return.
TUA
- 1D
- -0.39%
- 1M
- -0.91%
- YTD
- -5.38%
- 6M
- -5.28%
- 1Y
- -1.78%
- 3Y*
- -0.88%
- 5Y*
- —
- 10Y*
- —
IBTM
- 1D
- -0.18%
- 1M
- -0.15%
- YTD
- -0.50%
- 6M
- -0.81%
- 1Y
- 3.93%
- 3Y*
- 2.68%
- 5Y*
- —
- 10Y*
- —
TUA vs. IBTM - 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% | -0.81% |
IBTM iShares iBonds Dec 2032 Term Treasury ETF | -0.50% | 8.06% | -0.14% | 3.48% | 0.02% |
Correlation
The correlation between TUA and IBTM is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2022 | 0.84 |
The correlation between TUA and IBTM has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.
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Return for Risk
TUA vs. IBTM — Risk / Return Rank
TUA
IBTM
TUA vs. IBTM - 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 2032 Term Treasury ETF (IBTM). 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 | IBTM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.79 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.17 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | 1.21 | -1.48 |
| Martin ratioReturn relative to average drawdown | -0.71 | 3.51 | -4.21 |
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 | IBTM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.26 | 0.96 | -1.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.13 | 0.20 | -0.33 |
Drawdowns
TUA vs. IBTM - Drawdown Comparison
The maximum TUA drawdown since its inception was -15.85%, which is greater than IBTM's maximum drawdown of -13.60%. Use the drawdown chart below to compare losses from any high point for TUA and IBTM.
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Drawdown Indicators
| TUA | IBTM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -13.60% | -2.25% |
Max Drawdown (1Y)Largest decline over 1 year | -6.68% | -3.26% | -3.42% |
Max Drawdown (3Y)Largest decline over 3 years | -9.14% | -7.86% | -1.28% |
Current DrawdownCurrent decline from peak | -10.05% | -2.38% | -7.67% |
Average DrawdownAverage peak-to-trough decline | -8.37% | -4.82% | -3.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 1.12% | +1.41% |
Volatility
TUA vs. IBTM - Volatility Comparison
Simplify Short Term Treasury Futures Strategy ETF (TUA) has a higher volatility of 1.95% compared to iShares iBonds Dec 2032 Term Treasury ETF (IBTM) at 1.20%. This indicates that TUA's price experiences larger fluctuations and is considered to be riskier than IBTM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TUA | IBTM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.95% | 1.20% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 4.84% | 2.75% | +2.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.85% | 4.09% | +2.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.76% | 7.56% | +3.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.76% | 7.56% | +3.20% |
TUA vs. IBTM - Expense Ratio Comparison
TUA has a 0.16% expense ratio, which is higher than IBTM'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. IBTM - Dividend Comparison
TUA's dividend yield for the trailing twelve months is around 3.56%, less than IBTM's 3.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IBTM iShares iBonds Dec 2032 Term Treasury ETF | 3.95% | 3.87% | 3.96% | 3.39% | 1.38% |
TUA Simplify Short Term Treasury Futures Strategy ETF | 3.56% | 3.84% | 5.19% | 4.83% | 0.15% |
Frequently Asked Questions
With a correlation of 0.91, TUA and IBTM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
TUA has higher volatility (1.95%) compared to IBTM (1.20%). In terms of maximum drawdown, TUA dropped -15.85% vs IBTM's -13.60%.
On 3-year performance, IBTM leads with 2.68% vs -0.88% for TUA. On fees, IBTM is cheaper at 0.07% per year. On volatility, IBTM has been the lower-risk option at 1.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IBTM has performed better with a 2.68% return vs -0.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTM is cheaper with a 0.07% expense ratio, compared with 0.16% for TUA.
IBTM has the higher dividend yield at 3.95%, 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 IBTM.
IBTM currently has the higher Sharpe Ratio (0.96 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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