TUA vs. IBTO
TUA (Simplify Short Term Treasury Futures Strategy ETF) and IBTO (iShares iBonds Dec 2033 Term Treasury ETF) are both Intermediate Core Bond funds. TUA is actively managed, while IBTO is passively managed. Over the past year, TUA returned -1.78% vs 4.04% for IBTO. Their correlation of 0.81 suggests significant overlap in exposure. TUA charges 0.16%/yr vs 0.07%/yr for IBTO.
Performance
TUA vs. IBTO - 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 IBTO's -0.58% return.
TUA
- 1D
- -0.39%
- 1M
- -0.91%
- YTD
- -5.38%
- 6M
- -5.28%
- 1Y
- -1.78%
- 3Y*
- -0.88%
- 5Y*
- —
- 10Y*
- —
IBTO
- 1D
- -0.21%
- 1M
- -0.17%
- YTD
- -0.58%
- 6M
- -1.02%
- 1Y
- 4.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TUA vs. IBTO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TUA Simplify Short Term Treasury Futures Strategy ETF | -5.38% | 7.27% | -3.59% | 4.29% |
IBTO iShares iBonds Dec 2033 Term Treasury ETF | -0.58% | 8.23% | -0.87% | 1.71% |
Correlation
The correlation between TUA and IBTO is 0.89, 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 | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023 | 0.81 |
The correlation between TUA and IBTO has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.
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Return for Risk
TUA vs. IBTO — Risk / Return Rank
TUA
IBTO
TUA vs. IBTO - 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 2033 Term Treasury ETF (IBTO). 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 | IBTO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.17 | ||
| Sortino ratioReturn per unit of downside risk | -1.71 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.16 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | 1.11 | -1.38 |
| Martin ratioReturn relative to average drawdown | -0.71 | 3.21 | -3.92 |
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 | IBTO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.26 | 0.91 | -1.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.13 | 0.43 | -0.56 |
Drawdowns
TUA vs. IBTO - Drawdown Comparison
The maximum TUA drawdown since its inception was -15.85%, which is greater than IBTO's maximum drawdown of -8.36%. Use the drawdown chart below to compare losses from any high point for TUA and IBTO.
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Drawdown Indicators
| TUA | IBTO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -8.36% | -7.49% |
Max Drawdown (1Y)Largest decline over 1 year | -6.68% | -3.66% | -3.02% |
Max Drawdown (3Y)Largest decline over 3 years | -9.14% | — | — |
Current DrawdownCurrent decline from peak | -10.05% | -2.63% | -7.42% |
Average DrawdownAverage peak-to-trough decline | -8.37% | -2.37% | -6.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 1.26% | +1.27% |
Volatility
TUA vs. IBTO - Volatility Comparison
Simplify Short Term Treasury Futures Strategy ETF (TUA) has a higher volatility of 1.95% compared to iShares iBonds Dec 2033 Term Treasury ETF (IBTO) at 1.32%. This indicates that TUA's price experiences larger fluctuations and is considered to be riskier than IBTO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TUA | IBTO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.95% | 1.32% | +0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 4.84% | 3.02% | +1.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.85% | 4.46% | +2.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.76% | 6.61% | +4.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.76% | 6.61% | +4.15% |
TUA vs. IBTO - Expense Ratio Comparison
TUA has a 0.16% expense ratio, which is higher than IBTO'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. IBTO - Dividend Comparison
TUA's dividend yield for the trailing twelve months is around 3.56%, less than IBTO's 4.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IBTO iShares iBonds Dec 2033 Term Treasury ETF | 4.15% | 4.05% | 4.23% | 1.66% | 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 IBTO have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TUA has higher volatility (1.95%) compared to IBTO (1.32%). In terms of maximum drawdown, TUA dropped -15.85% vs IBTO's -8.36%.
On 1-year performance, IBTO leads with 4.04% vs -1.78% for TUA. On fees, IBTO is cheaper at 0.07% per year. On volatility, IBTO has been the lower-risk option at 1.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBTO has performed better with a 4.04% return vs -1.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBTO is cheaper with a 0.07% expense ratio, compared with 0.16% for TUA.
IBTO has the higher dividend yield at 4.15%, 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 IBTO.
IBTO currently has the higher Sharpe Ratio (0.91 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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