TUA vs. IEF
TUA (Simplify Short Term Treasury Futures Strategy ETF) and IEF (iShares 7-10 Year Treasury Bond ETF) are both exchange-traded funds - TUA is a Intermediate Core Bond fund actively managed by Simplify, while IEF is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index. TUA is actively managed, while IEF is passively managed. Over the past 3 years, TUA returned -0.18%/yr vs 2.59%/yr for IEF. Their correlation of 0.83 suggests significant overlap in exposure. TUA charges 0.16%/yr vs 0.15%/yr for IEF.
Performance
TUA vs. IEF - 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 IEF's -0.53% return.
TUA
- 1D
- 0.49%
- 1M
- -0.44%
- YTD
- -6.11%
- 6M
- -5.54%
- 1Y
- -3.80%
- 3Y*
- -0.18%
- 5Y*
- —
- 10Y*
- —
IEF
- 1D
- 0.13%
- 1M
- 0.59%
- YTD
- -0.53%
- 6M
- -0.47%
- 1Y
- 3.01%
- 3Y*
- 2.59%
- 5Y*
- -1.17%
- 10Y*
- 0.53%
TUA vs. IEF - 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% |
IEF iShares 7-10 Year Treasury Bond ETF | -0.53% | 8.03% | -0.63% | 3.64% | 0.47% |
Correlation
The correlation between TUA and IEF is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2022 | 0.83 |
The correlation between TUA and IEF has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.
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Return for Risk
TUA vs. IEF — Risk / Return Rank
TUA
IEF
TUA vs. IEF - 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 7-10 Year Treasury Bond ETF (IEF). 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 | IEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.19 | ||
| Sortino ratioReturn per unit of downside risk | -1.70 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.11 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 0.74 | -1.26 |
| Martin ratioReturn relative to average drawdown | -1.30 | 2.01 | -3.30 |
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Drawdowns
TUA vs. IEF - Drawdown Comparison
The maximum TUA drawdown since its inception was -15.85%, smaller than the maximum IEF drawdown of -23.93%. Use the drawdown chart below to compare losses from any high point for TUA and IEF.
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Drawdown Indicators
| TUA | IEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -23.93% | +8.08% |
Max Drawdown (1Y)Largest decline over 1 year | -7.37% | -4.07% | -3.30% |
Max Drawdown (3Y)Largest decline over 3 years | -9.14% | -7.74% | -1.40% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.40% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.93% | — |
Current DrawdownCurrent decline from peak | -10.75% | -11.23% | +0.48% |
Average DrawdownAverage peak-to-trough decline | -8.39% | -5.36% | -3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.93% | 1.50% | +1.43% |
Volatility
TUA vs. IEF - Volatility Comparison
Simplify Short Term Treasury Futures Strategy ETF (TUA) has a higher volatility of 2.72% compared to iShares 7-10 Year Treasury Bond ETF (IEF) at 1.41%. This indicates that TUA's price experiences larger fluctuations and is considered to be riskier than IEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TUA | IEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.72% | 1.41% | +1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 5.28% | 3.48% | +1.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.03% | 4.72% | +2.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.75% | 7.71% | +3.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.75% | 6.62% | +4.13% |
TUA vs. IEF - Expense Ratio Comparison
TUA has a 0.16% expense ratio, which is higher than IEF's 0.15% 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. IEF - Dividend Comparison
TUA's dividend yield for the trailing twelve months is around 3.58%, less than IEF's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | 3.90% | 3.77% | 3.62% | 2.91% | 1.96% | 0.83% | 1.08% | 2.08% | 2.24% | 1.82% | 1.81% | 1.90% |
TUA Simplify Short Term Treasury Futures Strategy ETF | 3.58% | 3.84% | 5.19% | 4.83% | 0.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TUA and IEF have a correlation of 0.88, 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 IEF (1.41%). In terms of maximum drawdown, TUA dropped -15.85% vs IEF's -23.93%.
On 3-year performance, IEF leads with 2.59% vs -0.18% for TUA. On fees, IEF is cheaper at 0.15% per year. On volatility, IEF has been the lower-risk option at 1.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IEF has performed better with a 2.59% return vs -0.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEF is cheaper with a 0.15% expense ratio, compared with 0.16% for TUA.
IEF has the higher dividend yield at 3.90%, compared with 3.58% for TUA.
TUA is categorized as Intermediate Core Bond, while IEF is Government Bonds. They also come from different issuers: Simplify and iShares. Their fees differ too: 0.16% for TUA and 0.15% for IEF.
IEF currently has the higher Sharpe Ratio (0.64 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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