TUA vs. PRVBX
TUA (Simplify Short Term Treasury Futures Strategy ETF) and PRVBX (Permanent Portfolio Versatile Bond Portfolio) are both funds - TUA is a Intermediate Core Bond fund actively managed by Simplify, while PRVBX is a Short-Term Bond fund managed by Permanent Portfolio. Over the past 3 years, TUA returned 0.30%/yr vs 5.35%/yr for PRVBX. Their 0.63 correlation means they have sometimes moved together and sometimes differently. TUA charges 0.16%/yr vs 0.64%/yr for PRVBX.
Performance
TUA vs. PRVBX - Performance Comparison
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Returns By Period
In the year-to-date period, TUA achieves a -6.16% return, which is significantly lower than PRVBX's 1.17% return.
TUA
- 1D
- 0.22%
- 1M
- -0.88%
- 6M
- -5.37%
- YTD
- -6.16%
- 1Y
- -5.03%
- 3Y*
- 0.30%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.57%
PRVBX
- 1D
- -0.05%
- 1M
- -0.06%
- 6M
- 0.52%
- YTD
- 1.17%
- 1Y
- 3.23%
- 3Y*
- 5.35%
- 5Y*
- 2.52%
- 10Y*
- 4.21%
- ALL TIME*
- 3.67%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $11.78M | $10.08M | $8.27M |
TUA vs. PRVBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TUA Simplify Short Term Treasury Futures Strategy ETF | -6.16% | 7.27% | -3.59% | -2.04% | -0.83% |
PRVBX Permanent Portfolio Versatile Bond Portfolio | 1.17% | 5.66% | 5.78% | 6.91% | 0.28% |
Correlation
The correlation between TUA and PRVBX is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.56 |
Correlation (3Y) Balances recent behavior with more history. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2022 | 0.63 |
The correlation between TUA and PRVBX has been stable across timeframes, ranging from 0.56 to 0.63 - a consistent structural relationship.
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Return for Risk
TUA vs. PRVBX — Risk / Return Rank
TUA
PRVBX
TUA vs. PRVBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Short Term Treasury Futures Strategy ETF (TUA) and Permanent Portfolio Versatile Bond Portfolio (PRVBX). 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 | PRVBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.63 | ||
| Sortino ratioReturn per unit of downside risk | -3.78 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.35 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | 2.26 | -2.90 |
| Martin ratioReturn relative to average drawdown | -1.37 | 8.60 | -9.97 |
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Drawdowns
TUA vs. PRVBX - Drawdown Comparison
The maximum TUA drawdown since its inception was -15.85%, smaller than the maximum PRVBX drawdown of -16.91%. Use the drawdown chart below to compare losses from any high point for TUA and PRVBX.
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Drawdown Indicators
| TUA | PRVBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -16.91% | +1.06% |
Max Drawdown (1Y)Largest decline over 1 year | -7.96% | -1.51% | -6.45% |
Max Drawdown (3Y)Largest decline over 3 years | -9.14% | -1.51% | -7.63% |
Max Drawdown (5Y)Largest decline over 5 years | — | -8.22% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.91% | — |
Current DrawdownCurrent decline from peak | -10.79% | -0.27% | -10.52% |
Average DrawdownAverage peak-to-trough decline | -8.45% | -0.72% | -7.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.67% | 0.40% | +3.27% |
Volatility
TUA vs. PRVBX - Volatility Comparison
Simplify Short Term Treasury Futures Strategy ETF (TUA) has a higher volatility of 1.86% compared to Permanent Portfolio Versatile Bond Portfolio (PRVBX) at 0.46%. This indicates that TUA's price experiences larger fluctuations and is considered to be riskier than PRVBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TUA | PRVBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.86% | 0.46% | +1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 5.57% | 1.48% | +4.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.59% | 1.84% | +4.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.65% | 2.37% | +8.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.65% | 4.35% | +6.30% |
TUA vs. PRVBX - Expense Ratio Comparison
TUA has a 0.16% expense ratio, which is lower than PRVBX's 0.64% expense ratio.
Dividends
TUA vs. PRVBX - Dividend Comparison
TUA's dividend yield for the trailing twelve months is around 3.11%, less than PRVBX's 4.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRVBX Permanent Portfolio Versatile Bond Portfolio | 4.13% | 4.18% | 3.61% | 3.16% | 1.83% | 0.85% | 4.73% | 2.51% | 1.71% | 3.30% | 3.27% | 5.71% |
TUA Simplify Short Term Treasury Futures Strategy ETF | 3.11% | 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 PRVBX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TUA has higher volatility (1.86%) compared to PRVBX (0.46%). In terms of maximum drawdown, TUA dropped -15.85% vs PRVBX's -16.91%.
PRVBX currently has the higher Sharpe Ratio (1.86 vs -0.77), 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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