TUA vs. SGOV
TUA (Simplify Short Term Treasury Futures Strategy ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - TUA is a Intermediate Core Bond fund actively managed by Simplify, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. TUA is actively managed, while SGOV is passively managed. Over the past 3 years, TUA returned -0.77%/yr vs 4.72%/yr for SGOV. At a 0.03 correlation, their price movements are largely independent. TUA charges 0.16%/yr vs 0.09%/yr for SGOV.
Performance
TUA vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, TUA achieves a -4.96% return, which is significantly lower than SGOV's 1.52% return.
TUA
- 1D
- 0.44%
- 1M
- -0.67%
- YTD
- -4.96%
- 6M
- -4.51%
- 1Y
- -2.21%
- 3Y*
- -0.77%
- 5Y*
- —
- 10Y*
- —
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.52%
- 6M
- 1.79%
- 1Y
- 3.95%
- 3Y*
- 4.72%
- 5Y*
- 3.54%
- 10Y*
- —
TUA vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TUA Simplify Short Term Treasury Futures Strategy ETF | -4.96% | 7.27% | -3.59% | -2.04% | -0.81% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.52% | 4.24% | 5.27% | 5.12% | 0.53% |
Correlation
The correlation between TUA and SGOV is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2022 | 0.03 |
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Return for Risk
TUA vs. SGOV — Risk / Return Rank
TUA
SGOV
TUA vs. SGOV - 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 0-3 Month Treasury Bond ETF (SGOV). 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 | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -20.60 | ||
| Sortino ratioReturn per unit of downside risk | -276.11 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 195.55 | -194.60 |
| Calmar ratioReturn relative to maximum drawdown | -0.33 | 398.20 | -398.53 |
| Martin ratioReturn relative to average drawdown | -0.87 | 4,462.00 | -4,462.87 |
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 | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.33 | 20.28 | -20.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 14.74 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.12 | 12.49 | -12.61 |
Drawdowns
TUA vs. SGOV - Drawdown Comparison
The maximum TUA drawdown since its inception was -15.85%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for TUA and SGOV.
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Drawdown Indicators
| TUA | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -0.03% | -15.82% |
Max Drawdown (1Y)Largest decline over 1 year | -6.68% | -0.01% | -6.67% |
Max Drawdown (3Y)Largest decline over 3 years | -9.14% | -0.01% | -9.13% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.03% | — |
Current DrawdownCurrent decline from peak | -9.65% | 0.00% | -9.65% |
Average DrawdownAverage peak-to-trough decline | -8.37% | -0.00% | -8.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | 0.00% | +2.56% |
Volatility
TUA vs. SGOV - Volatility Comparison
Simplify Short Term Treasury Futures Strategy ETF (TUA) has a higher volatility of 2.00% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that TUA's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TUA | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.00% | 0.05% | +1.95% |
Volatility (6M)Calculated over the trailing 6-month period | 4.85% | 0.13% | +4.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.86% | 0.20% | +6.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.76% | 0.24% | +10.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.76% | 0.24% | +10.52% |
TUA vs. SGOV - Expense Ratio Comparison
TUA has a 0.16% expense ratio, which is higher than SGOV's 0.09% 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. SGOV - Dividend Comparison
TUA's dividend yield for the trailing twelve months is around 3.54%, less than SGOV's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
SGOV iShares 0-3 Month Treasury Bond ETF | 3.86% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% |
TUA Simplify Short Term Treasury Futures Strategy ETF | 3.54% | 3.84% | 5.19% | 4.83% | 0.15% | 0.00% | 0.00% |
Frequently Asked Questions
TUA and SGOV have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TUA has higher volatility (2.00%) compared to SGOV (0.05%). In terms of maximum drawdown, TUA dropped -15.85% vs SGOV's -0.03%.
On 3-year performance, SGOV leads with 4.72% vs -0.77% for TUA. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SGOV has performed better with a 4.72% return vs -0.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.16% for TUA.
SGOV has the higher dividend yield at 3.86%, compared with 3.54% for TUA.
TUA is categorized as Intermediate Core Bond, while SGOV is Ultrashort Bond. They also come from different issuers: Simplify and iShares. Their fees differ too: 0.16% for TUA and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 vs -0.33), 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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