TUA vs. SHY
TUA (Simplify Short Term Treasury Futures Strategy ETF) and SHY (iShares 1-3 Year Treasury Bond ETF) are both exchange-traded funds - TUA is a Intermediate Core Bond fund actively managed by Simplify, while SHY is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index. TUA is actively managed, while SHY is passively managed. Over the past 3 years, TUA returned -0.34%/yr vs 4.07%/yr for SHY. With a 0.95 correlation, they move nearly in lockstep. TUA charges 0.16%/yr vs 0.15%/yr for SHY.
Performance
TUA vs. SHY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TUA achieves a -6.57% return, which is significantly lower than SHY's 0.36% return.
TUA
- 1D
- -0.49%
- 1M
- -0.93%
- YTD
- -6.57%
- 6M
- -6.35%
- 1Y
- -3.65%
- 3Y*
- -0.34%
- 5Y*
- —
- 10Y*
- —
SHY
- 1D
- -0.10%
- 1M
- 0.04%
- YTD
- 0.36%
- 6M
- 0.48%
- 1Y
- 2.93%
- 3Y*
- 4.07%
- 5Y*
- 1.74%
- 10Y*
- 1.61%
TUA vs. SHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TUA Simplify Short Term Treasury Futures Strategy ETF | -6.57% | 7.27% | -3.59% | -2.04% | -0.83% |
SHY iShares 1-3 Year Treasury Bond ETF | 0.36% | 4.95% | 3.92% | 4.16% | 0.43% |
Correlation
The correlation between TUA and SHY is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2022 | 0.95 |
The correlation between TUA and SHY has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TUA vs. SHY — Risk / Return Rank
TUA
SHY
TUA vs. SHY - 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 1-3 Year Treasury Bond ETF (SHY). 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 | SHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.67 | ||
| Sortino ratioReturn per unit of downside risk | -4.08 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.43 | -0.51 |
| Calmar ratioReturn relative to maximum drawdown | -0.50 | 3.31 | -3.81 |
| Martin ratioReturn relative to average drawdown | -1.26 | 12.93 | -14.20 |
Loading charts...
Drawdowns
TUA vs. SHY - Drawdown Comparison
The maximum TUA drawdown since its inception was -15.85%, which is greater than SHY's maximum drawdown of -5.71%. Use the drawdown chart below to compare losses from any high point for TUA and SHY.
Loading charts...
Drawdown Indicators
| TUA | SHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -5.71% | -10.14% |
Max Drawdown (1Y)Largest decline over 1 year | -7.37% | -0.89% | -6.48% |
Max Drawdown (3Y)Largest decline over 3 years | -9.14% | -0.97% | -8.17% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.71% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.71% | — |
Current DrawdownCurrent decline from peak | -11.19% | -0.38% | -10.81% |
Average DrawdownAverage peak-to-trough decline | -8.39% | -0.52% | -7.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 0.23% | +2.67% |
Volatility
TUA vs. SHY - Volatility Comparison
Simplify Short Term Treasury Futures Strategy ETF (TUA) has a higher volatility of 2.66% compared to iShares 1-3 Year Treasury Bond ETF (SHY) at 0.49%. This indicates that TUA's price experiences larger fluctuations and is considered to be riskier than SHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TUA | SHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 0.49% | +2.17% |
Volatility (6M)Calculated over the trailing 6-month period | 5.26% | 1.01% | +4.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.02% | 1.37% | +5.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.76% | 1.99% | +8.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.76% | 1.57% | +9.19% |
TUA vs. SHY - Expense Ratio Comparison
TUA has a 0.16% expense ratio, which is higher than SHY'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. SHY - Dividend Comparison
TUA's dividend yield for the trailing twelve months is around 3.60%, less than SHY's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 3.69% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
TUA Simplify Short Term Treasury Futures Strategy ETF | 3.60% | 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
With a correlation of 0.95, TUA and SHY 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 (2.66%) compared to SHY (0.49%). In terms of maximum drawdown, TUA dropped -15.85% vs SHY's -5.71%.
On 3-year performance, SHY leads with 4.07% vs -0.34% for TUA. On fees, SHY is cheaper at 0.15% per year. On volatility, SHY has been the lower-risk option at 0.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SHY has performed better with a 4.07% return vs -0.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHY is cheaper with a 0.15% expense ratio, compared with 0.16% for TUA.
SHY has the higher dividend yield at 3.69%, compared with 3.60% for TUA.
TUA is categorized as Intermediate Core Bond, while SHY is Government Bonds. They also come from different issuers: Simplify and iShares. Their fees differ too: 0.16% for TUA and 0.15% for SHY.
SHY currently has the higher Sharpe Ratio (2.14 vs -0.52), 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.
Find the right allocation for TUA and SHY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer