TUA vs. SPY
TUA (Simplify Short Term Treasury Futures Strategy ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - TUA is a Intermediate Core Bond fund actively managed by Simplify, while SPY is a S&P 500 fund tracking the S&P 500 Index. TUA is actively managed, while SPY is passively managed. Over the past 3 years, TUA returned -0.18%/yr vs 20.68%/yr for SPY. At a 0.03 correlation, their price movements are largely independent. TUA charges 0.16%/yr vs 0.09%/yr for SPY.
Performance
TUA vs. SPY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TUA achieves a -6.11% return, which is significantly lower than SPY's 8.15% return.
TUA
- 1D
- 0.49%
- 1M
- -0.44%
- YTD
- -6.11%
- 6M
- -5.54%
- 1Y
- -3.80%
- 3Y*
- -0.18%
- 5Y*
- —
- 10Y*
- —
SPY
- 1D
- -1.45%
- 1M
- -1.36%
- YTD
- 8.15%
- 6M
- 7.20%
- 1Y
- 23.59%
- 3Y*
- 20.68%
- 5Y*
- 13.05%
- 10Y*
- 15.53%
TUA vs. SPY - 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% |
SPY State Street SPDR S&P 500 ETF | 8.15% | 17.72% | 24.89% | 26.18% | -2.77% |
Correlation
The correlation between TUA and SPY is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2022 | 0.03 |
The correlation between TUA and SPY shifts across timeframes, from 0.03 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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. SPY — Risk / Return Rank
TUA
SPY
TUA vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Short Term Treasury Futures Strategy ETF (TUA) and State Street SPDR S&P 500 ETF (SPY). 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 | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.44 | ||
| Sortino ratioReturn per unit of downside risk | -3.31 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.34 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 2.67 | -3.18 |
| Martin ratioReturn relative to average drawdown | -1.30 | 11.92 | -13.22 |
Loading charts...
Drawdowns
TUA vs. SPY - Drawdown Comparison
The maximum TUA drawdown since its inception was -15.85%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for TUA and SPY.
Loading charts...
Drawdown Indicators
| TUA | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -55.19% | +39.34% |
Max Drawdown (1Y)Largest decline over 1 year | -7.37% | -8.88% | +1.51% |
Max Drawdown (3Y)Largest decline over 3 years | -9.14% | -18.76% | +9.62% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -10.75% | -3.17% | -7.58% |
Average DrawdownAverage peak-to-trough decline | -8.39% | -9.04% | +0.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.93% | 1.98% | +0.95% |
Volatility
TUA vs. SPY - Volatility Comparison
The current volatility for Simplify Short Term Treasury Futures Strategy ETF (TUA) is 2.72%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 4.87%. This indicates that TUA experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TUA | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.72% | 4.87% | -2.15% |
Volatility (6M)Calculated over the trailing 6-month period | 5.28% | 9.85% | -4.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.03% | 12.50% | -5.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.75% | 17.15% | -6.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.75% | 17.95% | -7.20% |
TUA vs. SPY - Expense Ratio Comparison
TUA has a 0.16% expense ratio, which is higher than SPY'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. SPY - Dividend Comparison
TUA's dividend yield for the trailing twelve months is around 3.58%, more than SPY's 1.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPY State Street SPDR S&P 500 ETF | 1.03% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
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 SPY have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPY has higher volatility (4.87%) compared to TUA (2.72%). In terms of maximum drawdown, TUA dropped -15.85% vs SPY's -55.19%.
On 3-year performance, SPY leads with 20.68% vs -0.18% for TUA. On fees, SPY is cheaper at 0.09% per year. On volatility, TUA has been the lower-risk option at 2.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SPY has performed better with a 20.68% return vs -0.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPY is cheaper with a 0.09% expense ratio, compared with 0.16% for TUA.
TUA has the higher dividend yield at 3.58%, compared with 1.03% for SPY.
TUA is categorized as Intermediate Core Bond, while SPY is S&P 500. They also come from different issuers: Simplify and State Street. Their fees differ too: 0.16% for TUA and 0.09% for SPY.
SPY currently has the higher Sharpe Ratio (1.90 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.
Find the right allocation for TUA and SPY
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