TUA vs. VGSH
TUA (Simplify Short Term Treasury Futures Strategy ETF) and VGSH (Vanguard Short-Term Treasury ETF) are both exchange-traded funds - TUA is a Intermediate Core Bond fund actively managed by Simplify, while VGSH is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. TUA is actively managed, while VGSH is passively managed. Over the past 3 years, TUA returned -0.88%/yr vs 4.15%/yr for VGSH. With a 0.96 correlation, they move nearly in lockstep. TUA charges 0.16%/yr vs 0.03%/yr for VGSH.
Performance
TUA vs. VGSH - Performance Comparison
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Returns By Period
In the year-to-date period, TUA achieves a -5.38% return, which is significantly lower than VGSH's 0.48% return.
TUA
- 1D
- -0.39%
- 1M
- -0.91%
- YTD
- -5.38%
- 6M
- -5.28%
- 1Y
- -1.78%
- 3Y*
- -0.88%
- 5Y*
- —
- 10Y*
- —
VGSH
- 1D
- -0.03%
- 1M
- 0.08%
- YTD
- 0.48%
- 6M
- 0.74%
- 1Y
- 3.43%
- 3Y*
- 4.15%
- 5Y*
- 1.81%
- 10Y*
- 1.74%
TUA vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TUA Simplify Short Term Treasury Futures Strategy ETF | -5.38% | 7.27% | -3.59% | -2.04% | -0.81% |
VGSH Vanguard Short-Term Treasury ETF | 0.48% | 5.07% | 4.00% | 4.31% | 0.33% |
Correlation
The correlation between TUA and VGSH is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2022 | 0.96 |
The correlation between TUA and VGSH has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
TUA vs. VGSH — Risk / Return Rank
TUA
VGSH
TUA vs. VGSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Short Term Treasury Futures Strategy ETF (TUA) and Vanguard Short-Term Treasury ETF (VGSH). 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 | VGSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.94 | ||
| Sortino ratioReturn per unit of downside risk | -4.76 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.57 | -0.60 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | 3.90 | -4.16 |
| Martin ratioReturn relative to average drawdown | -0.71 | 15.52 | -16.22 |
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 | VGSH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.26 | 2.68 | -2.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.93 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.13 | 1.01 | -1.15 |
Drawdowns
TUA vs. VGSH - Drawdown Comparison
The maximum TUA drawdown since its inception was -15.85%, which is greater than VGSH's maximum drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for TUA and VGSH.
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Drawdown Indicators
| TUA | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -5.70% | -10.15% |
Max Drawdown (1Y)Largest decline over 1 year | -6.68% | -0.88% | -5.80% |
Max Drawdown (3Y)Largest decline over 3 years | -9.14% | -0.97% | -8.17% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.66% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.70% | — |
Current DrawdownCurrent decline from peak | -10.05% | -0.29% | -9.76% |
Average DrawdownAverage peak-to-trough decline | -8.37% | -0.60% | -7.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 0.22% | +2.31% |
Volatility
TUA vs. VGSH - Volatility Comparison
Simplify Short Term Treasury Futures Strategy ETF (TUA) has a higher volatility of 1.95% compared to Vanguard Short-Term Treasury ETF (VGSH) at 0.35%. This indicates that TUA's price experiences larger fluctuations and is considered to be riskier than VGSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TUA | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.95% | 0.35% | +1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 4.84% | 0.88% | +3.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.85% | 1.29% | +5.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.76% | 1.97% | +8.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.76% | 1.57% | +9.19% |
TUA vs. VGSH - Expense Ratio Comparison
TUA has a 0.16% expense ratio, which is higher than VGSH's 0.03% 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. VGSH - Dividend Comparison
TUA's dividend yield for the trailing twelve months is around 3.56%, less than VGSH's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TUA Simplify Short Term Treasury Futures Strategy ETF | 3.56% | 3.84% | 5.19% | 4.83% | 0.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGSH Vanguard Short-Term Treasury ETF | 3.87% | 4.00% | 4.18% | 3.31% | 1.15% | 0.66% | 1.74% | 2.28% | 1.79% | 1.10% | 0.84% | 0.69% |
Frequently Asked Questions
With a correlation of 0.97, TUA and VGSH 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 (1.95%) compared to VGSH (0.35%). In terms of maximum drawdown, TUA dropped -15.85% vs VGSH's -5.70%.
On 3-year performance, VGSH leads with 4.15% vs -0.88% for TUA. On fees, VGSH is cheaper at 0.03% per year. On volatility, VGSH has been the lower-risk option at 0.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, VGSH has performed better with a 4.15% return vs -0.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGSH is cheaper with a 0.03% expense ratio, compared with 0.16% for TUA.
VGSH has the higher dividend yield at 3.87%, compared with 3.56% for TUA.
TUA is categorized as Intermediate Core Bond, while VGSH is Government Bonds. They also come from different issuers: Simplify and Vanguard. Their fees differ too: 0.16% for TUA and 0.03% for VGSH.
VGSH currently has the higher Sharpe Ratio (2.68 vs -0.26), 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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