TYA vs. IEF
TYA (Simplify Intermediate Term Treasury Futures Strategy ETF) and IEF (iShares 7-10 Year Treasury Bond ETF) are both Government Bonds funds. TYA is actively managed, while IEF is passively managed. Over the past 3 years, TYA returned -1.95%/yr vs 2.55%/yr for IEF. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.15% expense ratio.
Performance
TYA vs. IEF - Performance Comparison
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Returns By Period
In the year-to-date period, TYA achieves a -5.59% return, which is significantly lower than IEF's -0.66% return.
TYA
- 1D
- -0.89%
- 1M
- 0.43%
- YTD
- -5.59%
- 6M
- -5.80%
- 1Y
- -0.30%
- 3Y*
- -1.95%
- 5Y*
- —
- 10Y*
- —
IEF
- 1D
- -0.38%
- 1M
- 0.46%
- YTD
- -0.66%
- 6M
- -0.64%
- 1Y
- 3.24%
- 3Y*
- 2.55%
- 5Y*
- -1.20%
- 10Y*
- 0.51%
TYA vs. IEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TYA Simplify Intermediate Term Treasury Futures Strategy ETF | -5.59% | 14.38% | -9.63% | -2.23% | -37.62% | -0.80% |
IEF iShares 7-10 Year Treasury Bond ETF | -0.66% | 8.03% | -0.63% | 3.64% | -15.15% | -0.04% |
Correlation
The correlation between TYA and IEF is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2021 | 0.99 |
The correlation between TYA and IEF has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
TYA vs. IEF — Risk / Return Rank
TYA
IEF
TYA vs. IEF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) and iShares 7-10 Year Treasury Bond ETF (IEF). 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.
| TYA | IEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.12 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 0.80 | -0.82 |
| Martin ratioReturn relative to average drawdown | -0.07 | 2.17 | -2.24 |
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Drawdowns
TYA vs. IEF - Drawdown Comparison
The maximum TYA drawdown since its inception was -51.15%, which is greater than IEF's maximum drawdown of -23.93%. Use the drawdown chart below to compare losses from any high point for TYA and IEF.
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Drawdown Indicators
| TYA | IEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.15% | -23.93% | -27.22% |
Max Drawdown (1Y)Largest decline over 1 year | -11.80% | -4.07% | -7.73% |
Max Drawdown (3Y)Largest decline over 3 years | -21.36% | -7.74% | -13.62% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.40% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.93% | — |
Current DrawdownCurrent decline from peak | -41.80% | -11.35% | -30.45% |
Average DrawdownAverage peak-to-trough decline | -35.88% | -5.36% | -30.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.63% | 1.49% | +3.14% |
Volatility
TYA vs. IEF - Volatility Comparison
Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) has a higher volatility of 3.57% compared to iShares 7-10 Year Treasury Bond ETF (IEF) at 1.41%. This indicates that TYA's price experiences larger fluctuations and is considered to be riskier than IEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYA | IEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 1.41% | +2.16% |
Volatility (6M)Calculated over the trailing 6-month period | 9.17% | 3.49% | +5.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.64% | 4.73% | +7.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.51% | 7.71% | +12.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.51% | 6.63% | +13.88% |
TYA vs. IEF - Expense Ratio Comparison
Both TYA and IEF have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
TYA vs. IEF - Dividend Comparison
TYA's dividend yield for the trailing twelve months is around 3.89%, which matches IEF's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | 3.90% | 3.77% | 3.62% | 2.91% | 1.96% | 0.83% | 1.08% | 2.08% | 2.24% | 1.82% | 1.81% | 1.90% |
TYA Simplify Intermediate Term Treasury Futures Strategy ETF | 3.89% | 3.85% | 4.84% | 4.28% | 2.23% | 0.11% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, TYA and IEF 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.
TYA has higher volatility (3.57%) compared to IEF (1.41%). In terms of maximum drawdown, TYA dropped -51.15% vs IEF's -23.93%.
On 3-year performance, IEF leads with 2.55% vs -1.95% for TYA. Both ETFs have the same 0.15% expense ratio. On volatility, IEF has been the lower-risk option at 1.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IEF has performed better with a 2.55% return vs -1.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TYA and IEF have the same expense ratio: 0.15% per year.
IEF has the higher dividend yield at 3.90%, compared with 3.89% for TYA.
They also come from different issuers: Simplify and iShares.
IEF currently has the higher Sharpe Ratio (0.69 vs -0.02), 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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