TYA vs. SHY
TYA (Simplify Intermediate Term Treasury Futures Strategy ETF) and SHY (iShares 1-3 Year Treasury Bond ETF) are both Government Bonds funds. TYA is actively managed, while SHY is passively managed. Over the past 3 years, TYA returned -1.87%/yr vs 4.10%/yr for SHY. Their correlation of 0.87 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.
Performance
TYA vs. SHY - Performance Comparison
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Returns By Period
In the year-to-date period, TYA achieves a -5.34% return, which is significantly lower than SHY's 0.43% return.
TYA
- 1D
- 0.27%
- 1M
- 0.70%
- YTD
- -5.34%
- 6M
- -5.34%
- 1Y
- -0.95%
- 3Y*
- -1.87%
- 5Y*
- —
- 10Y*
- —
SHY
- 1D
- 0.07%
- 1M
- 0.11%
- YTD
- 0.43%
- 6M
- 0.60%
- 1Y
- 2.87%
- 3Y*
- 4.10%
- 5Y*
- 1.75%
- 10Y*
- 1.62%
TYA vs. SHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TYA Simplify Intermediate Term Treasury Futures Strategy ETF | -5.34% | 14.38% | -9.63% | -2.23% | -37.62% | -0.80% |
SHY iShares 1-3 Year Treasury Bond ETF | 0.43% | 4.95% | 3.92% | 4.16% | -3.88% | -0.53% |
Correlation
The correlation between TYA and SHY is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2021 | 0.87 |
The correlation between TYA and SHY has been stable across timeframes, ranging from 0.87 to 0.88 - a consistent structural relationship.
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Return for Risk
TYA vs. SHY — Risk / Return Rank
TYA
SHY
TYA vs. SHY - 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 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.
| TYA | SHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.18 | ||
| Sortino ratioReturn per unit of downside risk | -3.33 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.42 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.08 | 3.24 | -3.32 |
| Martin ratioReturn relative to average drawdown | -0.20 | 12.62 | -12.82 |
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Drawdowns
TYA vs. SHY - Drawdown Comparison
The maximum TYA drawdown since its inception was -51.15%, which is greater than SHY's maximum drawdown of -5.71%. Use the drawdown chart below to compare losses from any high point for TYA and SHY.
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Drawdown Indicators
| TYA | SHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.15% | -5.71% | -45.44% |
Max Drawdown (1Y)Largest decline over 1 year | -11.80% | -0.89% | -10.91% |
Max Drawdown (3Y)Largest decline over 3 years | -21.36% | -0.97% | -20.39% |
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 | -41.65% | -0.31% | -41.34% |
Average DrawdownAverage peak-to-trough decline | -35.88% | -0.52% | -35.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.67% | 0.23% | +4.44% |
Volatility
TYA vs. SHY - Volatility Comparison
Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) has a higher volatility of 3.58% compared to iShares 1-3 Year Treasury Bond ETF (SHY) at 0.50%. This indicates that TYA'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.
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Volatility by Period
| TYA | SHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.58% | 0.50% | +3.08% |
Volatility (6M)Calculated over the trailing 6-month period | 9.14% | 1.01% | +8.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.62% | 1.37% | +11.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.50% | 1.99% | +18.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.50% | 1.57% | +18.93% |
TYA vs. SHY - Expense Ratio Comparison
Both TYA and SHY 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. SHY - Dividend Comparison
TYA's dividend yield for the trailing twelve months is around 3.88%, more than SHY's 3.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 3.68% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
TYA Simplify Intermediate Term Treasury Futures Strategy ETF | 3.88% | 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
TYA and SHY have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TYA has higher volatility (3.58%) compared to SHY (0.50%). In terms of maximum drawdown, TYA dropped -51.15% vs SHY's -5.71%.
On 3-year performance, SHY leads with 4.10% vs -1.87% for TYA. Both ETFs have the same 0.15% expense ratio. On volatility, SHY has been the lower-risk option at 0.50%. 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 4.10% return vs -1.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TYA and SHY have the same expense ratio: 0.15% per year.
TYA has the higher dividend yield at 3.88%, compared with 3.68% for SHY.
They also come from different issuers: Simplify and iShares.
SHY currently has the higher Sharpe Ratio (2.10 vs -0.08), 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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