TYA vs. SPYM
TYA (Simplify Intermediate Term Treasury Futures Strategy ETF) and SPYM (State Street SPDR Portfolio S&P 500 ETF) are both exchange-traded funds - TYA is a Government Bonds fund actively managed by Simplify, while SPYM is a S&P 500 fund tracking the S&P 500 Index. TYA is actively managed, while SPYM is passively managed. Over the past 3 years, TYA returned -1.87%/yr vs 20.77%/yr for SPYM. At a 0.09 correlation, their price movements are largely independent. TYA charges 0.15%/yr vs 0.02%/yr for SPYM.
Performance
TYA vs. SPYM - 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 SPYM's 8.21% return.
TYA
- 1D
- 0.27%
- 1M
- 0.70%
- YTD
- -5.34%
- 6M
- -5.34%
- 1Y
- -0.95%
- 3Y*
- -1.87%
- 5Y*
- —
- 10Y*
- —
SPYM
- 1D
- -1.44%
- 1M
- -1.32%
- YTD
- 8.21%
- 6M
- 7.24%
- 1Y
- 23.73%
- 3Y*
- 20.77%
- 5Y*
- 13.13%
- 10Y*
- 15.61%
TYA vs. SPYM - 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% |
SPYM State Street SPDR Portfolio S&P 500 ETF | 8.21% | 17.79% | 25.00% | 26.24% | -18.09% | 7.62% |
Correlation
The correlation between TYA and SPYM is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2021 | 0.09 |
The correlation between TYA and SPYM shifts across timeframes, from 0.09 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TYA vs. SPYM — Risk / Return Rank
TYA
SPYM
TYA vs. SPYM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) and State Street SPDR Portfolio S&P 500 ETF (SPYM). 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 | SPYM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.99 | ||
| Sortino ratioReturn per unit of downside risk | -2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.35 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.08 | 2.68 | -2.76 |
| Martin ratioReturn relative to average drawdown | -0.20 | 11.98 | -12.18 |
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Drawdowns
TYA vs. SPYM - Drawdown Comparison
The maximum TYA drawdown since its inception was -51.15%, smaller than the maximum SPYM drawdown of -54.46%. Use the drawdown chart below to compare losses from any high point for TYA and SPYM.
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Drawdown Indicators
| TYA | SPYM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.15% | -54.46% | +3.31% |
Max Drawdown (1Y)Largest decline over 1 year | -11.80% | -8.90% | -2.90% |
Max Drawdown (3Y)Largest decline over 3 years | -21.36% | -18.72% | -2.64% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.48% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.87% | — |
Current DrawdownCurrent decline from peak | -41.65% | -3.14% | -38.51% |
Average DrawdownAverage peak-to-trough decline | -35.88% | -7.14% | -28.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.67% | 1.99% | +2.68% |
Volatility
TYA vs. SPYM - Volatility Comparison
The current volatility for Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) is 3.58%, while State Street SPDR Portfolio S&P 500 ETF (SPYM) has a volatility of 4.83%. This indicates that TYA experiences smaller price fluctuations and is considered to be less risky than SPYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYA | SPYM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.58% | 4.83% | -1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 9.14% | 9.83% | -0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.62% | 12.46% | +0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.50% | 16.90% | +3.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.50% | 18.03% | +2.47% |
TYA vs. SPYM - Expense Ratio Comparison
TYA has a 0.15% expense ratio, which is higher than SPYM's 0.02% 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
TYA vs. SPYM - Dividend Comparison
TYA's dividend yield for the trailing twelve months is around 3.88%, more than SPYM's 1.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPYM State Street SPDR Portfolio S&P 500 ETF | 1.30% | 1.13% | 1.28% | 1.44% | 1.69% | 1.25% | 1.54% | 1.79% | 2.23% | 1.75% | 1.97% | 1.98% |
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 SPYM have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPYM has higher volatility (4.83%) compared to TYA (3.58%). In terms of maximum drawdown, TYA dropped -51.15% vs SPYM's -54.46%.
On 3-year performance, SPYM leads with 20.77% vs -1.87% for TYA. On fees, SPYM is cheaper at 0.02% per year. On volatility, TYA has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SPYM has performed better with a 20.77% return vs -1.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYM is cheaper with a 0.02% expense ratio, compared with 0.15% for TYA.
TYA has the higher dividend yield at 3.88%, compared with 1.30% for SPYM.
TYA is categorized as Government Bonds, while SPYM is S&P 500. They also come from different issuers: Simplify and State Street. Their fees differ too: 0.15% for TYA and 0.02% for SPYM.
SPYM currently has the higher Sharpe Ratio (1.92 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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