TYA vs. TUA
TYA (Simplify Intermediate Term Treasury Futures Strategy ETF) and TUA (Simplify Short Term Treasury Futures Strategy ETF) are both exchange-traded funds - TYA is a Government Bonds fund actively managed by Simplify, while TUA is a Intermediate Core Bond fund actively managed by Simplify. Both are actively managed. Over the past 3 years, TYA returned -0.87%/yr vs 0.67%/yr for TUA. Their correlation of 0.87 means they have usually moved in the same direction. TYA charges 0.15%/yr vs 0.16%/yr for TUA.
Performance
TYA vs. TUA - Performance Comparison
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Returns By Period
In the year-to-date period, TYA achieves a -7.86% return, which is significantly lower than TUA's -6.37% return.
TYA
- 1D
- -0.73%
- 1M
- -3.46%
- 6M
- -7.00%
- YTD
- -7.86%
- 1Y
- -6.50%
- 3Y*
- -0.87%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -10.77%
TUA
- 1D
- -0.32%
- 1M
- -1.10%
- 6M
- -5.88%
- YTD
- -6.37%
- 1Y
- -5.24%
- 3Y*
- 0.67%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.89M | $10.24M | $8.33M | |
| $285.08K | $301.16K | $687.50K |
TYA vs. TUA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TYA Simplify Intermediate Term Treasury Futures Strategy ETF | -7.86% | 14.38% | -9.63% | -2.23% | -0.51% |
TUA Simplify Short Term Treasury Futures Strategy ETF | -6.37% | 7.27% | -3.59% | -2.04% | -0.83% |
Correlation
The correlation between TYA and TUA is 0.90, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.86 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2022 | 0.87 |
The correlation between TYA and TUA has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.
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Return for Risk
TYA vs. TUA — Risk / Return Rank
TYA
TUA
TYA vs. TUA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) and Simplify Short Term Treasury Futures Strategy ETF (TUA). 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 | TUA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.94 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | -0.37 | +0.10 |
| Martin ratioReturn relative to average drawdown | -0.58 | -0.81 | +0.22 |
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Drawdowns
TYA vs. TUA - Drawdown Comparison
The maximum TYA drawdown since its inception was -51.15%, which is greater than TUA's maximum drawdown of -15.85%. Use the drawdown chart below to compare losses from any high point for TYA and TUA.
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Drawdown Indicators
| TYA | TUA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.15% | -15.85% | -35.30% |
Max Drawdown (1Y)Largest decline over 1 year | -12.24% | -7.96% | -4.28% |
Max Drawdown (3Y)Largest decline over 3 years | -19.13% | -9.14% | -9.99% |
Current DrawdownCurrent decline from peak | -43.21% | -10.99% | -32.22% |
Average DrawdownAverage peak-to-trough decline | -36.02% | -8.45% | -27.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.63% | 3.64% | +1.99% |
Volatility
TYA vs. TUA - Volatility Comparison
Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) has a higher volatility of 3.24% compared to Simplify Short Term Treasury Futures Strategy ETF (TUA) at 1.91%. This indicates that TYA's price experiences larger fluctuations and is considered to be riskier than TUA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYA | TUA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.24% | 1.91% | +1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 9.62% | 5.57% | +4.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.44% | 7.01% | +5.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.35% | 10.65% | +9.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.35% | 10.65% | +9.70% |
TYA vs. TUA - Expense Ratio Comparison
TYA has a 0.15% expense ratio, which is lower than TUA's 0.16% expense ratio. Despite the difference, 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. TUA - Dividend Comparison
TYA's dividend yield for the trailing twelve months is around 3.76%, more than TUA's 3.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
TUA Simplify Short Term Treasury Futures Strategy ETF | 3.12% | 3.84% | 5.19% | 4.83% | 0.15% | 0.00% |
TYA Simplify Intermediate Term Treasury Futures Strategy ETF | 3.76% | 3.85% | 4.84% | 4.28% | 2.23% | 0.11% |
Frequently Asked Questions
TYA and TUA have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TYA has higher volatility (3.24%) compared to TUA (1.91%). In terms of maximum drawdown, TYA dropped -51.15% vs TUA's -15.85%.
On 3-year performance, TUA leads with 0.67% vs -0.87% for TYA. On fees, TYA is cheaper at 0.15% per year. On volatility, TUA has been the lower-risk option at 1.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TUA has performed better with a 0.67% return vs -0.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TYA is cheaper with a 0.15% expense ratio, compared with 0.16% for TUA.
TYA has the higher dividend yield at 3.76%, compared with 3.12% for TUA.
TYA is categorized as Government Bonds, while TUA is Intermediate Core Bond. Their fees differ too: 0.15% for TYA and 0.16% for TUA.
TYA currently has the higher Sharpe Ratio (-0.27 vs -0.42), 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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