TYA vs. UST
TYA (Simplify Intermediate Term Treasury Futures Strategy ETF) and UST (ProShares Ultra 7-10 Year Treasury) are both exchange-traded funds - TYA is a Government Bonds fund actively managed by Simplify, while UST is a Leveraged Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index. TYA is actively managed, while UST is passively managed. Over the past 3 years, TYA returned -1.00%/yr vs 0.46%/yr for UST. Their 0.97 correlation means they have historically moved very closely together. TYA charges 0.15%/yr vs 0.95%/yr for UST.
Performance
TYA vs. UST - Performance Comparison
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Returns By Period
In the year-to-date period, TYA achieves a -7.44% return, which is significantly lower than UST's -4.75% return.
TYA
- 1D
- 0.46%
- 1M
- -3.02%
- 6M
- -6.00%
- YTD
- -7.44%
- 1Y
- -6.08%
- 3Y*
- -1.00%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -10.67%
UST
- 1D
- 0.56%
- 1M
- -2.55%
- 6M
- -3.81%
- YTD
- -4.75%
- 1Y
- -2.66%
- 3Y*
- 0.46%
- 5Y*
- -8.21%
- 10Y*
- -2.53%
- ALL TIME*
- 2.37%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $293.95K | $302.74K | $683.37K | |
| $493.89K | $437.03K | $327.72K |
TYA vs. UST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TYA Simplify Intermediate Term Treasury Futures Strategy ETF | -7.44% | 14.38% | -9.63% | -2.23% | -37.62% | -0.80% |
UST ProShares Ultra 7-10 Year Treasury | -4.75% | 10.26% | -6.19% | 0.16% | -30.19% | -0.76% |
Correlation
The correlation between TYA and UST is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.97 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2021 | 0.97 |
The correlation between TYA and UST has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
TYA vs. UST — Risk / Return Rank
TYA
UST
TYA vs. UST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) and ProShares Ultra 7-10 Year Treasury (UST). 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 | UST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 0.96 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.50 | -0.30 | -0.20 |
| Martin ratioReturn relative to average drawdown | -1.07 | -0.66 | -0.42 |
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Drawdowns
TYA vs. UST - Drawdown Comparison
The maximum TYA drawdown since its inception was -51.15%, which is greater than UST's maximum drawdown of -47.99%. Use the drawdown chart below to compare losses from any high point for TYA and UST.
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Drawdown Indicators
| TYA | UST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.15% | -47.99% | -3.16% |
Max Drawdown (1Y)Largest decline over 1 year | -12.24% | -8.86% | -3.38% |
Max Drawdown (3Y)Largest decline over 3 years | -19.13% | -14.85% | -4.28% |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.53% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.99% | — |
Current DrawdownCurrent decline from peak | -42.95% | -39.52% | -3.43% |
Average DrawdownAverage peak-to-trough decline | -36.02% | -15.35% | -20.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.68% | 4.07% | +1.61% |
Volatility
TYA vs. UST - Volatility Comparison
Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) has a higher volatility of 3.30% compared to ProShares Ultra 7-10 Year Treasury (UST) at 2.65%. This indicates that TYA's price experiences larger fluctuations and is considered to be riskier than UST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TYA | UST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.30% | 2.65% | +0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 9.64% | 7.24% | +2.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.99% | 9.01% | +2.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.35% | 15.45% | +4.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.35% | 13.15% | +7.20% |
TYA vs. UST - Expense Ratio Comparison
TYA has a 0.15% expense ratio, which is lower than UST's 0.95% expense ratio.
Dividends
TYA vs. UST - Dividend Comparison
TYA's dividend yield for the trailing twelve months is around 3.74%, more than UST's 3.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TYA Simplify Intermediate Term Treasury Futures Strategy ETF | 3.74% | 3.85% | 4.84% | 4.28% | 2.23% | 0.11% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UST ProShares Ultra 7-10 Year Treasury | 3.63% | 3.65% | 4.09% | 3.49% | 0.47% | 0.27% | 0.53% | 1.42% | 1.71% | 0.84% | 0.64% | 0.75% |
Frequently Asked Questions
With a correlation of 0.97, TYA and UST 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 (3.30%) compared to UST (2.65%). In terms of maximum drawdown, TYA dropped -51.15% vs UST's -47.99%.
On 3-year performance, UST leads with 0.46% vs -1.00% for TYA. On fees, TYA is cheaper at 0.15% per year. On volatility, UST has been the lower-risk option at 2.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, UST has performed better with a 0.46% return vs -1.00%. 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 0.95% for UST.
TYA has the higher dividend yield at 3.74%, compared with 3.63% for UST.
TYA is categorized as Government Bonds, while UST is Leveraged Bonds. They also come from different issuers: Simplify and ProShares. Their fees differ too: 0.15% for TYA and 0.95% for UST.
UST currently has the higher Sharpe Ratio (-0.30 vs -0.51), 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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