XLVI vs. BUCK

Last updated Aug 2, 2026

XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) and BUCK (Simplify Treasury Option Income ETF) are both exchange-traded funds - XLVI is a Derivative Income fund actively managed by State Street, while BUCK is a Government Bonds fund actively managed by Simplify. Both are actively managed. Over the past year, XLVI returned 23.20% vs 5.36% for BUCK. Their 0.12 correlation means their historical movements had little consistent relationship. Both charge a 0.35% expense ratio.

Performance

XLVI vs. BUCK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Health Care Select Sector SPDR Premium Income ETF (XLVI) and Simplify Treasury Option Income ETF (BUCK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLVI achieves a 7.10% return, which is significantly higher than BUCK's 2.42% return.

XLVI

• 1D: -0.18%
• 1M: 1.17%
• 6M: 6.83%
• YTD: 7.10%
• 1Y: 23.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.35%

BUCK

• 1D: -0.04%
• 1M: 0.17%
• 6M: 1.84%
• YTD: 2.42%
• 1Y: 5.36%
• 3Y*: 5.15%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.06%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BUCK Simplify Treasury Option Income ETF	$3.71M	$3.63M	$3.94M
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	$951.77K	$684.72K	$477.94K

XLVI vs. BUCK - Yearly Performance Comparison

	2026 (YTD)	2025
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	7.10%	12.41%
BUCK Simplify Treasury Option Income ETF	2.42%	3.43%

Correlation

The correlation between XLVI and BUCK is 0.11, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.11
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.12

Return for Risk

XLVI vs. BUCK — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XLVI

XLVI Risk / Return Rank: 84
XLVI Sharpe Ratio Rank: 90
XLVI Sortino Ratio Rank: 92
XLVI Omega Ratio Rank: 90
XLVI Calmar Ratio Rank: 81
XLVI Martin Ratio Rank: 68

BUCK

BUCK Risk / Return Rank: 95
BUCK Sharpe Ratio Rank: 92
BUCK Sortino Ratio Rank: 93
BUCK Omega Ratio Rank: 94
BUCK Calmar Ratio Rank: 97
BUCK Martin Ratio Rank: 97

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XLVI vs. BUCK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Health Care Select Sector SPDR Premium Income ETF (XLVI) and Simplify Treasury Option Income ETF (BUCK). 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.

	XLVI	BUCK	Difference
Sharpe ratio: Return per unit of total volatility	2.25	2.41	-0.16
Sortino ratio: Return per unit of downside risk	3.37	3.58	-0.21
Omega ratio: Gain probability vs. loss probability	1.42	1.52	-0.10
Calmar ratio: Return relative to maximum drawdown	2.96	7.39	-4.43
Martin ratio: Return relative to average drawdown	8.37	34.83	-26.45

XLVI vs. BUCK - Sharpe Ratio Comparison

The current XLVI Sharpe Ratio is 2.25, which is comparable to the BUCK Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of XLVI and BUCK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

XLVI vs. BUCK - Drawdown Comparison

The maximum XLVI drawdown since its inception was -8.14%, which is greater than BUCK's maximum drawdown of -5.43%. Use the drawdown chart below to compare losses from any high point for XLVI and BUCK.

Drawdown Indicators

	XLVI	BUCK	Difference
Max Drawdown Largest peak-to-trough decline	-8.14%	-5.43%	-2.71%
Max Drawdown (1Y) Largest decline over 1 year	-8.14%	-0.84%	-7.30%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.43%	—
Current Drawdown Current decline from peak	-1.46%	-0.11%	-1.35%
Average Drawdown Average peak-to-trough decline	-1.78%	-0.47%	-1.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	0.18%	+2.69%

Volatility

XLVI vs. BUCK - Volatility Comparison

State Street Health Care Select Sector SPDR Premium Income ETF (XLVI) has a higher volatility of 3.38% compared to Simplify Treasury Option Income ETF (BUCK) at 0.39%. This indicates that XLVI's price experiences larger fluctuations and is considered to be riskier than BUCK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLVI	BUCK	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	0.39%	+2.99%
Volatility (6M) Calculated over the trailing 6-month period	8.73%	1.24%	+7.49%
Volatility (1Y) Calculated over the trailing 1-year period	11.07%	2.59%	+8.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.05%	3.42%	+7.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.05%	3.42%	+7.63%

XLVI vs. BUCK - Expense Ratio Comparison

Both XLVI and BUCK have an expense ratio of 0.35%.

Dividends

XLVI vs. BUCK - Dividend Comparison

XLVI's dividend yield for the trailing twelve months is around 11.80%, more than BUCK's 7.20% yield.

Position	TTM	2025	2024	2023	2022
BUCK Simplify Treasury Option Income ETF	7.20%	7.59%	8.84%	4.84%	0.59%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	11.80%	5.73%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XLVI and BUCK in my portfolio?

XLVI and BUCK have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLVI or BUCK?

XLVI has higher volatility (3.38%) compared to BUCK (0.39%). In terms of maximum drawdown, XLVI dropped -8.14% vs BUCK's -5.43%.

Which ETF is better, XLVI or BUCK?

On 1-year performance, XLVI leads with 23.20% vs 5.36% for BUCK. Both ETFs have the same 0.35% expense ratio. On volatility, BUCK has been the lower-risk option at 0.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XLVI or BUCK?

Over the 1-year period, XLVI has performed better with a 23.20% return vs 5.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLVI or BUCK?

XLVI and BUCK have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, XLVI or BUCK?

XLVI has the higher dividend yield at 11.80%, compared with 7.20% for BUCK.

What is the main difference between XLVI and BUCK?

XLVI is categorized as Derivative Income, while BUCK is Government Bonds. They also come from different issuers: State Street and Simplify.

Which has better risk-adjusted returns?

BUCK currently has the higher Sharpe Ratio (2.41 vs 2.25), 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.