XV vs. MTBA

Last updated Jun 4, 2026

XV (Simplify Target 15 Distribution ETF) and MTBA (Simplify MBS ETF) are both exchange-traded funds - XV is a Derivative Income fund actively managed by Simplify, while MTBA is a Mortgage Backed Securities fund actively managed by Simplify. Both are actively managed. Over the past year, XV returned 13.08% vs 5.18% for MTBA. At a 0.17 correlation, their price movements are largely independent. XV charges 0.75%/yr vs 0.15%/yr for MTBA.

Performance

XV vs. MTBA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Target 15 Distribution ETF (XV) and Simplify MBS ETF (MTBA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XV achieves a 3.17% return, which is significantly higher than MTBA's -0.23% return.

XV

• 1D: -0.40%
• 1M: 1.21%
• YTD: 3.17%
• 6M: 2.76%
• 1Y: 13.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MTBA

• 1D: -0.12%
• 1M: 0.21%
• YTD: -0.23%
• 6M: 0.18%
• 1Y: 5.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XV vs. MTBA - Yearly Performance Comparison

	2026 (YTD)	2025
XV Simplify Target 15 Distribution ETF	3.17%	16.13%
MTBA Simplify MBS ETF	-0.23%	5.78%

Correlation

The correlation between XV and MTBA is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (All Time) Calculated using the full available price history since Apr 16, 2025	0.17

XV vs. MTBA - Sectors Allocation Comparison

Sectors	XV	MTBA
Financial Services	78.4%	47.2%
Technology	33.1%	-
Communication Services	10.7%	-
Consumer Cyclical	10.1%	-
Healthcare	9.8%	-
Industrials	8.7%	-
Consumer Defensive	5.4%	-
Energy	3.5%	-
Utilities	2.5%	-
Real Estate	2.0%	-
Basic Materials	1.9%	-

Return for Risk

XV vs. MTBA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XV

XV Risk / Return Rank: 44
XV Sharpe Ratio Rank: 40
XV Sortino Ratio Rank: 41
XV Omega Ratio Rank: 39
XV Calmar Ratio Rank: 46
XV Martin Ratio Rank: 52

MTBA

MTBA Risk / Return Rank: 45
MTBA Sharpe Ratio Rank: 48
MTBA Sortino Ratio Rank: 48
MTBA Omega Ratio Rank: 51
MTBA Calmar Ratio Rank: 37
MTBA Martin Ratio Rank: 39

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XV vs. MTBA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Target 15 Distribution ETF (XV) and Simplify MBS ETF (MTBA). 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.

	XV	MTBA	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.68	-0.26
Sortino ratio: Return per unit of downside risk	2.09	2.38	-0.29
Omega ratio: Gain probability vs. loss probability	1.25	1.32	-0.07
Calmar ratio: Return relative to maximum drawdown	2.29	1.84	+0.45
Martin ratio: Return relative to average drawdown	8.72	6.28	+2.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XV vs. MTBA - Sharpe Ratio Comparison

The current XV Sharpe Ratio is 1.42, which is comparable to the MTBA Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of XV and MTBA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XV	MTBA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	1.68	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	1.62	1.30	+0.32

Drawdowns

XV vs. MTBA - Drawdown Comparison

The maximum XV drawdown since its inception was -5.73%, which is greater than MTBA's maximum drawdown of -3.48%. Use the drawdown chart below to compare losses from any high point for XV and MTBA.

Drawdown Indicators

	XV	MTBA	Difference
Max Drawdown Largest peak-to-trough decline	-5.73%	-3.48%	-2.25%
Max Drawdown (1Y) Largest decline over 1 year	-5.73%	-2.82%	-2.91%
Current Drawdown Current decline from peak	-0.42%	-1.60%	+1.18%
Average Drawdown Average peak-to-trough decline	-0.98%	-0.79%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.50%	0.83%	+0.67%

Volatility

XV vs. MTBA - Volatility Comparison

Simplify Target 15 Distribution ETF (XV) has a higher volatility of 2.09% compared to Simplify MBS ETF (MTBA) at 1.33%. This indicates that XV's price experiences larger fluctuations and is considered to be riskier than MTBA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XV	MTBA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.09%	1.33%	+0.76%
Volatility (6M) Calculated over the trailing 6-month period	5.97%	2.47%	+3.50%
Volatility (1Y) Calculated over the trailing 1-year period	9.31%	3.10%	+6.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.77%	3.95%	+6.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.77%	3.95%	+6.82%

XV vs. MTBA - Expense Ratio Comparison

XV has a 0.75% expense ratio, which is higher than MTBA's 0.15% expense ratio.

Dividends

XV vs. MTBA - Dividend Comparison

XV's dividend yield for the trailing twelve months is around 19.22%, more than MTBA's 6.09% yield.

Position	TTM	2025	2024	2023
MTBA Simplify MBS ETF	6.09%	5.98%	6.03%	0.48%
XV Simplify Target 15 Distribution ETF	19.22%	13.87%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XV and MTBA in my portfolio?

XV and MTBA have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XV or MTBA?

XV has higher volatility (2.09%) compared to MTBA (1.33%). In terms of maximum drawdown, XV dropped -5.73% vs MTBA's -3.48%.

Which ETF is better, XV or MTBA?

On 1-year performance, XV leads with 13.08% vs 5.18% for MTBA. On fees, MTBA is cheaper at 0.15% per year. On volatility, MTBA has been the lower-risk option at 1.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XV or MTBA?

Over the 1-year period, XV has performed better with a 13.08% return vs 5.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XV or MTBA?

MTBA is cheaper with a 0.15% expense ratio, compared with 0.75% for XV.

Which ETF pays a higher dividend yield, XV or MTBA?

XV has the higher dividend yield at 19.22%, compared with 6.09% for MTBA.

What is the main difference between XV and MTBA?

XV is categorized as Derivative Income, while MTBA is Mortgage Backed Securities. Their fees differ too: 0.75% for XV and 0.15% for MTBA.

Which has better risk-adjusted returns?

MTBA currently has the higher Sharpe Ratio (1.68 vs 1.42), 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.