Simplify US Equity PLUS Upside Convexity ETF (SPUC) Performance
SPUC total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +10.9% since Dec 31, 2025
- 1 year
- +11.0% total return
- 5 years
- +12.0% a year
- Since first price
- +15.4% a year since 2020
SPUC trailing returns vs SPY, QQQ, AGG
| Period | SPUC total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.3% | −2.5% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.8% | −0.7% | +3.2% | +1.9% | −0.4% |
| 6 months | +7.8% | +1.1% | +7.8% | +8.4% | −1.5% |
| YTD | +10.9% | +3.8% | +12.3% | +15.1% | −1.0% |
| 1 year | +11.0% | −3.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +98.1%+25.6%/yr | +69.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +76.0%+12.0%/yr | +44.5% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionSep 4, 2020 | +140.5%+15.4%/yr | +94.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: SPUC vs SPY
From Sep 4, 2020: SPUC grew to $24,054, SPY to $24,150.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
SPUC returns by calendar year
4 of 5 full years positive. Best 2021 (+33.8%), worst 2022 (−24.8%). 2026 is year to date.
SPUC annual returns table
| Year | SPUC | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +10.9% | −10.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +23.0% | −26.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +25.4% | −14.6% | +24.9% | +25.6% | +1.3% |
| 2023 | +27.5% | −12.3% | +26.2% | +54.9% | +5.7% |
| 2022 | −24.8% | −28.9% | −18.2% | −32.6% | −13.0% |
| 2021 | +33.8% | −6.9% | +28.7% | +27.4% | −1.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
SPUC largest drawdowns
Now 2.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 27, 2021 | −29.2% | Oct 12, 2022 | Feb 2, 2024 | 9 months | 2.1 years |
| Dec 4, 2024 | −28.2% | Apr 21, 2025 | Jul 3, 2025 | 5 months | 7 months |
| Jul 16, 2024 | −14.6% | Aug 7, 2024 | Nov 7, 2024 | 22 days | 4 months |
| Oct 29, 2025 | −11.3% | Mar 30, 2026 | Apr 30, 2026 | 5 months | 6 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
SPUC risk statistics
| Statistic | 3 years | 5 years | Since 2020 |
|---|---|---|---|
| Annualized return | +24.9% | +13.5% | +16.2% |
| Volatility (annualized) | 18.2% | 20.0% | 19.4% |
| Sharpe ratio | 1.09 | 0.56 | 0.72 |
| Sortino ratio | 1.93 | 0.87 | 1.16 |
| Best month | +11.2% | +11.2% | +11.5% |
| Worst month | −9.1% | −10.3% | −10.3% |
| Best 12 months | +47.5% | +47.5% | +47.6% |
| Worst 12 months | −1.6% | −24.8% | −24.8% |
| Positive months | 64% | 60% | 61% |
| Beta vs S&P 500 | 1.37 | 1.23 | — |
| Correlation with S&P 500 | 0.94 | 0.96 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
SPUC rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 62 | −24.8% | +17.2% | +47.6% | 76% |
| 3-year (a year) | 38 | +6.3% | +12.7% | +27.3% | 100% |
| 5-year (a year) | 14 | +11.5% | +13.7% | +18.6% | 100% |
Every holding period starting at a month-end since 2020. Returns for 3 years and longer are annualized.
SPUC performance overview
Simplify US Equity PLUS Upside Convexity ETF (SPUC) returned +11.0% over the past year and +12.0% a year over five years, with distributions reinvested. Since its first recorded price in 2020 it has returned +15.4% a year, turning $10,000 into about $24,054. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −29.2%, from Dec 27, 2021 to Oct 12, 2022, and it took 1.3 years to get back to the old high. SPUC finished 4 of its 5 full calendar years with a gain; the best year was 2021 (+33.8%) and the worst 2022 (−24.8%). Volatility has been 19.4% a year.
Related: SPUC chart, SPUC dividends. See the SPUC overview for the latest quote and fund facts.
SPUC performance FAQ
What is the SPUC return over the past year?
SPUC returned +11.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 3.2%.
What is the average annual return of SPUC?
SPUC has returned +12.0% a year over 5 years, +15.4% a year since September 4, 2020 (total return, distributions reinvested).
How much would $10,000 invested in SPUC be worth?
$10,000 invested in SPUC at its first recorded close on September 4, 2020 would be worth about $24,054 on October 23, 2026 with distributions reinvested.
What was the worst year for SPUC?
The worst calendar year was 2022, with a total return of −24.8%. The best was 2021 at +33.8%.
What is the biggest drawdown of SPUC?
The largest peak-to-trough decline was −29.2% between December 27, 2021 and October 12, 2022. It recovered to the old high on February 2, 2024, 1.3 years after the bottom.
How volatile is SPUC?
Over the past 3 years SPUC had an annualized volatility of 18.2% and a Sharpe ratio of 1.09 (excess return over 1–3 month T-bills per unit of risk).