Simplify Short Term Treasury Futures Strategy… (TUA) Performance
TUA total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −8.9% since Dec 31, 2025
- 1 year
- −9.1% total return
- 3 years
- +0.4% a year
- Since first price
- −2.2% a year since 2022
TUA trailing returns vs SPY, QQQ, AGG
| Period | TUA total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +2.4% | +2.4% | −1.0% | −5.0% | +0.9% |
| 3 months | −1.8% | −2.7% | +3.2% | +1.9% | −0.4% |
| 6 months | −5.7% | −7.3% | +7.8% | +8.4% | −1.5% |
| YTD | −8.9% | −10.8% | +12.3% | +15.1% | −1.0% |
| 1 year | −9.1% | −11.8% | +14.4% | +15.9% | −1.1% |
| 3 years | +1.2%+0.4%/yr | −10.7% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionNov 15, 2022 | −8.5%−2.2%/yr | −21.9% | — | — | — |
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: TUA vs SPY
From Nov 15, 2022: TUA grew to $9,155, SPY to $20,087.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
TUA returns by calendar year
1 of 3 full years positive. Best 2025 (+7.3%), worst 2024 (−3.6%). 2026 is year to date.
TUA annual returns table
| Year | TUA | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −8.9% | −12.3% | +12.3% | +15.1% | −1.0% |
| 2025 | +7.3% | −4.4% | +17.7% | +20.8% | +7.2% |
| 2024 | −3.6% | −9.1% | +24.9% | +25.6% | +1.3% |
| 2023 | −2.0% | −15.8% | +26.2% | +54.9% | +5.7% |
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.
TUA largest drawdowns
Now 13.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Mar 24, 2023 | −15.9% | Sep 28, 2026 | not yet | 3.5 years | 3.6 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
TUA risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | −0.4% | −2.9% |
| Volatility (annualized) | 8.4% | 9.7% |
| Sharpe ratio | -0.53 | -0.72 |
| Sortino ratio | -0.64 | -0.86 |
| Best month | +4.2% | +7.5% |
| Worst month | −5.1% | −5.8% |
| Best 12 months | +12.8% | +12.8% |
| Worst 12 months | −10.3% | −13.2% |
| Positive months | 47% | 43% |
| Beta vs S&P 500 | 0.16 | — |
| Correlation with S&P 500 | 0.23 | — |
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.
TUA rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 36 | −13.2% | −0.5% | +12.8% | 47% |
| 3-year (a year) | 12 | −2.0% | +0.3% | +2.0% | 58% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
TUA performance overview
Simplify Short Term Treasury Futures Strategy… (TUA) returned −9.1% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned −2.2% a year, turning $10,000 into about $9,155. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −15.9%, from Mar 24, 2023 to Sep 28, 2026; the fund has not yet regained that high. TUA finished 1 of its 3 full calendar years with a gain; the best year was 2025 (+7.3%) and the worst 2024 (−3.6%). Volatility has been 9.7% a year.
Related: TUA chart, TUA dividends. See the TUA overview for the latest quote and fund facts.
TUA performance FAQ
What is the TUA return over the past year?
TUA returned −9.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 11.8%.
How much would $10,000 invested in TUA be worth?
$10,000 invested in TUA at its first recorded close on November 15, 2022 would be worth about $9,155 on October 23, 2026 with distributions reinvested.
What was the worst year for TUA?
The worst calendar year was 2024, with a total return of −3.6%. The best was 2025 at +7.3%.
What is the biggest drawdown of TUA?
The largest peak-to-trough decline was −15.9% between March 24, 2023 and September 28, 2026. It has not yet recovered to that high; it is 13.4% below its peak.
How volatile is TUA?
Over the past 3 years TUA had an annualized volatility of 8.4% and a Sharpe ratio of -0.53 (excess return over 1–3 month T-bills per unit of risk).