TUA vs MSSM

Comparison between SIMPLIFY SHORT TERM TREASURY FUTURES STRATEGY ETF (TUA, ETF) and MORGAN STANLEY PATHWAY SMALL-MID CAP EQUITY ETF (MSSM, ETF).

TUA vs MSSM - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	TUA(ETF)	MSSM(ETF)
Net Assets	$757M	$756M
Expense Ratio	0.25%	0.62%
Max Drawdown	22.37%	24.18%
Sharpe Ratio	-0.79	1.59
5Y Beta	-0.08	1.05
P/E Ratio	N/A	79.97
Forward P/E	N/A	14.81
5Y EPS CAGR	N/A	14.18%
Debt to Equity	N/A	57.40%
P/S Ratio	N/A	1.27
P/B Ratio	N/A	2.39

Net Assets

Winner

TUA

$757M

MSSM

$756M

Expense Ratio

Winner

TUA

0.25%

MSSM

0.62%

Max Drawdown

Winner

TUA

22.37%

MSSM

24.18%

Sharpe Ratio

TUA

-0.79

Winner

MSSM

1.59

5Y Beta

Winner

TUA

-0.08

MSSM

1.05

P/E Ratio

TUA

N/A

MSSM

79.97

Forward P/E

TUA

N/A

MSSM

14.81

5Y EPS CAGR

TUA

N/A

MSSM

14.18%

Debt to Equity

TUA

N/A

MSSM

57.40%

P/S Ratio

TUA

N/A

MSSM

1.27

P/B Ratio

TUA

N/A

MSSM

2.39

TUA vs MSSM - Historical Returns

Returns include dividend reinvestment.

Period	TUA	MSSM
1 month	-0.44%	+3.89%
3 months	-2.68%	+17.47%
6 months	-4.70%	+17.15%
1 year	-2.23%	+35.68%
Max(CAGR)	-1.36%	+15.77%

TUA

-0.44%

Winner

MSSM

+3.89%

TUA

-2.68%

Winner

MSSM

+17.47%

TUA

-4.70%

Winner

MSSM

+17.15%

TUA

-2.23%

Winner

MSSM

+35.68%

Max(CAGR)

TUA

-1.36%

Winner

MSSM

+15.77%

TUA vs MSSM - Annual Returns (2022 - 2026)

Returns include dividend reinvestment.

Year	TUA	MSSM
2026	-5.22%	+17.36%
2025	+7.17%	+11.21%
2024	-2.92%	-5.83%
2023	-2.33%	N/A
2022	-0.81%	N/A

TUA vs MSSM Drawdown Comparison

The maximum drawdown for TUA was -15.84%, occurring on Oct 17, 2023. This drawdown has not yet recovered.

The maximum drawdown for MSSM was -24.18%, occurring on Apr 8, 2025. Recovery took 175 trading sessions.

The current TUA drawdown is -9.92%.

Rank	TUA	MSSM
#1	-15.84% Mar 24, 2023 - Oct 17, 2023	-24.18% Dec 9, 2024 - Aug 22, 2025
#2	-9.27% Jan 18, 2023 - Mar 13, 2023	-9.50% Feb 10, 2026 - Apr 14, 2026
#3	-2.81% Mar 17, 2023 - Mar 23, 2023	-7.11% Oct 27, 2025 - Dec 4, 2025
#4	-2.63% Dec 16, 2022 - Jan 12, 2023	-4.35% May 6, 2026 - May 26, 2026
#5	-2.47% Mar 15, 2023 - Mar 17, 2023	-3.84% Oct 6, 2025 - Oct 24, 2025
#6	-2.15% Mar 13, 2023 - Mar 15, 2023	-3.71% Dec 11, 2025 - Jan 6, 2026
#7	-1.50% Nov 16, 2022 - Dec 1, 2022	-3.26% Jan 22, 2026 - Feb 9, 2026
#8	-1.48% Dec 1, 2022 - Dec 13, 2022	-3.16% Jun 4, 2026 - Jun 12, 2026
#9	-0.80% Jan 12, 2023 - Jan 18, 2023	-2.47% Sep 18, 2025 - Oct 3, 2025
#10	-0.20% Dec 14, 2022 - Dec 16, 2022	-2.28% Apr 20, 2026 - Apr 30, 2026
#11	N/A	-1.63% Jan 15, 2026 - Jan 21, 2026
#12	N/A	-1.52% Aug 28, 2025 - Sep 5, 2025
#13	N/A	-1.04% Sep 11, 2025 - Sep 18, 2025
#14	N/A	-0.79% Jun 2, 2026 - Jun 4, 2026
#15	N/A	-0.78% May 28, 2026 - Jun 2, 2026