BBB vs. CTAP

Last updated Jun 3, 2026

BBB (CYBER HORNET S&P 500 and Bitcoin 75/25 Strategy ETF) and CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) are both Diversified Portfolio funds. BBB is passively managed, while CTAP is actively managed. At a 0.19 correlation, their price movements are largely independent. BBB charges 0.98%/yr vs 0.10%/yr for CTAP.

Performance

BBB vs. CTAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CYBER HORNET S&P 500 and Bitcoin 75/25 Strategy ETF (BBB) and Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBB achieves a 2.06% return, which is significantly lower than CTAP's 21.95% return.

BBB

• 1D: -1.22%
• 1M: 0.35%
• YTD: 2.06%
• 6M: 1.31%
• 1Y: 9.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CTAP

• 1D: -0.32%
• 1M: -3.24%
• YTD: 21.95%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BBB vs. CTAP - Yearly Performance Comparison

	2026 (YTD)	2025
BBB CYBER HORNET S&P 500 and Bitcoin 75/25 Strategy ETF	2.06%	-1.40%
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	21.95%	2.44%

Correlation

The correlation between BBB and CTAP is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025	0.19

Return for Risk

BBB vs. CTAP — Risk / Return Rank

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

BBB

BBB Risk / Return Rank: 16
BBB Sharpe Ratio Rank: 17
BBB Sortino Ratio Rank: 16
BBB Omega Ratio Rank: 16
BBB Calmar Ratio Rank: 15
BBB Martin Ratio Rank: 15

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.

BBB vs. CTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CYBER HORNET S&P 500 and Bitcoin 75/25 Strategy ETF (BBB) and Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP). 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.

	BBB	CTAP	Difference
Sharpe ratio Return per unit of total volatility	0.52	—	—
Sortino ratio Return per unit of downside risk	0.83	—	—
Omega ratio Gain probability vs. loss probability	1.10	—	—
Calmar ratio Return relative to maximum drawdown	0.54	—	—
Martin ratio Return relative to average drawdown	1.37	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BBB	CTAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	2.50	-1.59

Drawdowns

BBB vs. CTAP - Drawdown Comparison

The maximum BBB drawdown since its inception was -21.98%, which is greater than CTAP's maximum drawdown of -9.02%. Use the drawdown chart below to compare losses from any high point for BBB and CTAP.

Drawdown Indicators

	BBB	CTAP	Difference
Max Drawdown Largest peak-to-trough decline	-21.98%	-9.02%	-12.96%
Max Drawdown (1Y) Largest decline over 1 year	-17.74%	—	—
Current Drawdown Current decline from peak	-5.17%	-4.47%	-0.70%
Average Drawdown Average peak-to-trough decline	-4.39%	-2.18%	-2.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.93%	—	—

Volatility

Volatility by Period

	BBB	CTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.22%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.51%	23.94%	-6.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.03%	23.94%	-1.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.03%	23.94%	-1.91%

BBB vs. CTAP - Expense Ratio Comparison

BBB has a 0.98% expense ratio, which is higher than CTAP's 0.10% expense ratio.

Dividends

BBB vs. CTAP - Dividend Comparison

BBB's dividend yield for the trailing twelve months is around 0.21%, less than CTAP's 0.65% yield.

Position	TTM	2025	2024
BBB CYBER HORNET S&P 500 and Bitcoin 75/25 Strategy ETF	0.21%	0.21%	6.74%
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	0.65%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BBB and CTAP in my portfolio?

BBB and CTAP have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BBB or CTAP?

On fees, CTAP is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BBB or CTAP?

CTAP is cheaper with a 0.10% expense ratio, compared with 0.98% for BBB.

Which ETF pays a higher dividend yield, BBB or CTAP?

CTAP has the higher dividend yield at 0.65%, compared with 0.21% for BBB.

What is the main difference between BBB and CTAP?

They also come from different issuers: CYBER HORNET and Simplify. Their fees differ too: 0.98% for BBB and 0.10% for CTAP.