BMAX.TO vs. CTAP

Last updated Apr 1, 2026

Compare and contrast key facts about Brompton Enhanced Multi-Asset Income ETF (BMAX.TO) and Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP).

BMAX.TO and CTAP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BMAX.TO is managed by Brompton Funds. CTAP is an actively managed fund by Simplify. It was launched on Dec 8, 2025.

Performance

BMAX.TO vs. CTAP - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Brompton Enhanced Multi-Asset Income ETF (BMAX.TO) and Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP). The values are adjusted to include any dividend payments, if applicable.

BMAX.TO vs. CTAP - Yearly Performance Comparison

	2026 (YTD)	2025
BMAX.TO Brompton Enhanced Multi-Asset Income ETF	-2.51%	0.61%
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	6.78%	1.52%

Different Trading Currencies

BMAX.TO is traded in CAD, while CTAP is traded in USD. To make them comparable, the CTAP values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, BMAX.TO achieves a -2.51% return, which is significantly lower than CTAP's 6.78% return.

BMAX.TO

• 1D: 1.60%
• 1M: -6.63%
• YTD: -2.51%
• 6M: 0.67%
• 1Y: 13.77%
• 3Y*: 14.86%
• 5Y*: —
• 10Y*: —

CTAP

• 1D: 1.07%
• 1M: -3.54%
• YTD: 6.78%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BMAX.TO vs. CTAP - Expense Ratio Comparison

BMAX.TO has a 2.62% expense ratio, which is higher than CTAP's 0.10% expense ratio.

BMAX.TO

Brompton Enhanced Multi-Asset Income ETF

CTAP

Simplify US Equity PLUS Managed Futures Strategy ETF

Return for Risk

BMAX.TO vs. CTAP — Risk / Return Rank

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

BMAX.TO

BMAX.TO Risk / Return Rank: 51
BMAX.TO Sharpe Ratio Rank: 49
BMAX.TO Sortino Ratio Rank: 49
BMAX.TO Omega Ratio Rank: 56
BMAX.TO Calmar Ratio Rank: 48
BMAX.TO Martin Ratio Rank: 55

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.

BMAX.TO vs. CTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brompton Enhanced Multi-Asset Income ETF (BMAX.TO) 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.

	BMAX.TO	CTAP	Difference
Sharpe ratio Return per unit of total volatility	0.89	—	—
Sortino ratio Return per unit of downside risk	1.29	—	—
Omega ratio Gain probability vs. loss probability	1.21	—	—
Calmar ratio Return relative to maximum drawdown	1.24	—	—
Martin ratio Return relative to average drawdown	5.41	—	—
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

	BMAX.TO	CTAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.89	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.16	1.45	-0.30

Correlation

The correlation between BMAX.TO and CTAP is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BMAX.TO vs. CTAP - Dividend Comparison

BMAX.TO's dividend yield for the trailing twelve months is around 9.43%, more than CTAP's 0.75% yield.

	TTM	2025	2024	2023	2022
BMAX.TO Brompton Enhanced Multi-Asset Income ETF	9.43%	9.70%	9.64%	9.55%	2.41%
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	0.75%	0.00%	0.00%	0.00%	0.00%

Drawdowns

BMAX.TO vs. CTAP - Drawdown Comparison

The maximum BMAX.TO drawdown since its inception was -15.42%, which is greater than CTAP's maximum drawdown of -8.68%. Use the drawdown chart below to compare losses from any high point for BMAX.TO and CTAP.

Drawdown Indicators

	BMAX.TO	CTAP	Difference
Max Drawdown Largest peak-to-trough decline	-15.42%	-9.02%	-6.40%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	—	—
Current Drawdown Current decline from peak	-7.89%	-5.64%	-2.25%
Average Drawdown Average peak-to-trough decline	-1.92%	-2.15%	+0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	—	—

Volatility

Volatility by Period

	BMAX.TO	CTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.71%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.22%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.51%	21.25%	-5.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.14%	21.25%	-8.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.14%	21.25%	-8.11%