CBLS vs. CTA

Last updated Jun 3, 2026

CBLS (Changebridge Capital Long/Short Equity ETF) and CTA (Simplify Managed Futures Strategy ETF) are both exchange-traded funds - CBLS is a Long-Short fund actively managed by Changebridge Capital LLC, while CTA is a Systematic Trend fund actively managed by Simplify. Both are actively managed. Over the past 3 years, CBLS returned 19.86%/yr vs 11.59%/yr for CTA. At a correlation of -0.07, they often move in opposite directions. CBLS charges 1.95%/yr vs 0.78%/yr for CTA.

Performance

CBLS vs. CTA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Changebridge Capital Long/Short Equity ETF (CBLS) and Simplify Managed Futures Strategy ETF (CTA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CBLS achieves a 24.17% return, which is significantly higher than CTA's 11.70% return.

CBLS

• 1D: 3.27%
• 1M: 9.60%
• YTD: 24.17%
• 6M: 23.40%
• 1Y: 20.95%
• 3Y*: 19.86%
• 5Y*: 5.73%
• 10Y*: —

CTA

• 1D: 0.54%
• 1M: -6.72%
• YTD: 11.70%
• 6M: 12.40%
• 1Y: 15.29%
• 3Y*: 11.59%
• 5Y*: —
• 10Y*: —

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

CBLS vs. CTA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CBLS Changebridge Capital Long/Short Equity ETF	24.17%	5.87%	28.74%	-2.67%	-3.68%
CTA Simplify Managed Futures Strategy ETF	11.70%	0.88%	24.15%	-2.23%	9.55%

Correlation

The correlation between CBLS and CTA is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	-0.04
Correlation (All Time) Calculated using the full available price history since Mar 9, 2022	-0.07

CBLS vs. CTA - Sectors Allocation Comparison

Sectors	CBLS	CTA
Technology	32.3%	-
Energy	10.0%	-
Healthcare	9.2%	-
Utilities	7.5%	-
Basic Materials	7.5%	-
Industrials	3.8%	-
Consumer Cyclical	0.4%	-
Communication Services	-2.0%	-
Real Estate	-2.4%	-
Consumer Defensive	-3.8%	-
Financial Services	-6.8%	-49.1%

Return for Risk

CBLS vs. CTA — Risk / Return Rank

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

CBLS

CBLS Risk / Return Rank: 42
CBLS Sharpe Ratio Rank: 38
CBLS Sortino Ratio Rank: 37
CBLS Omega Ratio Rank: 38
CBLS Calmar Ratio Rank: 54
CBLS Martin Ratio Rank: 41

CTA

CTA Risk / Return Rank: 24
CTA Sharpe Ratio Rank: 22
CTA Sortino Ratio Rank: 21
CTA Omega Ratio Rank: 23
CTA Calmar Ratio Rank: 29
CTA Martin Ratio Rank: 26

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.

CBLS vs. CTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Changebridge Capital Long/Short Equity ETF (CBLS) and Simplify Managed Futures Strategy ETF (CTA). 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.

	CBLS	CTA	Difference
Sharpe ratio Return per unit of total volatility	1.38	0.76	+0.62
Sortino ratio Return per unit of downside risk	1.94	1.10	+0.84
Omega ratio Gain probability vs. loss probability	1.25	1.15	+0.10
Calmar ratio Return relative to maximum drawdown	2.71	1.40	+1.30
Martin ratio Return relative to average drawdown	6.61	3.71	+2.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CBLS vs. CTA - Sharpe Ratio Comparison

The current CBLS Sharpe Ratio is 1.38, which is higher than the CTA Sharpe Ratio of 0.76. The chart below compares the historical Sharpe Ratios of CBLS and CTA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CBLS	CTA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	0.76	+0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.61	+0.02

Drawdowns

CBLS vs. CTA - Drawdown Comparison

The maximum CBLS drawdown since its inception was -32.78%, which is greater than CTA's maximum drawdown of -18.07%. Use the drawdown chart below to compare losses from any high point for CBLS and CTA.

Drawdown Indicators

	CBLS	CTA	Difference
Max Drawdown Largest peak-to-trough decline	-32.78%	-18.07%	-14.71%
Max Drawdown (1Y) Largest decline over 1 year	-8.15%	-11.00%	+2.85%
Max Drawdown (3Y) Largest decline over 3 years	-15.27%	-11.23%	-4.04%
Max Drawdown (5Y) Largest decline over 5 years	-31.24%	—	—
Current Drawdown Current decline from peak	0.00%	-8.35%	+8.35%
Average Drawdown Average peak-to-trough decline	-12.80%	-5.67%	-7.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	4.16%	-0.82%

Volatility

CBLS vs. CTA - Volatility Comparison

The current volatility for Changebridge Capital Long/Short Equity ETF (CBLS) is 7.08%, while Simplify Managed Futures Strategy ETF (CTA) has a volatility of 8.01%. This indicates that CBLS experiences smaller price fluctuations and is considered to be less risky than CTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CBLS	CTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.08%	8.01%	-0.93%
Volatility (6M) Calculated over the trailing 6-month period	12.62%	17.30%	-4.68%
Volatility (1Y) Calculated over the trailing 1-year period	15.29%	20.12%	-4.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.64%	16.59%	-0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.13%	16.59%	-0.46%

CBLS vs. CTA - Expense Ratio Comparison

CBLS has a 1.95% expense ratio, which is higher than CTA's 0.78% expense ratio.

Dividends

CBLS vs. CTA - Dividend Comparison

CBLS's dividend yield for the trailing twelve months is around 0.72%, less than CTA's 4.88% yield.

Position	TTM	2025	2024	2023	2022
CBLS Changebridge Capital Long/Short Equity ETF	0.72%	0.90%	0.73%	0.44%	0.00%
CTA Simplify Managed Futures Strategy ETF	4.88%	3.19%	4.80%	7.78%	6.58%

Frequently Asked Questions

Can I hold both CBLS and CTA in my portfolio?

CBLS and CTA have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CBLS or CTA?

CTA has higher volatility (8.01%) compared to CBLS (7.08%). In terms of maximum drawdown, CBLS dropped -32.78% vs CTA's -18.07%.

Which ETF is better, CBLS or CTA?

On 3-year performance, CBLS leads with 19.86% vs 11.59% for CTA. On fees, CTA is cheaper at 0.78% per year. On volatility, CBLS has been the lower-risk option at 7.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CBLS or CTA?

Over the 3-year period, CBLS has performed better with a 19.86% return vs 11.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CBLS or CTA?

CTA is cheaper with a 0.78% expense ratio, compared with 1.95% for CBLS.

Which ETF pays a higher dividend yield, CBLS or CTA?

CTA has the higher dividend yield at 4.88%, compared with 0.72% for CBLS.

What is the main difference between CBLS and CTA?

CBLS is categorized as Long-Short, while CTA is Systematic Trend. They also come from different issuers: Changebridge Capital LLC and Simplify. Their fees differ too: 1.95% for CBLS and 0.78% for CTA.

Which has better risk-adjusted returns?

CBLS currently has the higher Sharpe Ratio (1.38 vs 0.76), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.