CDX vs. CTA
CDX (Simplify High Yield ETF) and CTA (Simplify Managed Futures Strategy ETF) are both exchange-traded funds - CDX is a High Yield Bonds fund actively managed by Simplify, while CTA is a Systematic Trend fund actively managed by Simplify. Both are actively managed. Over the past 3 years, CDX returned 7.17%/yr vs 8.35%/yr for CTA. Their -0.19 correlation means they have often moved in opposite directions in the past. CDX charges 0.25%/yr vs 0.78%/yr for CTA.
Performance
CDX vs. CTA - Performance Comparison
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Returns By Period
In the year-to-date period, CDX achieves a -3.00% return, which is significantly lower than CTA's 2.94% return.
CDX
- 1D
- 0.10%
- 1M
- -0.57%
- 6M
- -3.06%
- YTD
- -3.00%
- 1Y
- -3.26%
- 3Y*
- 7.17%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.85%
CTA
- 1D
- 0.41%
- 1M
- 6.16%
- 6M
- -0.31%
- YTD
- 2.94%
- 1Y
- 7.76%
- 3Y*
- 8.35%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.49%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.23M | $2.17M | $2.98M | |
| $11.61M | $12.21M | $14.75M |
CDX vs. CTA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CDX Simplify High Yield ETF | -3.00% | 9.51% | 7.71% | 12.74% | -8.28% |
CTA Simplify Managed Futures Strategy ETF | 2.94% | 0.88% | 24.15% | -2.23% | 9.01% |
Correlation
The correlation between CDX and CTA is -0.17, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.17 |
Correlation (3Y) Balances recent behavior with more history. | -0.17 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2022 | -0.19 |
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Return for Risk
CDX vs. CTA — Risk / Return Rank
CDX
CTA
CDX vs. CTA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify High Yield ETF (CDX) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CDX | CTA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.05 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.60 | 0.20 | -0.80 |
| Martin ratioReturn relative to average drawdown | -1.44 | 0.53 | -1.97 |
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Drawdowns
CDX vs. CTA - Drawdown Comparison
The maximum CDX drawdown since its inception was -13.24%, smaller than the maximum CTA drawdown of -20.44%. Use the drawdown chart below to compare losses from any high point for CDX and CTA.
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Drawdown Indicators
| CDX | CTA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.24% | -20.44% | +7.20% |
Max Drawdown (1Y)Largest decline over 1 year | -5.37% | -20.44% | +15.07% |
Max Drawdown (3Y)Largest decline over 3 years | -8.97% | -20.44% | +11.47% |
Current DrawdownCurrent decline from peak | -7.94% | -15.54% | +7.60% |
Average DrawdownAverage peak-to-trough decline | -4.44% | -6.06% | +1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.24% | 7.61% | -5.37% |
Volatility
CDX vs. CTA - Volatility Comparison
The current volatility for Simplify High Yield ETF (CDX) is 2.02%, while Simplify Managed Futures Strategy ETF (CTA) has a volatility of 8.38%. This indicates that CDX 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.
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Volatility by Period
| CDX | CTA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.02% | 8.38% | -6.36% |
Volatility (6M)Calculated over the trailing 6-month period | 5.16% | 19.10% | -13.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.98% | 21.74% | -15.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.97% | 16.92% | -5.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.97% | 16.92% | -5.95% |
CDX vs. CTA - Expense Ratio Comparison
CDX has a 0.25% expense ratio, which is lower than CTA's 0.78% expense ratio.
Dividends
CDX vs. CTA - Dividend Comparison
CDX's dividend yield for the trailing twelve months is around 8.33%, more than CTA's 5.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CDX Simplify High Yield ETF | 8.33% | 7.18% | 12.60% | 5.26% | 7.51% |
CTA Simplify Managed Futures Strategy ETF | 5.38% | 3.19% | 4.80% | 7.78% | 6.58% |
Frequently Asked Questions
CDX and CTA have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CTA has higher volatility (8.38%) compared to CDX (2.02%). In terms of maximum drawdown, CDX dropped -13.24% vs CTA's -20.44%.
On 3-year performance, CTA leads with 8.35% vs 7.17% for CDX. On fees, CDX is cheaper at 0.25% per year. On volatility, CDX has been the lower-risk option at 2.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CTA has performed better with a 8.35% return vs 7.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CDX is cheaper with a 0.25% expense ratio, compared with 0.78% for CTA.
CDX has the higher dividend yield at 8.33%, compared with 5.38% for CTA.
CDX is categorized as High Yield Bonds, while CTA is Systematic Trend. Their fees differ too: 0.25% for CDX and 0.78% for CTA.
CTA currently has the higher Sharpe Ratio (0.19 vs -0.54), 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.
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