CEFD vs. CTAP
CEFD (ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN) and CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) are both Diversified Portfolio funds. CEFD is passively managed, while CTAP is actively managed. Their 0.27 correlation means their historical movements had little consistent relationship. CEFD charges 0.95%/yr vs 0.10%/yr for CTAP.
Performance
CEFD vs. CTAP - Performance Comparison
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Returns By Period
In the year-to-date period, CEFD achieves a 6.68% return, which is significantly lower than CTAP's 8.91% return.
CEFD
- 1D
- 0.65%
- 1M
- -1.19%
- 6M
- 3.84%
- YTD
- 6.68%
- 1Y
- 13.16%
- 3Y*
- 13.50%
- 5Y*
- 2.89%
- 10Y*
- —
- ALL TIME*
- 8.91%
CTAP
- 1D
- 1.11%
- 1M
- 4.75%
- 6M
- 4.96%
- YTD
- 8.91%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.81K | $22.66K | $19.94K | |
| $13.32M | $7.01M | $3.57M |
CEFD vs. CTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CEFD ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN | 6.68% | 0.87% |
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 8.91% | 2.22% |
Correlation
The correlation between CEFD and CTAP is 0.27, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 9, 2025 | 0.27 |
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Return for Risk
CEFD vs. CTAP — Risk / Return Rank
CEFD
CTAP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CEFD vs. CTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN (CEFD) 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.
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.
| CEFD | CTAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.18 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | — | — |
| Martin ratioReturn relative to average drawdown | 4.48 | — | — |
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Drawdowns
CEFD vs. CTAP - Drawdown Comparison
The maximum CEFD drawdown since its inception was -36.95%, which is greater than CTAP's maximum drawdown of -20.48%. Use the drawdown chart below to compare losses from any high point for CEFD and CTAP.
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Drawdown Indicators
| CEFD | CTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.95% | -20.48% | -16.47% |
Max Drawdown (1Y)Largest decline over 1 year | -12.51% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -21.76% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -36.95% | — | — |
Current DrawdownCurrent decline from peak | -2.29% | -14.68% | +12.39% |
Average DrawdownAverage peak-to-trough decline | -11.46% | -5.27% | -6.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | — | — |
Volatility
CEFD vs. CTAP - Volatility Comparison
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Volatility by Period
| CEFD | CTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.08% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 12.11% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 13.68% | 24.78% | -11.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.02% | 24.78% | -6.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.22% | 24.78% | -7.56% |
CEFD vs. CTAP - Expense Ratio Comparison
CEFD has a 0.95% expense ratio, which is higher than CTAP's 0.10% expense ratio.
Dividends
CEFD vs. CTAP - Dividend Comparison
CEFD's dividend yield for the trailing twelve months is around 14.87%, more than CTAP's 1.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CEFD ETRACS Monthly Pay 1.5x Leveraged Closed-End Fund Index ETN | 14.87% | 14.88% | 13.90% | 14.76% | 16.56% | 10.31% | 5.37% |
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 1.83% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CEFD and CTAP have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
CTAP is cheaper with a 0.10% expense ratio, compared with 0.95% for CEFD.
CEFD has the higher dividend yield at 14.87%, compared with 1.83% for CTAP.
They also come from different issuers: UBS and Simplify. Their fees differ too: 0.95% for CEFD and 0.10% for CTAP.
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