CLSE vs. CTA

Last updated Jul 12, 2026

CLSE (Convergence Long/Short Equity ETF) and CTA (Simplify Managed Futures Strategy ETF) are both exchange-traded funds - CLSE is a Long-Short fund actively managed by Convergence Investment Partners, while CTA is a Systematic Trend fund actively managed by Simplify. Both are actively managed. Over the past 3 years, CLSE returned 31.07%/yr vs 6.30%/yr for CTA. At a correlation of -0.07, they often move in opposite directions. CLSE charges 1.52%/yr vs 0.78%/yr for CTA.

Performance

CLSE vs. CTA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Convergence Long/Short Equity ETF (CLSE) 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, CLSE achieves a 25.03% return, which is significantly higher than CTA's -2.31% return.

CLSE

• 1D: 0.47%
• 1M: 0.92%
• 6M: 23.18%
• YTD: 25.03%
• 1Y: 48.39%
• 3Y*: 31.07%
• 5Y*: —
• 10Y*: —

CTA

• 1D: -0.27%
• 1M: -9.06%
• 6M: -4.35%
• YTD: -2.31%
• 1Y: -2.73%
• 3Y*: 6.30%
• 5Y*: —
• 10Y*: —

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

CLSE vs. CTA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CLSE Convergence Long/Short Equity ETF	25.03%	20.44%	35.54%	17.54%	-2.90%
CTA Simplify Managed Futures Strategy ETF	-2.31%	0.88%	24.15%	-2.23%	9.01%

Correlation

The correlation between CLSE and CTA is -0.06, 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	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (All Time) Calculated using the full available price history since Mar 8, 2022	-0.07

Return for Risk

CLSE vs. CTA — Risk / Return Rank

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

CLSE

CLSE Risk / Return Rank: 97
CLSE Sharpe Ratio Rank: 97
CLSE Sortino Ratio Rank: 96
CLSE Omega Ratio Rank: 95
CLSE Calmar Ratio Rank: 98
CLSE Martin Ratio Rank: 97

CTA

CTA Risk / Return Rank: 9
CTA Sharpe Ratio Rank: 9
CTA Sortino Ratio Rank: 8
CTA Omega Ratio Rank: 8
CTA Calmar Ratio Rank: 9
CTA Martin Ratio Rank: 8

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.

CLSE vs. CTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Convergence Long/Short Equity ETF (CLSE) 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.

	CLSE	CTA	Difference
Sharpe ratio: Return per unit of total volatility	3.53	-0.07	+3.60
Sortino ratio: Return per unit of downside risk	4.71	0.05	+4.66
Omega ratio: Gain probability vs. loss probability	1.61	1.01	+0.60
Calmar ratio: Return relative to maximum drawdown	9.99	-0.07	+10.06
Martin ratio: Return relative to average drawdown	35.16	-0.20	+35.36

CLSE vs. CTA - Sharpe Ratio Comparison

The current CLSE Sharpe Ratio is 3.53, which is higher than the CTA Sharpe Ratio of -0.07. The chart below compares the historical Sharpe Ratios of CLSE 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.

Drawdowns

CLSE vs. CTA - Drawdown Comparison

The maximum CLSE drawdown since its inception was -16.45%, smaller than the maximum CTA drawdown of -20.44%. Use the drawdown chart below to compare losses from any high point for CLSE and CTA.

Drawdown Indicators

	CLSE	CTA	Difference
Max Drawdown Largest peak-to-trough decline	-16.45%	-20.44%	+3.99%
Max Drawdown (1Y) Largest decline over 1 year	-4.85%	-20.44%	+15.59%
Max Drawdown (3Y) Largest decline over 3 years	-16.45%	-20.44%	+3.99%
Current Drawdown Current decline from peak	-0.81%	-19.85%	+19.04%
Average Drawdown Average peak-to-trough decline	-3.54%	-5.92%	+2.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.38%	6.67%	-5.29%

Volatility

CLSE vs. CTA - Volatility Comparison

The current volatility for Convergence Long/Short Equity ETF (CLSE) is 3.99%, while Simplify Managed Futures Strategy ETF (CTA) has a volatility of 4.27%. This indicates that CLSE 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

	CLSE	CTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	4.27%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	10.76%	17.73%	-6.97%
Volatility (1Y) Calculated over the trailing 1-year period	13.75%	20.44%	-6.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.91%	16.59%	-2.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.91%	16.59%	-2.68%

CLSE vs. CTA - Expense Ratio Comparison

CLSE has a 1.52% expense ratio, which is higher than CTA's 0.78% expense ratio.

Dividends

CLSE vs. CTA - Dividend Comparison

CLSE's dividend yield for the trailing twelve months is around 0.76%, less than CTA's 5.14% yield.

Position	TTM	2025	2024	2023	2022
CLSE Convergence Long/Short Equity ETF	0.76%	0.95%	0.93%	1.21%	0.85%
CTA Simplify Managed Futures Strategy ETF	5.14%	3.19%	4.80%	7.78%	6.58%

Frequently Asked Questions

Can I hold both CLSE and CTA in my portfolio?

CLSE and CTA have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLSE or CTA?

CTA has higher volatility (4.27%) compared to CLSE (3.99%). In terms of maximum drawdown, CLSE dropped -16.45% vs CTA's -20.44%.

Which ETF is better, CLSE or CTA?

On 3-year performance, CLSE leads with 31.07% vs 6.30% for CTA. On fees, CTA is cheaper at 0.78% per year. On volatility, CLSE has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLSE or CTA?

Over the 3-year period, CLSE has performed better with a 31.07% return vs 6.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLSE or CTA?

CTA is cheaper with a 0.78% expense ratio, compared with 1.52% for CLSE.

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

CTA has the higher dividend yield at 5.14%, compared with 0.76% for CLSE.

What is the main difference between CLSE and CTA?

CLSE is categorized as Long-Short, while CTA is Systematic Trend. They also come from different issuers: Convergence Investment Partners and Simplify. Their fees differ too: 1.52% for CLSE and 0.78% for CTA.

Which has better risk-adjusted returns?

CLSE currently has the higher Sharpe Ratio (3.53 vs -0.07), 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.