CLSM vs. CTAP

Last updated Jun 3, 2026

CLSM (Cabana Target Leading Sector Moderate ETF) and CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) are both exchange-traded funds - CLSM is a Tactical Allocation fund tracking the Actively Managed, while CTAP is a Diversified Portfolio fund actively managed by Simplify. CLSM is passively managed, while CTAP is actively managed. At a 0.24 correlation, their price movements are largely independent. CLSM charges 0.82%/yr vs 0.10%/yr for CTAP.

Performance

CLSM vs. CTAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cabana Target Leading Sector Moderate ETF (CLSM) and Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLSM achieves a 20.91% return, which is significantly lower than CTAP's 22.34% return.

CLSM

• 1D: 0.55%
• 1M: 9.14%
• YTD: 20.91%
• 6M: 20.97%
• 1Y: 35.30%
• 3Y*: 13.89%
• 5Y*: —
• 10Y*: —

CTAP

• 1D: 0.68%
• 1M: -1.60%
• YTD: 22.34%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLSM vs. CTAP - Yearly Performance Comparison

	2026 (YTD)	2025
CLSM Cabana Target Leading Sector Moderate ETF	20.91%	-0.47%
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	22.34%	2.44%

Correlation

The correlation between CLSM and CTAP is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025	0.24

CLSM vs. CTAP - Sectors Allocation Comparison

Sectors	CLSM	CTAP
Technology	51.8%	-
Consumer Defensive	34.8%	-
Communication Services	5.5%	-
Consumer Cyclical	4.4%	-
Healthcare	1.4%	-
Industrials	1.0%	-
Utilities	0.5%	-
Basic Materials	0.4%	-
Energy	0.2%	-
Financial Services	0.1%	49.3%
Real Estate	0.0%	-

Return for Risk

CLSM vs. CTAP — Risk / Return Rank

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

CLSM

CLSM Risk / Return Rank: 82
CLSM Sharpe Ratio Rank: 84
CLSM Sortino Ratio Rank: 81
CLSM Omega Ratio Rank: 83
CLSM Calmar Ratio Rank: 81
CLSM Martin Ratio Rank: 84

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.

CLSM vs. CTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cabana Target Leading Sector Moderate ETF (CLSM) 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.

	CLSM	CTAP	Difference
Sharpe ratio Return per unit of total volatility	2.79	—	—
Sortino ratio Return per unit of downside risk	3.68	—	—
Omega ratio Gain probability vs. loss probability	1.51	—	—
Calmar ratio Return relative to maximum drawdown	4.25	—	—
Martin ratio Return relative to average drawdown	17.62	—	—
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

	CLSM	CTAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	2.56	-2.21

Drawdowns

CLSM vs. CTAP - Drawdown Comparison

The maximum CLSM drawdown since its inception was -27.77%, which is greater than CTAP's maximum drawdown of -9.02%. Use the drawdown chart below to compare losses from any high point for CLSM and CTAP.

Drawdown Indicators

	CLSM	CTAP	Difference
Max Drawdown Largest peak-to-trough decline	-27.77%	-9.02%	-18.75%
Max Drawdown (1Y) Largest decline over 1 year	-8.50%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.60%	—	—
Current Drawdown Current decline from peak	0.00%	-4.16%	+4.16%
Average Drawdown Average peak-to-trough decline	-16.50%	-2.16%	-14.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	—	—

Volatility

Volatility by Period

	CLSM	CTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.58%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.70%	24.03%	-11.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.47%	24.03%	-11.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.47%	24.03%	-11.56%

CLSM vs. CTAP - Expense Ratio Comparison

CLSM has a 0.82% expense ratio, which is higher than CTAP's 0.10% expense ratio.

Dividends

CLSM vs. CTAP - Dividend Comparison

CLSM's dividend yield for the trailing twelve months is around 0.74%, more than CTAP's 0.64% yield.

Position	TTM	2025	2024	2023	2022	2021
CLSM Cabana Target Leading Sector Moderate ETF	0.74%	0.90%	2.13%	2.58%	3.17%	0.59%
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	0.64%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CLSM and CTAP in my portfolio?

CLSM and CTAP have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CLSM or CTAP?

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.

Which ETF is cheaper, CLSM or CTAP?

CTAP is cheaper with a 0.10% expense ratio, compared with 0.82% for CLSM.

Which ETF pays a higher dividend yield, CLSM or CTAP?

CLSM has the higher dividend yield at 0.74%, compared with 0.64% for CTAP.

What is the main difference between CLSM and CTAP?

CLSM is categorized as Tactical Allocation, while CTAP is Diversified Portfolio. They also come from different issuers: Cabana and Simplify. Their fees differ too: 0.82% for CLSM and 0.10% for CTAP.