CTA vs. CDX
CTA (Simplify Managed Futures Strategy ETF) and CDX (Simplify High Yield ETF) are both exchange-traded funds - CTA is a Systematic Trend fund actively managed by Simplify, while CDX is a High Yield Bonds fund actively managed by Simplify. Both are actively managed. Over the past 3 years, CTA returned 8.35%/yr vs 7.17%/yr for CDX. Their -0.19 correlation means they have often moved in opposite directions in the past. CTA charges 0.78%/yr vs 0.25%/yr for CDX.
Performance
CTA vs. CDX - Performance Comparison
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Returns By Period
In the year-to-date period, CTA achieves a 2.94% return, which is significantly higher than CDX's -3.00% return.
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%
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%
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 |
CTA vs. CDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CTA Simplify Managed Futures Strategy ETF | 2.94% | 0.88% | 24.15% | -2.23% | 9.01% |
CDX Simplify High Yield ETF | -3.00% | 9.51% | 7.71% | 12.74% | -8.28% |
Correlation
The correlation between CTA and CDX 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
CTA vs. CDX — Risk / Return Rank
CTA
CDX
CTA vs. CDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Managed Futures Strategy ETF (CTA) and Simplify High Yield ETF (CDX). 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.
| CTA | CDX | 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 | 1.05 | 0.92 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.20 | -0.60 | +0.80 |
| Martin ratioReturn relative to average drawdown | 0.53 | -1.44 | +1.97 |
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Drawdowns
CTA vs. CDX - Drawdown Comparison
The maximum CTA drawdown since its inception was -20.44%, which is greater than CDX's maximum drawdown of -13.24%. Use the drawdown chart below to compare losses from any high point for CTA and CDX.
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Drawdown Indicators
| CTA | CDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.44% | -13.24% | -7.20% |
Max Drawdown (1Y)Largest decline over 1 year | -20.44% | -5.37% | -15.07% |
Max Drawdown (3Y)Largest decline over 3 years | -20.44% | -8.97% | -11.47% |
Current DrawdownCurrent decline from peak | -15.54% | -7.94% | -7.60% |
Average DrawdownAverage peak-to-trough decline | -6.06% | -4.44% | -1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.61% | 2.24% | +5.37% |
Volatility
CTA vs. CDX - Volatility Comparison
Simplify Managed Futures Strategy ETF (CTA) has a higher volatility of 8.38% compared to Simplify High Yield ETF (CDX) at 2.02%. This indicates that CTA's price experiences larger fluctuations and is considered to be riskier than CDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CTA | CDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.38% | 2.02% | +6.36% |
Volatility (6M)Calculated over the trailing 6-month period | 19.10% | 5.16% | +13.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.74% | 5.98% | +15.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.92% | 10.97% | +5.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.92% | 10.97% | +5.95% |
CTA vs. CDX - Expense Ratio Comparison
CTA has a 0.78% expense ratio, which is higher than CDX's 0.25% expense ratio.
Dividends
CTA vs. CDX - Dividend Comparison
CTA's dividend yield for the trailing twelve months is around 5.38%, less than CDX's 8.33% 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
CTA and CDX 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, CTA dropped -20.44% vs CDX's -13.24%.
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.
CTA is categorized as Systematic Trend, while CDX is High Yield Bonds. Their fees differ too: 0.78% for CTA and 0.25% for CDX.
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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