CTA vs. CTAP

Last updated Jun 4, 2026

CTA (Simplify Managed Futures Strategy ETF) and CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) are both exchange-traded funds - CTA is a Systematic Trend fund actively managed by Simplify, while CTAP is a Diversified Portfolio fund actively managed by Simplify. Both are actively managed. A 0.79 correlation means they provide meaningful diversification when combined. CTA charges 0.78%/yr vs 0.10%/yr for CTAP.

Performance

CTA vs. CTAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Managed Futures Strategy ETF (CTA) 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, CTA achieves a 12.30% return, which is significantly lower than CTAP's 21.95% return.

CTA

• 1D: 0.54%
• 1M: -7.86%
• YTD: 12.30%
• 6M: 13.80%
• 1Y: 15.57%
• 3Y*: 11.79%
• 5Y*: —
• 10Y*: —

CTAP

• 1D: -0.32%
• 1M: -3.24%
• YTD: 21.95%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CTA vs. CTAP - Yearly Performance Comparison

	2026 (YTD)	2025
CTA Simplify Managed Futures Strategy ETF	12.30%	2.55%
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	21.95%	2.44%

Correlation

The correlation between CTA and CTAP is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025	0.79

CTA vs. CTAP - Sectors Allocation Comparison

Sectors	CTA	CTAP
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-
Financial Services	-49.1%	49.3%

Return for Risk

CTA vs. CTAP — Risk / Return Rank

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

CTA

CTA Risk / Return Rank: 24
CTA Sharpe Ratio Rank: 22
CTA Sortino Ratio Rank: 20
CTA Omega Ratio Rank: 22
CTA Calmar Ratio Rank: 29
CTA Martin Ratio Rank: 26

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.

CTA vs. CTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Managed Futures Strategy ETF (CTA) 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.

	CTA	CTAP	Difference
Sharpe ratio: Return per unit of total volatility	0.78	—	—
Sortino ratio: Return per unit of downside risk	1.12	—	—
Omega ratio: Gain probability vs. loss probability	1.15	—	—
Calmar ratio: Return relative to maximum drawdown	1.42	—	—
Martin ratio: Return relative to average drawdown	3.72	—	—
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

	CTA	CTAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.78	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	2.50	-1.88

Drawdowns

CTA vs. CTAP - Drawdown Comparison

The maximum CTA drawdown since its inception was -18.07%, which is greater than CTAP's maximum drawdown of -9.02%. Use the drawdown chart below to compare losses from any high point for CTA and CTAP.

Drawdown Indicators

	CTA	CTAP	Difference
Max Drawdown Largest peak-to-trough decline	-18.07%	-9.02%	-9.05%
Max Drawdown (1Y) Largest decline over 1 year	-11.00%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-11.23%	—	—
Current Drawdown Current decline from peak	-7.86%	-4.47%	-3.39%
Average Drawdown Average peak-to-trough decline	-5.67%	-2.18%	-3.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.19%	—	—

Volatility

Volatility by Period

	CTA	CTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.76%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.30%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.12%	23.94%	-3.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.58%	23.94%	-7.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.58%	23.94%	-7.36%

CTA vs. CTAP - Expense Ratio Comparison

CTA has a 0.78% expense ratio, which is higher than CTAP's 0.10% expense ratio.

Dividends

CTA vs. CTAP - Dividend Comparison

CTA's dividend yield for the trailing twelve months is around 4.85%, more than CTAP's 0.65% yield.

Position	TTM	2025	2024	2023	2022
CTA Simplify Managed Futures Strategy ETF	4.85%	3.19%	4.80%	7.78%	6.58%
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	0.65%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CTA and CTAP in my portfolio?

CTA and CTAP have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CTA 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, CTA or CTAP?

CTAP is cheaper with a 0.10% expense ratio, compared with 0.78% for CTA.

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

CTA has the higher dividend yield at 4.85%, compared with 0.65% for CTAP.

What is the main difference between CTA and CTAP?

CTA is categorized as Systematic Trend, while CTAP is Diversified Portfolio. Their fees differ too: 0.78% for CTA and 0.10% for CTAP.