CTA vs. HEQT

Last updated Apr 2, 2026

Compare and contrast key facts about Simplify Managed Futures Strategy ETF (CTA) and Simplify Hedged Equity ETF (HEQT).

CTA and HEQT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CTA is an actively managed fund by Simplify. It was launched on Mar 7, 2022. HEQT is an actively managed fund by Simplify. It was launched on Nov 1, 2021.

Performance

CTA vs. HEQT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Managed Futures Strategy ETF (CTA) and Simplify Hedged Equity ETF (HEQT). The values are adjusted to include any dividend payments, if applicable.

CTA vs. HEQT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CTA Simplify Managed Futures Strategy ETF	9.60%	0.88%	24.15%	-2.23%	9.55%
HEQT Simplify Hedged Equity ETF	-1.81%	10.08%	18.30%	16.61%	-1.32%

Returns By Period

In the year-to-date period, CTA achieves a 9.60% return, which is significantly higher than HEQT's -1.81% return.

CTA

• 1D: -2.48%
• 1M: -2.23%
• YTD: 9.60%
• 6M: 8.67%
• 1Y: 3.16%
• 3Y*: 14.23%
• 5Y*: —
• 10Y*: —

HEQT

• 1D: -0.41%
• 1M: -3.20%
• YTD: -1.81%
• 6M: 0.91%
• 1Y: 11.06%
• 3Y*: 12.38%
• 5Y*: —
• 10Y*: —

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

CTA vs. HEQT - Expense Ratio Comparison

CTA has a 0.78% expense ratio, which is higher than HEQT's 0.53% expense ratio.

CTA

Simplify Managed Futures Strategy ETF

HEQT

Simplify Hedged Equity ETF

Return for Risk

CTA vs. HEQT — Risk / Return Rank

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

CTA

CTA Risk / Return Rank: 16
CTA Sharpe Ratio Rank: 16
CTA Sortino Ratio Rank: 15
CTA Omega Ratio Rank: 15
CTA Calmar Ratio Rank: 19
CTA Martin Ratio Rank: 16

HEQT

HEQT Risk / Return Rank: 75
HEQT Sharpe Ratio Rank: 72
HEQT Sortino Ratio Rank: 73
HEQT Omega Ratio Rank: 75
HEQT Calmar Ratio Rank: 77
HEQT Martin Ratio Rank: 80

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. HEQT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Managed Futures Strategy ETF (CTA) and Simplify Hedged Equity ETF (HEQT). 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	HEQT	Difference
Sharpe ratio Return per unit of total volatility	0.20	1.31	-1.12
Sortino ratio Return per unit of downside risk	0.36	1.90	-1.54
Omega ratio Gain probability vs. loss probability	1.05	1.29	-0.24
Calmar ratio Return relative to maximum drawdown	0.35	2.14	-1.79
Martin ratio Return relative to average drawdown	0.61	9.20	-8.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CTA vs. HEQT - Sharpe Ratio Comparison

The current CTA Sharpe Ratio is 0.20, which is lower than the HEQT Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of CTA and HEQT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CTA	HEQT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.20	1.31	-1.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.92	-0.29

Correlation

The correlation between CTA and HEQT is -0.11. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

CTA vs. HEQT - Dividend Comparison

CTA's dividend yield for the trailing twelve months is around 3.90%, more than HEQT's 1.28% yield.

	TTM	2025	2024	2023	2022	2021
CTA Simplify Managed Futures Strategy ETF	3.90%	3.19%	4.80%	7.78%	6.58%	0.00%
HEQT Simplify Hedged Equity ETF	1.28%	1.19%	1.29%	4.10%	3.94%	0.27%

Drawdowns

CTA vs. HEQT - Drawdown Comparison

The maximum CTA drawdown since its inception was -18.07%, which is greater than HEQT's maximum drawdown of -11.51%. Use the drawdown chart below to compare losses from any high point for CTA and HEQT.

Drawdown Indicators

	CTA	HEQT	Difference
Max Drawdown Largest peak-to-trough decline	-18.07%	-11.51%	-6.56%
Max Drawdown (1Y) Largest decline over 1 year	-10.68%	-5.22%	-5.46%
Current Drawdown Current decline from peak	-3.92%	-3.58%	-0.34%
Average Drawdown Average peak-to-trough decline	-5.74%	-2.88%	-2.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.16%	1.22%	+4.94%

Volatility

CTA vs. HEQT - Volatility Comparison

Simplify Managed Futures Strategy ETF (CTA) has a higher volatility of 8.27% compared to Simplify Hedged Equity ETF (HEQT) at 3.50%. This indicates that CTA's price experiences larger fluctuations and is considered to be riskier than HEQT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CTA	HEQT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.27%	3.50%	+4.77%
Volatility (6M) Calculated over the trailing 6-month period	12.98%	5.60%	+7.38%
Volatility (1Y) Calculated over the trailing 1-year period	16.24%	8.45%	+7.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.63%	8.57%	+7.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.63%	8.57%	+7.06%