CTA vs. HFMF

Last updated Apr 1, 2026

Compare and contrast key facts about Simplify Managed Futures Strategy ETF (CTA) and Unlimited HFMF Managed Futures ETF (HFMF).

CTA and HFMF 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. HFMF is an actively managed fund by Unlimited. It was launched on Jul 14, 2025.

Performance

CTA vs. HFMF - Performance Comparison

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

CTA vs. HFMF - Yearly Performance Comparison

	2026 (YTD)	2025
CTA Simplify Managed Futures Strategy ETF	12.39%	0.40%
HFMF Unlimited HFMF Managed Futures ETF	11.75%	6.34%

Returns By Period

In the year-to-date period, CTA achieves a 12.39% return, which is significantly higher than HFMF's 11.75% return.

CTA

• 1D: -1.31%
• 1M: 0.45%
• YTD: 12.39%
• 6M: 10.76%
• 1Y: 6.40%
• 3Y*: 15.19%
• 5Y*: —
• 10Y*: —

HFMF

• 1D: 1.40%
• 1M: -1.69%
• YTD: 11.75%
• 6M: 12.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CTA vs. HFMF - Expense Ratio Comparison

CTA has a 0.78% expense ratio, which is lower than HFMF's 0.97% expense ratio.

HFMF

Unlimited HFMF Managed Futures ETF

CTA

Simplify Managed Futures Strategy ETF

Return for Risk

CTA vs. HFMF — Risk / Return Rank

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

CTA

CTA Risk / Return Rank: 25
CTA Sharpe Ratio Rank: 25
CTA Sortino Ratio Rank: 24
CTA Omega Ratio Rank: 23
CTA Calmar Ratio Rank: 29
CTA Martin Ratio Rank: 21

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. HFMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Managed Futures Strategy ETF (CTA) and Unlimited HFMF Managed Futures ETF (HFMF). 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	HFMF	Difference
Sharpe ratio Return per unit of total volatility	0.40	—	—
Sortino ratio Return per unit of downside risk	0.63	—	—
Omega ratio Gain probability vs. loss probability	1.08	—	—
Calmar ratio Return relative to maximum drawdown	0.66	—	—
Martin ratio Return relative to average drawdown	1.14	—	—
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	HFMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.40	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	1.56	-0.88

Correlation

The correlation between CTA and HFMF is 0.38, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CTA vs. HFMF - Dividend Comparison

CTA's dividend yield for the trailing twelve months is around 3.81%, more than HFMF's 2.66% yield.

	TTM	2025	2024	2023	2022
CTA Simplify Managed Futures Strategy ETF	3.81%	3.19%	4.80%	7.78%	6.58%
HFMF Unlimited HFMF Managed Futures ETF	2.66%	2.97%	0.00%	0.00%	0.00%

Drawdowns

CTA vs. HFMF - Drawdown Comparison

The maximum CTA drawdown since its inception was -18.07%, which is greater than HFMF's maximum drawdown of -7.77%. Use the drawdown chart below to compare losses from any high point for CTA and HFMF.

Drawdown Indicators

	CTA	HFMF	Difference
Max Drawdown Largest peak-to-trough decline	-18.07%	-7.77%	-10.30%
Max Drawdown (1Y) Largest decline over 1 year	-10.68%	—	—
Current Drawdown Current decline from peak	-1.47%	-6.48%	+5.01%
Average Drawdown Average peak-to-trough decline	-5.74%	-1.70%	-4.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.16%	—	—

Volatility

Volatility by Period

	CTA	HFMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.10%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.72%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.05%	17.66%	-1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.58%	17.66%	-2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.58%	17.66%	-2.08%