CTA vs. IEFA
CTA (Simplify Managed Futures Strategy ETF) and IEFA (iShares Core MSCI EAFE ETF) are both exchange-traded funds - CTA is a Systematic Trend fund actively managed by Simplify, while IEFA is a Foreign Large Cap Equities fund tracking the MSCI EAFE IMI Index (Net). CTA is actively managed, while IEFA is passively managed. Over the past 3 years, CTA returned 9.41%/yr vs 16.31%/yr for IEFA. At a correlation of -0.18, they often move in opposite directions. CTA charges 0.78%/yr vs 0.07%/yr for IEFA.
Performance
CTA vs. IEFA - Performance Comparison
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Returns By Period
In the year-to-date period, CTA achieves a 6.10% return, which is significantly lower than IEFA's 9.51% return.
CTA
- 1D
- -1.22%
- 1M
- -10.45%
- YTD
- 6.10%
- 6M
- 8.48%
- 1Y
- 6.45%
- 3Y*
- 9.41%
- 5Y*
- —
- 10Y*
- —
IEFA
- 1D
- 0.18%
- 1M
- 1.09%
- YTD
- 9.51%
- 6M
- 11.08%
- 1Y
- 22.43%
- 3Y*
- 16.31%
- 5Y*
- 8.10%
- 10Y*
- 9.90%
CTA vs. IEFA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CTA Simplify Managed Futures Strategy ETF | 6.10% | 0.88% | 24.15% | -2.23% | 9.01% |
IEFA iShares Core MSCI EAFE ETF | 9.51% | 32.08% | 3.26% | 17.95% | 0.00% |
Correlation
The correlation between CTA and IEFA is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2022 | -0.18 |
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Return for Risk
CTA vs. IEFA — Risk / Return Rank
CTA
IEFA
CTA vs. IEFA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Managed Futures Strategy ETF (CTA) and iShares Core MSCI EAFE ETF (IEFA). 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 | IEFA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.25 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.44 | 1.83 | -1.39 |
| Martin ratioReturn relative to average drawdown | 1.24 | 6.93 | -5.69 |
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Drawdowns
CTA vs. IEFA - Drawdown Comparison
The maximum CTA drawdown since its inception was -18.07%, smaller than the maximum IEFA drawdown of -34.78%. Use the drawdown chart below to compare losses from any high point for CTA and IEFA.
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Drawdown Indicators
| CTA | IEFA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.07% | -34.78% | +16.71% |
Max Drawdown (1Y)Largest decline over 1 year | -12.94% | -11.50% | -1.44% |
Max Drawdown (3Y)Largest decline over 3 years | -12.94% | -13.76% | +0.82% |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.41% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.78% | — |
Current DrawdownCurrent decline from peak | -12.94% | -0.60% | -12.34% |
Average DrawdownAverage peak-to-trough decline | -5.71% | -6.68% | +0.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.57% | 3.03% | +1.54% |
Volatility
CTA vs. IEFA - Volatility Comparison
Simplify Managed Futures Strategy ETF (CTA) has a higher volatility of 6.16% compared to iShares Core MSCI EAFE ETF (IEFA) at 5.50%. This indicates that CTA's price experiences larger fluctuations and is considered to be riskier than IEFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CTA | IEFA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.16% | 5.50% | +0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 17.59% | 13.11% | +4.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.33% | 15.54% | +4.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.61% | 16.61% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.61% | 17.31% | -0.70% |
CTA vs. IEFA - Expense Ratio Comparison
CTA has a 0.78% expense ratio, which is higher than IEFA's 0.07% expense ratio.
Dividends
CTA vs. IEFA - Dividend Comparison
CTA's dividend yield for the trailing twelve months is around 5.13%, more than IEFA's 3.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CTA Simplify Managed Futures Strategy ETF | 5.13% | 3.19% | 4.80% | 7.78% | 6.58% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IEFA iShares Core MSCI EAFE ETF | 3.24% | 3.55% | 3.47% | 3.20% | 2.70% | 3.32% | 1.90% | 3.18% | 3.46% | 2.57% | 2.96% | 2.63% |
Frequently Asked Questions
CTA and IEFA have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CTA has higher volatility (6.16%) compared to IEFA (5.50%). In terms of maximum drawdown, CTA dropped -18.07% vs IEFA's -34.78%.
On 3-year performance, IEFA leads with 16.31% vs 9.41% for CTA. On fees, IEFA is cheaper at 0.07% per year. On volatility, IEFA has been the lower-risk option at 5.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IEFA has performed better with a 16.31% return vs 9.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEFA is cheaper with a 0.07% expense ratio, compared with 0.78% for CTA.
CTA has the higher dividend yield at 5.13%, compared with 3.24% for IEFA.
CTA is categorized as Systematic Trend, while IEFA is Foreign Large Cap Equities. They also come from different issuers: Simplify and iShares. Their fees differ too: 0.78% for CTA and 0.07% for IEFA.
IEFA currently has the higher Sharpe Ratio (1.35 vs 0.28), 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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