CTA vs. TLT
CTA (Simplify Managed Futures Strategy ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - CTA is a Systematic Trend fund actively managed by Simplify, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. CTA is actively managed, while TLT is passively managed. Over the past 3 years, CTA returned 9.41%/yr vs -1.38%/yr for TLT. At a correlation of -0.29, they often move in opposite directions. CTA charges 0.78%/yr vs 0.15%/yr for TLT.
Performance
CTA vs. TLT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CTA achieves a 6.10% return, which is significantly higher than TLT's 0.27% return.
CTA
- 1D
- -1.22%
- 1M
- -10.42%
- YTD
- 6.10%
- 6M
- 8.48%
- 1Y
- 5.66%
- 3Y*
- 9.41%
- 5Y*
- —
- 10Y*
- —
TLT
- 1D
- -0.24%
- 1M
- 1.54%
- YTD
- 0.27%
- 6M
- 0.45%
- 1Y
- 2.88%
- 3Y*
- -1.38%
- 5Y*
- -6.53%
- 10Y*
- -1.75%
CTA vs. TLT - 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% |
TLT iShares 20+ Year Treasury Bond ETF | 0.27% | 4.25% | -8.05% | 2.77% | -26.98% |
Correlation
The correlation between CTA and TLT is -0.32, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.32 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2022 | -0.29 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CTA vs. TLT — Risk / Return Rank
CTA
TLT
CTA vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Managed Futures Strategy ETF (CTA) and iShares 20+ Year Treasury Bond ETF (TLT). 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 | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.06 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.44 | 0.38 | +0.06 |
| Martin ratioReturn relative to average drawdown | 1.24 | 0.92 | +0.32 |
Loading charts...
Drawdowns
CTA vs. TLT - Drawdown Comparison
The maximum CTA drawdown since its inception was -18.07%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for CTA and TLT.
Loading charts...
Drawdown Indicators
| CTA | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.07% | -48.35% | +30.28% |
Max Drawdown (1Y)Largest decline over 1 year | -12.94% | -7.58% | -5.36% |
Max Drawdown (3Y)Largest decline over 3 years | -12.94% | -19.18% | +6.24% |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.70% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | -12.94% | -40.12% | +27.18% |
Average DrawdownAverage peak-to-trough decline | -5.71% | -13.84% | +8.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.57% | 3.14% | +1.43% |
Volatility
CTA vs. TLT - Volatility Comparison
Simplify Managed Futures Strategy ETF (CTA) has a higher volatility of 6.16% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.83%. This indicates that CTA's price experiences larger fluctuations and is considered to be riskier than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CTA | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.16% | 2.83% | +3.33% |
Volatility (6M)Calculated over the trailing 6-month period | 17.59% | 6.64% | +10.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.33% | 9.68% | +10.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.61% | 15.85% | +0.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.61% | 14.91% | +1.70% |
CTA vs. TLT - Expense Ratio Comparison
CTA has a 0.78% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
CTA vs. TLT - Dividend Comparison
CTA's dividend yield for the trailing twelve months is around 5.13%, more than TLT's 4.56% 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% |
TLT iShares 20+ Year Treasury Bond ETF | 4.56% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
CTA and TLT have a correlation of -0.32, 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 TLT (2.83%). In terms of maximum drawdown, CTA dropped -18.07% vs TLT's -48.35%.
On 3-year performance, CTA leads with 9.41% vs -1.38% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.83%. 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 9.41% return vs -1.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TLT is cheaper with a 0.15% expense ratio, compared with 0.78% for CTA.
CTA has the higher dividend yield at 5.13%, compared with 4.56% for TLT.
CTA is categorized as Systematic Trend, while TLT is Government Bonds. They also come from different issuers: Simplify and iShares. Their fees differ too: 0.78% for CTA and 0.15% for TLT.
TLT currently has the higher Sharpe Ratio (0.30 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.
Find the right allocation for CTA and TLT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer