CTAP vs. CGSM
CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) and CGSM (Capital Group Short Duration Municipal Income ETF) are both exchange-traded funds - CTAP is a Diversified Portfolio fund actively managed by Simplify, while CGSM is a Municipal Bonds fund actively managed by Capital Group. Both are actively managed. Their -0.16 correlation means they have often moved in opposite directions in the past. CTAP charges 0.10%/yr vs 0.25%/yr for CGSM.
Performance
CTAP vs. CGSM - Performance Comparison
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Returns By Period
In the year-to-date period, CTAP achieves a 6.17% return, which is significantly higher than CGSM's 1.43% return.
CTAP
- 1D
- 0.91%
- 1M
- 0.15%
- 6M
- 2.05%
- YTD
- 6.17%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
CGSM
- 1D
- 0.16%
- 1M
- -0.19%
- 6M
- 0.48%
- YTD
- 1.43%
- 1Y
- 3.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.77M | $6.91M | $11.64M | |
| $2.22M | $6.68M | $3.56M |
CTAP vs. CGSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 6.17% | 2.22% |
CGSM Capital Group Short Duration Municipal Income ETF | 1.43% | 0.29% |
Correlation
The correlation between CTAP and CGSM is -0.16, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 9, 2025 | -0.16 |
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Return for Risk
CTAP vs. CGSM — Risk / Return Rank
CTAP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CGSM
CTAP vs. CGSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP) and Capital Group Short Duration Municipal Income ETF (CGSM). 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.
| CTAP | CGSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.51 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.79 | — |
| Martin ratioReturn relative to average drawdown | — | 8.71 | — |
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Drawdowns
CTAP vs. CGSM - Drawdown Comparison
The maximum CTAP drawdown since its inception was -20.48%, which is greater than CGSM's maximum drawdown of -1.42%. Use the drawdown chart below to compare losses from any high point for CTAP and CGSM.
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Drawdown Indicators
| CTAP | CGSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.48% | -1.42% | -19.06% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.18% | — |
Current DrawdownCurrent decline from peak | -16.83% | -0.19% | -16.64% |
Average DrawdownAverage peak-to-trough decline | -5.49% | -0.24% | -5.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.38% | — |
Volatility
CTAP vs. CGSM - Volatility Comparison
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Volatility by Period
| CTAP | CGSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.53% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.08% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 24.80% | 1.38% | +23.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.80% | 1.77% | +23.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.80% | 1.77% | +23.03% |
CTAP vs. CGSM - Expense Ratio Comparison
CTAP has a 0.10% expense ratio, which is lower than CGSM's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CTAP vs. CGSM - Dividend Comparison
CTAP's dividend yield for the trailing twelve months is around 1.87%, less than CGSM's 2.92% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CGSM Capital Group Short Duration Municipal Income ETF | 2.92% | 3.05% | 3.11% | 0.84% |
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 1.87% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CTAP and CGSM have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
CTAP is cheaper with a 0.10% expense ratio, compared with 0.25% for CGSM.
CGSM has the higher dividend yield at 2.92%, compared with 1.87% for CTAP.
CTAP is categorized as Diversified Portfolio, while CGSM is Municipal Bonds. They also come from different issuers: Simplify and Capital Group. Their fees differ too: 0.10% for CTAP and 0.25% for CGSM.
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