CTAP vs. CLSM

Last updated Jun 23, 2026

CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) and CLSM (Cabana Target Leading Sector Moderate ETF) are both exchange-traded funds - CTAP is a Diversified Portfolio fund actively managed by Simplify, while CLSM is a Tactical Allocation fund tracking the Actively Managed. CTAP is actively managed, while CLSM is passively managed. At a 0.32 correlation, their price movements are largely independent. CTAP charges 0.10%/yr vs 0.82%/yr for CLSM.

Performance

CTAP vs. CLSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP) and Cabana Target Leading Sector Moderate ETF (CLSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CTAP achieves a 8.42% return, which is significantly lower than CLSM's 18.94% return.

CTAP

• 1D: -1.08%
• 1M: -12.31%
• YTD: 8.42%
• 6M: 7.64%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLSM

• 1D: -0.24%
• 1M: 1.70%
• YTD: 18.94%
• 6M: 17.85%
• 1Y: 32.91%
• 3Y*: 14.07%
• 5Y*: —
• 10Y*: —

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

CTAP vs. CLSM - Yearly Performance Comparison

	2026 (YTD)	2025
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	8.42%	2.22%
CLSM Cabana Target Leading Sector Moderate ETF	18.94%	-0.24%

Correlation

The correlation between CTAP and CLSM is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 9, 2025	0.32

Return for Risk

CTAP vs. CLSM — Risk / Return Rank

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

CTAP

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

CLSM

CLSM Risk / Return Rank: 77
CLSM Sharpe Ratio Rank: 78
CLSM Sortino Ratio Rank: 73
CLSM Omega Ratio Rank: 78
CLSM Calmar Ratio Rank: 78
CLSM 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.

CTAP vs. CLSM - 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 Cabana Target Leading Sector Moderate ETF (CLSM). 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	CLSM	Difference
Sharpe ratio: Return per unit of total volatility	—	2.40	—
Sortino ratio: Return per unit of downside risk	—	3.16	—
Omega ratio: Gain probability vs. loss probability	—	1.44	—
Calmar ratio: Return relative to maximum drawdown	—	3.89	—
Martin ratio: Return relative to average drawdown	—	15.29	—

Drawdowns

CTAP vs. CLSM - Drawdown Comparison

The maximum CTAP drawdown since its inception was -15.19%, smaller than the maximum CLSM drawdown of -27.77%. Use the drawdown chart below to compare losses from any high point for CTAP and CLSM.

Drawdown Indicators

	CTAP	CLSM	Difference
Max Drawdown Largest peak-to-trough decline	-15.19%	-27.77%	+12.58%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.50%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.60%	—
Current Drawdown Current decline from peak	-15.07%	-1.63%	-13.44%
Average Drawdown Average peak-to-trough decline	-2.99%	-16.35%	+13.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.16%	—

Volatility

Volatility by Period

	CTAP	CLSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.11%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.89%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.37%	13.80%	+10.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.37%	12.68%	+11.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.37%	12.68%	+11.69%

CTAP vs. CLSM - Expense Ratio Comparison

CTAP has a 0.10% expense ratio, which is lower than CLSM's 0.82% expense ratio.

Dividends

CTAP vs. CLSM - Dividend Comparison

CTAP's dividend yield for the trailing twelve months is around 0.73%, less than CLSM's 0.76% yield.

Position	TTM	2025	2024	2023	2022	2021
CLSM Cabana Target Leading Sector Moderate ETF	0.76%	0.90%	2.13%	2.58%	3.17%	0.59%
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	0.73%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CTAP and CLSM in my portfolio?

CTAP and CLSM 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.

Which ETF is better, CTAP or CLSM?

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.

Which ETF is cheaper, CTAP or CLSM?

CTAP is cheaper with a 0.10% expense ratio, compared with 0.82% for CLSM.

Which ETF pays a higher dividend yield, CTAP or CLSM?

CLSM has the higher dividend yield at 0.76%, compared with 0.73% for CTAP.

What is the main difference between CTAP and CLSM?

CTAP is categorized as Diversified Portfolio, while CLSM is Tactical Allocation. They also come from different issuers: Simplify and Cabana. Their fees differ too: 0.10% for CTAP and 0.82% for CLSM.