CTAP vs. DWAT

Last updated Apr 1, 2026

Compare and contrast key facts about Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP) and Arrow DWA Tactical ETF (DWAT).

CTAP and DWAT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CTAP is an actively managed fund by Simplify. It was launched on Dec 8, 2025. DWAT is an actively managed fund by Arrow Funds. It was launched on Oct 1, 2014.

Performance

CTAP vs. DWAT - 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 Arrow DWA Tactical ETF (DWAT). The values are adjusted to include any dividend payments, if applicable.

CTAP vs. DWAT - Yearly Performance Comparison

	2026 (YTD)
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	0.54%
DWAT Arrow DWA Tactical ETF	0.00%

Returns By Period

CTAP

• 1D: 1.18%
• 1M: -5.40%
• YTD: 5.36%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DWAT

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CTAP vs. DWAT - Expense Ratio Comparison

CTAP has a 0.10% expense ratio, which is lower than DWAT's 1.66% expense ratio.

DWAT

Arrow DWA Tactical ETF

CTAP

Simplify US Equity PLUS Managed Futures Strategy ETF

Return for Risk

CTAP vs. DWAT - 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 Arrow DWA Tactical ETF (DWAT). 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.

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

Sharpe Ratios by Period

	CTAP	DWAT	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.31	—	—

Dividends

CTAP vs. DWAT - Dividend Comparison

CTAP's dividend yield for the trailing twelve months is around 0.75%, while DWAT has not paid dividends to shareholders.

	TTM
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	0.75%
DWAT Arrow DWA Tactical ETF	0.00%

Drawdowns

CTAP vs. DWAT - Drawdown Comparison

The maximum CTAP drawdown since its inception was -9.02%, which is greater than DWAT's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for CTAP and DWAT.

Drawdown Indicators

	CTAP	DWAT	Difference
Max Drawdown Largest peak-to-trough decline	-9.02%	0.00%	-9.02%
Current Drawdown Current decline from peak	-5.64%	0.00%	-5.64%
Average Drawdown Average peak-to-trough decline	-2.15%	0.00%	-2.15%

Volatility

Volatility by Period

	CTAP	DWAT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	22.12%	0.00%	+22.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.12%	0.00%	+22.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.12%	0.00%	+22.12%