CTAP vs. GAA
CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) and GAA (Cambria Global Asset Allocation ETF) are both Diversified Portfolio funds. Both are actively managed. At a 0.33 correlation, their price movements are largely independent. CTAP charges 0.10%/yr vs 0.41%/yr for GAA.
Performance
CTAP vs. GAA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CTAP achieves a 7.96% return, which is significantly lower than GAA's 9.02% return.
CTAP
- 1D
- 2.15%
- 1M
- -4.45%
- 6M
- 3.36%
- YTD
- 7.96%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GAA
- 1D
- 0.50%
- 1M
- -0.72%
- 6M
- 6.85%
- YTD
- 9.02%
- 1Y
- 18.50%
- 3Y*
- 12.71%
- 5Y*
- 6.70%
- 10Y*
- 7.39%
CTAP vs. GAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 7.96% | 2.22% |
GAA Cambria Global Asset Allocation ETF | 9.02% | 1.83% |
Correlation
The correlation between CTAP and GAA is 0.33, 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 | 0.33 |
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
CTAP vs. GAA — Risk / Return Rank
CTAP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GAA
CTAP vs. GAA - 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 Cambria Global Asset Allocation ETF (GAA). 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 | GAA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.36 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.21 | — |
| Martin ratioReturn relative to average drawdown | — | 11.46 | — |
Loading charts...
Drawdowns
CTAP vs. GAA - Drawdown Comparison
The maximum CTAP drawdown since its inception was -20.48%, smaller than the maximum GAA drawdown of -26.57%. Use the drawdown chart below to compare losses from any high point for CTAP and GAA.
Loading charts...
Drawdown Indicators
| CTAP | GAA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.48% | -26.57% | +6.09% |
Max Drawdown (1Y)Largest decline over 1 year | — | -5.78% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.18% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.47% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.57% | — |
Current DrawdownCurrent decline from peak | -15.43% | -0.99% | -14.44% |
Average DrawdownAverage peak-to-trough decline | -4.40% | -3.83% | -0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.62% | — |
Volatility
CTAP vs. GAA - Volatility Comparison
Loading charts...
Volatility by Period
| CTAP | GAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.25% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 7.94% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 24.47% | 9.47% | +15.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.47% | 11.35% | +13.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.47% | 11.09% | +13.38% |
CTAP vs. GAA - Expense Ratio Comparison
CTAP has a 0.10% expense ratio, which is lower than GAA's 0.41% expense ratio.
Dividends
CTAP vs. GAA - Dividend Comparison
CTAP's dividend yield for the trailing twelve months is around 1.84%, less than GAA's 3.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 1.84% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GAA Cambria Global Asset Allocation ETF | 3.49% | 4.24% | 3.88% | 3.73% | 6.05% | 4.21% | 2.73% | 3.32% | 3.01% | 2.36% | 2.82% | 2.49% |
Frequently Asked Questions
CTAP and GAA have a correlation of 0.33, 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 0.41% for GAA.
GAA has the higher dividend yield at 3.49%, compared with 1.84% for CTAP.
They also come from different issuers: Simplify and Cambria. Their fees differ too: 0.10% for CTAP and 0.41% for GAA.
Find the right allocation for CTAP and GAA
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