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. Their 0.32 correlation means their historical movements had little consistent relationship. CTAP charges 0.10%/yr vs 0.41%/yr for GAA.
Performance
CTAP vs. GAA - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with CTAP having a 8.91% return and GAA slightly lower at 8.59%.
CTAP
- 1D
- 1.11%
- 1M
- 4.75%
- 6M
- 4.96%
- YTD
- 8.91%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
GAA
- 1D
- -0.13%
- 1M
- 1.23%
- 6M
- 3.76%
- YTD
- 8.59%
- 1Y
- 18.83%
- 3Y*
- 12.44%
- 5Y*
- 6.27%
- 10Y*
- 7.35%
- ALL TIME*
- 6.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.32M | $7.01M | $3.57M | |
| $220.71K | $181.13K | $218.77K |
CTAP vs. GAA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 8.91% | 2.22% |
GAA Cambria Global Asset Allocation ETF | 8.59% | 1.83% |
Correlation
The correlation between CTAP and GAA is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 9, 2025 | 0.32 |
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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 | — | 1.37 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.23 | — |
| Martin ratioReturn relative to average drawdown | — | 11.51 | — |
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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.
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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 | -14.68% | -1.39% | -13.29% |
Average DrawdownAverage peak-to-trough decline | -5.27% | -3.82% | -1.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.62% | — |
Volatility
CTAP vs. GAA - Volatility Comparison
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Volatility by Period
| CTAP | GAA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.83% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 7.80% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 24.78% | 9.42% | +15.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.78% | 11.31% | +13.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.78% | 11.09% | +13.69% |
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 1.83%, less than GAA's 3.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 1.83% | 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 | 3.50% | 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 0.32, 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 3.50%, compared with 1.83% for CTAP.
They also come from different issuers: Simplify and Cambria. Their fees differ too: 0.10% for CTAP and 0.41% for GAA.
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