CTAP vs. HEQT
CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) and HEQT (Simplify Hedged Equity ETF) are both exchange-traded funds - CTAP is a Diversified Portfolio fund actively managed by Simplify, while HEQT is a Equity Hedged fund actively managed by Simplify. Both are actively managed. At a 0.34 correlation, their price movements are largely independent. CTAP charges 0.10%/yr vs 0.43%/yr for HEQT.
Performance
CTAP vs. HEQT - Performance Comparison
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Returns By Period
In the year-to-date period, CTAP achieves a 8.42% return, which is significantly higher than HEQT's 4.76% return.
CTAP
- 1D
- -1.08%
- 1M
- -12.31%
- YTD
- 8.42%
- 6M
- 7.64%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HEQT
- 1D
- -0.21%
- 1M
- 0.57%
- YTD
- 4.76%
- 6M
- 4.67%
- 1Y
- 14.00%
- 3Y*
- 13.21%
- 5Y*
- —
- 10Y*
- —
CTAP vs. HEQT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 8.42% | 2.22% |
HEQT Simplify Hedged Equity ETF | 4.76% | 0.58% |
Correlation
The correlation between CTAP and HEQT is 0.34, 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 | 0.34 |
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Return for Risk
CTAP vs. HEQT — Risk / Return Rank
CTAP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HEQT
CTAP vs. HEQT - 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 Simplify Hedged Equity ETF (HEQT). 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 | HEQT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.43 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.76 | — |
| Martin ratioReturn relative to average drawdown | — | 12.50 | — |
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Drawdowns
CTAP vs. HEQT - Drawdown Comparison
The maximum CTAP drawdown since its inception was -15.19%, which is greater than HEQT's maximum drawdown of -11.51%. Use the drawdown chart below to compare losses from any high point for CTAP and HEQT.
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Drawdown Indicators
| CTAP | HEQT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.19% | -11.51% | -3.68% |
Max Drawdown (1Y)Largest decline over 1 year | — | -5.09% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -10.57% | — |
Current DrawdownCurrent decline from peak | -15.07% | -0.42% | -14.65% |
Average DrawdownAverage peak-to-trough decline | -2.99% | -2.77% | -0.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.12% | — |
Volatility
CTAP vs. HEQT - Volatility Comparison
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Volatility by Period
| CTAP | HEQT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.92% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 5.47% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 24.37% | 6.61% | +17.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.37% | 8.47% | +15.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.37% | 8.47% | +15.90% |
CTAP vs. HEQT - Expense Ratio Comparison
CTAP has a 0.10% expense ratio, which is lower than HEQT's 0.43% expense ratio.
Dividends
CTAP vs. HEQT - Dividend Comparison
CTAP's dividend yield for the trailing twelve months is around 0.73%, less than HEQT's 1.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 0.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HEQT Simplify Hedged Equity ETF | 1.20% | 1.19% | 1.29% | 4.10% | 3.94% | 0.27% |
Frequently Asked Questions
CTAP and HEQT have a correlation of 0.34, 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 0.43% for HEQT.
HEQT has the higher dividend yield at 1.20%, compared with 0.73% for CTAP.
CTAP is categorized as Diversified Portfolio, while HEQT is Equity Hedged. Their fees differ too: 0.10% for CTAP and 0.43% for HEQT.
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