CTAP vs. IBTI
CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) and IBTI (iShares iBonds Dec 2028 Term Treasury ETF) are both exchange-traded funds - CTAP is a Diversified Portfolio fund actively managed by Simplify, while IBTI is a Government Bonds fund tracking the ICE 2028 Maturity US Treasury Index. CTAP is actively managed, while IBTI is passively managed. At a correlation of -0.16, they often move in opposite directions. CTAP charges 0.10%/yr vs 0.07%/yr for IBTI.
Performance
CTAP vs. IBTI - Performance Comparison
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Returns By Period
In the year-to-date period, CTAP achieves a 7.96% return, which is significantly higher than IBTI's 0.39% return.
CTAP
- 1D
- 2.15%
- 1M
- -4.45%
- 6M
- 3.36%
- YTD
- 7.96%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBTI
- 1D
- -0.09%
- 1M
- -0.05%
- 6M
- 0.44%
- YTD
- 0.39%
- 1Y
- 3.01%
- 3Y*
- 3.87%
- 5Y*
- 0.00%
- 10Y*
- —
CTAP vs. IBTI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 7.96% | 2.22% |
IBTI iShares iBonds Dec 2028 Term Treasury ETF | 0.39% | 0.45% |
Correlation
The correlation between CTAP and IBTI is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 9, 2025 | -0.16 |
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Return for Risk
CTAP vs. IBTI — Risk / Return Rank
CTAP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IBTI
CTAP vs. IBTI - 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 iShares iBonds Dec 2028 Term Treasury ETF (IBTI). 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 | IBTI | 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 | — | 2.75 | — |
| Martin ratioReturn relative to average drawdown | — | 8.83 | — |
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Drawdowns
CTAP vs. IBTI - Drawdown Comparison
The maximum CTAP drawdown since its inception was -20.48%, which is greater than IBTI's maximum drawdown of -18.45%. Use the drawdown chart below to compare losses from any high point for CTAP and IBTI.
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Drawdown Indicators
| CTAP | IBTI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.48% | -18.45% | -2.03% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.11% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.18% | — |
Current DrawdownCurrent decline from peak | -15.43% | -3.83% | -11.60% |
Average DrawdownAverage peak-to-trough decline | -4.40% | -8.18% | +3.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.34% | — |
Volatility
CTAP vs. IBTI - Volatility Comparison
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Volatility by Period
| CTAP | IBTI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.52% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.13% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 24.47% | 1.68% | +22.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.47% | 4.99% | +19.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.47% | 5.13% | +19.34% |
CTAP vs. IBTI - Expense Ratio Comparison
CTAP has a 0.10% expense ratio, which is higher than IBTI's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CTAP vs. IBTI - Dividend Comparison
CTAP's dividend yield for the trailing twelve months is around 1.84%, less than IBTI's 3.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 1.84% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBTI iShares iBonds Dec 2028 Term Treasury ETF | 3.80% | 3.87% | 3.92% | 3.27% | 1.70% | 0.90% | 0.56% |
Frequently Asked Questions
CTAP and IBTI have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTI is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTI is cheaper with a 0.07% expense ratio, compared with 0.10% for CTAP.
IBTI has the higher dividend yield at 3.80%, compared with 1.84% for CTAP.
CTAP is categorized as Diversified Portfolio, while IBTI is Government Bonds. They also come from different issuers: Simplify and iShares. Their fees differ too: 0.10% for CTAP and 0.07% for IBTI.
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