CTAP vs. RAA

Last updated Jun 23, 2026

CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) and RAA (SMI 3Fourteen REAL Asset Allocation ETF) are both Diversified Portfolio funds. Both are actively managed. At a 0.38 correlation, their price movements are largely independent. CTAP charges 0.10%/yr vs 0.85%/yr for RAA.

Performance

CTAP vs. RAA - 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 SMI 3Fourteen REAL Asset Allocation ETF (RAA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with CTAP having a 8.42% return and RAA slightly higher at 8.82%.

CTAP

• 1D: -1.08%
• 1M: -12.31%
• YTD: 8.42%
• 6M: 7.64%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

RAA

• 1D: -0.16%
• 1M: -0.64%
• YTD: 8.82%
• 6M: 8.51%
• 1Y: 21.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CTAP vs. RAA - Yearly Performance Comparison

	2026 (YTD)	2025
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	8.42%	2.22%
RAA SMI 3Fourteen REAL Asset Allocation ETF	8.82%	0.38%

Correlation

The correlation between CTAP and RAA is 0.38, 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	0.38

Return for Risk

CTAP vs. RAA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CTAP

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

RAA

RAA Risk / Return Rank: 69
RAA Sharpe Ratio Rank: 67
RAA Sortino Ratio Rank: 64
RAA Omega Ratio Rank: 68
RAA Calmar Ratio Rank: 74
RAA Martin Ratio Rank: 74

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CTAP vs. RAA - 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 SMI 3Fourteen REAL Asset Allocation ETF (RAA). 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	RAA	Difference
Sharpe ratio: Return per unit of total volatility	—	2.12	—
Sortino ratio: Return per unit of downside risk	—	2.86	—
Omega ratio: Gain probability vs. loss probability	—	1.39	—
Calmar ratio: Return relative to maximum drawdown	—	3.62	—
Martin ratio: Return relative to average drawdown	—	13.63	—

Drawdowns

CTAP vs. RAA - Drawdown Comparison

The maximum CTAP drawdown since its inception was -15.19%, which is greater than RAA's maximum drawdown of -11.96%. Use the drawdown chart below to compare losses from any high point for CTAP and RAA.

Drawdown Indicators

	CTAP	RAA	Difference
Max Drawdown Largest peak-to-trough decline	-15.19%	-11.96%	-3.23%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.91%	—
Current Drawdown Current decline from peak	-15.07%	-2.39%	-12.68%
Average Drawdown Average peak-to-trough decline	-2.99%	-1.48%	-1.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.56%	—

Volatility

Volatility by Period

	CTAP	RAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.90%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.37%	10.11%	+14.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.37%	12.86%	+11.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.37%	12.86%	+11.51%

CTAP vs. RAA - Expense Ratio Comparison

CTAP has a 0.10% expense ratio, which is lower than RAA's 0.85% expense ratio.

Dividends

CTAP vs. RAA - Dividend Comparison

CTAP's dividend yield for the trailing twelve months is around 0.73%, less than RAA's 2.11% yield.

Position	TTM	2025
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	0.73%	0.00%
RAA SMI 3Fourteen REAL Asset Allocation ETF	2.11%	2.14%

Frequently Asked Questions

Can I hold both CTAP and RAA in my portfolio?

CTAP and RAA have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CTAP or RAA?

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.

Which ETF is cheaper, CTAP or RAA?

CTAP is cheaper with a 0.10% expense ratio, compared with 0.85% for RAA.

Which ETF pays a higher dividend yield, CTAP or RAA?

RAA has the higher dividend yield at 2.11%, compared with 0.73% for CTAP.

What is the main difference between CTAP and RAA?

They also come from different issuers: Simplify and SMI Advisory Services. Their fees differ too: 0.10% for CTAP and 0.85% for RAA.