CTAP vs. SHY
CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) and SHY (iShares 1-3 Year Treasury Bond ETF) are both exchange-traded funds - CTAP is a Diversified Portfolio fund actively managed by Simplify, while SHY is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index. CTAP is actively managed, while SHY is passively managed. At a correlation of -0.13, they often move in opposite directions. CTAP charges 0.10%/yr vs 0.15%/yr for SHY.
Performance
CTAP vs. SHY - 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 SHY's 0.36% return.
CTAP
- 1D
- -1.08%
- 1M
- -12.31%
- YTD
- 8.42%
- 6M
- 7.64%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHY
- 1D
- -0.10%
- 1M
- 0.04%
- YTD
- 0.36%
- 6M
- 0.48%
- 1Y
- 2.93%
- 3Y*
- 4.07%
- 5Y*
- 1.74%
- 10Y*
- 1.61%
CTAP vs. SHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 8.42% | 2.22% |
SHY iShares 1-3 Year Treasury Bond ETF | 0.36% | 0.39% |
Correlation
The correlation between CTAP and SHY is -0.13, 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 | -0.13 |
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Return for Risk
CTAP vs. SHY — Risk / Return Rank
CTAP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SHY
CTAP vs. SHY - 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 1-3 Year Treasury Bond ETF (SHY). 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 | SHY | 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 | — | 3.31 | — |
| Martin ratioReturn relative to average drawdown | — | 12.93 | — |
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Drawdowns
CTAP vs. SHY - Drawdown Comparison
The maximum CTAP drawdown since its inception was -15.19%, which is greater than SHY's maximum drawdown of -5.71%. Use the drawdown chart below to compare losses from any high point for CTAP and SHY.
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Drawdown Indicators
| CTAP | SHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.19% | -5.71% | -9.48% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.89% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.97% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.71% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.71% | — |
Current DrawdownCurrent decline from peak | -15.07% | -0.38% | -14.69% |
Average DrawdownAverage peak-to-trough decline | -2.99% | -0.52% | -2.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.23% | — |
Volatility
CTAP vs. SHY - Volatility Comparison
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Volatility by Period
| CTAP | SHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.49% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.01% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 24.37% | 1.37% | +23.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.37% | 1.99% | +22.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.37% | 1.57% | +22.80% |
CTAP vs. SHY - Expense Ratio Comparison
CTAP has a 0.10% expense ratio, which is lower than SHY's 0.15% expense ratio. Despite the difference, 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. SHY - Dividend Comparison
CTAP's dividend yield for the trailing twelve months is around 0.73%, less than SHY's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 0.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHY iShares 1-3 Year Treasury Bond ETF | 3.69% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
Frequently Asked Questions
CTAP and SHY have a correlation of -0.13, 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 0.15% for SHY.
SHY has the higher dividend yield at 3.69%, compared with 0.73% for CTAP.
CTAP is categorized as Diversified Portfolio, while SHY is Government Bonds. They also come from different issuers: Simplify and iShares. Their fees differ too: 0.10% for CTAP and 0.15% for SHY.
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