CTAP vs. VOO

Last updated Jun 23, 2026

CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - CTAP is a Diversified Portfolio fund actively managed by Simplify, while VOO is a S&P 500 fund tracking the S&P 500 Index. CTAP is actively managed, while VOO is passively managed. At a 0.27 correlation, their price movements are largely independent. CTAP charges 0.10%/yr vs 0.03%/yr for VOO.

Performance

CTAP vs. VOO - 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 Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CTAP achieves a 8.42% return, which is significantly lower than VOO's 9.75% return.

CTAP

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

VOO

• 1D: -0.29%
• 1M: 0.08%
• YTD: 9.75%
• 6M: 9.30%
• 1Y: 26.77%
• 3Y*: 21.36%
• 5Y*: 13.58%
• 10Y*: 15.77%

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

CTAP vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	8.42%	2.22%
VOO Vanguard S&P 500 ETF	9.75%	0.05%

Correlation

The correlation between CTAP and VOO is 0.27, 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	0.27

Return for Risk

CTAP vs. VOO — 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.

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 70
VOO Sortino Ratio Rank: 67
VOO Omega Ratio Rank: 69
VOO Calmar Ratio Rank: 63
VOO 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. VOO - 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 Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	—	2.17	—
Sortino ratio: Return per unit of downside risk	—	2.93	—
Omega ratio: Gain probability vs. loss probability	—	1.39	—
Calmar ratio: Return relative to maximum drawdown	—	3.02	—
Martin ratio: Return relative to average drawdown	—	13.58	—

Drawdowns

CTAP vs. VOO - Drawdown Comparison

The maximum CTAP drawdown since its inception was -15.19%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for CTAP and VOO.

Drawdown Indicators

	CTAP	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-15.19%	-33.99%	+18.80%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.90%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.69%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.52%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-15.07%	-1.74%	-13.33%
Average Drawdown Average peak-to-trough decline	-2.99%	-3.68%	+0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.98%	—

Volatility

Volatility by Period

	CTAP	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.60%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.73%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.37%	12.39%	+11.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.37%	16.90%	+7.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.37%	18.05%	+6.32%

CTAP vs. VOO - Expense Ratio Comparison

CTAP has a 0.10% expense ratio, which is higher than VOO's 0.03% 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. VOO - Dividend Comparison

CTAP's dividend yield for the trailing twelve months is around 0.73%, less than VOO's 1.04% 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%
VOO Vanguard S&P 500 ETF	1.04%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both CTAP and VOO in my portfolio?

CTAP and VOO have a correlation of 0.27, 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 VOO?

On fees, VOO is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CTAP or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.10% for CTAP.

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

VOO has the higher dividend yield at 1.04%, compared with 0.73% for CTAP.

What is the main difference between CTAP and VOO?

CTAP is categorized as Diversified Portfolio, while VOO is S&P 500. They also come from different issuers: Simplify and Vanguard. Their fees differ too: 0.10% for CTAP and 0.03% for VOO.