CTAP vs. XTWO
CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) and XTWO (BondBloxx Bloomberg Two Year Target Duration US Treasury ETF) are both exchange-traded funds - CTAP is a Diversified Portfolio fund actively managed by Simplify, while XTWO is a Government Bonds fund tracking the Bloomberg US Treasury 2 Year Target Duration Index. CTAP is actively managed, while XTWO is passively managed. Their -0.16 correlation means they have often moved in opposite directions in the past. CTAP charges 0.10%/yr vs 0.05%/yr for XTWO.
Performance
CTAP vs. XTWO - Performance Comparison
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Returns By Period
In the year-to-date period, CTAP achieves a 8.91% return, which is significantly higher than XTWO's 0.69% return.
CTAP
- 1D
- 1.11%
- 1M
- 4.75%
- 6M
- 4.96%
- YTD
- 8.91%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
XTWO
- 1D
- -0.04%
- 1M
- 0.02%
- 6M
- 0.53%
- YTD
- 0.69%
- 1Y
- 2.50%
- 3Y*
- 4.27%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.32M | $7.01M | $3.57M | |
| $4.20M | $4.65M | $2.40M |
CTAP vs. XTWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 8.91% | 2.22% |
XTWO BondBloxx Bloomberg Two Year Target Duration US Treasury ETF | 0.69% | 0.43% |
Correlation
The correlation between CTAP and XTWO is -0.16, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| 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. XTWO — Risk / Return Rank
CTAP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
XTWO
CTAP vs. XTWO - 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 BondBloxx Bloomberg Two Year Target Duration US Treasury ETF (XTWO). 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 | XTWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.42 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.34 | — |
| Martin ratioReturn relative to average drawdown | — | 11.16 | — |
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Drawdowns
CTAP vs. XTWO - Drawdown Comparison
The maximum CTAP drawdown since its inception was -20.48%, which is greater than XTWO's maximum drawdown of -1.73%. Use the drawdown chart below to compare losses from any high point for CTAP and XTWO.
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Drawdown Indicators
| CTAP | XTWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.48% | -1.73% | -18.75% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.91% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.18% | — |
Current DrawdownCurrent decline from peak | -14.68% | -0.10% | -14.58% |
Average DrawdownAverage peak-to-trough decline | -5.27% | -0.39% | -4.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.27% | — |
Volatility
CTAP vs. XTWO - Volatility Comparison
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Volatility by Period
| CTAP | XTWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.63% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.27% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 24.78% | 1.54% | +23.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.78% | 2.17% | +22.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.78% | 2.17% | +22.61% |
CTAP vs. XTWO - Expense Ratio Comparison
CTAP has a 0.10% expense ratio, which is higher than XTWO's 0.05% 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. XTWO - Dividend Comparison
CTAP's dividend yield for the trailing twelve months is around 1.83%, less than XTWO's 4.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 1.83% | 0.00% | 0.00% | 0.00% | 0.00% |
XTWO BondBloxx Bloomberg Two Year Target Duration US Treasury ETF | 3.65% | 4.24% | 4.54% | 4.07% | 1.13% |
Frequently Asked Questions
CTAP and XTWO 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, XTWO is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XTWO is cheaper with a 0.05% expense ratio, compared with 0.10% for CTAP.
XTWO has the higher dividend yield at 3.65%, compared with 1.83% for CTAP.
CTAP is categorized as Diversified Portfolio, while XTWO is Government Bonds. They also come from different issuers: Simplify and BondBloxx. Their fees differ too: 0.10% for CTAP and 0.05% for XTWO.
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