DRAI vs. CTAP

Last updated Apr 5, 2026

Compare and contrast key facts about Draco Evolution AI ETF (DRAI) and Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP).

DRAI and CTAP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DRAI is an actively managed fund by Draco Evolution. It was launched on Jul 9, 2024. CTAP is an actively managed fund by Simplify. It was launched on Dec 8, 2025.

Performance

DRAI vs. CTAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Draco Evolution AI ETF (DRAI) and Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DRAI achieves a -3.21% return, which is significantly lower than CTAP's 8.47% return.

DRAI

• 1D: 0.03%
• 1M: -1.94%
• YTD: -3.21%
• 6M: -0.09%
• 1Y: 35.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CTAP

• 1D: 4.62%
• 1M: -1.32%
• YTD: 8.47%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DRAI vs. CTAP - Yearly Performance Comparison

	2026 (YTD)	2025
DRAI Draco Evolution AI ETF	-3.21%	-1.50%
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	8.47%	2.44%

Correlation

The correlation between DRAI and CTAP is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined. Holding both can reduce overall portfolio volatility compared to holding either one alone.

DRAI vs. CTAP - Expense Ratio Comparison

DRAI has a 1.50% expense ratio, which is higher than CTAP's 0.10% expense ratio.

DRAI

Draco Evolution AI ETF

CTAP

Simplify US Equity PLUS Managed Futures Strategy ETF

Return for Risk

DRAI vs. CTAP — Risk / Return Rank

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

DRAI

DRAI Risk / Return Rank: 89
DRAI Sharpe Ratio Rank: 89
DRAI Sortino Ratio Rank: 92
DRAI Omega Ratio Rank: 89
DRAI Calmar Ratio Rank: 93
DRAI Martin Ratio Rank: 84

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.

DRAI vs. CTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Draco Evolution AI ETF (DRAI) and Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP). 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.

	DRAI	CTAP	Difference
Sharpe ratio Return per unit of total volatility	1.96	—	—
Sortino ratio Return per unit of downside risk	2.81	—	—
Omega ratio Gain probability vs. loss probability	1.39	—	—
Calmar ratio Return relative to maximum drawdown	4.26	—	—
Martin ratio Return relative to average drawdown	11.67	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DRAI	CTAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	1.74	-1.08

Drawdowns

DRAI vs. CTAP - Drawdown Comparison

The maximum DRAI drawdown since its inception was -13.69%, which is greater than CTAP's maximum drawdown of -9.02%. Use the drawdown chart below to compare losses from any high point for DRAI and CTAP.

Drawdown Indicators

	DRAI	CTAP	Difference
Max Drawdown Largest peak-to-trough decline	-13.69%	-9.02%	-4.67%
Max Drawdown (1Y) Largest decline over 1 year	-7.22%	—	—
Current Drawdown Current decline from peak	-5.98%	-2.85%	-3.13%
Average Drawdown Average peak-to-trough decline	-4.37%	-2.23%	-2.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.64%	—	—

Volatility

Volatility by Period

	DRAI	CTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.42%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.56%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.61%	23.50%	-7.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.56%	23.50%	-6.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.56%	23.50%	-6.94%

Dividends

DRAI vs. CTAP - Dividend Comparison

DRAI's dividend yield for the trailing twelve months is around 1.59%, more than CTAP's 0.73% yield.

	TTM	2025	2024
DRAI Draco Evolution AI ETF	1.59%	1.48%	2.18%
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	0.73%	0.00%	0.00%