FXED vs. CTAP

Last updated Jun 4, 2026

FXED (Sound Enhanced Fixed Income ETF) and CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) are both Diversified Portfolio funds. Both are actively managed. At a 0.11 correlation, their price movements are largely independent. FXED charges 2.33%/yr vs 0.10%/yr for CTAP.

Performance

FXED vs. CTAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sound Enhanced Fixed Income ETF (FXED) 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, FXED achieves a -0.68% return, which is significantly lower than CTAP's 21.95% return.

FXED

• 1D: -0.86%
• 1M: -1.64%
• YTD: -0.68%
• 6M: -0.29%
• 1Y: 4.11%
• 3Y*: 6.64%
• 5Y*: 2.33%
• 10Y*: —

CTAP

• 1D: -0.32%
• 1M: -3.24%
• YTD: 21.95%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FXED vs. CTAP - Yearly Performance Comparison

	2026 (YTD)	2025
FXED Sound Enhanced Fixed Income ETF	-0.68%	0.54%
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	21.95%	2.44%

Correlation

The correlation between FXED and CTAP is 0.11, 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 10, 2025	0.11

FXED vs. CTAP - Sectors Allocation Comparison

Sectors	FXED	CTAP
Financial Services	61.2%	49.3%
Real Estate	38.8%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

FXED vs. CTAP — Risk / Return Rank

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

FXED

FXED Risk / Return Rank: 18
FXED Sharpe Ratio Rank: 19
FXED Sortino Ratio Rank: 18
FXED Omega Ratio Rank: 17
FXED Calmar Ratio Rank: 19
FXED Martin Ratio Rank: 19

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.

FXED vs. CTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sound Enhanced Fixed Income ETF (FXED) 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.

	FXED	CTAP	Difference
Sharpe ratio Return per unit of total volatility	0.61	—	—
Sortino ratio Return per unit of downside risk	0.90	—	—
Omega ratio Gain probability vs. loss probability	1.11	—	—
Calmar ratio Return relative to maximum drawdown	0.77	—	—
Martin ratio Return relative to average drawdown	2.09	—	—
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

	FXED	CTAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.61	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	2.50	-2.12

Drawdowns

FXED vs. CTAP - Drawdown Comparison

The maximum FXED drawdown since its inception was -19.70%, which is greater than CTAP's maximum drawdown of -9.02%. Use the drawdown chart below to compare losses from any high point for FXED and CTAP.

Drawdown Indicators

	FXED	CTAP	Difference
Max Drawdown Largest peak-to-trough decline	-19.70%	-9.02%	-10.68%
Max Drawdown (1Y) Largest decline over 1 year	-5.36%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-8.96%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.70%	—	—
Current Drawdown Current decline from peak	-2.54%	-4.47%	+1.93%
Average Drawdown Average peak-to-trough decline	-4.77%	-2.18%	-2.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	—	—

Volatility

Volatility by Period

	FXED	CTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.12%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.21%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.79%	23.94%	-17.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.75%	23.94%	-15.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.59%	23.94%	-15.35%

FXED vs. CTAP - Expense Ratio Comparison

FXED has a 2.33% expense ratio, which is higher than CTAP's 0.10% expense ratio.

Dividends

FXED vs. CTAP - Dividend Comparison

FXED's dividend yield for the trailing twelve months is around 7.16%, more than CTAP's 0.65% yield.

Position	TTM	2025	2024	2023	2022	2021
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	0.65%	0.00%	0.00%	0.00%	0.00%	0.00%
FXED Sound Enhanced Fixed Income ETF	7.16%	6.96%	6.70%	5.65%	5.94%	4.59%

Frequently Asked Questions

Can I hold both FXED and CTAP in my portfolio?

FXED and CTAP have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FXED or CTAP?

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, FXED or CTAP?

CTAP is cheaper with a 0.10% expense ratio, compared with 2.33% for FXED.

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

FXED has the higher dividend yield at 7.16%, compared with 0.65% for CTAP.

What is the main difference between FXED and CTAP?

They also come from different issuers: Sound Income Strategies and Simplify. Their fees differ too: 2.33% for FXED and 0.10% for CTAP.