GXDW vs. CTA

Last updated Jul 14, 2026

GXDW (Global X Dorsey Wright Thematic ETF) and CTA (Simplify Managed Futures Strategy ETF) are both Systematic Trend funds. GXDW is passively managed, while CTA is actively managed. Over the past 3 years, GXDW returned -4.61%/yr vs 8.19%/yr for CTA. At a correlation of -0.13, they often move in opposite directions. GXDW charges 0.50%/yr vs 0.78%/yr for CTA.

Performance

GXDW vs. CTA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Dorsey Wright Thematic ETF (GXDW) and Simplify Managed Futures Strategy ETF (CTA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GXDW achieves a 0.52% return, which is significantly higher than CTA's 0.33% return.

GXDW

• 1D: -3.29%
• 1M: -12.96%
• 6M: -6.91%
• YTD: 0.52%
• 1Y: -4.72%
• 3Y*: -4.61%
• 5Y*: -12.49%
• 10Y*: —

CTA

• 1D: 2.70%
• 1M: -5.44%
• 6M: -2.22%
• YTD: 0.33%
• 1Y: -0.10%
• 3Y*: 8.19%
• 5Y*: —
• 10Y*: —

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

GXDW vs. CTA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GXDW Global X Dorsey Wright Thematic ETF	0.52%	3.52%	-3.55%	10.26%	-30.19%
CTA Simplify Managed Futures Strategy ETF	0.33%	0.88%	24.15%	-2.23%	9.01%

Correlation

The correlation between GXDW and CTA is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Mar 8, 2022	-0.13

The correlation between GXDW and CTA shifts across timeframes, from -0.13 (all time) to -0.02 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GXDW vs. CTA — Risk / Return Rank

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

GXDW

GXDW Risk / Return Rank: 8
GXDW Sharpe Ratio Rank: 8
GXDW Sortino Ratio Rank: 8
GXDW Omega Ratio Rank: 8
GXDW Calmar Ratio Rank: 7
GXDW Martin Ratio Rank: 7

CTA

CTA Risk / Return Rank: 9
CTA Sharpe Ratio Rank: 9
CTA Sortino Ratio Rank: 9
CTA Omega Ratio Rank: 9
CTA Calmar Ratio Rank: 9
CTA Martin Ratio Rank: 9

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.

GXDW vs. CTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Dorsey Wright Thematic ETF (GXDW) and Simplify Managed Futures Strategy ETF (CTA). 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.

	GXDW	CTA	Difference
Sharpe ratio: Return per unit of total volatility	-0.16	-0.00	-0.16
Sortino ratio: Return per unit of downside risk	-0.02	0.13	-0.15
Omega ratio: Gain probability vs. loss probability	1.00	1.02	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.19	-0.00	-0.19
Martin ratio: Return relative to average drawdown	-0.42	-0.01	-0.41

GXDW vs. CTA - Sharpe Ratio Comparison

The current GXDW Sharpe Ratio is -0.16, which is lower than the CTA Sharpe Ratio of -0.00. The chart below compares the historical Sharpe Ratios of GXDW and CTA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GXDW vs. CTA - Drawdown Comparison

The maximum GXDW drawdown since its inception was -67.81%, which is greater than CTA's maximum drawdown of -20.44%. Use the drawdown chart below to compare losses from any high point for GXDW and CTA.

Drawdown Indicators

	GXDW	CTA	Difference
Max Drawdown Largest peak-to-trough decline	-67.81%	-20.44%	-47.37%
Max Drawdown (1Y) Largest decline over 1 year	-24.65%	-20.44%	-4.21%
Max Drawdown (3Y) Largest decline over 3 years	-29.97%	-20.44%	-9.53%
Max Drawdown (5Y) Largest decline over 5 years	-61.17%	—	—
Current Drawdown Current decline from peak	-60.27%	-17.68%	-42.59%
Average Drawdown Average peak-to-trough decline	-43.26%	-5.93%	-37.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.26%	6.76%	+4.50%

Volatility

GXDW vs. CTA - Volatility Comparison

Global X Dorsey Wright Thematic ETF (GXDW) has a higher volatility of 11.81% compared to Simplify Managed Futures Strategy ETF (CTA) at 5.15%. This indicates that GXDW's price experiences larger fluctuations and is considered to be riskier than CTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GXDW	CTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.81%	5.15%	+6.66%
Volatility (6M) Calculated over the trailing 6-month period	23.39%	17.93%	+5.46%
Volatility (1Y) Calculated over the trailing 1-year period	29.48%	20.61%	+8.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.39%	16.63%	+11.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.93%	16.63%	+13.30%

GXDW vs. CTA - Expense Ratio Comparison

GXDW has a 0.50% expense ratio, which is lower than CTA's 0.78% expense ratio.

Dividends

GXDW vs. CTA - Dividend Comparison

GXDW's dividend yield for the trailing twelve months is around 1.49%, less than CTA's 5.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
CTA Simplify Managed Futures Strategy ETF	5.00%	3.19%	4.80%	7.78%	6.58%	0.00%	0.00%	0.00%
GXDW Global X Dorsey Wright Thematic ETF	1.49%	1.40%	1.08%	1.99%	1.48%	1.56%	0.48%	0.31%

Frequently Asked Questions

Can I hold both GXDW and CTA in my portfolio?

GXDW and CTA have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GXDW or CTA?

GXDW has higher volatility (11.81%) compared to CTA (5.15%). In terms of maximum drawdown, GXDW dropped -67.81% vs CTA's -20.44%.

Which ETF is better, GXDW or CTA?

On 3-year performance, CTA leads with 8.19% vs -4.61% for GXDW. On fees, GXDW is cheaper at 0.50% per year. On volatility, CTA has been the lower-risk option at 5.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GXDW or CTA?

Over the 3-year period, CTA has performed better with a 8.19% return vs -4.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GXDW or CTA?

GXDW is cheaper with a 0.50% expense ratio, compared with 0.78% for CTA.

Which ETF pays a higher dividend yield, GXDW or CTA?

CTA has the higher dividend yield at 5.00%, compared with 1.49% for GXDW.

What is the main difference between GXDW and CTA?

They also come from different issuers: Global X and Simplify. Their fees differ too: 0.50% for GXDW and 0.78% for CTA.

Which has better risk-adjusted returns?

CTA currently has the higher Sharpe Ratio (-0.00 vs -0.16), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.