HFMF vs. CTA

Last updated Apr 1, 2026

Compare and contrast key facts about Unlimited HFMF Managed Futures ETF (HFMF) and Simplify Managed Futures Strategy ETF (CTA).

HFMF and CTA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HFMF is an actively managed fund by Unlimited. It was launched on Jul 14, 2025. CTA is an actively managed fund by Simplify. It was launched on Mar 7, 2022.

Performance

HFMF vs. CTA - Performance Comparison

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

HFMF vs. CTA - Yearly Performance Comparison

	2026 (YTD)	2025
HFMF Unlimited HFMF Managed Futures ETF	11.75%	6.34%
CTA Simplify Managed Futures Strategy ETF	12.39%	0.40%

Returns By Period

In the year-to-date period, HFMF achieves a 11.75% return, which is significantly lower than CTA's 12.39% return.

HFMF

• 1D: 1.40%
• 1M: -1.69%
• YTD: 11.75%
• 6M: 12.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CTA

• 1D: -1.31%
• 1M: 0.45%
• YTD: 12.39%
• 6M: 10.76%
• 1Y: 6.40%
• 3Y*: 15.19%
• 5Y*: —
• 10Y*: —

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

HFMF vs. CTA - Expense Ratio Comparison

HFMF has a 0.97% expense ratio, which is higher than CTA's 0.78% expense ratio.

HFMF

Unlimited HFMF Managed Futures ETF

CTA

Simplify Managed Futures Strategy ETF

Return for Risk

HFMF vs. CTA — Risk / Return Rank

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

CTA

CTA Risk / Return Rank: 25
CTA Sharpe Ratio Rank: 25
CTA Sortino Ratio Rank: 24
CTA Omega Ratio Rank: 23
CTA Calmar Ratio Rank: 29
CTA Martin Ratio Rank: 21

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.

HFMF vs. CTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Unlimited HFMF Managed Futures ETF (HFMF) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	HFMF	CTA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.56	0.69	+0.88

Correlation

The correlation between HFMF and CTA is 0.38, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

HFMF vs. CTA - Dividend Comparison

HFMF's dividend yield for the trailing twelve months is around 2.66%, less than CTA's 3.81% yield.

	TTM	2025	2024	2023	2022
HFMF Unlimited HFMF Managed Futures ETF	2.66%	2.97%	0.00%	0.00%	0.00%
CTA Simplify Managed Futures Strategy ETF	3.81%	3.19%	4.80%	7.78%	6.58%

Drawdowns

HFMF vs. CTA - Drawdown Comparison

The maximum HFMF drawdown since its inception was -7.77%, smaller than the maximum CTA drawdown of -18.07%. Use the drawdown chart below to compare losses from any high point for HFMF and CTA.

Drawdown Indicators

	HFMF	CTA	Difference
Max Drawdown Largest peak-to-trough decline	-7.77%	-18.07%	+10.30%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.68%	—
Current Drawdown Current decline from peak	-6.48%	-1.47%	-5.01%
Average Drawdown Average peak-to-trough decline	-1.70%	-5.74%	+4.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.16%	—

Volatility

Volatility by Period

	HFMF	CTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.10%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.72%	—
Volatility (1Y) Calculated over the trailing 1-year period	17.66%	16.05%	+1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.66%	15.58%	+2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.66%	15.58%	+2.08%