HIGH vs. CTA
HIGH (Simplify Enhanced Income ETF) and CTA (Simplify Managed Futures Strategy ETF) are both exchange-traded funds - HIGH is a Derivative Income fund actively managed by Simplify, while CTA is a Systematic Trend fund actively managed by Simplify. Both are actively managed. Over the past 3 years, HIGH returned 2.69%/yr vs 8.18%/yr for CTA. At a 0.01 correlation, their price movements are largely independent. HIGH charges 0.50%/yr vs 0.78%/yr for CTA.
Performance
HIGH vs. CTA - Performance Comparison
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Returns By Period
In the year-to-date period, HIGH achieves a -0.61% return, which is significantly lower than CTA's 0.06% return.
HIGH
- 1D
- -0.53%
- 1M
- -0.23%
- 6M
- -0.45%
- YTD
- -0.61%
- 1Y
- -2.26%
- 3Y*
- 2.69%
- 5Y*
- —
- 10Y*
- —
CTA
- 1D
- -1.16%
- 1M
- -2.66%
- 6M
- -2.62%
- YTD
- 0.06%
- 1Y
- 0.36%
- 3Y*
- 8.18%
- 5Y*
- —
- 10Y*
- —
HIGH vs. CTA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HIGH Simplify Enhanced Income ETF | -0.61% | 4.35% | 1.52% | 7.70% | 0.47% |
CTA Simplify Managed Futures Strategy ETF | 0.06% | 0.88% | 24.15% | -2.23% | -6.96% |
Correlation
The correlation between HIGH and CTA is 0.01, 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 | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2022 | 0.01 |
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Return for Risk
HIGH vs. CTA — Risk / Return Rank
HIGH
CTA
HIGH vs. CTA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Enhanced Income ETF (HIGH) 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.
| HIGH | CTA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.02 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 0.02 | -0.34 |
| Martin ratioReturn relative to average drawdown | -0.52 | 0.05 | -0.57 |
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Drawdowns
HIGH vs. CTA - Drawdown Comparison
The maximum HIGH drawdown since its inception was -9.50%, smaller than the maximum CTA drawdown of -20.44%. Use the drawdown chart below to compare losses from any high point for HIGH and CTA.
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Drawdown Indicators
| HIGH | CTA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.50% | -20.44% | +10.94% |
Max Drawdown (1Y)Largest decline over 1 year | -7.08% | -20.44% | +13.36% |
Max Drawdown (3Y)Largest decline over 3 years | -9.50% | -20.44% | +10.94% |
Current DrawdownCurrent decline from peak | -7.33% | -17.90% | +10.57% |
Average DrawdownAverage peak-to-trough decline | -2.52% | -5.97% | +3.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.34% | 7.02% | -2.68% |
Volatility
HIGH vs. CTA - Volatility Comparison
The current volatility for Simplify Enhanced Income ETF (HIGH) is 1.87%, while Simplify Managed Futures Strategy ETF (CTA) has a volatility of 4.99%. This indicates that HIGH experiences smaller price fluctuations and is considered to be less risky than CTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIGH | CTA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.87% | 4.99% | -3.12% |
Volatility (6M)Calculated over the trailing 6-month period | 3.76% | 17.97% | -14.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.25% | 20.59% | -13.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.48% | 16.63% | -7.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.48% | 16.63% | -7.15% |
HIGH vs. CTA - Expense Ratio Comparison
HIGH has a 0.50% expense ratio, which is lower than CTA's 0.78% expense ratio.
Dividends
HIGH vs. CTA - Dividend Comparison
HIGH's dividend yield for the trailing twelve months is around 7.10%, more than CTA's 5.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CTA Simplify Managed Futures Strategy ETF | 5.02% | 3.19% | 4.80% | 7.78% | 6.58% |
HIGH Simplify Enhanced Income ETF | 7.10% | 7.71% | 8.34% | 9.40% | 0.62% |
Frequently Asked Questions
HIGH and CTA have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CTA has higher volatility (4.99%) compared to HIGH (1.87%). In terms of maximum drawdown, HIGH dropped -9.50% vs CTA's -20.44%.
On 3-year performance, CTA leads with 8.18% vs 2.69% for HIGH. On fees, HIGH is cheaper at 0.50% per year. On volatility, HIGH has been the lower-risk option at 1.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CTA has performed better with a 8.18% return vs 2.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HIGH is cheaper with a 0.50% expense ratio, compared with 0.78% for CTA.
HIGH has the higher dividend yield at 7.10%, compared with 5.02% for CTA.
HIGH is categorized as Derivative Income, while CTA is Systematic Trend. Their fees differ too: 0.50% for HIGH and 0.78% for CTA.
CTA currently has the higher Sharpe Ratio (0.02 vs -0.31), 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.
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