HIGH vs. CTA

Last updated Jun 4, 2026

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 3.02%/yr vs 11.79%/yr for CTA. At a 0.01 correlation, their price movements are largely independent. HIGH charges 0.51%/yr vs 0.78%/yr for CTA.

Performance

HIGH vs. CTA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Enhanced Income ETF (HIGH) 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, HIGH achieves a -0.38% return, which is significantly lower than CTA's 12.30% return.

HIGH

• 1D: -0.32%
• 1M: 1.63%
• YTD: -0.38%
• 6M: -1.48%
• 1Y: -3.46%
• 3Y*: 3.02%
• 5Y*: —
• 10Y*: —

CTA

• 1D: 0.54%
• 1M: -7.86%
• YTD: 12.30%
• 6M: 13.80%
• 1Y: 15.57%
• 3Y*: 11.79%
• 5Y*: —
• 10Y*: —

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

HIGH vs. CTA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HIGH Simplify Enhanced Income ETF	-0.38%	4.35%	1.52%	7.70%	0.27%
CTA Simplify Managed Futures Strategy ETF	12.30%	0.88%	24.15%	-2.23%	-7.40%

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 31, 2022	0.01

HIGH vs. CTA - Sectors Allocation Comparison

Sectors	HIGH	CTA
Financial Services	71.3%	-49.1%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

HIGH vs. CTA — Risk / Return Rank

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

HIGH

HIGH Risk / Return Rank: 5
HIGH Sharpe Ratio Rank: 5
HIGH Sortino Ratio Rank: 4
HIGH Omega Ratio Rank: 4
HIGH Calmar Ratio Rank: 5
HIGH Martin Ratio Rank: 6

CTA

CTA Risk / Return Rank: 24
CTA Sharpe Ratio Rank: 22
CTA Sortino Ratio Rank: 20
CTA Omega Ratio Rank: 22
CTA Calmar Ratio Rank: 29
CTA Martin Ratio Rank: 26

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.

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.

	HIGH	CTA	Difference
Sharpe ratio: Return per unit of total volatility	-0.39	0.78	-1.17
Sortino ratio: Return per unit of downside risk	-0.51	1.12	-1.62
Omega ratio: Gain probability vs. loss probability	0.94	1.15	-0.22
Calmar ratio: Return relative to maximum drawdown	-0.37	1.42	-1.79
Martin ratio: Return relative to average drawdown	-0.53	3.72	-4.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HIGH vs. CTA - Sharpe Ratio Comparison

The current HIGH Sharpe Ratio is -0.39, which is lower than the CTA Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of HIGH 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.

Sharpe Ratios by Period

	HIGH	CTA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.39	0.78	-1.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.62	-0.22

Drawdowns

HIGH vs. CTA - Drawdown Comparison

The maximum HIGH drawdown since its inception was -9.50%, smaller than the maximum CTA drawdown of -18.07%. Use the drawdown chart below to compare losses from any high point for HIGH and CTA.

Drawdown Indicators

	HIGH	CTA	Difference
Max Drawdown Largest peak-to-trough decline	-9.50%	-18.07%	+8.57%
Max Drawdown (1Y) Largest decline over 1 year	-9.50%	-11.00%	+1.50%
Max Drawdown (3Y) Largest decline over 3 years	-9.50%	-11.23%	+1.73%
Current Drawdown Current decline from peak	-7.11%	-7.86%	+0.75%
Average Drawdown Average peak-to-trough decline	-2.37%	-5.67%	+3.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.53%	4.19%	+2.34%

Volatility

HIGH vs. CTA - Volatility Comparison

The current volatility for Simplify Enhanced Income ETF (HIGH) is 1.23%, while Simplify Managed Futures Strategy ETF (CTA) has a volatility of 7.76%. 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.

Volatility by Period

	HIGH	CTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	7.76%	-6.53%
Volatility (6M) Calculated over the trailing 6-month period	3.50%	17.30%	-13.80%
Volatility (1Y) Calculated over the trailing 1-year period	8.83%	20.12%	-11.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.56%	16.58%	-7.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.56%	16.58%	-7.02%

HIGH vs. CTA - Expense Ratio Comparison

HIGH has a 0.51% 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 7.33%, more than CTA's 4.85% yield.

Position	TTM	2025	2024	2023	2022
CTA Simplify Managed Futures Strategy ETF	4.85%	3.19%	4.80%	7.78%	6.58%
HIGH Simplify Enhanced Income ETF	7.33%	7.71%	8.34%	9.40%	0.62%

Frequently Asked Questions

Can I hold both HIGH and CTA in my portfolio?

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.

Which is riskier, HIGH or CTA?

CTA has higher volatility (7.76%) compared to HIGH (1.23%). In terms of maximum drawdown, HIGH dropped -9.50% vs CTA's -18.07%.

Which ETF is better, HIGH or CTA?

On 3-year performance, CTA leads with 11.79% vs 3.02% for HIGH. On fees, HIGH is cheaper at 0.51% per year. On volatility, HIGH has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HIGH or CTA?

Over the 3-year period, CTA has performed better with a 11.79% return vs 3.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HIGH or CTA?

HIGH is cheaper with a 0.51% expense ratio, compared with 0.78% for CTA.

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

HIGH has the higher dividend yield at 7.33%, compared with 4.85% for CTA.

What is the main difference between HIGH and CTA?

HIGH is categorized as Derivative Income, while CTA is Systematic Trend. Their fees differ too: 0.51% for HIGH and 0.78% for CTA.

Which has better risk-adjusted returns?

CTA currently has the higher Sharpe Ratio (0.78 vs -0.39), 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.