IMF vs. CTA

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco Managed Futures Strategy ETF (IMF) and Simplify Managed Futures Strategy ETF (CTA).

IMF and CTA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IMF is an actively managed fund by Invesco. It was launched on Mar 19, 2025. CTA is an actively managed fund by Simplify. It was launched on Mar 7, 2022.

Performance

IMF vs. CTA - Performance Comparison

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

IMF vs. CTA - Yearly Performance Comparison

	2026 (YTD)	2025
IMF Invesco Managed Futures Strategy ETF	10.44%	-7.96%
CTA Simplify Managed Futures Strategy ETF	12.39%	-6.06%

Returns By Period

In the year-to-date period, IMF achieves a 10.44% return, which is significantly lower than CTA's 12.39% return.

IMF

• 1D: 0.20%
• 1M: 2.49%
• YTD: 10.44%
• 6M: 15.34%
• 1Y: 4.19%
• 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)

IMF vs. CTA - Expense Ratio Comparison

IMF has a 0.65% expense ratio, which is lower than CTA's 0.78% expense ratio.

CTA

Simplify Managed Futures Strategy ETF

IMF

Invesco Managed Futures Strategy ETF

Return for Risk

IMF vs. CTA — Risk / Return Rank

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

IMF

IMF Risk / Return Rank: 18
IMF Sharpe Ratio Rank: 20
IMF Sortino Ratio Rank: 18
IMF Omega Ratio Rank: 19
IMF Calmar Ratio Rank: 18
IMF Martin Ratio Rank: 15

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.

IMF vs. CTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Managed Futures Strategy ETF (IMF) 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.

	IMF	CTA	Difference
Sharpe ratio Return per unit of total volatility	0.32	0.40	-0.08
Sortino ratio Return per unit of downside risk	0.51	0.63	-0.12
Omega ratio Gain probability vs. loss probability	1.07	1.08	-0.01
Calmar ratio Return relative to maximum drawdown	0.29	0.66	-0.37
Martin ratio Return relative to average drawdown	0.42	1.14	-0.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMF vs. CTA - Sharpe Ratio Comparison

The current IMF Sharpe Ratio is 0.32, which is comparable to the CTA Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of IMF and CTA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IMF	CTA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.32	0.40	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.69	-0.56

Correlation

The correlation between IMF and CTA is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

IMF vs. CTA - Dividend Comparison

IMF's dividend yield for the trailing twelve months is around 0.91%, less than CTA's 3.81% yield.

	TTM	2025	2024	2023	2022
IMF Invesco Managed Futures Strategy ETF	0.91%	1.01%	0.00%	0.00%	0.00%
CTA Simplify Managed Futures Strategy ETF	3.81%	3.19%	4.80%	7.78%	6.58%

Drawdowns

IMF vs. CTA - Drawdown Comparison

The maximum IMF drawdown since its inception was -15.10%, smaller than the maximum CTA drawdown of -18.07%. Use the drawdown chart below to compare losses from any high point for IMF and CTA.

Drawdown Indicators

	IMF	CTA	Difference
Max Drawdown Largest peak-to-trough decline	-15.10%	-18.07%	+2.97%
Max Drawdown (1Y) Largest decline over 1 year	-12.31%	-10.68%	-1.63%
Current Drawdown Current decline from peak	0.00%	-1.47%	+1.47%
Average Drawdown Average peak-to-trough decline	-9.76%	-5.74%	-4.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.97%	6.16%	+2.81%

Volatility

IMF vs. CTA - Volatility Comparison

The current volatility for Invesco Managed Futures Strategy ETF (IMF) is 4.19%, while Simplify Managed Futures Strategy ETF (CTA) has a volatility of 8.10%. This indicates that IMF 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

	IMF	CTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	8.10%	-3.91%
Volatility (6M) Calculated over the trailing 6-month period	9.03%	12.72%	-3.69%
Volatility (1Y) Calculated over the trailing 1-year period	13.21%	16.05%	-2.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.13%	15.58%	-2.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.13%	15.58%	-2.45%