INCM vs. CTAP
INCM (Franklin Income Focus ETF) and CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) are both Diversified Portfolio funds. Both are actively managed. At a 0.20 correlation, their price movements are largely independent. INCM charges 0.38%/yr vs 0.10%/yr for CTAP.
Performance
INCM vs. CTAP - Performance Comparison
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Returns By Period
In the year-to-date period, INCM achieves a 6.45% return, which is significantly lower than CTAP's 7.96% return.
INCM
- 1D
- -0.21%
- 1M
- -0.58%
- 6M
- 4.74%
- YTD
- 6.45%
- 1Y
- 12.26%
- 3Y*
- 10.35%
- 5Y*
- —
- 10Y*
- —
CTAP
- 1D
- 2.15%
- 1M
- -4.45%
- 6M
- 3.36%
- YTD
- 7.96%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
INCM vs. CTAP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
INCM Franklin Income Focus ETF | 6.45% | 0.90% |
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 7.96% | 2.22% |
Correlation
The correlation between INCM and CTAP is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 9, 2025 | 0.20 |
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Return for Risk
INCM vs. CTAP — Risk / Return Rank
INCM
CTAP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
INCM vs. CTAP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Income Focus ETF (INCM) and Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP). 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.
| INCM | CTAP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.42 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.86 | — | — |
| Martin ratioReturn relative to average drawdown | 15.61 | — | — |
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Drawdowns
INCM vs. CTAP - Drawdown Comparison
The maximum INCM drawdown since its inception was -7.84%, smaller than the maximum CTAP drawdown of -20.48%. Use the drawdown chart below to compare losses from any high point for INCM and CTAP.
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Drawdown Indicators
| INCM | CTAP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.84% | -20.48% | +12.64% |
Max Drawdown (1Y)Largest decline over 1 year | -3.19% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -7.84% | — | — |
Current DrawdownCurrent decline from peak | -0.75% | -15.43% | +14.68% |
Average DrawdownAverage peak-to-trough decline | -1.08% | -4.40% | +3.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | — | — |
Volatility
INCM vs. CTAP - Volatility Comparison
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Volatility by Period
| INCM | CTAP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.22% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 4.34% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.50% | 24.47% | -18.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.25% | 24.47% | -17.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.25% | 24.47% | -17.22% |
INCM vs. CTAP - Expense Ratio Comparison
INCM has a 0.38% expense ratio, which is higher than CTAP's 0.10% expense ratio.
Dividends
INCM vs. CTAP - Dividend Comparison
INCM's dividend yield for the trailing twelve months is around 5.17%, more than CTAP's 1.84% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 1.84% | 0.00% | 0.00% | 0.00% |
INCM Franklin Income Focus ETF | 5.17% | 4.96% | 5.06% | 3.01% |
Frequently Asked Questions
INCM and CTAP have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CTAP is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CTAP is cheaper with a 0.10% expense ratio, compared with 0.38% for INCM.
INCM has the higher dividend yield at 5.17%, compared with 1.84% for CTAP.
They also come from different issuers: Franklin Templeton and Simplify. Their fees differ too: 0.38% for INCM and 0.10% for CTAP.
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