ISMF vs. CTA
ISMF (iShares Managed Futures Active ETF) and CTA (Simplify Managed Futures Strategy ETF) are both Systematic Trend funds. Both are actively managed. Over the past year, ISMF returned 22.62% vs 2.69% for CTA. At a 0.25 correlation, their price movements are largely independent. ISMF charges 0.80%/yr vs 0.78%/yr for CTA.
Performance
ISMF vs. CTA - Performance Comparison
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Returns By Period
In the year-to-date period, ISMF achieves a 6.76% return, which is significantly higher than CTA's 1.30% return.
ISMF
- 1D
- -0.14%
- 1M
- -1.11%
- YTD
- 6.76%
- 6M
- 6.76%
- 1Y
- 22.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CTA
- 1D
- -0.85%
- 1M
- -11.72%
- YTD
- 1.30%
- 6M
- 1.33%
- 1Y
- 2.69%
- 3Y*
- 8.28%
- 5Y*
- —
- 10Y*
- —
ISMF vs. CTA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ISMF iShares Managed Futures Active ETF | 6.76% | 11.53% |
CTA Simplify Managed Futures Strategy ETF | 1.30% | -3.35% |
Correlation
The correlation between ISMF and CTA is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 2025 | 0.25 |
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Return for Risk
ISMF vs. CTA — Risk / Return Rank
ISMF
CTA
ISMF vs. CTA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Managed Futures Active ETF (ISMF) 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.
| ISMF | CTA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.72 | ||
| Sortino ratioReturn per unit of downside risk | +3.55 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.04 | +0.56 |
| Calmar ratioReturn relative to maximum drawdown | 5.76 | 0.16 | +5.60 |
| Martin ratioReturn relative to average drawdown | 19.42 | 0.54 | +18.89 |
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Drawdowns
ISMF vs. CTA - Drawdown Comparison
The maximum ISMF drawdown since its inception was -4.23%, smaller than the maximum CTA drawdown of -18.07%. Use the drawdown chart below to compare losses from any high point for ISMF and CTA.
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Drawdown Indicators
| ISMF | CTA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.23% | -18.07% | +13.84% |
Max Drawdown (1Y)Largest decline over 1 year | -3.94% | -16.89% | +12.95% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.89% | — |
Current DrawdownCurrent decline from peak | -1.49% | -16.89% | +15.40% |
Average DrawdownAverage peak-to-trough decline | -1.28% | -5.76% | +4.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 5.02% | -3.85% |
Volatility
ISMF vs. CTA - Volatility Comparison
The current volatility for iShares Managed Futures Active ETF (ISMF) is 1.82%, while Simplify Managed Futures Strategy ETF (CTA) has a volatility of 5.33%. This indicates that ISMF 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
| ISMF | CTA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.82% | 5.33% | -3.51% |
Volatility (6M)Calculated over the trailing 6-month period | 6.38% | 17.75% | -11.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.98% | 20.40% | -12.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.73% | 16.61% | -8.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.73% | 16.61% | -8.88% |
ISMF vs. CTA - Expense Ratio Comparison
ISMF has a 0.80% expense ratio, which is higher than CTA's 0.78% expense ratio.
Dividends
ISMF vs. CTA - Dividend Comparison
ISMF's dividend yield for the trailing twelve months is around 5.84%, more than CTA's 5.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CTA Simplify Managed Futures Strategy ETF | 5.38% | 3.19% | 4.80% | 7.78% | 6.58% |
ISMF iShares Managed Futures Active ETF | 5.84% | 6.23% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ISMF and CTA have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CTA has higher volatility (5.33%) compared to ISMF (1.82%). In terms of maximum drawdown, ISMF dropped -4.23% vs CTA's -18.07%.
On 1-year performance, ISMF leads with 22.62% vs 2.69% for CTA. On fees, CTA is cheaper at 0.78% per year. On volatility, ISMF has been the lower-risk option at 1.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ISMF has performed better with a 22.62% return vs 2.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CTA is cheaper with a 0.78% expense ratio, compared with 0.80% for ISMF.
ISMF has the higher dividend yield at 5.84%, compared with 5.38% for CTA.
They also come from different issuers: iShares and Simplify. Their fees differ too: 0.80% for ISMF and 0.78% for CTA.
ISMF currently has the higher Sharpe Ratio (2.85 vs 0.13), 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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