ISMF vs. CTA

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Managed Futures Active ETF (ISMF) and Simplify Managed Futures Strategy ETF (CTA).

ISMF and CTA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ISMF is an actively managed fund by iShares. It was launched on Mar 12, 2025. CTA is an actively managed fund by Simplify. It was launched on Mar 7, 2022.

Performance

ISMF vs. CTA - Performance Comparison

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

ISMF vs. CTA - Yearly Performance Comparison

	2026 (YTD)	2025
ISMF iShares Managed Futures Active ETF	3.84%	11.58%
CTA Simplify Managed Futures Strategy ETF	12.39%	-4.56%

Returns By Period

In the year-to-date period, ISMF achieves a 3.84% return, which is significantly lower than CTA's 12.39% return.

ISMF

• 1D: 0.21%
• 1M: -1.88%
• YTD: 3.84%
• 6M: 9.57%
• 1Y: 15.08%
• 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)

ISMF vs. CTA - Expense Ratio Comparison

ISMF has a 0.80% expense ratio, which is higher than CTA's 0.78% expense ratio.

ISMF

iShares Managed Futures Active ETF

CTA

Simplify Managed Futures Strategy ETF

Return for Risk

ISMF vs. CTA — Risk / Return Rank

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

ISMF

ISMF Risk / Return Rank: 86
ISMF Sharpe Ratio Rank: 87
ISMF Sortino Ratio Rank: 88
ISMF Omega Ratio Rank: 89
ISMF Calmar Ratio Rank: 93
ISMF Martin Ratio Rank: 74

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.

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.

	ISMF	CTA	Difference
Sharpe ratio Return per unit of total volatility	1.84	0.40	+1.44
Sortino ratio Return per unit of downside risk	2.44	0.63	+1.82
Omega ratio Gain probability vs. loss probability	1.38	1.08	+0.29
Calmar ratio Return relative to maximum drawdown	3.60	0.66	+2.94
Martin ratio Return relative to average drawdown	7.89	1.14	+6.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISMF vs. CTA - Sharpe Ratio Comparison

The current ISMF Sharpe Ratio is 1.84, which is higher than the CTA Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of ISMF 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

	ISMF	CTA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	0.40	+1.44
Sharpe Ratio (All Time) Calculated using the full available price history	1.87	0.69	+1.19

Correlation

The correlation between ISMF and CTA is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ISMF vs. CTA - Dividend Comparison

ISMF's dividend yield for the trailing twelve months is around 6.00%, more than CTA's 3.81% yield.

	TTM	2025	2024	2023	2022
ISMF iShares Managed Futures Active ETF	6.00%	6.23%	0.00%	0.00%	0.00%
CTA Simplify Managed Futures Strategy ETF	3.81%	3.19%	4.80%	7.78%	6.58%

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.

Drawdown Indicators

	ISMF	CTA	Difference
Max Drawdown Largest peak-to-trough decline	-4.23%	-18.07%	+13.84%
Max Drawdown (1Y) Largest decline over 1 year	-4.23%	-10.68%	+6.45%
Current Drawdown Current decline from peak	-2.10%	-1.47%	-0.63%
Average Drawdown Average peak-to-trough decline	-1.41%	-5.74%	+4.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	6.16%	-4.23%

Volatility

ISMF vs. CTA - Volatility Comparison

The current volatility for iShares Managed Futures Active ETF (ISMF) is 2.90%, while Simplify Managed Futures Strategy ETF (CTA) has a volatility of 8.10%. 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.

Volatility by Period

	ISMF	CTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.90%	8.10%	-5.20%
Volatility (6M) Calculated over the trailing 6-month period	7.19%	12.72%	-5.53%
Volatility (1Y) Calculated over the trailing 1-year period	8.24%	16.05%	-7.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.10%	15.58%	-7.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.10%	15.58%	-7.48%