LONGX vs. CTA
LONGX (Longboard Alternative Growth Fund) and CTA (Simplify Managed Futures Strategy ETF) are both funds - LONGX is a Long-Short fund managed by Longboard, while CTA is a Systematic Trend fund actively managed by Simplify. Over the past 3 years, LONGX returned 11.04%/yr vs 8.19%/yr for CTA. At a correlation of -0.12, they often move in opposite directions. LONGX charges 1.99%/yr vs 0.78%/yr for CTA.
Performance
LONGX vs. CTA - Performance Comparison
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Returns By Period
In the year-to-date period, LONGX achieves a 13.48% return, which is significantly higher than CTA's 0.33% return.
LONGX
- 1D
- 0.00%
- 1M
- 1.01%
- 6M
- 10.46%
- YTD
- 13.48%
- 1Y
- 16.84%
- 3Y*
- 11.04%
- 5Y*
- 5.05%
- 10Y*
- 24.52%
CTA
- 1D
- 2.70%
- 1M
- -5.44%
- 6M
- -2.22%
- YTD
- 0.33%
- 1Y
- -0.10%
- 3Y*
- 8.19%
- 5Y*
- —
- 10Y*
- —
LONGX vs. CTA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
LONGX Longboard Alternative Growth Fund | 13.48% | 1.49% | 14.95% | 5.64% | -6.30% |
CTA Simplify Managed Futures Strategy ETF | 0.33% | 0.88% | 24.15% | -2.23% | 9.01% |
Correlation
The correlation between LONGX and CTA is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2022 | -0.12 |
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Return for Risk
LONGX vs. CTA — Risk / Return Rank
LONGX
CTA
LONGX vs. CTA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Longboard Alternative Growth Fund (LONGX) 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.
| LONGX | CTA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.50 | ||
| Sortino ratioReturn per unit of downside risk | +2.11 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.02 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | -0.00 | +2.31 |
| Martin ratioReturn relative to average drawdown | 8.83 | -0.01 | +8.84 |
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Drawdowns
LONGX vs. CTA - Drawdown Comparison
The maximum LONGX drawdown since its inception was -77.16%, which is greater than CTA's maximum drawdown of -20.44%. Use the drawdown chart below to compare losses from any high point for LONGX and CTA.
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Drawdown Indicators
| LONGX | CTA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.16% | -20.44% | -56.72% |
Max Drawdown (1Y)Largest decline over 1 year | -7.09% | -20.44% | +13.35% |
Max Drawdown (3Y)Largest decline over 3 years | -14.57% | -20.44% | +5.87% |
Max Drawdown (5Y)Largest decline over 5 years | -19.28% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -77.16% | — | — |
Current DrawdownCurrent decline from peak | -1.22% | -17.68% | +16.46% |
Average DrawdownAverage peak-to-trough decline | -7.31% | -5.93% | -1.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 6.76% | -4.91% |
Volatility
LONGX vs. CTA - Volatility Comparison
The current volatility for Longboard Alternative Growth Fund (LONGX) is 2.72%, while Simplify Managed Futures Strategy ETF (CTA) has a volatility of 5.15%. This indicates that LONGX 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
| LONGX | CTA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.72% | 5.15% | -2.43% |
Volatility (6M)Calculated over the trailing 6-month period | 8.45% | 17.93% | -9.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.93% | 20.61% | -9.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.90% | 16.63% | -4.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 137.73% | 16.63% | +121.10% |
LONGX vs. CTA - Expense Ratio Comparison
LONGX has a 1.99% expense ratio, which is higher than CTA's 0.78% expense ratio.
Dividends
LONGX vs. CTA - Dividend Comparison
LONGX has not paid dividends to shareholders, while CTA's dividend yield for the trailing twelve months is around 5.00%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CTA Simplify Managed Futures Strategy ETF | 5.00% | 3.19% | 4.80% | 7.78% | 6.58% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LONGX Longboard Alternative Growth Fund | 0.00% | 0.00% | 0.00% | 5.40% | 7.64% | 1.73% | 0.00% | 0.00% | 3.10% | 268.50% | 23.29% |
Frequently Asked Questions
LONGX and CTA have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CTA has higher volatility (5.15%) compared to LONGX (2.72%). In terms of maximum drawdown, LONGX dropped -77.16% vs CTA's -20.44%.
LONGX currently has the higher Sharpe Ratio (1.50 vs -0.00), 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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