MFUL vs. CTAP

Last updated Jun 3, 2026

MFUL (Mindful Conservative ETF) and CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) are both Diversified Portfolio funds. Both are actively managed. At a 0.22 correlation, their price movements are largely independent. MFUL charges 1.10%/yr vs 0.10%/yr for CTAP.

Performance

MFUL vs. CTAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Mindful Conservative ETF (MFUL) and Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MFUL achieves a 3.57% return, which is significantly lower than CTAP's 22.34% return.

MFUL

• 1D: 0.38%
• 1M: 1.61%
• YTD: 3.57%
• 6M: 3.81%
• 1Y: 7.53%
• 3Y*: 5.05%
• 5Y*: —
• 10Y*: —

CTAP

• 1D: 0.68%
• 1M: -1.60%
• YTD: 22.34%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MFUL vs. CTAP - Yearly Performance Comparison

	2026 (YTD)	2025
MFUL Mindful Conservative ETF	3.57%	0.13%
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	22.34%	2.44%

Correlation

The correlation between MFUL and CTAP is 0.22, 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 10, 2025	0.22

MFUL vs. CTAP - Sectors Allocation Comparison

Sectors	MFUL	CTAP
Technology	25.8%	-
Financial Services	10.7%	49.3%
Industrials	9.9%	-
Consumer Cyclical	8.7%	-
Communication Services	8.4%	-
Healthcare	8.4%	-
Energy	8.0%	-
Consumer Defensive	6.7%	-
Utilities	5.5%	-
Basic Materials	5.5%	-
Real Estate	2.4%	-

Return for Risk

MFUL vs. CTAP — Risk / Return Rank

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

MFUL

MFUL Risk / Return Rank: 54
MFUL Sharpe Ratio Rank: 56
MFUL Sortino Ratio Rank: 56
MFUL Omega Ratio Rank: 61
MFUL Calmar Ratio Rank: 45
MFUL Martin Ratio Rank: 51

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.

MFUL vs. CTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mindful Conservative ETF (MFUL) 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.

	MFUL	CTAP	Difference
Sharpe ratio Return per unit of total volatility	1.93	—	—
Sortino ratio Return per unit of downside risk	2.74	—	—
Omega ratio Gain probability vs. loss probability	1.38	—	—
Calmar ratio Return relative to maximum drawdown	2.27	—	—
Martin ratio Return relative to average drawdown	8.78	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MFUL	CTAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	2.56	-2.54

Drawdowns

MFUL vs. CTAP - Drawdown Comparison

The maximum MFUL drawdown since its inception was -16.41%, which is greater than CTAP's maximum drawdown of -9.02%. Use the drawdown chart below to compare losses from any high point for MFUL and CTAP.

Drawdown Indicators

	MFUL	CTAP	Difference
Max Drawdown Largest peak-to-trough decline	-16.41%	-9.02%	-7.39%
Max Drawdown (1Y) Largest decline over 1 year	-3.36%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.74%	—	—
Current Drawdown Current decline from peak	-0.18%	-4.16%	+3.98%
Average Drawdown Average peak-to-trough decline	-9.51%	-2.16%	-7.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.87%	—	—

Volatility

Volatility by Period

	MFUL	CTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.43%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.23%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.92%	24.03%	-20.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.24%	24.03%	-19.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.24%	24.03%	-19.79%

MFUL vs. CTAP - Expense Ratio Comparison

MFUL has a 1.10% expense ratio, which is higher than CTAP's 0.10% expense ratio.

Dividends

MFUL vs. CTAP - Dividend Comparison

MFUL's dividend yield for the trailing twelve months is around 3.00%, more than CTAP's 0.64% yield.

Position	TTM	2025	2024	2023	2022
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	0.64%	0.00%	0.00%	0.00%	0.00%
MFUL Mindful Conservative ETF	3.00%	3.31%	2.59%	5.00%	0.29%

Frequently Asked Questions

Can I hold both MFUL and CTAP in my portfolio?

MFUL and CTAP have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MFUL or CTAP?

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.

Which ETF is cheaper, MFUL or CTAP?

CTAP is cheaper with a 0.10% expense ratio, compared with 1.10% for MFUL.

Which ETF pays a higher dividend yield, MFUL or CTAP?

MFUL has the higher dividend yield at 3.00%, compared with 0.64% for CTAP.

What is the main difference between MFUL and CTAP?

They also come from different issuers: Mohr Funds and Simplify. Their fees differ too: 1.10% for MFUL and 0.10% for CTAP.