MFUT vs. CTAP

Last updated Aug 1, 2026

MFUT (Cambria Chesapeake Pure Trend ETF) and CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) are both exchange-traded funds - MFUT is a Systematic Trend fund actively managed by Cambria, while CTAP is a Diversified Portfolio fund actively managed by Simplify. Both are actively managed. Their 0.60 correlation means they have sometimes moved together and sometimes differently. MFUT charges 1.18%/yr vs 0.10%/yr for CTAP.

Performance

MFUT vs. CTAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cambria Chesapeake Pure Trend ETF (MFUT) 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, MFUT achieves a 17.76% return, which is significantly higher than CTAP's 8.91% return.

MFUT

• 1D: 0.31%
• 1M: 5.39%
• 6M: 9.31%
• YTD: 17.76%
• 1Y: 32.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -1.69%

CTAP

• 1D: 1.11%
• 1M: 4.75%
• 6M: 4.96%
• YTD: 8.91%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	$13.32M	$7.01M	$3.57M
MFUT Cambria Chesapeake Pure Trend ETF	$88.88K	$72.41K	$209.22K

MFUT vs. CTAP - Yearly Performance Comparison

	2026 (YTD)	2025
MFUT Cambria Chesapeake Pure Trend ETF	17.76%	2.55%
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	8.91%	2.22%

Correlation

The correlation between MFUT and CTAP is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 9, 2025	0.60

Return for Risk

MFUT vs. CTAP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MFUT

MFUT Risk / Return Rank: 80
MFUT Sharpe Ratio Rank: 85
MFUT Sortino Ratio Rank: 77
MFUT Omega Ratio Rank: 86
MFUT Calmar Ratio Rank: 84
MFUT Martin Ratio Rank: 69

CTAP

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MFUT vs. CTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cambria Chesapeake Pure Trend ETF (MFUT) 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.

	MFUT	CTAP	Difference
Sharpe ratio: Return per unit of total volatility	1.99	—	—
Sortino ratio: Return per unit of downside risk	2.47	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	3.16	—	—
Martin ratio: Return relative to average drawdown	8.45	—	—

Drawdowns

MFUT vs. CTAP - Drawdown Comparison

The maximum MFUT drawdown since its inception was -29.28%, which is greater than CTAP's maximum drawdown of -20.48%. Use the drawdown chart below to compare losses from any high point for MFUT and CTAP.

Drawdown Indicators

	MFUT	CTAP	Difference
Max Drawdown Largest peak-to-trough decline	-29.28%	-20.48%	-8.80%
Max Drawdown (1Y) Largest decline over 1 year	-9.89%	—	—
Current Drawdown Current decline from peak	-4.31%	-14.68%	+10.37%
Average Drawdown Average peak-to-trough decline	-15.78%	-5.27%	-10.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.70%	—	—

Volatility

Volatility by Period

	MFUT	CTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.11%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.72%	24.78%	-9.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.68%	24.78%	-11.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.68%	24.78%	-11.10%

MFUT vs. CTAP - Expense Ratio Comparison

MFUT has a 1.18% expense ratio, which is higher than CTAP's 0.10% expense ratio.

Dividends

MFUT vs. CTAP - Dividend Comparison

MFUT has not paid dividends to shareholders, while CTAP's dividend yield for the trailing twelve months is around 1.83%.

Position	TTM	2025	2024
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	1.83%	0.00%	0.00%
MFUT Cambria Chesapeake Pure Trend ETF	0.00%	0.00%	0.33%

Frequently Asked Questions

Can I hold both MFUT and CTAP in my portfolio?

MFUT and CTAP have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MFUT 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, MFUT or CTAP?

CTAP is cheaper with a 0.10% expense ratio, compared with 1.18% for MFUT.

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

CTAP has the higher dividend yield at 1.83%, compared with 0.00% for MFUT.

What is the main difference between MFUT and CTAP?

MFUT is categorized as Systematic Trend, while CTAP is Diversified Portfolio. They also come from different issuers: Cambria and Simplify. Their fees differ too: 1.18% for MFUT and 0.10% for CTAP.