NDAA vs. CTAP

Last updated Jun 24, 2026

NDAA (Ned Davis Research 360 Dynamic Allocation ETF) and CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) are both Diversified Portfolio funds. Both are actively managed. At a 0.34 correlation, their price movements are largely independent. NDAA charges 0.65%/yr vs 0.10%/yr for CTAP.

Performance

NDAA vs. CTAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ned Davis Research 360 Dynamic Allocation ETF (NDAA) 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, NDAA achieves a 8.02% return, which is significantly higher than CTAP's 5.23% return.

NDAA

• 1D: -1.66%
• 1M: -1.70%
• YTD: 8.02%
• 6M: 7.54%
• 1Y: 21.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CTAP

• 1D: -2.94%
• 1M: -14.89%
• YTD: 5.23%
• 6M: 3.79%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NDAA vs. CTAP - Yearly Performance Comparison

	2026 (YTD)	2025
NDAA Ned Davis Research 360 Dynamic Allocation ETF	8.02%	0.65%
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	5.23%	2.22%

Correlation

The correlation between NDAA and CTAP is 0.34, 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 9, 2025	0.34

Return for Risk

NDAA vs. CTAP — Risk / Return Rank

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

NDAA

NDAA Risk / Return Rank: 65
NDAA Sharpe Ratio Rank: 65
NDAA Sortino Ratio Rank: 62
NDAA Omega Ratio Rank: 64
NDAA Calmar Ratio Rank: 63
NDAA Martin Ratio Rank: 70

CTAP

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

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.

NDAA vs. CTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ned Davis Research 360 Dynamic Allocation ETF (NDAA) 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.

	NDAA	CTAP	Difference
Sharpe ratio: Return per unit of total volatility	1.92	—	—
Sortino ratio: Return per unit of downside risk	2.62	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	2.86	—	—
Martin ratio: Return relative to average drawdown	11.75	—	—

Drawdowns

NDAA vs. CTAP - Drawdown Comparison

The maximum NDAA drawdown since its inception was -13.50%, smaller than the maximum CTAP drawdown of -17.57%. Use the drawdown chart below to compare losses from any high point for NDAA and CTAP.

Drawdown Indicators

	NDAA	CTAP	Difference
Max Drawdown Largest peak-to-trough decline	-13.50%	-17.57%	+4.07%
Max Drawdown (1Y) Largest decline over 1 year	-7.62%	—	—
Current Drawdown Current decline from peak	-3.23%	-17.57%	+14.34%
Average Drawdown Average peak-to-trough decline	-1.96%	-3.10%	+1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	—	—

Volatility

Volatility by Period

	NDAA	CTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.22%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.37%	24.63%	-13.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.21%	24.63%	-12.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.21%	24.63%	-12.42%

NDAA vs. CTAP - Expense Ratio Comparison

NDAA has a 0.65% expense ratio, which is higher than CTAP's 0.10% expense ratio.

Dividends

NDAA vs. CTAP - Dividend Comparison

NDAA's dividend yield for the trailing twelve months is around 2.51%, more than CTAP's 0.75% yield.

Position	TTM	2025	2024
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	0.75%	0.00%	0.00%
NDAA Ned Davis Research 360 Dynamic Allocation ETF	2.51%	2.71%	0.83%

Frequently Asked Questions

Can I hold both NDAA and CTAP in my portfolio?

NDAA and CTAP have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NDAA 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, NDAA or CTAP?

CTAP is cheaper with a 0.10% expense ratio, compared with 0.65% for NDAA.

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

NDAA has the higher dividend yield at 2.51%, compared with 0.75% for CTAP.

What is the main difference between NDAA and CTAP?

They also come from different issuers: Ned Davis Research and Simplify. Their fees differ too: 0.65% for NDAA and 0.10% for CTAP.