OCIO vs. CTAP

Last updated Jun 4, 2026

OCIO (ClearShares OCIO ETF) and CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) are both Diversified Portfolio funds. Both are actively managed. At a 0.18 correlation, their price movements are largely independent. OCIO charges 0.61%/yr vs 0.10%/yr for CTAP.

Performance

OCIO vs. CTAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ClearShares OCIO ETF (OCIO) 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, OCIO achieves a 9.49% return, which is significantly lower than CTAP's 21.95% return.

OCIO

• 1D: -0.41%
• 1M: 4.66%
• YTD: 9.49%
• 6M: 9.97%
• 1Y: 21.05%
• 3Y*: 14.04%
• 5Y*: 7.46%
• 10Y*: —

CTAP

• 1D: -0.32%
• 1M: -3.24%
• YTD: 21.95%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OCIO vs. CTAP - Yearly Performance Comparison

	2026 (YTD)	2025
OCIO ClearShares OCIO ETF	9.49%	0.43%
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	21.95%	2.44%

Correlation

The correlation between OCIO and CTAP is 0.18, 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	0.18

OCIO vs. CTAP - Sectors Allocation Comparison

Sectors	OCIO	CTAP
Technology	35.9%	-
Financial Services	13.2%	49.3%
Industrials	10.9%	-
Consumer Cyclical	8.6%	-
Healthcare	7.9%	-
Communication Services	7.1%	-
Consumer Defensive	5.0%	-
Energy	3.8%	-
Basic Materials	3.3%	-
Utilities	2.6%	-
Real Estate	1.7%	-

Return for Risk

OCIO vs. CTAP — Risk / Return Rank

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

OCIO

OCIO Risk / Return Rank: 67
OCIO Sharpe Ratio Rank: 66
OCIO Sortino Ratio Rank: 68
OCIO Omega Ratio Rank: 67
OCIO Calmar Ratio Rank: 61
OCIO Martin Ratio Rank: 72

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.

OCIO vs. CTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ClearShares OCIO ETF (OCIO) 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.

	OCIO	CTAP	Difference
Sharpe ratio Return per unit of total volatility	2.18	—	—
Sortino ratio Return per unit of downside risk	3.11	—	—
Omega ratio Gain probability vs. loss probability	1.40	—	—
Calmar ratio Return relative to maximum drawdown	3.03	—	—
Martin ratio Return relative to average drawdown	13.42	—	—
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

	OCIO	CTAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	2.50	-1.79

Drawdowns

OCIO vs. CTAP - Drawdown Comparison

The maximum OCIO drawdown since its inception was -24.21%, which is greater than CTAP's maximum drawdown of -9.02%. Use the drawdown chart below to compare losses from any high point for OCIO and CTAP.

Drawdown Indicators

	OCIO	CTAP	Difference
Max Drawdown Largest peak-to-trough decline	-24.21%	-9.02%	-15.19%
Max Drawdown (1Y) Largest decline over 1 year	-6.98%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.32%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.75%	—	—
Current Drawdown Current decline from peak	-0.41%	-4.47%	+4.06%
Average Drawdown Average peak-to-trough decline	-4.44%	-2.18%	-2.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	—	—

Volatility

Volatility by Period

	OCIO	CTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.70%	23.94%	-14.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.60%	23.94%	-13.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.36%	23.94%	-12.58%

OCIO vs. CTAP - Expense Ratio Comparison

OCIO has a 0.61% expense ratio, which is higher than CTAP's 0.10% expense ratio.

Dividends

OCIO vs. CTAP - Dividend Comparison

OCIO's dividend yield for the trailing twelve months is around 9.47%, more than CTAP's 0.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	0.65%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
OCIO ClearShares OCIO ETF	9.47%	10.27%	1.87%	2.32%	3.21%	2.83%	2.90%	2.22%	0.01%	1.68%

Frequently Asked Questions

Can I hold both OCIO and CTAP in my portfolio?

OCIO and CTAP have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OCIO 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, OCIO or CTAP?

CTAP is cheaper with a 0.10% expense ratio, compared with 0.61% for OCIO.

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

OCIO has the higher dividend yield at 9.47%, compared with 0.65% for CTAP.

What is the main difference between OCIO and CTAP?

They also come from different issuers: ClearShares LLC and Simplify. Their fees differ too: 0.61% for OCIO and 0.10% for CTAP.