PPI vs. CTA

Last updated Jun 4, 2026

PPI (AXS Astoria Inflation Sensitive ETF) and CTA (Simplify Managed Futures Strategy ETF) are both exchange-traded funds - PPI is a Global Allocation fund actively managed by AXS, while CTA is a Systematic Trend fund actively managed by Simplify. Both are actively managed. At a correlation of -0.20, they often move in opposite directions. PPI charges 0.76%/yr vs 0.78%/yr for CTA.

Performance

PPI vs. CTA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AXS Astoria Inflation Sensitive ETF (PPI) and Simplify Managed Futures Strategy ETF (CTA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PPI

• 1D: -0.13%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CTA

• 1D: 0.54%
• 1M: -7.86%
• YTD: 12.30%
• 6M: 13.80%
• 1Y: 15.57%
• 3Y*: 11.79%
• 5Y*: —
• 10Y*: —

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

PPI vs. CTA - Yearly Performance Comparison

	2026 (YTD)
PPI AXS Astoria Inflation Sensitive ETF	-0.59%
CTA Simplify Managed Futures Strategy ETF	2.64%

Correlation

The correlation between PPI and CTA is -0.20, 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 (All Time) Calculated using the full available price history since May 29, 2026	-0.20

PPI vs. CTA - Sectors Allocation Comparison

Sectors	PPI	CTA
Industrials	31.4%	-
Energy	23.1%	-
Utilities	18.7%	-
Real Estate	15.1%	-
Basic Materials	10.6%	-
Consumer Cyclical	0.6%	-
Technology	0.6%	-
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	-49.1%
Healthcare	-	-

Return for Risk

PPI vs. CTA — Risk / Return Rank

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

CTA

CTA Risk / Return Rank: 24
CTA Sharpe Ratio Rank: 22
CTA Sortino Ratio Rank: 20
CTA Omega Ratio Rank: 22
CTA Calmar Ratio Rank: 29
CTA Martin Ratio Rank: 26

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.

PPI vs. CTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AXS Astoria Inflation Sensitive ETF (PPI) 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.

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

Sharpe Ratios by Period

	PPI	CTA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	-2.74	0.62	-3.35

Drawdowns

PPI vs. CTA - Drawdown Comparison

The maximum PPI drawdown since its inception was -1.46%, smaller than the maximum CTA drawdown of -18.07%. Use the drawdown chart below to compare losses from any high point for PPI and CTA.

Drawdown Indicators

	PPI	CTA	Difference
Max Drawdown Largest peak-to-trough decline	-1.46%	-18.07%	+16.61%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.00%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-11.23%	—
Current Drawdown Current decline from peak	-0.59%	-7.86%	+7.27%
Average Drawdown Average peak-to-trough decline	-0.79%	-5.67%	+4.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.19%	—

Volatility

Volatility by Period

	PPI	CTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.76%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.30%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.05%	20.12%	-7.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.05%	16.58%	-3.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.05%	16.58%	-3.53%

PPI vs. CTA - Expense Ratio Comparison

PPI has a 0.76% expense ratio, which is lower than CTA's 0.78% expense ratio.

Dividends

PPI vs. CTA - Dividend Comparison

PPI has not paid dividends to shareholders, while CTA's dividend yield for the trailing twelve months is around 4.85%.

Position	TTM	2025	2024	2023	2022
CTA Simplify Managed Futures Strategy ETF	4.85%	3.19%	4.80%	7.78%	6.58%
PPI AXS Astoria Inflation Sensitive ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PPI and CTA in my portfolio?

PPI and CTA have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PPI or CTA?

On fees, PPI is cheaper at 0.76% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PPI or CTA?

PPI is cheaper with a 0.76% expense ratio, compared with 0.78% for CTA.

Which ETF pays a higher dividend yield, PPI or CTA?

CTA has the higher dividend yield at 4.85%, compared with 0.00% for PPI.

What is the main difference between PPI and CTA?

PPI is categorized as Global Allocation, while CTA is Systematic Trend. They also come from different issuers: AXS and Simplify. Their fees differ too: 0.76% for PPI and 0.78% for CTA.