PRIV vs. CTA

Last updated Jul 14, 2026

PRIV (State Street IG Public & Private Credit ETF) and CTA (Simplify Managed Futures Strategy ETF) are both exchange-traded funds - PRIV is a Intermediate Core-Plus Bond fund actively managed by State Street, while CTA is a Systematic Trend fund actively managed by Simplify. Both are actively managed. Over the past year, PRIV returned 4.38% vs -0.10% for CTA. At a correlation of -0.20, they often move in opposite directions. PRIV charges 0.55%/yr vs 0.78%/yr for CTA.

Performance

PRIV vs. CTA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street IG Public & Private Credit ETF (PRIV) and Simplify Managed Futures Strategy ETF (CTA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRIV achieves a -0.04% return, which is significantly lower than CTA's 0.33% return.

PRIV

• 1D: -0.40%
• 1M: -0.70%
• 6M: -0.21%
• YTD: -0.04%
• 1Y: 4.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CTA

• 1D: 2.70%
• 1M: -5.44%
• 6M: -2.22%
• YTD: 0.33%
• 1Y: -0.10%
• 3Y*: 8.19%
• 5Y*: —
• 10Y*: —

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

PRIV vs. CTA - Yearly Performance Comparison

	2026 (YTD)	2025
PRIV State Street IG Public & Private Credit ETF	-0.04%	5.07%
CTA Simplify Managed Futures Strategy ETF	0.33%	-3.21%

Correlation

The correlation between PRIV and CTA is -0.30, 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 (1Y) Calculated over the trailing 1-year period	-0.30
Correlation (All Time) Calculated using the full available price history since Feb 27, 2025	-0.20

Return for Risk

PRIV vs. CTA — Risk / Return Rank

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

PRIV

PRIV Risk / Return Rank: 41
PRIV Sharpe Ratio Rank: 42
PRIV Sortino Ratio Rank: 43
PRIV Omega Ratio Rank: 38
PRIV Calmar Ratio Rank: 42
PRIV Martin Ratio Rank: 41

CTA

CTA Risk / Return Rank: 9
CTA Sharpe Ratio Rank: 9
CTA Sortino Ratio Rank: 9
CTA Omega Ratio Rank: 9
CTA Calmar Ratio Rank: 9
CTA Martin Ratio Rank: 9

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.

PRIV vs. CTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street IG Public & Private Credit ETF (PRIV) 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.

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.

	PRIV	CTA	Difference
Sharpe ratio: Return per unit of total volatility	1.19	-0.00	+1.19
Sortino ratio: Return per unit of downside risk	1.79	0.13	+1.66
Omega ratio: Gain probability vs. loss probability	1.21	1.02	+0.19
Calmar ratio: Return relative to maximum drawdown	1.73	-0.00	+1.73
Martin ratio: Return relative to average drawdown	5.23	-0.01	+5.25

PRIV vs. CTA - Sharpe Ratio Comparison

The current PRIV Sharpe Ratio is 1.19, which is higher than the CTA Sharpe Ratio of -0.00. The chart below compares the historical Sharpe Ratios of PRIV and CTA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PRIV vs. CTA - Drawdown Comparison

The maximum PRIV drawdown since its inception was -2.75%, smaller than the maximum CTA drawdown of -20.44%. Use the drawdown chart below to compare losses from any high point for PRIV and CTA.

Drawdown Indicators

	PRIV	CTA	Difference
Max Drawdown Largest peak-to-trough decline	-2.75%	-20.44%	+17.69%
Max Drawdown (1Y) Largest decline over 1 year	-2.54%	-20.44%	+17.90%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.44%	—
Current Drawdown Current decline from peak	-1.74%	-17.68%	+15.94%
Average Drawdown Average peak-to-trough decline	-0.69%	-5.93%	+5.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.84%	6.76%	-5.92%

Volatility

PRIV vs. CTA - Volatility Comparison

The current volatility for State Street IG Public & Private Credit ETF (PRIV) is 1.34%, while Simplify Managed Futures Strategy ETF (CTA) has a volatility of 5.15%. This indicates that PRIV experiences smaller price fluctuations and is considered to be less risky than CTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRIV	CTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.34%	5.15%	-3.81%
Volatility (6M) Calculated over the trailing 6-month period	2.91%	17.93%	-15.02%
Volatility (1Y) Calculated over the trailing 1-year period	3.71%	20.61%	-16.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.16%	16.63%	-12.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.16%	16.63%	-12.47%

PRIV vs. CTA - Expense Ratio Comparison

PRIV has a 0.55% expense ratio, which is lower than CTA's 0.78% expense ratio.

Dividends

PRIV vs. CTA - Dividend Comparison

PRIV's dividend yield for the trailing twelve months is around 4.60%, less than CTA's 5.00% yield.

Position	TTM	2025	2024	2023	2022
CTA Simplify Managed Futures Strategy ETF	5.00%	3.19%	4.80%	7.78%	6.58%
PRIV State Street IG Public & Private Credit ETF	4.60%	3.75%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PRIV and CTA in my portfolio?

PRIV and CTA have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRIV or CTA?

CTA has higher volatility (5.15%) compared to PRIV (1.34%). In terms of maximum drawdown, PRIV dropped -2.75% vs CTA's -20.44%.

Which ETF is better, PRIV or CTA?

On 1-year performance, PRIV leads with 4.38% vs -0.10% for CTA. On fees, PRIV is cheaper at 0.55% per year. On volatility, PRIV has been the lower-risk option at 1.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PRIV or CTA?

Over the 1-year period, PRIV has performed better with a 4.38% return vs -0.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PRIV or CTA?

PRIV is cheaper with a 0.55% expense ratio, compared with 0.78% for CTA.

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

CTA has the higher dividend yield at 5.00%, compared with 4.60% for PRIV.

What is the main difference between PRIV and CTA?

PRIV is categorized as Intermediate Core-Plus Bond, while CTA is Systematic Trend. They also come from different issuers: State Street and Simplify. Their fees differ too: 0.55% for PRIV and 0.78% for CTA.

Which has better risk-adjusted returns?

PRIV currently has the higher Sharpe Ratio (1.19 vs -0.00), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.