QIS vs. CTA

Last updated Jun 24, 2026

QIS (Simplify Multi-Qis Alternative ETF) and CTA (Simplify Managed Futures Strategy ETF) are both exchange-traded funds - QIS is a Multistrategy fund actively managed by Simplify, while CTA is a Systematic Trend fund actively managed by Simplify. Both are actively managed. Over the past year, QIS returned -50.57% vs 2.63% for CTA. At a 0.17 correlation, their price movements are largely independent. QIS charges 1.00%/yr vs 0.78%/yr for CTA.

Performance

QIS vs. CTA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Multi-Qis Alternative ETF (QIS) 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, QIS achieves a -30.59% return, which is significantly lower than CTA's 0.24% return.

QIS

• 1D: -2.72%
• 1M: -21.94%
• YTD: -30.59%
• 6M: -33.19%
• 1Y: -50.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CTA

• 1D: -1.04%
• 1M: -12.64%
• YTD: 0.24%
• 6M: -0.16%
• 1Y: 2.63%
• 3Y*: 7.91%
• 5Y*: —
• 10Y*: —

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

QIS vs. CTA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QIS Simplify Multi-Qis Alternative ETF	-30.59%	-38.02%	0.19%	2.08%
CTA Simplify Managed Futures Strategy ETF	0.24%	0.88%	24.15%	-1.14%

Correlation

The correlation between QIS and CTA is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (All Time) Calculated using the full available price history since Jul 11, 2023	0.17

The correlation between QIS and CTA shifts across timeframes, from 0.17 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

QIS vs. CTA — Risk / Return Rank

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

QIS

QIS Risk / Return Rank: 1
QIS Sharpe Ratio Rank: 0
QIS Sortino Ratio Rank: 0
QIS Omega Ratio Rank: 0
QIS Calmar Ratio Rank: 1
QIS Martin Ratio Rank: 1

CTA

CTA Risk / Return Rank: 10
CTA Sharpe Ratio Rank: 10
CTA Sortino Ratio Rank: 10
CTA Omega Ratio Rank: 10
CTA Calmar Ratio Rank: 10
CTA Martin Ratio Rank: 11

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.

QIS vs. CTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Multi-Qis Alternative ETF (QIS) 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.

	QIS	CTA	Difference
Sharpe ratio: Return per unit of total volatility	-1.30	0.13	-1.43
Sortino ratio: Return per unit of downside risk	-2.07	0.31	-2.38
Omega ratio: Gain probability vs. loss probability	0.76	1.04	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.92	0.15	-1.07
Martin ratio: Return relative to average drawdown	-1.58	0.51	-2.09

QIS vs. CTA - Sharpe Ratio Comparison

The current QIS Sharpe Ratio is -1.30, which is lower than the CTA Sharpe Ratio of 0.13. The chart below compares the historical Sharpe Ratios of QIS 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

QIS vs. CTA - Drawdown Comparison

The maximum QIS drawdown since its inception was -59.30%, which is greater than CTA's maximum drawdown of -18.07%. Use the drawdown chart below to compare losses from any high point for QIS and CTA.

Drawdown Indicators

	QIS	CTA	Difference
Max Drawdown Largest peak-to-trough decline	-59.30%	-18.07%	-41.23%
Max Drawdown (1Y) Largest decline over 1 year	-55.12%	-17.75%	-37.37%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.75%	—
Current Drawdown Current decline from peak	-59.30%	-17.75%	-41.55%
Average Drawdown Average peak-to-trough decline	-14.45%	-5.77%	-8.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.10%	5.13%	+26.97%

Volatility

QIS vs. CTA - Volatility Comparison

Simplify Multi-Qis Alternative ETF (QIS) has a higher volatility of 11.78% compared to Simplify Managed Futures Strategy ETF (CTA) at 5.30%. This indicates that QIS's price experiences larger fluctuations and is considered to be riskier than CTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QIS	CTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.78%	5.30%	+6.48%
Volatility (6M) Calculated over the trailing 6-month period	30.41%	17.77%	+12.64%
Volatility (1Y) Calculated over the trailing 1-year period	38.95%	20.39%	+18.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.38%	16.62%	+12.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.38%	16.62%	+12.76%

QIS vs. CTA - Expense Ratio Comparison

QIS has a 1.00% expense ratio, which is higher than CTA's 0.78% expense ratio.

Dividends

QIS vs. CTA - Dividend Comparison

QIS's dividend yield for the trailing twelve months is around 1.94%, less than CTA's 5.43% yield.

Position	TTM	2025	2024	2023	2022
CTA Simplify Managed Futures Strategy ETF	5.43%	3.19%	4.80%	7.78%	6.58%
QIS Simplify Multi-Qis Alternative ETF	1.94%	3.37%	1.07%	3.29%	0.00%

Frequently Asked Questions

Can I hold both QIS and CTA in my portfolio?

QIS and CTA have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QIS or CTA?

QIS has higher volatility (11.78%) compared to CTA (5.30%). In terms of maximum drawdown, QIS dropped -59.30% vs CTA's -18.07%.

Which ETF is better, QIS or CTA?

On 1-year performance, CTA leads with 2.63% vs -50.57% for QIS. On fees, CTA is cheaper at 0.78% per year. On volatility, CTA has been the lower-risk option at 5.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QIS or CTA?

Over the 1-year period, CTA has performed better with a 2.63% return vs -50.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QIS or CTA?

CTA is cheaper with a 0.78% expense ratio, compared with 1.00% for QIS.

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

CTA has the higher dividend yield at 5.43%, compared with 1.94% for QIS.

What is the main difference between QIS and CTA?

QIS is categorized as Multistrategy, while CTA is Systematic Trend. Their fees differ too: 1.00% for QIS and 0.78% for CTA.

Which has better risk-adjusted returns?

CTA currently has the higher Sharpe Ratio (0.13 vs -1.30), 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.