SHY vs. CTA
SHY (iShares 1-3 Year Treasury Bond ETF) and CTA (Simplify Managed Futures Strategy ETF) are both exchange-traded funds - SHY is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index, while CTA is a Systematic Trend fund actively managed by Simplify. SHY is passively managed, while CTA is actively managed. Over the past 3 years, SHY returned 4.11%/yr vs 8.43%/yr for CTA. At a correlation of -0.36, they often move in opposite directions. SHY charges 0.15%/yr vs 0.78%/yr for CTA.
Performance
SHY vs. CTA - Performance Comparison
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Returns By Period
In the year-to-date period, SHY achieves a 0.45% return, which is significantly lower than CTA's 2.16% return.
SHY
- 1D
- 0.13%
- 1M
- 0.24%
- YTD
- 0.45%
- 6M
- 0.51%
- 1Y
- 3.10%
- 3Y*
- 4.11%
- 5Y*
- 1.76%
- 10Y*
- 1.64%
CTA
- 1D
- 0.07%
- 1M
- -15.48%
- YTD
- 2.16%
- 6M
- 2.65%
- 1Y
- 3.05%
- 3Y*
- 8.43%
- 5Y*
- —
- 10Y*
- —
SHY vs. CTA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SHY iShares 1-3 Year Treasury Bond ETF | 0.45% | 4.95% | 3.92% | 4.16% | -2.67% |
CTA Simplify Managed Futures Strategy ETF | 2.16% | 0.88% | 24.15% | -2.23% | 9.01% |
Correlation
The correlation between SHY 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 (3Y) Calculated over the trailing 3-year period | -0.36 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2022 | -0.36 |
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Return for Risk
SHY vs. CTA — Risk / Return Rank
SHY
CTA
SHY vs. CTA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 1-3 Year Treasury Bond ETF (SHY) 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.
| SHY | CTA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.13 | ||
| Sortino ratioReturn per unit of downside risk | +3.28 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.04 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 3.51 | 0.19 | +3.32 |
| Martin ratioReturn relative to average drawdown | 13.79 | 0.62 | +13.16 |
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Drawdowns
SHY vs. CTA - Drawdown Comparison
The maximum SHY drawdown since its inception was -5.71%, smaller than the maximum CTA drawdown of -18.07%. Use the drawdown chart below to compare losses from any high point for SHY and CTA.
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Drawdown Indicators
| SHY | CTA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.71% | -18.07% | +12.36% |
Max Drawdown (1Y)Largest decline over 1 year | -0.89% | -16.24% | +15.35% |
Max Drawdown (3Y)Largest decline over 3 years | -0.97% | -16.24% | +15.27% |
Max Drawdown (5Y)Largest decline over 5 years | -5.71% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -5.71% | — | — |
Current DrawdownCurrent decline from peak | -0.28% | -16.18% | +15.90% |
Average DrawdownAverage peak-to-trough decline | -0.52% | -5.75% | +5.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 4.91% | -4.68% |
Volatility
SHY vs. CTA - Volatility Comparison
The current volatility for iShares 1-3 Year Treasury Bond ETF (SHY) is 0.50%, while Simplify Managed Futures Strategy ETF (CTA) has a volatility of 5.84%. This indicates that SHY 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.
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Volatility by Period
| SHY | CTA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 5.84% | -5.34% |
Volatility (6M)Calculated over the trailing 6-month period | 1.00% | 17.72% | -16.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.37% | 20.36% | -18.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.99% | 16.62% | -14.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.57% | 16.62% | -15.05% |
SHY vs. CTA - Expense Ratio Comparison
SHY has a 0.15% expense ratio, which is lower than CTA's 0.78% expense ratio.
Dividends
SHY vs. CTA - Dividend Comparison
SHY's dividend yield for the trailing twelve months is around 3.68%, less than CTA's 5.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CTA Simplify Managed Futures Strategy ETF | 5.33% | 3.19% | 4.80% | 7.78% | 6.58% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHY iShares 1-3 Year Treasury Bond ETF | 3.68% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
Frequently Asked Questions
SHY 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.
CTA has higher volatility (5.84%) compared to SHY (0.50%). In terms of maximum drawdown, SHY dropped -5.71% vs CTA's -18.07%.
On 3-year performance, CTA leads with 8.43% vs 4.11% for SHY. On fees, SHY is cheaper at 0.15% per year. On volatility, SHY has been the lower-risk option at 0.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CTA has performed better with a 8.43% return vs 4.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHY is cheaper with a 0.15% expense ratio, compared with 0.78% for CTA.
CTA has the higher dividend yield at 5.33%, compared with 3.68% for SHY.
SHY is categorized as Government Bonds, while CTA is Systematic Trend. They also come from different issuers: iShares and Simplify. Their fees differ too: 0.15% for SHY and 0.78% for CTA.
SHY currently has the higher Sharpe Ratio (2.28 vs 0.15), 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.
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