SPBC vs. CTA

Last updated Apr 1, 2026

Compare and contrast key facts about Simplify US Equity PLUS GBTC ETF (SPBC) and Simplify Managed Futures Strategy ETF (CTA).

SPBC and CTA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPBC is an actively managed fund by Simplify. It was launched on May 24, 2021. CTA is an actively managed fund by Simplify. It was launched on Mar 7, 2022.

Performance

SPBC vs. CTA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify US Equity PLUS GBTC ETF (SPBC) and Simplify Managed Futures Strategy ETF (CTA). The values are adjusted to include any dividend payments, if applicable.

SPBC vs. CTA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SPBC Simplify US Equity PLUS GBTC ETF	-6.79%	16.83%	37.32%	48.04%	-17.00%
CTA Simplify Managed Futures Strategy ETF	12.39%	0.88%	24.15%	-2.23%	9.55%

Returns By Period

In the year-to-date period, SPBC achieves a -6.79% return, which is significantly lower than CTA's 12.39% return.

SPBC

• 1D: 3.13%
• 1M: -4.69%
• YTD: -6.79%
• 6M: -6.85%
• 1Y: 15.60%
• 3Y*: 23.43%
• 5Y*: —
• 10Y*: —

CTA

• 1D: -1.31%
• 1M: 0.45%
• YTD: 12.39%
• 6M: 10.76%
• 1Y: 6.40%
• 3Y*: 15.19%
• 5Y*: —
• 10Y*: —

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

SPBC vs. CTA - Expense Ratio Comparison

SPBC has a 0.50% expense ratio, which is lower than CTA's 0.78% expense ratio.

CTA

Simplify Managed Futures Strategy ETF

SPBC

Simplify US Equity PLUS GBTC ETF

Return for Risk

SPBC vs. CTA — Risk / Return Rank

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

SPBC

SPBC Risk / Return Rank: 47
SPBC Sharpe Ratio Rank: 44
SPBC Sortino Ratio Rank: 47
SPBC Omega Ratio Rank: 46
SPBC Calmar Ratio Rank: 50
SPBC Martin Ratio Rank: 48

CTA

CTA Risk / Return Rank: 25
CTA Sharpe Ratio Rank: 25
CTA Sortino Ratio Rank: 24
CTA Omega Ratio Rank: 23
CTA Calmar Ratio Rank: 29
CTA Martin Ratio Rank: 21

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.

SPBC vs. CTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS GBTC ETF (SPBC) 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.

	SPBC	CTA	Difference
Sharpe ratio Return per unit of total volatility	0.77	0.40	+0.37
Sortino ratio Return per unit of downside risk	1.24	0.63	+0.61
Omega ratio Gain probability vs. loss probability	1.17	1.08	+0.09
Calmar ratio Return relative to maximum drawdown	1.20	0.66	+0.55
Martin ratio Return relative to average drawdown	4.37	1.14	+3.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPBC vs. CTA - Sharpe Ratio Comparison

The current SPBC Sharpe Ratio is 0.77, which is higher than the CTA Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of SPBC and CTA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SPBC	CTA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.77	0.40	+0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.69	-0.04

Correlation

The correlation between SPBC and CTA is -0.07. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

SPBC vs. CTA - Dividend Comparison

SPBC's dividend yield for the trailing twelve months is around 0.96%, less than CTA's 3.81% yield.

	TTM	2025	2024	2023	2022	2021
SPBC Simplify US Equity PLUS GBTC ETF	0.96%	0.85%	0.98%	3.79%	0.60%	1.41%
CTA Simplify Managed Futures Strategy ETF	3.81%	3.19%	4.80%	7.78%	6.58%	0.00%

Drawdowns

SPBC vs. CTA - Drawdown Comparison

The maximum SPBC drawdown since its inception was -33.99%, which is greater than CTA's maximum drawdown of -18.07%. Use the drawdown chart below to compare losses from any high point for SPBC and CTA.

Drawdown Indicators

	SPBC	CTA	Difference
Max Drawdown Largest peak-to-trough decline	-33.99%	-18.07%	-15.92%
Max Drawdown (1Y) Largest decline over 1 year	-13.16%	-10.68%	-2.48%
Current Drawdown Current decline from peak	-9.50%	-1.47%	-8.03%
Average Drawdown Average peak-to-trough decline	-8.89%	-5.74%	-3.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.62%	6.16%	-2.54%

Volatility

SPBC vs. CTA - Volatility Comparison

The current volatility for Simplify US Equity PLUS GBTC ETF (SPBC) is 6.14%, while Simplify Managed Futures Strategy ETF (CTA) has a volatility of 8.10%. This indicates that SPBC 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

	SPBC	CTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.14%	8.10%	-1.96%
Volatility (6M) Calculated over the trailing 6-month period	11.68%	12.72%	-1.04%
Volatility (1Y) Calculated over the trailing 1-year period	20.28%	16.05%	+4.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.59%	15.58%	+5.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.59%	15.58%	+5.01%