TUA vs. CTA
TUA (Simplify Short Term Treasury Futures Strategy ETF) and CTA (Simplify Managed Futures Strategy ETF) are both exchange-traded funds - TUA is a Intermediate Core Bond fund actively managed by Simplify, while CTA is a Systematic Trend fund actively managed by Simplify. Both are actively managed. Over the past 3 years, TUA returned 0.23%/yr vs 8.61%/yr for CTA. At a correlation of -0.38, they often move in opposite directions. TUA charges 0.16%/yr vs 0.78%/yr for CTA.
Performance
TUA vs. CTA - Performance Comparison
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Returns By Period
In the year-to-date period, TUA achieves a -5.79% return, which is significantly lower than CTA's 1.50% return.
TUA
- 1D
- 0.84%
- 1M
- -0.58%
- 6M
- -5.35%
- YTD
- -5.79%
- 1Y
- -2.75%
- 3Y*
- 0.23%
- 5Y*
- —
- 10Y*
- —
CTA
- 1D
- 1.17%
- 1M
- -4.34%
- 6M
- -1.08%
- YTD
- 1.50%
- 1Y
- 2.35%
- 3Y*
- 8.61%
- 5Y*
- —
- 10Y*
- —
TUA vs. CTA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TUA Simplify Short Term Treasury Futures Strategy ETF | -5.79% | 7.27% | -3.59% | -2.04% | -0.83% |
CTA Simplify Managed Futures Strategy ETF | 1.50% | 0.88% | 24.15% | -2.23% | -4.31% |
Correlation
The correlation between TUA and CTA is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.34 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2022 | -0.38 |
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Return for Risk
TUA vs. CTA — Risk / Return Rank
TUA
CTA
TUA vs. CTA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Short Term Treasury Futures Strategy ETF (TUA) 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.
| TUA | CTA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.04 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 0.12 | -0.49 |
| Martin ratioReturn relative to average drawdown | -0.84 | 0.34 | -1.19 |
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Drawdowns
TUA vs. CTA - Drawdown Comparison
The maximum TUA drawdown since its inception was -15.85%, smaller than the maximum CTA drawdown of -20.44%. Use the drawdown chart below to compare losses from any high point for TUA and CTA.
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Drawdown Indicators
| TUA | CTA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -20.44% | +4.59% |
Max Drawdown (1Y)Largest decline over 1 year | -7.37% | -20.44% | +13.07% |
Max Drawdown (3Y)Largest decline over 3 years | -9.14% | -20.44% | +11.30% |
Current DrawdownCurrent decline from peak | -10.44% | -16.72% | +6.28% |
Average DrawdownAverage peak-to-trough decline | -8.42% | -5.94% | -2.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 6.84% | -3.58% |
Volatility
TUA vs. CTA - Volatility Comparison
The current volatility for Simplify Short Term Treasury Futures Strategy ETF (TUA) is 2.55%, while Simplify Managed Futures Strategy ETF (CTA) has a volatility of 5.15%. This indicates that TUA 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
| TUA | CTA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.55% | 5.15% | -2.60% |
Volatility (6M)Calculated over the trailing 6-month period | 5.49% | 17.94% | -12.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.06% | 20.60% | -13.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.71% | 16.63% | -5.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.71% | 16.63% | -5.92% |
TUA vs. CTA - Expense Ratio Comparison
TUA has a 0.16% expense ratio, which is lower than CTA's 0.78% expense ratio.
Dividends
TUA vs. CTA - Dividend Comparison
TUA's dividend yield for the trailing twelve months is around 3.33%, less than CTA's 4.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CTA Simplify Managed Futures Strategy ETF | 4.95% | 3.19% | 4.80% | 7.78% | 6.58% |
TUA Simplify Short Term Treasury Futures Strategy ETF | 3.33% | 3.84% | 5.19% | 4.83% | 0.15% |
Frequently Asked Questions
TUA and CTA have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CTA has higher volatility (5.15%) compared to TUA (2.55%). In terms of maximum drawdown, TUA dropped -15.85% vs CTA's -20.44%.
On 3-year performance, CTA leads with 8.61% vs 0.23% for TUA. On fees, TUA is cheaper at 0.16% per year. On volatility, TUA has been the lower-risk option at 2.55%. 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 8.61% return vs 0.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TUA is cheaper with a 0.16% expense ratio, compared with 0.78% for CTA.
CTA has the higher dividend yield at 4.95%, compared with 3.33% for TUA.
TUA is categorized as Intermediate Core Bond, while CTA is Systematic Trend. Their fees differ too: 0.16% for TUA and 0.78% for CTA.
CTA currently has the higher Sharpe Ratio (0.11 vs -0.39), 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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