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CTAP

GradeBNew York Stock Exchange Arca

Simplify US Equity PLUS Managed Futures Strategy ETF

Multi-Asset & Alternatives · Simplify · Inception 2025-12-08 · SEC filings

$30.50+0.11 (+0.36%)

As of Sep 23, 2026, 2:16 PM EDT

History starts Dec 10, 2025.History starts Dec 10, 2025.
Intraday session: up, 15 prints from 30.39 to 30.50. Range 30.47 to 30.69. Use the arrow keys to read each point.$30.60$30.7010 AM12 PM2 PM4 PM
Expense ratio
0.28%
Fund size
$149M
1Y return
—
Yield · Last 12 months
Data unavailable
Volume · 30D
0.1M sh
NAV per share
$30.48
52W range
low $24.80high $33.64

The ETF.net CTAP Grade

B

61/ 100

Rank 6 of 19 in Capital-Efficient Allocation⁠

Confidence Medium

Six-pillar profile for CTAP. Scores out of 100: Cost 78, Risk 42, Mission not scored, Tradability 71, Holdings 31, Durability 58. Strongest: Cost (78). Weakest: Holdings (31). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 61 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 78
    Category rank5/19 · top 26%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 42
    Category rank13/18 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 71
    Category rank5/19 · top 26%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 31
    Category rank11/13 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 58
    Category rank9/19 · top 47%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on CTAP

ETF.net Research

BTwo jobs, one ticker: CTAP runs an actively managed US large-cap stock sleeve alongside a managed futures program, and charges 0.28% a year, well under the typical fund in its allocation peer group.

Stated mandate

The fund seeks long-term capital appreciation through two actively managed strategies: US large-cap equities and managed futures.

Why people hold it

  1. 01At 0.28% a year, it undercuts the typical fund in its multi-asset allocation cohort by a wide margin.
  2. 02One wrapper, two active engines: US large-cap equities plus managed futures, so the diversifying sleeve is built in rather than something you bolt on yourself.
  3. 03The managed futures leg references Simplify's own standalone managed futures fund (CTA), not a strategy invented for this launch.simplify.us
  4. 04Same stock-plus-a-second-sleeve neighborhood as NTSX and GDE, but here the companion exposure is managed futures rather than gold.

Worth knowing

  1. 01Launched in December 2025, so the history is short and there is little record of how the two sleeves behave together across full market cycles.
  2. 02Both sleeves are actively managed against no published index, so what you own rests on the managers' positioning rather than a rulebook you can look up.
  3. 03Trading is moderate rather than heavy, so bid-ask spreads can run wider than in the largest allocation ETFs.

CTAP Holdings

As of Sep 20, 2026, 5:08 AM
Asset class
Other
Holdings
—
Top-10 weight
231%
Largest holding
TRS CTA SOFR +93 030827 BULLET44.3%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—TRS CTA SOFR +93 030827 BULLET44.31%2,220,000$67M1
002—B 1/28/27 Govt37.10%56,550,000$56M31
003—B 10/29/26 Govt28.90%43,600,000$43M17
004—TRS SPUC SOFR +93 083127 BULLET27.76%850,000$42M1
005—TRS SPUC SOFR +100 082427 BULLET27.76%850,000$42M1
006—TRS SPUC SOFR +105 081727 BULLET19.60%600,000$29M1
007—TRS CTA SOFR +100 082427 BULLET14.97%750,000$22M1
008—B 9/29/26 Govt11.01%16,550,000$17M14
009—TRS SPUC OBFR +125 082727 BULLET9.80%300,000$15M2
010—TRS CTA SOFR +100 050727 BULLET9.48%475,000$14M1
011—TRS SPUC SOFR +105 081727 BULLET8.17%250,000$12M1
012—TRS CTA SOFR +93 083127 BULLET6.49%325,000$10M1
013—B 10/15/26 Govt5.55%8,360,000$8M27
014—TRS CTA SOFR +85 050727 BULLET4.99%250,000$7M1
015—B 12/31/26 Govt4.18%6,350,000$6M27

Showing 1–15 of 39 holdings

CTAP Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

CTAP$12,090
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. CTAP $12,090. SPY $11,430. Use the arrow keys to read each point.$9,016$11,028$13,041Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for CTAP. Periods over one year show the average yearly return.
PeriodCTAP
Year to date+20.9%
1 month+2.9%
3 months+11.5%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for CTAP
YearReturn barCTAP
2026 YTD+20.9%
2025+1.7%

History from Dec 10, 2025

CTAP in the news

CTAP Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.30 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 2 payments in 2026 YTD. Mar 26, 2026 $0.20; Jun 25, 2026 $0.30. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Jun 25, 2026Jun 30, 2026$0.30
Mar 26, 2026Mar 31, 2026$0.20

CTAP Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Dec 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.35
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

CTAP Cost

Expense ratio0.28%
  • The middle half of Capital-Efficient Allocation funds
  • Median 0.67%

4 of the 19 Capital-Efficient Allocation funds charge less.

CTAP costs $28.00 a year on $10,000. The median Capital-Efficient Allocation fund costs $67.00.