ETF Evaluator:
Simplify US Eq PLUS Mgd Futs Stgy ETF ()
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(as of Aug 26)
Best Performing in Large Blend Over the Last Year
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| 33.9% | Impact Shares NAACP Minority Empwrmt ETF (NACP) |
| 31.8% | Astoria US Equal Weight Quality KingsETF (ROE) |
| 30.5% | FIS Bright Portfolios Focused Equity ETF (BRIF) |
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ETF Details
Simplify US Eq PLUS Mgd Futs Stgy ETF Overview
Simplify US Eq PLUS Mgd Futs Stgy ETF (CTAP) is an actively managed U.S. Equity Large Blend exchange-traded fund (ETF). Simplify Asset Management launched the ETF in 2025.
The investment seeks long-term capital appreciation.
The fund is an actively managed exchange-traded fund (“ETF”). The fund’s investment adviser, Simplify Asset Management Inc. (the “adviser”) seeks to achieve the fund’s investment objective by employing two principal strategies U.S. Equity Strategy and Managed Futures Strategy. The fund uses derivatives to overlay the Managed Futures Strategy on top of the U.S. Equity Strategy such that for each one dollar invested, the fund has one dollar of U.S. equity exposure and one dollar of CTA futures exposure. The fund is non-diversified.
About Simplify US Eq PLUS Mgd Futs Stgy ETF (CTAP)
There are 3 members of the management team with an average tenure of 0.64 years: Paisley Nardini (2025), Ken Miller (2025) and David Berns (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
Simplify US Eq PLUS Mgd Futs Stgy ETF has 22 securities in its portfolio. The top 10 holdings constitute 269.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Simplify US Eq PLUS Mgd Futs Stgy ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Simplify US Eq PLUS Mgd Futs Stgy ETF has -71.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 84.5% There is -0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is -61.9% (9.4% domestic bond, -71.2% foreign bond and 0.0% convertible bond). Simplify US Eq PLUS Mgd Futs Stgy ETF has 65.7% of the portfolio in cash.
Assets Under Management
The fund has $124 million in total assets, which is below the $13 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
CTAP Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Simplify US Eq PLUS Mgd Futs Stgy ETF expense ratio is low compared to funds in the Large Blend category. Simplify US Eq PLUS Mgd Futs Stgy ETF has an expense ratio of 0.10%, which is 76% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Simplify US Eq PLUS Mgd Futs Stgy ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 158% for the Large Blend category.
Recently, in the month of July 2026, Simplify US Eq PLUS Mgd Futs Stgy ETF returned 4.6%, which earned it a grade of A, as the Large Blend category had an average return of -0.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Simplify US Eq PLUS Mgd Futs Stgy ETF has a trailing yield of 0.00%, which is below the 1.16% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Simplify US Eq PLUS Mgd Futs Stgy ETF Grades
Year to date, the ETF has returned 10.1%, 0.5 percentage points better than the category, which translates into a grade of C.
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CTAP Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CTAP Return (NAV) | 4.6% | -12.4% | na | na | na | na |
| CTAP Return (Price) | 3.6% | -13.4% | na | na | na | na |
| NAV +/- Price Return | 1.012% | 1.019% | na | na | na | na |
| Large Blend Avg | -0.8% | 3.7% | 17.5% | 17.4% | 11.2% | 13.6% |
| CTAP Grade (NAV) | A | F | na | na | na | na |
| +/- Category (NAV) | 5.5% | -16.1% | na | na | na | na |
| CTAP Tax-Cost Ratio | na | na | na | na | na | na |
CTAP Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CTAP Return (NAV) | 10.1% | na | na | na | na | na | na | na | na | na | na |
| CTAP Return (Price) | 8.9% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.117% | na | na | na | na | na | na | na | na | na | na |
| Large Blend Avg | 9.5% | 15.3% | 21.9% | 22.9% | -17.1% | 26.9% | 18.3% | 29.6% | -5.1% | 21.5% | 11.4% |
| CTAP Grade (NAV) | C | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 0.5% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 124 Mil |
| Share Class Assets: | $ 124 Mil |
| Turnover: | na |
| Expense Ratio: | 0.10% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 0.6 years | |||
| Average Tenure: 0.6 years | |||
| Managers (Year): Nardini Paisley (2025), Miller Ken (2025), Berns David (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 22 |
| % in Top 10 Holdings: | 269.3% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | -71.2% |
Portfolio Allocation |
|
| Domestic Stock: | 84.5% |
| Foreign Stock: | -0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 9.4% |
| Foreign Bond: | -71.2% |
| Convertible Bond: | 0.0% |
| Other: | 11.7% |
| Cash: | 65.7% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Simplify Asset Management |
| Phone Number: | 855-772-8488 |
| Website: | |
| Inception Date: | December 8, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.10% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.41% |
