CTAP vs PIM

Comparison between Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP, ETF) and Putnam Master Intermediate Income Trust (PIM, ETF).

CTAP vs PIM - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	CTAP(ETF)	PIM(ETF)
Net Assets	$163M	$163M
Expense Ratio	0.10%	N/A
Max Drawdown	21.39%	57.86%
Sharpe Ratio	0.90	-0.03
5Y Beta	0.57	0.18
5Y Dividends CAGR	N/A	-4.59%

Net Assets

Winner

CTAP

$163M

PIM

$163M

Expense Ratio

CTAP

0.10%

PIM

N/A

Max Drawdown

Winner

CTAP

21.39%

PIM

57.86%

Sharpe Ratio

Winner

CTAP

0.90

PIM

-0.03

5Y Beta

CTAP

0.57

Winner

PIM

0.18

5Y Dividends CAGR

CTAP

N/A

PIM

-4.59%

CTAP vs PIM - Historical Returns

Returns include dividend reinvestment.

Period	CTAP	PIM
1 month	+3.20%	+1.65%
3 months	+0.43%	+0.22%
6 months	+10.35%	+0.72%
1 year	N/A	+3.76%
5 years(CAGR)	N/A	+2.65%
10 years(CAGR)	N/A	+4.33%
Max(CAGR)	+24.93%	+5.07%

Winner

CTAP

+3.20%

PIM

+1.65%

Winner

CTAP

+0.43%

PIM

+0.22%

Winner

CTAP

+10.35%

PIM

+0.72%

CTAP

N/A

PIM

+3.76%

5Y(CAGR)

CTAP

N/A

PIM

+2.65%

10Y(CAGR)

CTAP

N/A

PIM

+4.33%

Max(CAGR)

Winner

CTAP

+24.93%

PIM

+5.07%

CTAP vs PIM - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	CTAP	PIM
2026	+12.24%	+0.27%
2025	+2.44%	+10.23%
2024	N/A	+10.15%
2023	N/A	+7.10%
2022	N/A	-11.58%
2021	N/A	+1.00%
2020	N/A	-3.73%
2019	N/A	+19.57%
2018	N/A	-5.87%
2017	N/A	+10.79%
2016	N/A	+10.02%
2015	N/A	-0.98%
2014	N/A	+1.51%
2013	N/A	+4.52%
2012	N/A	+6.90%
2011	N/A	-5.61%
2010	N/A	+4.74%
2009	N/A	+74.09%
2008	N/A	-30.23%
2007	N/A	+4.03%
2006	N/A	+12.30%
2005	N/A	-1.22%
2004	N/A	+6.37%
2003	N/A	+16.46%
2002	N/A	+11.36%
2001	N/A	+6.11%
2000	N/A	+5.38%
1999	N/A	-9.52%

CTAP vs PIM Drawdown Comparison

The maximum drawdown for CTAP was -20.49%, occurring on Jun 26, 2026. This drawdown has not yet recovered.

The maximum drawdown for PIM was -43.29%, occurring on Dec 9, 2008. Recovery took 303 trading sessions.

The current CTAP drawdown is -12.35%. The current PIM drawdown is -2.22%.

Rank	CTAP	PIM
#1	-20.49% May 14, 2026 - Jun 26, 2026	-43.29% May 21, 2008 - Aug 4, 2009
#2	-9.02% Mar 2, 2026 - Apr 22, 2026	-28.13% Feb 7, 2020 - Sep 18, 2024
#3	-6.04% Jan 29, 2026 - Feb 18, 2026	-21.58% Jun 6, 2011 - Jun 23, 2014
#4	-4.04% Jan 14, 2026 - Jan 26, 2026	-14.81% Nov 2, 1999 - Jan 10, 2001
#5	-3.61% May 4, 2026 - May 12, 2026	-13.57% Mar 22, 2010 - Jun 28, 2010
#6	-3.02% Dec 26, 2025 - Jan 9, 2026	-13.02% Nov 9, 2010 - May 31, 2011
#7	-1.70% Dec 11, 2025 - Dec 19, 2025	-12.75% Jun 23, 2014 - Aug 15, 2016
#8	-1.14% Apr 30, 2026 - May 4, 2026	-10.86% Jun 7, 2001 - Jan 22, 2002
#9	-0.68% Jan 12, 2026 - Jan 14, 2026	-10.28% May 3, 2018 - Mar 29, 2019
#10	-0.38% Feb 20, 2026 - Feb 24, 2026	-9.45% Mar 30, 2004 - Aug 31, 2004
#11	-0.34% May 12, 2026 - May 14, 2026	-9.32% Jun 14, 2002 - Sep 5, 2002
#12	-0.07% Feb 25, 2026 - Feb 27, 2026	-7.31% Jul 6, 2005 - Aug 17, 2006
#13	-0.03% Dec 23, 2025 - Dec 26, 2025	-7.26% Jul 3, 2007 - Dec 26, 2007
#14	N/A	-7.07% Jan 3, 2008 - May 5, 2008
#15	N/A	-6.45% Sep 12, 2025 - Dec 17, 2025

Correlation

Correlation between CTAP and PIM is -0.44 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.44

-101

Dividend Comparison (2000 - 2026)

CTAP vs PIM dividend yield comparison.

Year	CTAP	PIM
2026	1.78%	4.12%
2025	0.00%	7.90%
2024	0.00%	8.10%
2023	0.00%	8.28%
2022	0.00%	8.25%
2021	0.00%	6.68%
2020	0.00%	8.32%
2019	0.00%	7.59%
2018	0.00%	6.82%
2017	0.00%	6.54%
2016	0.00%	6.77%
2015	0.00%	6.86%
2014	0.00%	6.49%
2013	0.00%	6.19%
2012	0.00%	6.52%
2011	0.00%	7.99%
2010	0.00%	10.64%
2009	0.00%	16.67%
2008	0.00%	12.22%
2007	0.00%	6.25%
2006	0.00%	5.42%
2005	0.00%	6.69%
2004	0.00%	6.81%
2003	0.00%	7.45%
2002	0.00%	8.79%
2001	0.00%	9.67%
2000	0.00%	4.28%