PIM vs CTAP

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

PIM vs CTAP - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

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

Net Assets

PIM

$163M

Winner

CTAP

$163M

Expense Ratio

PIM

N/A

CTAP

0.10%

Max Drawdown

PIM

57.86%

Winner

CTAP

21.39%

Sharpe Ratio

PIM

-0.03

Winner

CTAP

0.90

5Y Beta

Winner

PIM

0.18

CTAP

0.57

5Y Dividends CAGR

PIM

-4.59%

CTAP

N/A

PIM vs CTAP - Historical Returns

Returns include dividend reinvestment.

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

PIM

+1.65%

Winner

CTAP

+3.20%

PIM

+0.22%

Winner

CTAP

+0.43%

PIM

+0.72%

Winner

CTAP

+10.35%

PIM

+3.76%

CTAP

N/A

5Y(CAGR)

PIM

+2.65%

CTAP

N/A

10Y(CAGR)

PIM

+4.33%

CTAP

N/A

Max(CAGR)

PIM

+5.07%

Winner

CTAP

+24.93%

PIM vs CTAP - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

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

PIM vs CTAP Drawdown Comparison

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

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

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

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

Correlation

Correlation between PIM and CTAP 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)

PIM vs CTAP dividend yield comparison.

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