Data as of .
CTA vs HOLD: which moved less with stocks?
Over the year to Sep 18, 2026, CTA moved less with the S&P 500 than HOLD: correlation −0.26 against +0.57.
ETFIQ Diversifier Score: CTA scores higher
How much does it diversify a stock portfolio?
A percentile among the 63 alternatives ETFs with a full year. It is a position in a set, not a rating, and neither end of it is a recommendation. All alternatives ETFs ranked by it · How it is computed
One strategy, two funds
CTA and HOLD both run a managed futures strategy. Over the same 52 weeks to Sep 18, 2026, CTA’s weekly returns had a correlation of −0.26 with the S&P 500 and HOLD’s +0.57. In the 22 weeks the index fell, by 1.24% a week on average, CTA averaged +0.97% and HOLD −0.49%. Over the same weeks, CTA finished 10.1 percentage points ahead of cash and HOLD finished 10.2 points ahead of cash.
Performance, window by window
| Window | Total return | vs the S&P 500 | ||
|---|---|---|---|---|
| CTA | HOLD | CTA | HOLD | |
| 3 months | +11.3% | −0.8% | +9.0 pts | −3.1 pts |
| 6 months | +1.2% | +8.9% | −16.9 pts | −9.1 pts |
| 1 year | +13.8% | +14.0% | −2.8 pts | −2.6 pts |
| 3 years | +31.9% | not published | −46.5 pts | not published |
| Since launch | +52.5% | +16.8% | −42.5 pts | −2.9 pts |
| CTA Simplify Managed Futures Strategy ETF Managed futures fund: follows price trends in futures on stocks, bonds, currencies and commodities, and can bet on falls as well as rises | HOLD Harbor Alpha Layering ETF Managed futures fund: follows price trends in futures on stocks, bonds, currencies and commodities, and can bet on falls as well as rises | |
|---|---|---|
| Issuer | Simplify | Harbor |
| Strategy | Managed futures | Managed futures |
| Correlation with the S&P 500 | −0.26 | +0.57 |
| Beta to the S&P 500 | −0.47 | +0.60 |
| Down-week capture | −78.5% | 39.5% |
| Average week when the S&P 500 fell | +0.97% | −0.49% |
| The S&P 500 in those weeks | −1.24% | −1.24% |
| Total return, same 52 weeks | +13.7% | +13.8% |
| Against T-bills, percentage points | +10.1 pts | +10.2 pts |
| Expense ratio | 0.75% | 0.70% |
| Listed | Mar 8, 2022 | Aug 14, 2025 |
| Net assets | $1.5bn | $8m |
CTA in plain words
CTA is a managed futures fund. ETFIQ measures what every alternatives fund is sold on: whether it moves differently from the stock market. Over the year to Sep 18, 2026, its weekly returns had a correlation of −0.26 with the S&P 500’s and a beta of −0.47, so for each 1% the index moved it moved about 0.47% the other way. The S&P 500 fell in 22 of those 52 weeks, by 1.24% on average. In the same weeks CTA rose 0.97% on average, a down-week capture of −78.5%. Over the same 52 weeks CTA returned +13.7% and a Treasury bill fund +3.6%, so it finished 10.1 percentage points ahead of cash.
HOLD in plain words
HOLD is a managed futures fund. Over the year to Sep 18, 2026, its weekly returns had a correlation of +0.57 with the S&P 500’s and a beta of +0.60, so for each 1% the index moved it moved about 0.60% the same way. In the same weeks HOLD fell 0.49% on average, a down-week capture of 39.5%. Over the same 52 weeks HOLD returned +13.8% and a Treasury bill fund +3.6%, so it finished 10.2 percentage points ahead of cash.
Questions people ask
- Which moved less with the S&P 500, CTA or HOLD?
- Over the 52 weeks to Sep 18, 2026, CTA’s weekly returns had a correlation of −0.26 with the S&P 500 and HOLD’s +0.57, so CTA moved less with the index.
- Which did better when the S&P 500 fell, CTA or HOLD?
- In the 22 weeks the S&P 500 fell, by 1.24% a week on average, CTA averaged +0.97% and HOLD −0.49%, so CTA returned more in those weeks.
- Which earned more than cash, CTA or HOLD?
- Over the same weeks, CTA finished 10.1 percentage points ahead of cash and HOLD finished 10.2 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.
- Which is cheaper, CTA or HOLD?
- CTA charges 0.75% a year and HOLD charges 0.70%, so HOLD is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, CTA against HOLD, data as of Sep 18, 2026. https://etfiq.com/compare/alternatives/cta-vs-hold Free to use with attribution; the underlying files are at Open data.