At the risk of pedantry, a CPL is NOT the same as an ND!
CPL is a circular polariser. It blocks light of a particular polarised plane (which you adjust by rotating the filter). Since light reflected from water etc has the same polarisation, a properly rotated CPL will block reflections. It will also deepen blue skies and give better defined clouds, although as the polarisation varies across the sky, you can get fading effects when shooting at wide focal lengths.
A secondary effect of a CPL is that they also block a little (about 1-2 stops depending on brand) of all light, and so act a little like a weak ND. But this is not the main reason why you use a CPL.
You get the same effects wearing polarised sunglasses...
A ND simply reduces all light entering the lens, to allow longer shutter
speeds. You won't get the fading effect across the sky on wide angle shots
as an ND doesn't do anything fancy with polarised light.