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Trending ETFs

Name

As of 05/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$23.08

$64.3 M

7.80%

$1.80

0.51%

Vitals

YTD Return

3.4%

1 yr return

10.8%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$64.3 M

Holdings in Top 10

99.8%

52 WEEK LOW AND HIGH

$23.1
$21.32
$23.34

Expenses

OPERATING FEES

Expense Ratio 0.51%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 05/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$23.08

$64.3 M

7.80%

$1.80

0.51%

CDX - Profile

Distributions

  • YTD Total Return 3.4%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 7.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Simplify High Yield PLUS Credit Hedge ETF
  • Fund Family Name
    N/A
  • Inception Date
    Feb 15, 2022
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Paul Kim

Fund Description

Principal Investment Strategies: The adviser seeks to achieve the Fund’s investment objective by investing in high yield bonds also known as “junk bonds” primarily by purchasing swaps on exchange traded funds and applying a credit hedge derivatives strategy to the Fund’s investments.

High Yield Strategy

The Fund has adopted a non-fundamental investment policy that, under normal circumstances, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in securities that provide exposure to high yield securities, also known as junk bonds. The Fund defines junk bonds as those rated below Baa3 by Moody’s Investors Service or below BBB- by Standard and Poor’s Rating Group, or, if unrated, determined by the adviser to be of similar credit quality. The adviser does not frequently trade securities but seeks to maintain consistent exposure to junk bonds through its purchase of swaps on exchange traded funds that primarily invest in high-yield securities. The adviser determines the securities to which it seeks exposure based on factors such as price, liquidity, and track record.

The exchange traded funds underlying the swaps that the Fund will invest in may target high yield bonds with different maturities, durations, and quality requirements in connection with their investment strategies. Duration is a measure of price sensitivity of a debt security or a portfolio of debt securities to relative changes in interest rates. For instance, a duration of “five years” means that a security’s or portfolio’s price would be expected to decrease by approximately 5% with a 1% increase in interest rates (assuming a parallel shift in yield curve). Maturity is the period during which its owner will receive interest payments on the investment. When the bond reaches maturity, the Fund is repaid its par, or face value. A bond’s quality is a reference to the grade given to a bond by a rating service that indicates its credit quality. The rating takes into consideration a bond issuer’s financial strength or its ability to pay a bond’s principal and interest in a timely fashion. For instance, a “AAA” high-grade rated bond offers more security and lower profit potential (lower yield) than a “B-” rated speculative bond.

Credit Hedge Strategy

The Fund may invest up to 20% of the Fund’s portfolio in derivatives. The derivatives overlay consists of purchasing exchange-traded and over-the-counter (“OTC”) put and call options on the equity or fixed income index or equity or fixed income ETFs and by purchasing total return swaps. When the Fund purchases a call option, the Fund has the right, but not the obligation, to buy a stock or other asset at a specified price (strike price) within a specific time period. When the Fund purchases a put option, the Fund has the right, but not the obligation, to sell a stock or other asset at a specified price (strike price) within a specific time period. The Fund will invest in total return swaps that use fixed income instruments or fixed income indexes or ETFs as reference assets, and equity indexes or equity ETFs.

The adviser selects derivatives based upon its evaluation of relative value based on cost, strike price (price that the option can be bought or sold by the option holder) and maturity (the last date the option contract is valid) and will exercise or close the options based typically on maturity. The adviser anticipates purchasing and selling its derivatives on a monthly, quarterly, and annual basis, depending upon the Fund’s rebalancing requirements and expiration dates. However, the adviser may rebalance the Fund’s derivative portfolio on a more frequent basis for a number of reasons such as when market volatility renders the protection provided by the derivative strategy ineffective or a derivative position has appreciated to the point that it is prudent to decrease the Fund’s exposure and realize gains for the Fund’s shareholders. While the use of derivatives is intended to improve the Fund’s performance, there is no guarantee that it will do so.

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CDX - Performance

Return Ranking - Trailing

Period CDX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -39.9% 6.2% N/A
1 Yr 10.8% -22.1% 21.3% N/A
3 Yr N/A* -14.2% 66.8% N/A
5 Yr N/A* -13.6% 37.2% N/A
10 Yr N/A* -9.3% 16.2% N/A

* Annualized

Return Ranking - Calendar

Period CDX Return Category Return Low Category Return High Rank in Category (%)
2023 6.7% -44.3% 3.7% N/A
2022 N/A -56.9% 9.2% N/A
2021 N/A -53.7% 70.9% N/A
2020 N/A -33.7% 5.1% N/A
2019 N/A -9.4% 12.0% N/A

Total Return Ranking - Trailing

Period CDX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -39.9% 6.2% N/A
1 Yr 10.8% -22.1% 22.2% N/A
3 Yr N/A* -14.2% 66.8% N/A
5 Yr N/A* -13.6% 37.2% N/A
10 Yr N/A* -9.3% 16.2% N/A

* Annualized

Total Return Ranking - Calendar

Period CDX Return Category Return Low Category Return High Rank in Category (%)
2023 12.7% -44.3% 3.7% N/A
2022 N/A -56.9% 9.2% N/A
2021 N/A -53.7% 70.9% N/A
2020 N/A -33.7% 5.1% N/A
2019 N/A -9.4% 12.0% N/A

CDX - Holdings

Concentration Analysis

CDX Category Low Category High CDX % Rank
Net Assets 64.3 M 1.47 M 26.2 B 93.37%
Number of Holdings 11 2 2736 97.63%
Net Assets in Top 10 58 M -492 M 2.55 B 72.50%
Weighting of Top 10 99.77% 3.0% 100.0% N/A

Top 10 Holdings

  1. United States Treasury Bill 50.34%
  2. United States Treasury Bill 48.61%
  3. TRS HYG BASKET 0.46%
  4. TRS MSSIQUA1A INDEX 0.34%
  5. SP 500 INDEX 0.04%
  6. SP 500 INDEX 0.01%
  7. SP 500 INDEX 0.00%
  8. SP 500 INDEX 0.00%
  9. SP 500 INDEX -0.01%
  10. SP 500 INDEX -0.03%

Asset Allocation

Weighting Return Low Return High CDX % Rank
Bonds
98.95% 0.00% 154.38% 99.87%
Cash
0.74% -52.00% 100.00% 0.26%
Other
0.30% -63.70% 32.06% 99.34%
Stocks
0.00% -0.60% 52.82% 34.08%
Preferred Stocks
0.00% 0.00% 14.10% 99.74%
Convertible Bonds
0.00% 0.00% 17.89% 99.87%

Bond Sector Breakdown

Weighting Return Low Return High CDX % Rank
Derivative
0.30% 0.00% 45.95% 99.60%
Cash & Equivalents
0.00% 0.00% 99.98% 1.84%
Securitized
0.00% 0.00% 97.24% 99.87%
Corporate
0.00% 0.00% 100.00% 95.13%
Municipal
0.00% 0.00% 1.17% 99.60%
Government
0.00% 0.00% 99.07% 99.60%

Bond Geographic Breakdown

Weighting Return Low Return High CDX % Rank
US
98.95% 0.00% 150.64% 99.74%
Non US
0.00% 0.00% 96.17% 98.55%

CDX - Expenses

Operational Fees

CDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.51% 0.02% 3.87% 84.65%
Management Fee 0.50% 0.00% 1.84% 36.89%
12b-1 Fee N/A 0.00% 1.00% 9.46%
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

CDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

CDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

CDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 1.00% 327.00% N/A

CDX - Distributions

Dividend Yield Analysis

CDX Category Low Category High CDX % Rank
Dividend Yield 7.80% 0.00% 39.36% 87.70%

Dividend Distribution Analysis

CDX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

CDX Category Low Category High CDX % Rank
Net Income Ratio N/A -2.39% 14.30% N/A

Capital Gain Distribution Analysis

CDX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

CDX - Fund Manager Analysis

Managers

Paul Kim


Start Date

Tenure

Tenure Rank

Feb 14, 2022

0.29

0.3%

Paul S. Kim has been with PGI since 2015. Previously, he was a senior vice president at PIMCO from 2009-2015. He earned a bachelor’s degree in Economics from Dartmouth College and an M.B.A. in Finance from The Wharton School at the University of Pennsylvania. Mr. Kim has earned the right to use the Chartered Financial Analyst designation.

Michael Green


Start Date

Tenure

Tenure Rank

Feb 14, 2022

0.29

0.3%

Michael Green is the managing director and chief strategist of Simplify Asset Management Inc. Prior to joining Simplify Asset, Michael served as partner, chief strategist and portfolio manager of Logica Capital Advisers, LLC, a Los Angeles-based hedge fund focused on derivative strategies from 2020 to 2021. Prior to Logica, Michael was portfolio manager for Thiel Macro, LLC, an investment firm that manages the personal capital of Peter Thiel from 2016 to 2019. Prior to Thiel, Michael founded Ice Farm Capital, a discretionary global macro hedge fund seeded by Soros Family Management.

David Berns


Start Date

Tenure

Tenure Rank

Feb 14, 2022

0.29

0.3%

David Berns, PhD, is the chief investment officer and co-founder of the Simplify Asset Management Inc. Prior to co-founding the Simplify Asset Management in 2020, he founded Portfolio Designer, LLC, a company that specializes in portfolio design and from 2018 to 2019 was a managing director at Nasdaq Dorsey Wright. Prior to joining Nasdaq Dorsey Wright, Inc., he founded and developed a company that specializes in proprietary trading. He has specialized in developing asset allocation, portfolio management, and risk management systems for managing private and institutional wealth. Mr. Berns has a PhD in Physics from the Massachusetts Institute of Technology in the field of Quantum Computation.

Harley Bassman


Start Date

Tenure

Tenure Rank

Feb 14, 2022

0.29

0.3%

Harley Bassman is a managing partner of the Adviser. In 2017, he founded and served as the chief investment officer for the Bassman Family Office and served as the editor for Convexity Maven, a macro-economic commentary. From 2014 to 2017, he was an executive vice-president at PIMCO, where he was responsible for PIMCO’s liquid alternatives and macro investment strategy.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.07 2.92