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Trending ETFs

Name

As of 05/20/2024

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

$0.51

$1.68 M

0.00%

1.64%

Vitals

YTD Return

-87.5%

1 yr return

-99.6%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$1.68 M

Holdings in Top 10

114.2%

52 WEEK LOW AND HIGH

$0.5
$0.04
$7.42

Expenses

OPERATING FEES

Expense Ratio 1.64%

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 05/20/2024

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

$0.51

$1.68 M

0.00%

1.64%

CYA - Profile

Distributions

  • YTD Total Return -87.5%
  • 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 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Simplify Tail Risk Strategy ETF
  • Fund Family Name
    N/A
  • Inception Date
    Sep 13, 2021
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Green

Fund Description

Principal Investment Strategies: The Fund is an actively managed, fund of funds exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing in fixed income and income generating ETFs. The term “fund of funds” is used to describe mutual funds and ETFs that pursue their investment objective by investing in other funds.

Income Strategy

The Fund invests in fixed income and income generating ETFs. The Fund will invest between 50-90% of the Fund’s assets in income generating ETFs and fixed income ETFs, including affiliated funds managed by the adviser. The Fund considers an ETF an income generating ETF if the ETF demonstrates an attractive distribution or income yield (i.e., a yield that is greater than 2 year Treasury notes), for example, ETFs that invest in REITs or MLPs or ETFs that seek to provide the inverse of the S&P 500 VIX Short-Term Futures Index. A REIT is a company that owns, operates, or finances income-generating real estate. An MLP is a business venture that exists in the form of a publicly traded limited partnership. The Fund defines fixed income ETFs as ETFs that invest in debt securities of any credit quality or maturity. Fixed income ETFs may invest in securities with credit quality below investment grade (commonly referred to 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 Fund invests in companies without restriction as to capitalization. Under normal circumstances the Fund may invest in shares of any fund in Simplify Exchange Traded Funds (the “Trust”), each an affiliated ETF.

Downside Mitigation Strategy

The Fund may invest up to 20% of the Fund’s portfolio in derivatives to hedge all or some of the downside risks associated with investing in equity securities commonly known as “tail risk”. Such derivatives may include puts and put spread options on ETFs (a put spread option strategy is when the adviser buys and sells an equal number of put options but with different strike prices), interest rate futures and options (derivatives that allow the buyer or seller to purchase or sell an interest bearing asset at a future date), credit default swap index options (options to buy or sell protection on a specific reference credit with a specific maturity), ETFs that invest in credit default swap index options, and over-the-counter foreign exchange (“FX”) futures and options (currency derivative contracts that obligate the buyer or seller to transact at a set price and predetermined time). The Fund may temporarily invest in cash equivalents, debt securities and volatility-related derivative contracts. For example, if equity market volatility is increasing, the Fund may invest in options linked to securities and market indices, including the VIX index which represents expected return volatility of the S&P 500 Index. The adviser believes its risk reduction strategies give it the flexibility to take advantage of opportunities that falling equity markets present. Nonetheless, if the adviser does not perceive appropriate opportunities, then the Fund may invest in cash equivalents. The adviser uses its tail risks hedging strategy to help protect against sudden market declines.

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 on maturity or portfolio rebalancing requirements. 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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CYA - Performance

Return Ranking - Trailing

Period CYA Return Category Return Low Category Return High Rank in Category (%)
YTD -87.5% -24.7% 108.5% 96.18%
1 Yr -99.6% -24.4% 116.0% N/A
3 Yr N/A* -7.8% 25.3% N/A
5 Yr N/A* -9.9% 22.9% N/A
10 Yr N/A* -5.4% 8.4% N/A

* Annualized

Return Ranking - Calendar

Period CYA Return Category Return Low Category Return High Rank in Category (%)
2023 -98.3% -39.0% 92.4% N/A
2022 -51.0% -6.1% 39.6% N/A
2021 N/A -21.9% 14.5% N/A
2020 N/A -15.9% 6.3% N/A
2019 N/A -12.6% 61.5% N/A

Total Return Ranking - Trailing

Period CYA Return Category Return Low Category Return High Rank in Category (%)
YTD -87.5% -24.7% 108.5% 98.95%
1 Yr -99.6% -24.4% 116.0% N/A
3 Yr N/A* -7.8% 25.3% N/A
5 Yr N/A* -9.9% 22.9% N/A
10 Yr N/A* -5.4% 10.6% N/A

* Annualized

Total Return Ranking - Calendar

Period CYA Return Category Return Low Category Return High Rank in Category (%)
2023 -98.1% -39.0% 92.4% N/A
2022 -46.1% -6.1% 39.6% N/A
2021 N/A -21.9% 14.5% N/A
2020 N/A -11.5% 6.3% N/A
2019 N/A -12.6% 61.5% N/A

CYA - Holdings

Concentration Analysis

CYA Category Low Category High CYA % Rank
Net Assets 1.68 M 658 K 207 B 84.58%
Number of Holdings 13 2 15351 86.12%
Net Assets in Top 10 2.46 M -6.38 M 48.5 B 71.72%
Weighting of Top 10 114.15% 8.4% 100.0% N/A

Top 10 Holdings

  1. SPDR Bloomberg 1-3 Month T-Bill ETF 79.80%
  2. SP 500 INDEX 13.78%
  3. FIDELITY INV MMTRSY 1 680 12.35%
  4. THE CBOE VOLATILITY INDEX 4.24%
  5. SP 500 INDEX 2.78%
  6. THREE-MONTH SOFR 0.35%
  7. SP 500 INDEX 0.32%
  8. Simplify Short Term Treasury Futures Strategy ETF 0.19%
  9. THREE-MONTH SOFR 0.17%
  10. Simplify Enhanced Income ETF 0.16%

Asset Allocation

Weighting Return Low Return High CYA % Rank
Stocks
92.52% 0.00% 99.40% 99.36%
Other
19.97% -6.69% 48.03% 0.13%
Preferred Stocks
0.00% 0.00% 27.92% 85.35%
Convertible Bonds
0.00% 0.00% 23.84% 95.50%
Cash
0.00% -16.75% 158.07% 2.06%
Bonds
0.00% -82.31% 116.75% 95.76%

Stock Sector Breakdown

Weighting Return Low Return High CYA % Rank
Utilities
0.00% 0.00% 99.55% 55.15%
Technology
0.00% 0.00% 48.68% 12.63%
Real Estate
0.00% 0.00% 65.01% 62.11%
Industrials
0.00% 0.00% 33.21% 83.25%
Healthcare
0.00% 0.00% 39.78% 40.98%
Financial Services
0.00% 0.00% 60.22% 67.27%
Energy
0.00% 0.00% 85.65% 59.92%
Communication Services
0.00% 0.00% 100.00% 19.07%
Consumer Defense
0.00% 0.00% 22.62% 33.25%
Consumer Cyclical
0.00% 0.00% 20.19% 28.09%
Basic Materials
0.00% 0.00% 33.35% 80.54%

Stock Geographic Breakdown

Weighting Return Low Return High CYA % Rank
US
92.52% -1.65% 98.67% 99.36%
Non US
0.00% -0.44% 56.67% 100.00%

CYA - Expenses

Operational Fees

CYA Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.64% 0.06% 7.62% 89.37%
Management Fee 0.75% 0.00% 1.83% 87.21%
12b-1 Fee N/A 0.00% 1.00% 8.33%
Administrative Fee N/A 0.01% 0.83% N/A

Sales Fees

CYA 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

CYA Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 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.

CYA Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 343.00% N/A

CYA - Distributions

Dividend Yield Analysis

CYA Category Low Category High CYA % Rank
Dividend Yield 0.00% 0.00% 11.31% 0.51%

Dividend Distribution Analysis

CYA Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Quarterly Quarterly

Net Income Ratio Analysis

CYA Category Low Category High CYA % Rank
Net Income Ratio N/A -2.34% 19.41% N/A

Capital Gain Distribution Analysis

CYA Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Distributions History

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CYA - Fund Manager Analysis

Managers

Michael Green


Start Date

Tenure

Tenure Rank

Sep 13, 2021

0.71

0.7%

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.

Shailesh Vasundhra


Start Date

Tenure

Tenure Rank

Sep 13, 2021

0.71

0.7%

Shailesh Vasundhra, hired 12/2002, is Portfolio Manager for Deephaven Domestic Convertible Trading Ltd. and Portfolio Manager for the Deephaven Global Convertibles Select Opportunities Fund. Shailesh was most recently a founding principal and head portfolio manager of Cobra Management, LLC, an investment firm specializing in convertible arbitrage. Shailesh received his MBA from the Amos Tuck School of Business at Dartmouth College. He also has an undergraduate degree in Electronics and Communications Engineering from the University of Mysore, India.

David Berns


Start Date

Tenure

Tenure Rank

Sep 13, 2021

0.71

0.7%

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.

Paul Kim


Start Date

Tenure

Tenure Rank

Sep 13, 2021

0.71

0.7%

Paul Kim is LVAM’s Head of Multi Manager and has overall responsibility for our range of Multi Manager funds. He is supported by Portfolio Managers Richard Timberlake and Simon Brooks. Paul joined LVAM in 2011 with 27 years’ investment experience having been Research Director at IMS Ltd. from 1999, a UK based multi-manager acquired by FundQuest in 2008. Previously, Paul held senior roles at Old Mutual, AXA Sun Life, Spencer Thornton and Alexander Stenhouse Fund Managers. He is a member of the Securities Institute.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 34.51 6.26 2.41