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Trending ETFs

Name

As of 05/24/2024

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

Simplify Hedged Equity ETF

HEQT | Active ETF

$27.16

$330 M

1.47%

$0.40

0.53%

Vitals

YTD Return

7.9%

1 yr return

16.4%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$330 M

Holdings in Top 10

103.5%

52 WEEK LOW AND HIGH

$27.0
$23.70
$27.19

Expenses

OPERATING FEES

Expense Ratio 0.53%

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 05/24/2024

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

Simplify Hedged Equity ETF

HEQT | Active ETF

$27.16

$330 M

1.47%

$0.40

0.53%

HEQT - Profile

Distributions

  • YTD Total Return 7.9%
  • 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 1.5%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Simplify Hedged Equity ETF
  • Fund Family Name
    N/A
  • Inception Date
    Nov 01, 2021
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Berns

Fund Description

Principal Investment Strategies: The adviser seeks to achieve the Fund’s investment objective by investing primarily in equity securities and applying an option overlay known as a “put/spread collar” strategy.

Equity Strategy

Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities, primarily by purchasing exchange-traded funds (“ETFs”) that seek to track the investment results of the S&P 500 Index. The Fund typically invests at least 80% of the Fund’s portfolio in underlying ETFs. The adviser does not frequently trade ETFs but seeks to maintain consistent exposure to the S&P 500 Index.

Put/Spread Collar Strategy

The Fund also purchases and sells exchange traded put options and sells exchange traded call options in the execution of an option overlay strategy known as a “put/spread collar” strategy. Up to twenty percent of the Fund’s net asset value will be subject to the “put/spread collar” strategy. The options used are based either on the S&P 500 Index itself or ETFs that seek to replicate the S&P 500 Index (“S&P 500 ETFs”). This strategy seeks to provide investors with downside protection from the put options as well as income from the index call options in an effort to reduce the risk and volatility associated with typical long-only equity strategies. If 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. If 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 creates a put/spread collar by buying a put option on the S&P 500 Index or an S&P 500 ETF at a higher strike price and selling a put option on that index or ETF at a relatively lower strike price, resulting in what is known as a put option spread. At the same time, the Fund will sell a call option on the S&P 500 Index or an S&P 500 ETF. The Fund may determine to create more than one put/spread collar as Fund assets increase. The put option spread is generally maintained so that the Fund is protected from a decrease in the market (as measured by the S&P 500 Index) of five to twenty percent. The options are reset on at least a quarterly basis to respond to current market conditions. The adviser utilizes a five to twenty percent range in order to align with other similar low volatility strategies. The put option spread is a strategic, persistent exposure meant to hedge against a portion of market declines. If the market goes down, the Fund’s returns may fall less than the market because the adviser will sell or exercise the put options. The value of the Fund’s put options is expected to decrease in proportion to the decrease in value of the underlying assets, but the amount by which the Fund’s options increase or decrease in value depends on how far the market has moved from the time the options position was initiated and the relative strike prices of the purchased and sold put options. By selling call options in return for the receipt of premiums, the Fund will give up the opportunity to benefit from potential increases in the value of the S&P 500 ETFs above the exercise prices of such options. By purchasing put options in return for the payment of premiums, the Fund may be protected from a significant decline in the price of the S&P 500 ETFs if the put options become in the money (where the put option’s strike price is greater than the market price of the underlying asset), but during periods where the S&P 500 ETFs appreciate, the Fund will underperform due to the cost of the premiums paid and the increased value of call sold.

The put/spread collar seeks to protect the Fund against a decline in value, and its execution tends to be less expensive than a strategy of only purchasing put options. The premiums received from writing index call options are designed to provide income, and those premiums can help offset the cost of the put option spread. Any savings generated between the premiums received from writing index call options and the premiums of the put options are passed on to shareholders. This strategy, however, provides investors less downside risk when there is only a small decline in the price of the stock. This is because the protection offered by the collar is limited to the extent of the difference between the strike prices of the put option purchased and the put option sold. This means that the strategy will not be effective as a strategy of put options only would be in protecting the Fund from steeper declines. On the other hand, the use of call options limits the Fund’s ability to profit from increases in the value of its equity portfolio because when markets are rising, the call option will likely be exercised once the market price rises to the option’s strike price.

Use of Futures. In addition to the use of options in the put/spread collar strategy described above, the Fund may use futures contracts (derivative contracts that obligate the buyer or seller to transact at a set price and predetermined time), primarily futures on indexes, to more effectively gain targeted equity exposure from its cash positions and to hedge the Fund’s portfolio if it is unable to purchase or write the necessary options for its overlay strategy.

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HEQT - Performance

Return Ranking - Trailing

Period HEQT Return Category Return Low Category Return High Rank in Category (%)
YTD 7.9% -51.8% 22.1% 92.70%
1 Yr 16.4% -58.9% 46.9% N/A
3 Yr N/A* -25.7% 197.6% N/A
5 Yr N/A* -29.1% 93.8% N/A
10 Yr N/A* -17.2% 37.0% N/A

* Annualized

Return Ranking - Calendar

Period HEQT Return Category Return Low Category Return High Rank in Category (%)
2023 11.9% -69.4% 53.7% N/A
2022 -11.7% -94.0% 152.6% N/A
2021 N/A -13.9% 183.6% N/A
2020 N/A -18.2% 8.9% N/A
2019 N/A -80.2% 35.2% N/A

Total Return Ranking - Trailing

Period HEQT Return Category Return Low Category Return High Rank in Category (%)
YTD 7.9% -97.2% 22.1% 93.28%
1 Yr 16.4% -58.9% 67.6% N/A
3 Yr N/A* -25.7% 197.6% N/A
5 Yr N/A* -28.1% 93.8% N/A
10 Yr N/A* -11.8% 37.0% N/A

* Annualized

Total Return Ranking - Calendar

Period HEQT Return Category Return Low Category Return High Rank in Category (%)
2023 16.6% -69.4% 53.7% N/A
2022 -8.2% -94.0% 152.6% N/A
2021 N/A -13.9% 183.6% N/A
2020 N/A -12.8% 8.9% N/A
2019 N/A -60.0% 35.2% N/A

HEQT - Holdings

Concentration Analysis

HEQT Category Low Category High HEQT % Rank
Net Assets 330 M 177 K 1.21 T 89.62%
Number of Holdings 14 2 4154 98.96%
Net Assets in Top 10 130 M 1.74 K 270 B 80.77%
Weighting of Top 10 103.50% 1.8% 100.0% N/A

Top 10 Holdings

  1. iShares Core SP 500 ETF 102.56%
  2. FIDELITY INV MMTRSY 1 680 0.72%
  3. SP 500 INDEX 0.19%
  4. SP 500 INDEX 0.05%
  5. SP 500 INDEX 0.02%
  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 HEQT % Rank
Stocks
103.28% 0.00% 130.24% 26.07%
Preferred Stocks
0.00% 0.00% 2.23% 56.57%
Convertible Bonds
0.00% 0.00% 5.54% 54.50%
Cash
0.00% -102.29% 100.00% 71.65%
Bonds
0.00% -0.04% 95.81% 54.50%
Other
-3.24% -13.91% 134.98% 56.78%

Stock Sector Breakdown

Weighting Return Low Return High HEQT % Rank
Utilities
0.00% 0.00% 25.44% 28.71%
Technology
0.00% 0.00% 48.94% 47.55%
Real Estate
0.00% 0.00% 37.52% 49.09%
Industrials
0.00% 0.00% 29.90% 69.47%
Healthcare
0.00% 0.00% 60.70% 47.62%
Financial Services
0.00% 0.00% 55.59% 50.91%
Energy
0.00% 0.00% 41.64% 31.37%
Communication Services
0.00% 0.00% 27.94% 39.29%
Consumer Defense
0.00% 0.00% 49.14% 47.97%
Consumer Cyclical
0.00% 0.00% 50.47% 50.77%
Basic Materials
0.00% 0.00% 26.10% 54.48%

Stock Geographic Breakdown

Weighting Return Low Return High HEQT % Rank
US
103.28% 0.00% 127.77% 22.82%
Non US
0.00% 0.00% 33.51% 62.72%

HEQT - Expenses

Operational Fees

HEQT Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.53% 0.01% 2.95% 67.57%
Management Fee 0.50% 0.00% 2.00% 47.79%
12b-1 Fee N/A 0.00% 1.00% 13.79%
Administrative Fee N/A 0.00% 0.85% N/A

Sales Fees

HEQT 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

HEQT Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 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.

HEQT Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 496.00% N/A

HEQT - Distributions

Dividend Yield Analysis

HEQT Category Low Category High HEQT % Rank
Dividend Yield 1.47% 0.00% 19.15% 33.52%

Dividend Distribution Analysis

HEQT Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Quarterly Annually

Net Income Ratio Analysis

HEQT Category Low Category High HEQT % Rank
Net Income Ratio N/A -54.00% 6.06% N/A

Capital Gain Distribution Analysis

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

Distributions History

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HEQT - Fund Manager Analysis

Managers

David Berns


Start Date

Tenure

Tenure Rank

Nov 01, 2021

0.58

0.6%

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.

Michael Green


Start Date

Tenure

Tenure Rank

Nov 01, 2021

0.58

0.6%

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.

Paul Kim


Start Date

Tenure

Tenure Rank

Nov 01, 2021

0.58

0.6%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 39.02 7.17 2.42