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CDX

Simplify High Yield PLUS Credit Hedge ETF

as of 06/18/2024

NAV

$ 23.34

NAV Change

+ $ 0.13 /0.56%

Price

$ 23.37

Price Change

+ $ 0.08 /0.34%
The Simplify High Yield PLUS Credit Hedge ETF (CDX) seeks to maximize current income by investing primarily in high-yield bonds while mitigating credit risk.

The credit risk premium is an attractive return source that may provide significant income. But credit spreads can turn swiftly, wiping out years of gains quickly. CDX is designed to provide core high yield exposure, with its attractive income, while simultaneously deploying a host of compelling credit hedge techniques to alleviate the blowup risk.

Credit hedging can be very expensive, so it is paramount to be flexible in our approach to hedging within the space. CDX will opportunistically invest, based on cost-to-payout ratios, in CDX calls, Quality-Junk factor-based hedges, and equity puts.

CDX Overview

CDX Fund Deep Dive Live

Fund Overview

As of 06/18/2024

Ticker Symbol
CDX
Gross Expense Ratio
0.51%
Net Expense Ratio
0.26%
CUSIP
82889N830
Total Assets
$158,150,380.71
Shares Outstanding
6,775,001
Distribution Yield as of 05/31/2024 Distribution yield calculation employs the most recent distribution, and multiplies the payment by 12 (monthly) or 4 (quarterly) to get an annualized total. The annualized total is then divided by the most recent net asset value (NAV) to determine the distribution yield.
Distribution Yield Close
Distribution yield calculation employs the most recent distribution, and multiplies the payment by 12 (monthly) or 4 (quarterly) to get an annualized total. The annualized total is then divided by the most recent net asset value (NAV) to determine the distribution yield.
5.26%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 05/31/2024 SEC 30-day Yield is available once fund has a full quarter of performance.
SEC 30-Day Yield Close
SEC 30-day Yield is available once fund has a full quarter of performance.
5.00%
30-Day SEC Yield (Unsubsidized) as of 05/31/2024
4.75%
Portfolio Duration
2.51
Options Available
No
Inception Date
02/14/2022
Premium/Discount (%) as of 06/18/2024
0.11%
NAV Per Share as of 06/18/2024
$23.34
Market Price as of 06/18/2024
$23.37
30-Day Median Bid-Ask Spread
0.31%
Bid/Ask
$23.35/$23.41
Midpoint Price
$23.38
Volume
18,088
NAV Symbol
CDX.NV
IOPV Symbol
CDX.IV
Shares Out. Symbol
CDX.SO
Schedule K-1
No

Management Fees

This table describes the fees and expenses that you may pay if you buy, sell, and hold shares of the Fund. Investors purchasing or selling shares of the Fund in the secondary market may be subject to costs (including customary brokerage commissions) charged by their broker. The fee table located in the prospectus and updates in prospectus supplements prevail.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees 0.50%
Distribution and Service (12b-1) Fees 0.00%
Other Expenses1 0.01%
Total Annual Fund Operating Expenses 0.51%
Fee Waiver2 (0.25)%
Total Annual Fund Operating Expenses After Fee Waiver 0.26%
1. Amount of interest expense included in percentage.

2. The Fund’s adviser has contractually agreed, through at least October 31, 2024, to waive its management fees to 0.25% of the Fund’s average daily net assets.

Fund Performance

As of 05/31/2024 12/31/2023

Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV 0.97% 0.82% 4.16% 2.70% 10.75% 6.27%
Market Price 0.35% 0.65% 4.06% 2.37% 10.33% 6.07%
Annualized 1 Year 3 Year Since Inception
NAV 10.75% 2.69%
Market Price 10.33% 2.61%
Cumulative 1 Year Since Inception
NAV 10.80% 5.83%
Market Price 10.55% 5.70%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV 10.80% 2.71%
Market Price 10.55% 2.65%

Historical Premium/Discount

Calendar Year 2023 1st Quarter of 2024
Days Traded at Premium
125
42
Days Traded at Discount
125
19

Portfolio Holdings

Ticker Name Quantity Weight
SPXW US 06/24/24 P5000 SPXW Jun 2024 5000 Put -156 0.00%
SPXW US 06/24/24 P5200 SPXW Jun 2024 5200 Put 156 0.00%
- 05Y5BRAB2 10000000 -0.41%
- NOM HYG FED FUNDS -47854792 -30.26%
ISHARES iShares iBoxx High Yield Bond ETF Total Return Swap 1420216 69.46%
TRS MSSIJNK1 Simplify Custom Junk Equity Index -43875 -25.28%
TRS MSSIQUA1 Simplify Custom Quality Equity Index 43215 30.13%
T Bills B 06/25/24 60200000 38.04%
T Bills B 07/05/24 66300000 41.83%
T Bills B 08/13/24 27500000 17.25%
- Estimated Cash -104598543 -66.14%

Recent Distributions

Ex-Dividend Date Record Date Payable Date Ordinary Income Short Term Capital Gains Long Term Capital Gains Return of Capital Total Distribution
$0.10000 $0.00000 $0.00000 $0.00000 $0.10000
$0.15000 $0.00000 $0.00000 $0.00000 $0.15000
$0.15000 $0.00000 $0.00000 $0.00000 $0.15000
$0.10000 $0.00000 $0.00000 $0.00000 $0.10000
$0.10000 $0.00000 $0.00000 $0.00000 $0.10000
View Distribution History

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