CDX

Simplify High Yield PLUS Credit Hedge ETF

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as of 02/06/2023

NAV

$ 21.62

NAV Change

- $ 0.08 /0.37%

Price

$ 21.61

Price Change

- $ 0.08 /0.37%
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.

Fund Overview

As of 02/06/2023

Ticker Symbol
CDX
Gross Expense Ratio
0.50%
Net Expense Ratio
0.25%
CUSIP
82889N830
Total Assets
$39,992,798.90
Shares Outstanding
1,850,001
SEC 30-Day Yield as of 12/31/2022 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.
2.86%
Unsubsidized 30-Day SEC Yield as of 12/31/2022
2.59%
Distribution Frequency
Monthly
Distribution Yield as of 12/31/2022 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.
44.56%
Portfolio Duration
4.23
Options Available
No
Inception Date
02/14/2022
Premium/Discount (%) as of 02/06/2023
-0.04%
NAV
$21.62
NAV Per Share as of 02/06/2023
$21.62
Market Price as of 02/06/2023
$21.61
30-Day Median Bid-Ask Spread
0.28%
Bid/Ask
$21.55/$21.65
Midpoint Price
$21.60
Volume
1,380
NAV Symbol
CDX.NV
IOPV Symbol
CDX.IV
Shares Out. Symbol
CDX.SO
 

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%
Total Annual Fund Operating Expenses 0.50%
Fee Waiver and Reimbursement1 (0.25)%
Total Annual Fund Operating Expenses After Fee Waiver 0.25%
1. The Fund’s adviser has contractually agreed, until at least October 31, 2023, to waive its management fees and/or pay or absorb the Fund’s expenses, in order to limit the amount of “Specified Expenses” borne by the Fund to 0.25% of the Fund’s average daily net assets. “Specified Expenses” means all ordinary operating expenses of the Fund including management fees, except for interest expenses, taxes, brokerage expenses, Rule 12b-1 fees (if any), acquired fund fees and expenses, and expenses incidental to a meeting of the Fund’s shareholders. The fee waiver is subject to recoupment if such recoupment can be achieved within the lesser of the foregoing expense limits or those in place at the time of recapture. Any waived fees may only be recouped within three years from the date when the amount was waived or reimbursed. This agreement may be terminated only by the Trust’s Board of Trustees on 60 days’ written notice to the Fund’s adviser.

Fund Performance

As of 01/31/2023 12/31/2022

Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV 1.58% 3.66% -2.58% 1.58% -6.55%
Market Price 1.54% 3.45% -3.07% 1.54% -6.66%
Annualized 1 Year 3 Year Since Inception
NAV
Market Price
Cumulative 1 Year Since Inception
NAV -8.00%
Market Price -8.07%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV
Market Price

Historical Premium/Discount

Calendar Year 2022 4th Quarter of 2022
Days Traded at Premium
130
26
Days Traded at Discount
90
37
Ticker Name Quantity Weight
SPXW US 02/17/23 P3780 SPXW Feb 2023 3780 Put 1 0.00%
T Bills TREASURY BILL 0 2/23/2023 26340000 65.73%
SPXW US 03/17/23 P3780 SPXW Mar 2023 3780 Put 1 0.00%
T Bills B 06/08/23 13100000 32.25%
ISHARES iShares iBoxx High Yield Bond ETF Total Return Swap 529373 100.47%
MORGAN S Simplify Custom Quality Equity Index 12885 30.88%
MORGAN S Simplify Custom Junk Equity Index -10517 -26.65%
- Estimated Cash -39374495 -98.45%

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
$0.79465 $0.00000 $0.00000 $0.00000 $0.79465
$0.10000 $0.00000 $0.00000 $0.00000 $0.10000
$0.10000 $0.00000 $0.00000 $0.00000 $0.10000
$0.10000 $0.00000 $0.00000 $0.00000 $0.10000
View Distribution History