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CRDT

Simplify Opportunistic Income ETF

as of 05/24/2024

NAV

$ 24.70

NAV Change

- $ 0.14 /0.56%

Price

$ 24.69

Price Change

- $ 0.26 /1.04%
The Simplify Opportunistic Income ETF (CRDT) seeks to provide current income, with long-term capital appreciation as a secondary objective.

CRDT is an actively managed, opportunistic credit strategy focused on security selection within high-yield, investment grade, and distressed debt. By deploying a multi-step investment process that combines macroeconomic, quantitative, and fundamental research, the fund seeks to generate alpha that diversifies the traditional investment portfolio.

The strategy is sub-advised by Asterozoa Capital, an alternatives manager focused on opportunistic investing across the capital structure while minimizing risks/correlations through portfolio construction and hedging.

Fund Overview

As of 05/24/2024

Ticker Symbol
CRDT
Gross Expense Ratio
0.95%
Net Expense Ratio
0.50%
CUSIP
82889N558
Total Assets
$73,492,101.64
Shares Outstanding
2,975,001
Distribution Yield as of 04/30/2024 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.
7.25%
Distribution Frequency
Monthly
SEC 30-Day Yield as of 04/30/2024 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.
7.61%
Unsubsidized 30-Day SEC Yield as of 04/30/2024
7.15%
Portfolio Duration
4.74
Options Available
No
Inception Date
06/26/2023
Premium/Discount (%) as of 05/24/2024
-0.05%
NAV Per Share as of 05/24/2024
$24.70
Market Price as of 05/24/2024
$24.69
30-Day Median Bid-Ask Spread
0.12%
Bid/Ask
$24.66/$24.72
Midpoint Price
$24.69
Volume
1,321
NAV Symbol
CRDT.NV
IOPV Symbol
CRDT.IV
Shares Out. Symbol
CRDT.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 0.95%
Distribution and Service (12b-1) Fees 0.00%
Other Expenses1 0.00%
Total Annual Fund Operating Expenses 0.95%
Fee Waiver2 (0.45)%
Total Annual Fund Operating Expenses After Fee Waiver 0.50%
1. Other Expenses are estimated for the Fund’s initial fiscal year.

2. The adviser has contractually agreed to waive its fee payable under the management agreement by 0.45% through at least October 31, 2024. This agreement may be terminated only by the Board of Trustees on 60 days’ written notice to the adviser.

Fund Performance

As of 04/30/2024 12/31/2023

Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV -0.54% -1.04% 4.56% -0.81% 4.40%
Market Price -1.04% -1.32% 3.25% -1.32% 3.77%
Annualized 1 Year 3 Year Since Inception
NAV
Market Price
Cumulative 1 Year Since Inception
NAV 4.97%
Market Price 4.86%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV
Market Price

Historical Premium/Discount

Calendar Year 2023 1st Quarter of 2024
Days Traded at Premium
107
56
Days Traded at Discount
23
5

Portfolio Holdings

Ticker Name Quantity Weight
ADMSO ADMSO 2023-1 B 500000 0.70%
ARI ARI 4 5/8 06/15/29 400000 0.47%
AVID AVID 2023-1 A 808477 0.20%
AZUBBZ AZUBBZ 11.93 08/28/28 1000000 1.41%
BFLD BFLD 2019-DPLO 1000000 1.36%
CVNA CARVANA CO 5.625 10/1/2025 1500000 2.00%
CYH CYH 8 03/15/26 500000 0.69%
DB DB 7 1/2 PERP 400000 0.54%
EGYPT EGYPT 7.903 02/21/48 750000 0.78%
EPD EPD 5 3/8 02/15/78 550000 0.71%
F F 4.134 08/04/25 1000000 1.35%
FCAT FCAT 2021-4 A 231438 0.02%
FIGRE FIGRE 2024-HE2 A FRN 5/25/2054 1000000 1.36%
FNCL FANNIE MAE POOL 3.5 25JUN42 TBA 11900000 14.25%
FNCL FANNIE MAE POOL 6.0 25JUN41 TBA 3000000 4.10%
FRCB FIRST REPUBLIC BANK 4.625 2/13/2047 1500000 0.09%
FYBR FYBR 8 5/8 03/15/31 200000 0.28%
FYBR FYBR 2023-1 B 8.3 8/20/2053 300000 0.42%
FYBR FYBR 2023-1 C 11.5 8/20/2053 300000 0.41%
GRUB GRUBHUB HOLDINGS INC 5.5 07/01/2027 700000 0.88%
HERTZ HERTZ 2022-4A D 1000000 1.33%
HERTZ HERTZ 2021-2A D 4.34 12/27/2027 750000 0.92%
IEP IEP 4 3/4 09/15/24 200000 0.27%
ISRELE ISRELE 5 11/12/24 1000000 1.35%
JACK JACK 2022-1A A2I 960000 1.17%
LIBMUT LIBERTY MUTUAL GROUP INC 4.125 12/15/2051 1500000 1.92%
LOGM LOGM 5 1/2 05/01/28 161700 0.19%
LOGM LOGM 5 1/2 05/01/28 223300 0.16%
LUMN CTL 7.6 09/15/39 1550000 0.71%
MBONO MBONO 8 09/05/24 27700000 2.28%
MBONO MEX BONOS DESARR FIX RT 8.500% 05/31/2029 SERIES M 12500000 1.01%
MCBRAC MCBRAC 7 1/4 06/30/31 808138 1.00%
NAVSL NAVSL 2021-BA R 2222 1.37%
NRG NRG 10 1/4 PERP 767000 1.17%
OCTL OCTL 2022-1A R1 12121 2.72%
OPI OPI 9 03/31/29 850000 1.09%
QVCN QVC Inc. (USD) 600000 0.62%
RADPAR RADPAR 8 1/2 01/31/29 1075698 1.37%
RITM RITM 6 1/4 10/15/25 173000 0.23%
RITM RITM 8 04/01/29 1000000 1.35%
SBNY SIGNATURE BK NEW YORK N 4.0 15OCT30 750000 0.60%
SFRFP YPSO FINANCE BIS 10.5 5/15/2027 2000000 1.05%
SIERRA SIERRA 6 06/15/28 1000000 1.25%
SPLLLC CQP 5 5/8 03/01/25 1500000 2.06%
STWD STWD 7 1/4 04/01/29 1000000 1.38%
TEN TEN 8 11/17/28 1000000 1.29%
TITIM TELECOM ITALIA S 5.303 30MAY24 144A 300000 0.42%
UFS UFS 6 3/4 10/01/28 600000 0.74%
UNIT UNIT 10 1/2 02/15/28 650000 0.91%
UNIT UNIT 4 3/4 04/15/28 800000 0.93%
VAL VALARIS LTD 8.375 4/30/2030 750000 1.06%
VERI VERI 1 3/4 11/15/26 1444000 0.73%
WEWORK WEWORK 15 08/15/27 5902583 0.76%
WEWORK WEWORK 11 08/15/27 9250000 0.13%
AGNC AGNC Investment Corp 180000 2.36%
ARR ARMOUR RES 15000 0.39%
CEE CENT EUROP COM USD0.001 40423 0.57%
NLY ANNALY CAP MGMT INC 93200 2.47%
RITM NEW RESIDE COM NPV (POST REV SPLIT) 35800 0.54%
LUMN LUMEN TECHNOLOGIES INC LA USD 1.0 300000 0.52%
FVU4 COM US 5YR NOTE (CBT) SEP24 110 -0.02%
TUU4 COM US 2YR NOTE (CBT) SEP24 320 -0.13%
- 4AB951AF2 15000000 -0.34%
- 05Y5BRAB2 20000000 -1.90%
- MORGAN STANLEY CUSTOM QUALITY INDEX 6765 10.03%
- MORGAN STANLEY CUSTOM JUNK INDEX -5415 -7.04%
T Bills B 06/25/24 13600000 18.42%
T Bills B 07/05/24 12200000 16.50%
- DIAMOND SPORTS 12/02/24 TERM LOAN 138871 0.29%
AGNC AGNC 10.6806 PERP Pfd 23400 0.82%
CIM CIM 8 PERP 24800 0.84%
DSPORT DSPORT 5 3/8 08/15/26
FBRT FBRT 7 1/2 PERP 11300 0.32%
FMCC FEDERAL HOME LN MTG CORP 5.66 PFD 37500 0.19%
FNMA FEDERAL NATL MTG ASSN 8.25 PFD 25000 0.17%
NLY NLY 10.5309 PERP Pfd 24500 0.85%
QRTEA QRTEA 8 Pfd 18600 1.26%
RITM RITM 7 PERP 45564 1.43%
RITM RITM 6 3/8 PERP Pfd 37293 1.18%
SICP SI 5 3/8 PERP 10000 0.18%
- Estimated Cash -10629051 -14.45%

Recent Distributions

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

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