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CRDT

Simplify Opportunistic Income ETF

as of 02/21/2024

NAV

$ 25.55

NAV Change

+ $ 0.03 /0.12%

Price

$ 25.60

Price Change

+ $ 0.05 /0.20%
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 02/21/2024

Ticker Symbol
CRDT
Gross Expense Ratio
0.95%
Net Expense Ratio
0.50%
CUSIP
82889N558
Total Assets
$76,655,459.90
Shares Outstanding
3,000,001
Distribution Yield as of 01/31/2024 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.
7.05%
Distribution Frequency
Monthly
SEC 30-Day Yield as of 01/31/2024 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.
8.40%
Unsubsidized 30-Day SEC Yield as of 01/31/2024
7.94%
Portfolio Duration
1.98
Options Available
No
Inception Date
06/26/2023
Premium/Discount (%) as of 02/21/2024
0.19%
NAV Per Share as of 02/21/2024
$25.55
Market Price as of 02/21/2024
$25.60
30-Day Median Bid-Ask Spread
0.12%
Bid/Ask
$25.59/$25.61
Midpoint Price
$25.60
Volume
2,222
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 01/31/2024 12/31/2023

Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV 0.23% 5.65% 4.87% 0.23% 5.50%
Market Price 4.62% 4.53% 5.15%
Annualized 1 Year 3 Year Since Inception
NAV
Market Price
Cumulative 1 Year Since Inception
NAV 5.26%
Market Price 5.16%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV
Market Price

Historical Premium/Discount

Calendar Year 2023 4th Quarter of 2023
Days Traded at Premium
107
50
Days Traded at Discount
23
13

Portfolio Holdings

Ticker Name Quantity Weight
ADMSO ADMSO 2023-1 B 500000 0.67%
ANGOL REPUBLIC OF ANGOLA 9.125 11/26/2049 600000 0.64%
ARI ARI 4 5/8 06/15/29 400000 0.42%
ASTONM ASTONM 10 1/2 11/30/25 400000 0.55%
COIN COIN 2017-1A A2 5.216 4/25/2047 466250 0.50%
DSPORT DSPORT 5 3/8 08/15/26 2500000 0.19%
EGYPT EGYPT 6.2004 03/01/24 500000 0.67%
EGYPT ARAB REPUBLIC OF EGYPT 6.2004 3/1/2024 500000 0.67%
EGYPT EGYPT 7.903 02/21/48 1250000 1.02%
EGYPT EGYPT 7 1/2 02/16/61 1200000 0.94%
EPD EPD 5 3/8 02/15/78 550000 0.67%
FRCB FIRST REPUBLIC BANK 4.625 2/13/2047 1500000 0.09%
FYBR FYBR 8 5/8 03/15/31 200000 0.27%
FYBR FYBR 2023-1 C 11.5 8/20/2053 300000 0.40%
FYBR FYBR 2023-1 B 8.3 8/20/2053 300000 0.39%
GRUB GRUBHUB HOLDINGS INC 5.5 07/01/2027 700000 0.80%
HERTZ HERTZ 2021-2A D 4.34 12/27/2027 750000 0.89%
IEP IEP 4 3/4 09/15/24 200000 0.26%
KENINT Kenya Government International Bond (USD) 400000 0.45%
LACCN LACCN 1 3/4 01/15/27 1000000 0.89%
LIBMUT LIBERTY MUTUAL GROUP INC 4.125 12/15/2051 1500000 1.74%
LINTA LINTA 8 1/2 07/15/29 200000 0.15%
LOGM LOGM 5 1/2 05/01/28 161700 0.18%
LOGM LOGM 5 1/2 05/01/28 223300 0.17%
LUMN CTL 4 02/15/27 1000000 0.74%
LUMN CTL 7.6 09/15/39 1000000 0.47%
MBONO MBONO 8 09/05/24 27700000 2.16%
MBONO MBONO 5 03/06/25 10900000 0.81%
MCBRAC MCBRAC 7 1/4 06/30/31 1235976 1.36%
MCLAUT MCLAUT 7 1/2 08/01/26 450000 0.52%
NGERIA NIGERIA (FEDERAL REPUBLIC OF) 400000 0.44%
NRG NRG 10 1/4 PERP 767000 1.11%
OCTL OCTL 2022-1A R1 12121 2.61%
QVCN QVC Inc. (USD) 600000 0.62%
RADPAR RP ESCROW ISSUER LLC 5.25 12/15/2025 1200000 1.42%
RITM RITM 6 1/4 10/15/25 400000 0.53%
RIVHOL RIVHOL Float 10/15/26 1650000 2.27%
SBNY SIGNATURE BK NEW YORK N 4.0 15OCT30 750000 0.46%
SFRFP YPSO FINANCE BIS 10.5 5/15/2027 2000000 1.58%
SGLSJ SGLSJ 4 1/2 11/16/29 850000 0.90%
SIERRA SIERRA 6 06/15/28 1000000 1.14%
TEN TEN 8 11/17/28 400000 0.47%
TITIM TELECOM ITALIA S 5.303 30MAY24 144A 300000 0.39%
UBER Uber Technologies Inc. 300000 0.41%
UFS UFS 6 3/4 10/01/28 1150000 1.43%
UKRAIN UKRAIN 7 3/4 09/01/28 1500000 0.51%
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 1000000 1.38%
VERI VERI 1 3/4 11/15/26 1444000 0.55%
WEWORK WEWORK 15 08/15/27 1500000 0.66%
AGNC AGNC Investment Corp 180000 2.23%
ARR ARMOUR RES 15000 0.37%
CEE CENT EUROP COM USD0.001 40423 0.51%
EMD Western Asset Emerging Markets Debt Fund Inc 80000 0.94%
HIGH Simplify Enhanced Income ETF 125000 4.01%
JBBB JBBB 56000 3.53%
MTBA MTBA 62332 4.12%
NLY ANNALY CAP MGMT INC 93200 2.28%
OXLC Oxford Lane Capital Corp 125000 0.82%
PFIX Simplify Interest Rate Hedge ETF 36334 2.38%
RITM NEW RESIDE COM NPV (POST REV SPLIT) 35800 0.50%
SVOL SIMPLIFY VOLATILITY PREMIUM 130000 3.86%
TUA Simplify Short Term Treasury Futures ETF 300495 8.66%
SAVE SPIRIT AIRLINES INC 20000 0.17%
CLJ4 COM WTI CRUDE FUTURE Apr24 30 0.01%
DUH4 COM EURO-SCHATZ FUT MAR24 740 -1.00%
ECH4 CUR EURO FX CURR FUT Mar24 -15 0.04%
FVH4 COM US 5YR NOTE (CBT) MAR24 225 -0.08%
IKH4 COM Euro-BTP Future Mar24 -160 -0.70%
NOH4 CUR NORWEGIAN KRONE Mar24 11 0.11%
RXH4 COM EURO-BUND FUTURE Mar24 -29 0.08%
UXH4 IND CBOE VIX FUTURE Mar24 102 0.11%
OZK US 03/15/24 C42.5 OZK Mar 2024 42 Call -140 -0.02%
OZK US 03/15/24 P42.5 OZK Mar 2024 42 Put 140 0.03%
TRIN US 03/15/24 C15 TRIN Mar 2024 15 Call -400 -0.01%
TRIN US 03/15/24 P15 TRIN Mar 2024 15 Put 400 0.04%
- CDX HY CDSI S41 5Y PRC12/20/28 33400000 -2.60%
T Bills B 03/28/24 2400000 3.11%
T Bills B 04/02/24 400000 0.52%
T Bills B 04/09/24 6500000 8.42%
T Bills B 05/02/24 5200000 6.71%
AGNC AGNC 10.6806 PERP Pfd 23400 0.78%
CIM CIM 8 PERP 24800 0.79%
FBRT FBRT 7 1/2 PERP 11300 0.31%
FMCC FEDERAL HOME LN MTG CORP 5.66 PFD 37500 0.14%
LOGM LOGAN MERGER SUB INC 5.5 9/1/2027
NLY NLY 10.5309 PERP Pfd 24500 0.82%
QRTEA QRTEA 8 Pfd 18600 1.13%
RITM RITM 7 PERP 45564 1.35%
RITM RITM 6 3/8 PERP Pfd 19996 0.57%
SICP SI 5 3/8 PERP 10000 0.14%
- Estimated Cash 3397370 4.43%

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
$0.16343 $0.00000 $0.00000 $0.00000 $0.16343
$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
View Distribution History

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