CRDT Simplify Opportunistic Income ETF
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.
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.
Why Invest in CRDT?
Fund Overview
As of 08/25/2026
Ticker Symbol
CRDT
Expense Ratio
0.99%
CUSIP
82889N558
Total Assets
$31,820,102.02
Shares Outstanding
1,350,001
Distribution Rate as of 07/31/2026
Distribution rate 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 rate.
Distribution Rate Close
Distribution rate 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 rate.5.16%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 07/31/2026
7.87%
30-Day SEC Yield (Unsubsidized) as of 07/31/2026
7.87%
Portfolio Duration
8.95
Options Available
No
Inception Date
06/26/2023
Premium/Discount (%) as of 08/25/2026
-0.04%
NAV Per Share as of 08/25/2026
$23.57
Market Price as of 08/25/2026
$23.56
30-Day Median Bid-Ask Spread
0.17%
Bid/Ask
$23.56/$23.57
Midpoint Price
$23.57
Volume
795
NAV Symbol
CRDT.NV
IOPV Symbol
CRDT.IV
Shares Out. Symbol
CRDT.SO
Schedule K-1
No
The Distribution Rate is the annual rate an investor would receive if the most recently declared distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by multiplying an ETF’s Distribution per Share by twelve (12), and dividing the resulting amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. The distribution may include a combination of ordinary dividends, capital gains, and return of investor capital and has the potential to change during any given tax year. Please refer to the 19a-1 Notice, which can be found on the Fund’s website, for information regarding the composition of distributions, including return of capital. The final determination of a distribution’s tax character will be made on Form 1099-DIV.
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 | 0.03% |
| Acquired Fund Fees and Expenses2 | 0.01% |
| Total Annual Fund Operating Expenses | 0.99% |
1. Other Expenses include interest expenses of 0.03%.
2. Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table do not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund.
Fund Performance (Total Return)
As of 07/31/2026 06/30/2026
| Cumulative | 1 Month | 3 Month | 6 Month | YTD | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|---|---|---|---|
| NAV | -0.25% | 1.56% | 2.72% | 2.96% | 3.28% | 12.61% | — | 13.28% |
| Market Price | -0.89% | 1.65% | 2.37% | 2.76% | 3.29% | 12.23% | — | 12.89% |
| Annualized | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | 3.28% | 4.04% | — | 4.11% |
| Market Price | 3.29% | 3.92% | — | 4.00% |
| Cumulative | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | 4.36% | 13.51% | — | 13.56% |
| Market Price | 4.65% | 14.00% | — | 13.91% |
| Annualized | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | 4.36% | 4.32% | — | 4.31% |
| Market Price | 4.65% | 4.46% | — | 4.42% |
| Calendar Year | NAV | Market Price |
|---|---|---|
| 2025 | -0.38% | -0.68% |
| 2024 | 4.94% | 5.18% |
| 2023 | — | — |
The performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is available above.
NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day.
Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.
Growth of $10,000
The Growth of $10,000 chart reflects a hypothetical investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted. Results are not indicative of future performance.
The chart above presents the Fund's daily premium or discount relative to its Net Asset Value (NAV) during the period shown. A premium occurs when the market price of the Fund's shares is greater than the Fund's NAV, while a discount occurs when the market price is less than the Fund's NAV. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time the Fund's NAV is calculated (usually 4:00 p.m. Eastern Time). The horizontal axis shows the trading dates during the period presented. The vertical axis shows the daily premium or discount expressed as a percentage of NAV. Each bar represents the Fund's premium or discount on a particular trading day. Bars above 0% indicate that the Fund traded at a premium to NAV, while bars below 0% indicate that the Fund traded at a discount to NAV. Past premiums and discounts are not indicative of future results.
Portfolio Holdings
| Ticker | Name | Quantity | Weight |
|---|---|---|---|
| ARIN | ARINI US CLO V 0.0 15APR39 144A FRN | 1,000,000 | 2.97% |
| BMARK | BENCHMARK 2019-B9 3.0 15MAR52 144A | 1,000,000 | 1.64% |
| DRSDEL | DRASLOVKA DELTA S 11.0 20FEB30 144A | 500,000 | 1.45% |
| DRSLF | DRYDEN 97 CL 9.87921 20OCT38 144A F | 1,000,000 | 3.17% |
| FRCB | FIRST REP BK SAN FRAN 4.625 1 DFLT | 1,500,000 | 0.00% |
| GRLPK | GREEN LAKES 8.56015 25JAN38 144A FR | 1,000,000 | 2.84% |
| IONS | IONIS PHARMACEUTIC 0.0 01DEC30 144A | 500,000 | 1.48% |
| LCID | LUCID GROUP INC 5.0 01APR30 144A | 1,800,000 | 2.51% |
| MAGNE | MAGNETITE 50 10.49015 25JUL38 144A | 250,000 | 0.75% |
| META | META PLATFORMS INC 5.5 15NOV45 | 1,000,000 | 2.72% |
| MLFPK | MILFORD PK C 8.57921 20JAN38 144A F | 1,000,000 | 2.76% |
| NAVSL | NAVIENT PRIVATE ED 0.0 15JUL69 144A | 4,722 | 3.32% |
| PNT | POINT SECURITIZATI 5.5 25JUN55 144A | 1,500,000 | 3.98% |
| SNAP | SNAP INC 6.875 01MAR33 144A | 500,000 | 1.56% |
| TWMAFI | TWMA FINANCE AS 12.25 10FEB29 144A | 1,000,000 | 3.20% |
| - | 2,754 | 0.00% | |
| AGNC | AGNC INV C COM USD0.01 | 86,352 | 2.96% |
| ARR | ARMOUR RES COM USD0.001(POST REV SP | 44,351 | 2.29% |
| BHR | BRAEMAR HT COM USD0.01 | 433,000 | 2.79% |
| DX | DYNEX CAPI COM USD0.01(POST REV SPL | 110,014 | 4.50% |
| FLL | FULL HSE RESORTS INC USD 0.0001 | 497,000 | 3.31% |
| MFA | MFA FINANC COM USD0.01(POST REV SPL | 141,773 | 3.94% |
| NLY | ANNALY CAP COM USD0.01(POST REV SPL | 58,147 | 4.22% |
| PMT | PENNYMAC M COM USD0.01 | 53,500 | 1.56% |
| RITM | RITHM CAPI COM NPV | 304,703 | 9.74% |
| FVZ6 COM | US 5YR NOTE (CBT) DEC26 | 131 | 43.79% |
| TUZ6 COM | US 2YR NOTE (CBT) DEC26 | 227 | 146.82% |
| WNZ6 COM | US ULTRA BOND CBT DEC26 | 42 | 14.69% |
| QQQ | INVESCO QQQ 800.0 CALL 17JUN27 | 30 | 0.30% |
| SFRZ6C | 3 MONTH SOFR OPT DEC26C 96.5 96.5 | 1,500 | 0.24% |
| T Bills | UNITED STS TREAS BILLS 0.0 22SEP26 | 1,000,000 | 3.13% |
| T Bills | UNITED STS TREAS BILLS 0.0 28JAN27 | 900,000 | 2.78% |
| AGNCP | AGNC INVT CORP 8.71153 CUM PFD | 21,500 | 1.72% |
| C | CITIGROUP CAP XIII 10.47461 CUM PFD | 31,000 | 2.58% |
| CIM | CHIMERA INVT CORP 8.73683 CUM PFD | 53,000 | 3.85% |
| CIM | CHIMERA INVT CORP 9.78483 CUM PFD | 47,142 | 3.67% |
| DSPORT | DIAMOND SPORTS NE 01/03/28 TERM LOAN | 42,728 | 0.02% |
| NGL | NGL ENERGY PARTNERS LP CUM PFD | 38,100 | 3.10% |
| ORCL | ORACLE CORP 6.5 CNV PFD | 12,500 | 1.79% |
| RITM | RITHM CAP CORP 8.75 CUM PFD | 37,584 | 2.91% |
| - | Estimated Cash | 1,348,570 | 4.24% |
Holdings are subject to change without notice.
Recent Distributions
| Ex-Dividend Date | Record Date | Payable Date | Total Distribution |
|---|---|---|---|
| N/A | |||
| $0.10000 | |||
| $0.10000 | |||
| $0.10000 | |||
| $0.10000 |
Data in the s19 reports should not be relied upon to estimate the tax classification of distributions.
They are rough point-in-time estimates that do not line up with the fund's fiscal year end and are thus
not reflective of the tax information investors should expect. S19 reports are posted for regulatory
requirements only.
