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CRDT

Simplify Opportunistic Income ETF

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As of 02/13/2026

NAV

$ 23.47

NAV Change

+ $ 0.15 /0.64%

Price

$ 23.45

Price Change

+ $ 0.15 /0.64%
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.
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Documents

Opportunistic Bond Investing with CRDT: Less “Fixed,” More “Income”

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Fund Overview

As of 02/13/2026

Ticker Symbol
CRDT
Expense Ratio
0.99%
CUSIP
82889N558
Total Assets
$38,135,422.51
Shares Outstanding
1,625,001
Distribution Rate as of 01/31/2026 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.
6.20%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 01/31/2026
-
30-Day SEC Yield (Unsubsidized) as of 01/31/2026
9.29%
Portfolio Duration
5.56
Options Available
No
Inception Date
06/26/2023
Premium/Discount (%) as of 02/13/2026
-0.08%
NAV Per Share as of 02/13/2026
$23.47
Market Price as of 02/13/2026
$23.45
30-Day Median Bid-Ask Spread
0.17%
Bid/Ask
$23.44/$23.48
Midpoint Price
$23.46
Volume
1,842
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. Distribution includes an estimated 24% Return of Capital ("ROC"). The ROC percentage indicates the percentage of the distribution that reflects an investor's initial investment.

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 Fees0.95%
Distribution and Service (12b-1) Fees0.00%
Other Expenses10.03%
Acquired Fund Fees and Expenses20.01%
Total Annual Fund Operating Expenses0.99%

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 01/31/2026 12/31/2025

Monthly Quarterly Annually
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV 0.23% 1.34% 0.54% 0.23% -2.06% 10.28%
Market Price 0.38% 1.68% 0.89% 0.38% -2.02% 10.28%
Annualized 1 Year 3 Year Since Inception
NAV -2.06% — 3.84%
Market Price -2.02% — 3.84%
Cumulative 1 Year Since Inception
NAV -0.38% 10.03%
Market Price -0.68% 9.86%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV -0.38% — — 3.87%
Market Price -0.68% — — 3.81%
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. 

Historical Premium/Discount

Calendar Year 2025 4th Quarter of 2025
Days Traded at Premium
136
15
Days Traded at Discount
114
49
The above frequency distribution chart presents information about the difference between the daily market price for shares of the Fund and the Fund's reported Net Asset Value. The amount that the Fund's market price is above the reported NAV is called the premium. The amount that the Fund's market price is below the reported NAV is called the discount. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 p.m. EST). The horizontal axis of the chart shows the premium or discount expressed in basis points. The vertical axis indicates the number of trading days in the period covered by the chart. Each bar in the chart shows the number of trading days in which the Fund traded within the premium/discount range indicated.

Portfolio Holdings

As of 02/13/2026

Holdings - All ETFs
Ticker Name Quantity Weight
ABCLN ALLY BK SANDY UT 8.036 15SEP32 144A 444,961 0.66%
ARWR ARROWHEAD PHARMACEUTICA 0.0 15JAN32 800,000 2.27%
AZUBBZ AZUL INVESTMENTS LLP 7.25 15J DFLT 4,105,000 0.22%
AZUBBZ AZUL INVTS LLP 7.25 15JUN26 1 DFLT 149,000 0.01%
BMARK BENCHMARK 2019-B9 3.0 15MAR52 144A 1,000,000 1.32%
BWXT BWX TECHNOLOGIES I 0.0 01NOV30 144A 1,500,000 4.04%
CACLN JPMORGAN CHASE 10.418 25FEB33 144A 644,389 1.40%
CEOAXA CE OAXACA II S DE 7.25 31DEC31 144A 545,200 0.76%
DDOG DATADOG INC 0.0 01DEC29 1,500,000 3.90%
DRSDEL NEWCO HOLDING EUR 11.0 20FEB30 144A 500,000 1.25%
DRSLF DRYDEN 97 CL 9.81763 20OCT38 144A F 1,000,000 2.64%
FLL FULL HSE RESORTS 8.25 15FEB28 144A 500,000 1.22%
FRCB FIRST REP BK SAN FRAN 4.625 1 DFLT 1,500,000 0.01%
GOODG GOODGREEN 2024-1 L 8.5 15JUL56 144A 327,396 0.61%
GRADE SALUDA GRADE ALT 8.486 25APR54 144A 689,148 1.31%
GRLPK GREEN LAKES 8.41802 25JAN38 144A FR 1,000,000 2.55%
HACLN HUNTINGTON N 11.203 20OCT32 144A FR 453,573 0.73%
HACLN HUNTINGTON N 7.203 21MAR33 144A FRN 349,407 0.65%
IONS IONIS PHARMACEUTIC 0.0 01DEC30 144A 500,000 1.44%
KOS KOSMOS ENERGY GT 11.25 29JAN31 144A 200,000 0.52%
LEU CENTRUS ENERGY COR 0.0 15AUG32 144A 500,000 1.50%
MAGNE MAGNETITE 50 10.34802 25JUL38 144A 250,000 0.64%
MLFPK MILFORD PK C 8.51763 20JAN38 144A F 1,000,000 2.51%
NAVSL NAVIENT PRIVATE ED 0.0 15JUL69 144A 4,722 3.22%
PNT POINT SECURITIZATI 5.5 25JUN55 144A 1,500,000 3.21%
SMCI SUPER MICRO COMPUT 0.0 15JUN30 144A 500,000 1.16%
SNOW SNOWFLAKE INC 0.0 01OCT29 500,000 1.81%
SRPT SAREPTA THERAPEU 4.875 01SEP30 144A 1,000,000 2.06%
TWMAFI TWMA FINANCE AS 12.25 10FEB29 144A 1,000,000 2.68%
- 2,754 0.00%
AGNC AGNC INV C COM USD0.01 127,037 3.78%
ARR ARMOUR RES COM USD0.001(POST REV SP 61,000 2.85%
CIM CHIMERA IN COM USD0.01 (PST REV SPL 51,025 1.88%
DX DYNEX CAPI COM USD0.01(POST REV SPL 129,265 4.76%
MFA MFA FINANC COM USD0.01(POST REV SPL 209,000 5.42%
NLY ANNALY CAP COM USD0.01(POST REV SPL 79,655 4.82%
RITM RITHM CAPI COM NPV 216,593 6.00%
TUH6 COM US 2YR NOTE (CBT) Mar26 60 0.11%
TYH6 COM US 10YR NOTE (CBT)MAR26 118 0.47%
WNH6 COM US ULTRA BOND CBT Mar26 16 0.10%
QQQ US 03/20/26 P500 QQQ Mar 2026 500 Put 125 0.05%
- DIAMOND SPORTS NE 01/03/28 TERM LOAN 70,724 0.04%
CIM CHIMERA INVT CORP 8.69019 CUM PFD 53,000 3.09%
CIM CHIMERA INVT CORP 9.73819 CUM PFD 47,142 2.94%
DX DYNEX CAP INC CUM PFD 14,000 0.95%
MFA MFA FINL INC 8.875 PFD 28,200 1.85%
NGL NGL ENERGY PARTNERS 11.1468 CUM PFD 38,100 2.47%
QVCGA QVC GROUP INC 8.0 SER A CUM RED PFD 57,789 0.85%
RITM RITHM CAP CORP 8.75 CUM PFD 37,584 2.44%
RITM RITHM CAP CORP 7.0 CUM PFD 30,564 1.99%
RITM RITHM CAP CORP 9.08242 CUM PFD 30,134 1.94%
- Estimated Cash 1,866,721 4.89%

Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date Record Date Payable Date Total Distribution
N/A
$0.12000
$0.13000
$0.13000
$0.13000
View Distribution History
S19(a) Notices 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.
S19(a) Notices Close
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.

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