CYA

Simplify Tail Risk Strategy ETF

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as of 09/23/2022

NAV

$ 20.70

NAV Change

+ $ 1.66 /8.72%

Price

$ 21.18

Price Change

+ $ 2.30 /12.18%
The Simplify Tail Risk Strategy ETF (CYA) seeks to provide income and capital appreciation while protecting against significant downside risk to investors with a standalone solution for hedging diversified portfolios against severe equity market selloffs. By investing a substantial annual budget in highly convex equity-hedging strategies, modest allocations to the fund are intended to be valuable as a total portfolio hedging solution.

The fund deploys advanced option strategies that are designed to handle multiple types of market dislocations and be robust to path dependency. The fund invests in high income strategies to help fund the option purchases.

Fund Overview

As of 09/23/2022

Ticker Symbol
CYA
Gross Expense Ratio
0.75%
Net Expense Ratio
0.50%
CUSIP
82889N780
Total Assets
$86,923,156.86
Shares Outstanding
4,200,001
SEC 30-Day Yield as of 08/31/2022 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.
6.77%
Unsubsidized 30-Day SEC Yield as of 08/31/2022
6.51%
Distribution Frequency
Monthly
Distribution Yield as of 08/31/2022 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.
7.89%
Options Available
No
Inception Date
09/13/2021
Premium/Discount (%) as of 09/23/2022
2.34%
NAV
$20.70
NAV Per Share as of 09/23/2022
$20.70
Market Price as of 09/23/2022
$21.18
30-Day Median Bid-Ask Spread
0.80%
Bid/Ask
$21.00/$21.09
Midpoint Price
$21.05
Volume
250,297
NAV Symbol
CYA.NV
IOPV Symbol
CYA.IV
Shares Out. Symbol
CYA.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 0.75%
Distribution and Service (12b-1) Fees 0.00%
Acquired Fund Fees and Expenses1 0.00%
Total Annual Fund Operating Expenses 0.75%
Fee Waiver and Reimbursement2 (0.25%)
Total Annual Fund Operating Expenses After Fee Waiver 0.50%
1. Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights located in the prospectus because the financial statements include only the direct operating expenses incurred by the Fund.

2. The Fund’s adviser has contractually agreed until at least October 31, 2022, to waive 0.25% of 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 0.50% of the Fund’s average daily net assets. In addition, the adviser has agreed to waive any acquired fund fees and expenses attributed to investments in any series of the Simplify Exchange Traded Funds. “Specified Expenses” means all ordinary operating expenses of a 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 possible recoupment from a Fund in future years (within the three years after the fees have been waived), 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 Board on 60 days’ written notice to the Adviser.

Fund Performance

As of 08/31/2022 06/30/2022

Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV -0.24% -10.47% -17.49% -22.15% -25.04%
Market Price -1.26% -11.52% -19.14% -23.16% -25.41%
Annualized 1 Year 3 Year Since Inception
NAV
Market Price
Cumulative 1 Year Since Inception
NAV -14.92%
Market Price -14.97%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV
Market Price

Historical Premium/Discount

Calendar Year 2021 2nd Quarter of 2022
Days Traded at Premium
56
38
Days Traded at Discount
20
24
Ticker Name Quantity Weight
SVOL SIMPLIFY VOLATILITY PREMIUM 948291 23.42%
CDX SIMPLIFY HIGH YIELD PL CR HD 836978 21.18%
TYA SIMPLIFY RISK PARITY TREASUR 874668 15.77%
PFIX Simplify Interest Rate Hedge ETF 111161 8.00%
AGGH SIMPLIFY AGGR BD PL CR HD ET 37929 1.00%
SPXW US 09/30/22 P3900 SPXW Sep 2022 3900 Put 265 6.30%
SPXW US 09/30/22 C4080 SPXW Sep 2022 4080 Call 1123 0.02%
SPX US 10/21/22 P3300 S&P 500 Index Oct 2022 3300 Put 13459 28.34%
SPX US 10/21/22 P3550 S&P 500 Index Oct 2022 3550 Put 2128 14.41%
SPX US 10/21/22 C4850 S&P 500 Index Oct 2022 4850 Call 2011 0.02%
SPX US 10/21/22 C5050 S&P 500 Index Oct 2022 5050 Call -2011 -0.01%
SPX US 10/21/22 P3475 S&P 500 Index Oct 2022 3475 Put -2128 -10.20%
SPX US 10/21/22 P3100 S&P 500 Index Oct 2022 3100 Put -13459 -12.08%
- Estimated Cash 3318988 3.82%

Recent Distributions

Ex-Dividend Date Record Date Payable Date Ordinary Income Short Term Capital Gains Long Term Capital Gains Return of Capital Total Distribution
$0.11448 $0.00000 $0.00000 $0.00000 $0.11448
$0.10453 $0.00000 $0.00000 $0.00000 $0.10453
$0.12728 $0.00000 $0.00000 $0.00000 $0.12728
$0.12323 $0.00000 $0.00000 $0.00000 $0.12323
$0.16149 $0.00000 $0.00000 $0.00000 $0.16149
View Distribution History