CYA

Simplify Tail Risk Strategy ETF

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as of 02/06/2023

NAV

$ 10.67

NAV Change

- $ 0.10 /0.93%

Price

$ 10.83

Price Change

+ $ 0.16 /1.50%
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.
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Documents

Fund Overview

As of 02/06/2023

Ticker Symbol
CYA
Gross Expense Ratio
1.09%
Net Expense Ratio
0.84%
CUSIP
82889N780
Total Assets
$20,009,912.57
Shares Outstanding
1,875,001
SEC 30-Day Yield as of 12/31/2022 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.
8.85%
Unsubsidized 30-Day SEC Yield as of 12/31/2022
6.47%
Distribution Frequency
Monthly
Distribution Yield as of 12/31/2022 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.
29.97%
Options Available
No
Inception Date
09/13/2021
Premium/Discount (%) as of 02/06/2023
1.48%
NAV
$10.67
NAV Per Share as of 02/06/2023
$10.67
Market Price as of 02/06/2023
$10.83
30-Day Median Bid-Ask Spread
1.39%
Bid/Ask
$10.59/$10.84
Midpoint Price
$10.72
Volume
2,754
NAV Symbol
CYA.NV
IOPV Symbol
CYA.IV
Shares Out. Symbol
CYA.SO
 
The Fund’s adviser has contractually agreed, until at least October 31, 2023, to waive its management fees and/or pay certain expenses, in order to limit specified expenses to 0.50% of the Fund’s average daily net assets.

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%
Other Expenses 0.01%
Acquired Fund Fees and Expenses1 0.33%
Total Annual Fund Operating Expenses 1.09%
Fee Waiver and Reimbursement2 (0.25)%
Total Annual Fund Operating Expenses After Fee Waiver 0.84%
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, 2023, to waive 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. “Specified Expenses” means all ordinary operating expenses of the Fund, 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 recoupment 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 Trust’s Board of Trustees on 60 days’ written notice to the Fund’s adviser.

Fund Performance

As of 01/31/2023 12/31/2022

Monthly Quarterly
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV -7.47% -23.13% -35.26% -7.47% -48.02% -51.35%
Market Price -8.38% -24.84% -36.51% -8.38% -49.09% -52.04%
Annualized 1 Year 3 Year Since Inception
NAV -48.02% — -40.59%
Market Price -49.09% — -41.27%
Cumulative 1 Year Since Inception
NAV -45.40% -47.42%
Market Price -46.07% -47.66%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV -45.40% — — -39.05%
Market Price -46.07% — — -39.32%
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.

Historical Premium/Discount

Calendar Year 2022 4th Quarter of 2022
Days Traded at Premium
133
30
Days Traded at Discount
117
33
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.
Ticker Name Quantity Weight
CDX SIMPLIFY HIGH YIELD PL CR HD 262608 28.37%
TYA SIMPLIFY RISK PARITY TREASUR 279127 22.03%
SVOL SIMPLIFY VOLATILITY PREMIUM 180785 20.39%
PFIX Simplify Interest Rate Hedge ETF 42025 12.34%
TUA Simplify Short Term Treasury Futures ETF 34821 4.28%
HIGH Simplify Enhanced Income ETF 18938 2.38%
BUCK Simplify Stable Income ETF 18863 2.36%
AGGH SIMPLIFY AGGR BD PL CR HD ET 13163 1.49%
SPXW US 02/13/23 C4300 SPXW Feb 2023 4300 Call 180 0.06%
SPXW US 02/17/23 P3780 SPXW Feb 2023 3780 Put 73 0.10%
SPXW US 03/17/23 P3780 SPXW Mar 2023 3780 Put 79 0.79%
VIX US 03/22/23 C35 VIX Mar 2023 35 Call 26950 6.67%
VIX US 03/22/23 C26 VIX Mar 2023 26 Call 2897 1.66%
VIX US 03/22/23 C22 VIX Mar 2023 22 Call 1635 1.58%
VIX US 03/22/23 C30 VIX Mar 2023 30 Call -1635 -0.61%
VIX US 03/22/23 C40 VIX Mar 2023 40 Call -26950 -4.78%
- Estimated Cash 180751 0.90%

Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date Record Date Payable Date Ordinary Income Short Term Capital Gains Long Term Capital Gains Return of Capital Total Distribution
$0.29263 $0.00000 $0.00000 $0.00000 $0.29263
$0.14645 $0.00000 $0.00000 $0.00000 $0.14645
$0.07327 $0.00000 $0.00000 $0.00000 $0.07327
$0.11448 $0.00000 $0.00000 $0.00000 $0.11448
$0.10453 $0.00000 $0.00000 $0.00000 $0.10453
View Distribution History