CYA

Simplify Tail Risk Strategy ETF

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as of 05/31/2023

NAV

$ 7.19

NAV Change

+ $ 0.04 /0.56%

Price

$ 7.14

Price Change

+ $ 0.00 /0.00%
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 05/31/2023

Ticker Symbol
CYA
Gross Expense Ratio
1.09%
Net Expense Ratio
0.84%
CUSIP
82889N780
Total Assets
$18,508,703.43
Shares Outstanding
2,575,001
SEC 30-Day Yield as of 04/30/2023 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.
7.56%
Unsubsidized 30-Day SEC Yield as of 04/30/2023
6.91%
Distribution Frequency
Monthly
Distribution Yield as of 04/30/2023 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.
7.63%
Options Available
No
Inception Date
09/13/2021
Premium/Discount (%) as of 05/31/2023
-0.67%
NAV
$7.19
NAV Per Share as of 05/31/2023
$7.19
Market Price as of 05/31/2023
$7.14
30-Day Median Bid-Ask Spread
1.32%
Bid/Ask
$7.05/$7.30
Midpoint Price
$7.18
Volume
12,794
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 04/30/2023 03/31/2023

Monthly Quarterly
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV -14.76% -26.58% -43.57% -32.07% -59.20% -64.28%
Market Price -14.44% -25.26% -43.82% -31.53% -59.29% -64.16%
Annualized 1 Year 3 Year Since Inception
NAV -59.20% — -46.88%
Market Price -59.29% — -46.82%
Cumulative 1 Year Since Inception
NAV -50.53% -58.10%
Market Price -50.08% -58.11%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV -50.53% — — -43.05%
Market Price -50.08% — — -43.11%
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 1st Quarter of 2023
Days Traded at Premium
134
22
Days Traded at Discount
117
40
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
AGGH SIMPLIFY AGGR BD PL CR HD ET 226200 27.82%
BUCK Simplify Stable Income ETF 101249 13.71%
CDX SIMPLIFY HIGH YIELD PL CR HD 60325 7.12%
HIGH Simplify Enhanced Income ETF 100642 13.59%
PFIX Simplify Interest Rate Hedge ETF 48848 17.45%
SVOL SIMPLIFY VOLATILITY PREMIUM 113259 13.52%
HYG US 06/16/23 P73 HYG Jun 2023 73 Put 2000 0.25%
QQQ US 07/21/23 C368 QQQ Jul 2023 368 Call -520 -0.83%
QQQ US 07/21/23 P330 QQQ Jul 2023 330 Put 520 1.25%
SPXW US 06/05/23 P4100 SPXW Jun 2023 4100 Put 145 0.40%
SPXW US 06/16/23 P3630 SPXW Jun 2023 3630 Put -281 -0.44%
SPXW US 06/16/23 P3840 SPXW Jun 2023 3840 Put 281 0.84%
SPXW US 07/21/23 P3650 SPXW Jul 2023 3650 Put -271 -1.78%
SPXW US 07/21/23 P3780 SPXW Jul 2023 3780 Put -115 -1.12%
SPXW US 07/21/23 P3855 SPXW Jul 2023 3855 Put 271 3.40%
SPXW US 07/21/23 P3900 SPXW Jul 2023 3900 Put 115 1.69%
SPXW US 08/31/23 P3650 SPXW Aug 2023 3650 Put -219 -3.35%
SPXW US 08/31/23 P3800 SPXW Aug 2023 3800 Put 219 4.84%
- Estimated Cash 305332 1.65%

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
$0.04000 $0.00000 $0.00000 $0.00000 $0.04000
$0.05000 $0.00000 $0.00000 $0.00000 $0.05000
$0.03000 $0.00000 $0.00000 $0.00000 $0.03000
$0.03000 $0.00000 $0.00000 $0.00000 $0.03000
$0.29263 $0.00000 $0.00000 $0.00000 $0.29263
View Distribution History