HEQT

Simplify Hedged Equity ETF

as of 09/20/2023

NAV

$ 24.86

NAV Change

- $ 0.16 /0.64%

Price

$ 24.86

Price Change

- $ 0.16 /0.64%

The Simplify Hedged Equity ETF (HEQT) seeks to provide capital appreciation by offering US large cap exposure while investing in a series of put-spread collars designed to help reduce volatility.

Equities + put-spread collars have become a popular way to create more conservative, lower volatility equity investments. By deploying a ladder of collars, that expire over 3 sequential months, the fund seeks to create a hedged equity experience that is additionally robust to rebalancing luck.

Documents

HEQT Overview

HEQT Fund Deep Dive

Fund Overview

As of 09/20/2023

Ticker Symbol

HEQT

Gross Expense Ratio

0.53%

CUSIP

82889N764

Total Assets

$111,853,623.26

Shares Outstanding

4,500,001

Distribution Yield as of 06/30/2023 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.

1.29%

Distribution Frequency

Quarterly

SEC 30-Day Yield as of 08/31/2023 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.

1.00%

Options Available

Yes

Inception Date

11/01/2021

Premium/Discount (%) as of 09/20/2023

0.01%

NAV Per Share as of 09/20/2023

$24.86

Market Price as of 09/20/2023

$24.86

30-Day Median Bid-Ask Spread

0.12%

Bid/Ask

$24.84/$24.88

Midpoint Price

$24.86

Volume

12,706

NAV Symbol

HEQT.NV

IOPV Symbol

HEQT.IV

Shares Out. Symbol

HEQT.SO

Schedule K-1

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	0.50%
Distribution and Service (12b-1) Fees	0.00%
Other Expenses	0.00%
Interest Expense	0.00%
Acquired Fund Fees and Expenses¹	0.03%
Total Annual Fund Operating Expenses	0.53%

1. Acquired Fund Fees and Expenses, which are estimated for the Fund’s initial fiscal year, 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.

Fund Performance

As of 08/31/2023 06/30/2023

Monthly Quarterly

Cumulative	1 Month	3 Month	6 Month	YTD	1 Year	Since Inception
NAV	0.13%	4.29%	9.14%	12.66%	11.41%	5.78%
Market Price	-0.08%	4.00%	8.93%	12.36%	11.26%	5.31%

Annualized	1 Year	3 Year	Since Inception
NAV	11.41%	—	3.12%
Market Price	11.26%	—	2.87%

Cumulative	1 Year	Since Inception
NAV	12.65%	4.25%
Market Price	12.49%	3.72%

Annualized	1 Year	3 Year	5 Year	Since Inception
NAV	12.65%	—	—	2.54%
Market Price	12.49%	—	—	2.23%

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	2nd Quarter of 2023
Days Traded at Premium	140	39
Days Traded at Discount	111	23

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 09/20/2023

Ticker	Name	Quantity	Weight
IVV	ISHARES S+P 500 INDEX FUND	249857	98.87%
SPX US 10/20/23 C4750	S&P 500 Index Oct 2023 4750 Call	-82	0.00%
SPX US 10/20/23 P3625	S&P 500 Index Oct 2023 3625 Put	-82	-0.01%
SPX US 10/20/23 P4310	S&P 500 Index Oct 2023 4310 Put	82	0.23%
SPX US 11/17/23 C4590	S&P 500 Index Nov 2023 4590 Call	-84	-0.19%
SPX US 11/17/23 P3500	S&P 500 Index Nov 2023 3500 Put	-84	-0.03%
SPX US 11/17/23 P4150	S&P 500 Index Nov 2023 4150 Put	84	0.20%
SPX US 12/15/23 C4730	S&P 500 Index Dec 2023 4730 Call	-83	-0.11%
SPX US 12/15/23 P3600	S&P 500 Index Dec 2023 3600 Put	-83	-0.07%
SPX US 12/15/23 P4285	S&P 500 Index Dec 2023 4285 Put	83	0.49%
-	Estimated Cash	705328	0.63%

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
06/27/2023	06/28/2023	07/03/2023	$0.08000	$0.00000	$0.00000	$0.00000	$0.08000
03/27/2023	03/28/2023	03/31/2023	$0.08000	$0.00000	$0.00000	$0.00000	$0.08000
12/27/2022	12/28/2022	12/30/2022	$0.38198	$0.00000	$0.42597	$0.00000	$0.80795
06/27/2022	06/28/2022	06/30/2022	$0.08025	$0.00000	$0.00000	$0.00000	$0.08025
12/27/2021	12/28/2021	12/30/2021	$0.06905	$0.00000	$0.00000	$0.00000	$0.06905

View Distribution History

DISTRIBUTION CALENDAR

HEQT

Simplify Hedged Equity ETF

NAV

NAV Change

Price

Price Change

Documents

Can Hedged Equity Complement The 60/40? 2022 Says “Yes”.

HEQT Overview

HEQT Fund Deep Dive

Fund Overview

Distribution Yield Close

SEC 30-Day Yield Close

Management Fees

Fund Performance

Historical Premium/Discount

Portfolio Holdings

Holdings are subject to change without notice.

Recent Distributions

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