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HIGH

Simplify Enhanced Income ETF

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As of 07/02/2025

NAV

$ 24.26

NAV Change

+ $ 0.21 /0.87%

Price

$ 24.28

Price Change

+ $ 0.20 /0.83%
The Simplify Enhanced Income ETF (HIGH) seeks to provide monthly income by selling short-dated put and/or call spreads on a variety of equity and fixed income instruments, which may include indices, ETFs or individual securities.

The fund is intended to be an alternative high yield solution, as it seeks to provide significant supplemental income to T-bills with low correlation to traditional credit and duration exposure.

A sophisticated option-writing algorithm seeks to sell spreads that generate attractive risk-adjusted returns, while an additional layer of risk management helps manage tail risk associated with selling options.
 
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Fund Overview

As of 07/02/2025

Ticker Symbol
HIGH
Gross Expense Ratio
0.52%
CUSIP
82889N632
Total Assets
$192,830,678.45
Shares Outstanding
7,950,001
Distribution Rate as of 05/31/2025 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.
10.03%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 05/31/2025 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.
-
30-Day SEC Yield (Unsubsidized) as of 05/31/2025
3.72%
Portfolio Duration
0.09
Options Available
No
Inception Date
10/27/2022
Premium/Discount (%) as of 07/02/2025
0.10%
NAV Per Share as of 07/02/2025
$24.26
Market Price as of 07/02/2025
$24.28
30-Day Median Bid-Ask Spread
0.46%
Bid/Ask
$24.21/$24.29
Midpoint Price
$24.25
Volume
22,522
NAV Symbol
HIGH.NV
IOPV Symbol
HIGH.IV
Shares Out. Symbol
HIGH.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 52% 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 Fees0.50%
Distribution and Service (12b-1) Fees0.00%
Other Expenses10.02%
Total Annual Fund Operating Expenses0.52%

1. Other Expenses include interest expenses of 0.02%.

Fund Performance (Total Return)

As of 05/31/2025 03/31/2025

Monthly Quarterly Annually
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV 1.91% 8.42% 4.85% 6.73% 5.34% 17.63%
Market Price 1.55% 8.50% 4.97% 6.92% 5.41% 17.21%
Annualized 1 Year 3 Year Since Inception
NAV 5.34% — 6.46%
Market Price 5.41% — 6.32%
Cumulative 1 Year Since Inception
NAV -3.27% 6.49%
Market Price -3.50% 5.91%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV -3.27% — — 2.63%
Market Price -3.50% — — 2.40%
Calendar Year NAV Market Price
2024 1.77% 1.52%
2023 7.51% 7.70%
2022 — —
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. 

The Adviser has voluntarily agreed to limit fees. This agreement may change or end at any time. Performance would have been lower without limitations in effect.

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 2024 2nd Quarter of 2025
Days Traded at Premium
125
29
Days Traded at Discount
127
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.

Portfolio Holdings

As of 07/02/2025

Holdings - All ETFs
Ticker Name Quantity Weight
GLD US 07/09/25 P285 GLD Jul 2025 285 Put 1,904 0.00%
GLD US 07/09/25 P295 GLD Jul 2025 295 Put -1,904 -0.01%
GLD US 07/11/25 P280 GLD Jul 2025 280 Put 1,952 0.00%
GLD US 07/11/25 P290 GLD Jul 2025 290 Put -1,952 -0.01%
GLD US 07/16/25 P287 GLD Jul 2025 287 Put 1,992 0.01%
GLD US 07/16/25 P297 GLD Jul 2025 297 Put -1,992 -0.04%
NDXP US 07/11/25 P20450 NDXP Jul 2025 20450 Put 19 0.00%
NDXP US 07/11/25 P21450 NDXP Jul 2025 21450 Put -19 -0.01%
NDXP US 07/16/25 P20600 NDXP Jul 2025 20600 Put 38 0.02%
NDXP US 07/16/25 P21600 NDXP Jul 2025 21600 Put -38 -0.09%
RUTW US 07/16/25 P2000 RUTW Jul 2025 2000 Put 200 0.02%
RUTW US 07/16/25 P2100 RUTW Jul 2025 2100 Put -200 -0.05%
SPXW US 07/02/25 P5800 SPXW Jul 2025 5800 Put 256 0.00%
SPXW US 07/03/25 P5900 SPXW Jul 2025 5900 Put 293 0.00%
SPXW US 07/07/25 C6300 SPXW Jul 2025 6300 Call 287 0.05%
SPXW US 07/07/25 P6000 SPXW Jul 2025 6000 Put 250 0.01%
SPXW US 07/09/25 C6275 SPXW Jul 2025 6275 Call 686 0.64%
SPXW US 07/09/25 P6000 SPXW Jul 2025 6000 Put 267 0.03%
SPXW US 07/16/25 P5650 SPXW Jul 2025 5650 Put 126 0.01%
SPXW US 07/16/25 P5700 SPXW Jul 2025 5700 Put 132 0.02%
SPXW US 07/16/25 P5960 SPXW Jul 2025 5960 Put -126 -0.05%
SPXW US 07/16/25 P6000 SPXW Jul 2025 6000 Put -132 -0.07%
SPXW US 07/18/25 C6300 SPXW Jul 2025 6300 Call 671 1.24%
SPXW US 07/31/25 C6500 SPXW Jul 2025 6500 Call 2,304 1.22%
SPXW US 08/15/25 C6400 SPXW Aug 2025 6400 Call 175 0.48%
SPXW US 08/15/25 C6650 SPXW Aug 2025 6650 Call 438 0.15%
T Bills UNITED STS TREAS BILLS 0.0 08JUL25 28,000,000 14.51%
T Bills UNITED STS TREAS BILLS 0.0 29JUL25 1,500,000 0.78%
T Bills UNITED STS TREAS BILLS 0.0 05AUG25 136,500,000 70.51%
T Bills UNITED STS TREAS BILLS 0.0 26AUG25 7,600,000 3.92%
T Bills UNITED STS TREAS BILLS 0.0 30SEP25 12,000,000 6.16%
- Estimated Cash 1,104,442 0.57%

Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date Record Date Payable Date Total Distribution
N/A
$0.16000
$0.20000
$0.15000
$0.10000
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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