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HIGH

Simplify Enhanced Income ETF

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As of 09/17/2025

NAV

$ 23.25

NAV Change

- $ 0.04 /0.17%

Price

$ 23.24

Price Change

- $ 0.09 /0.39%
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 09/17/2025

Ticker Symbol
HIGH
Gross Expense Ratio
0.52%
CUSIP
82889N632
Total Assets
$189,501,154.70
Shares Outstanding
8,150,001
Distribution Rate as of 08/31/2025 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.
8.31%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 08/31/2025 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 08/31/2025
4.88%
Portfolio Duration
0.11
Options Available
No
Inception Date
10/27/2022
Premium/Discount (%) as of 09/17/2025
-0.05%
NAV Per Share as of 09/17/2025
$23.25
Market Price as of 09/17/2025
$23.24
30-Day Median Bid-Ask Spread
0.25%
Bid/Ask
$23.23/$23.30
Midpoint Price
$23.27
Volume
28,680
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 92% 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 08/31/2025 06/30/2025

Monthly Quarterly Annually
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV 0.26% -1.40% 6.90% 5.23% 5.37% 15.98%
Market Price 0.51% -1.39% 6.99% 5.44% 5.51% 15.58%
Annualized 1 Year 3 Year Since Inception
NAV 5.37% — 5.35%
Market Price 5.51% — 5.23%
Cumulative 1 Year Since Inception
NAV 6.95% 19.69%
Market Price 7.19% 19.49%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV 6.95% — — 6.95%
Market Price 7.19% — — 6.89%
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.

Growth of $10,000

The Growth of $10,000 chart reflects a hypothetical investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted. Results are not indicative of future performance. 

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 09/17/2025

Holdings - All ETFs
Ticker Name Quantity Weight
SBIL SIMPLIFY E GOVT MONEY MKT ETF 1,555,000 82.29%
NDXP US 09/26/25 P22000 NDXP Sep 2025 22000 Put 38 0.02%
NDXP US 09/26/25 P23000 NDXP Sep 2025 23000 Put -38 -0.06%
NDXP US 10/01/25 P22000 NDXP Oct 2025 22000 Put 19 0.02%
NDXP US 10/01/25 P23000 NDXP Oct 2025 23000 Put -19 -0.05%
RUTW US 09/26/25 P2175 RUTW Sep 2025 2175 Put 400 0.03%
RUTW US 09/26/25 P2275 RUTW Sep 2025 2275 Put -400 -0.08%
RUTW US 10/01/25 P2170 RUTW Oct 2025 2170 Put 197 0.02%
RUTW US 10/01/25 P2270 RUTW Oct 2025 2270 Put -197 -0.06%
SPXW US 09/18/25 C6700 SPXW Sep 2025 6700 Call 1,145 0.03%
SPXW US 09/19/25 P6200 SPXW Sep 2025 6200 Put 227 0.01%
SPXW US 09/26/25 P6050 SPXW Sep 2025 6050 Put 130 0.01%
SPXW US 09/26/25 P6350 SPXW Sep 2025 6350 Put -130 -0.05%
SPXW US 10/01/25 P6000 SPXW Oct 2025 6000 Put 64 0.01%
SPXW US 10/01/25 P6300 SPXW Oct 2025 6300 Put -64 -0.03%
SPXW US 10/03/25 C6670 SPXW Oct 2025 6670 Call 72 0.15%
SPXW US 10/08/25 C6690 SPXW Oct 2025 6690 Call 70 0.15%
T Bills UNITED STS TREAS BILLS 0.0 28OCT25 23,500,000 12.35%
T Bills UNITED STS TREAS BILLS 0.0 11DEC25 9,000,000 4.71%
- Estimated Cash 1,015,876 0.54%

Holdings are subject to change without notice.

Recent Distributions

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