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MAXI

Simplify Bitcoin Strategy PLUS Income ETF

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as of 09/20/2023

NAV

$ 15.53

NAV Change

- $ 0.16 /1.02%

Price

$ 15.58

Price Change

- $ 0.07 /0.45%
The Simplify Bitcoin Strategy PLUS Income ETF (MAXI) seeks capital gains and income by providing investors with exposure to bitcoin while simultaneously generating income by selling short-dated put or call spreads on the most liquid global equity indices.

The fund is designed to be a capital efficient way to simultaneously invest in bitcoin and potentially generate significant income. The fund can also be viewed as bitcoin exposure with a downside buffer, by virtue of the padding the income may create to any bitcoin drawdowns.*

*The fund does not invest in bitcoin directly; it invests in bitcoin futures.
 
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Documents

Fund Overview

As of 09/20/2023

Ticker Symbol
MAXI
Gross Expense Ratio
0.97%
CUSIP
82889N673
Total Assets
$22,359,669.41
Shares Outstanding
1,440,001
Distribution Yield as of 08/31/2023 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.
11.99%
Distribution Frequency
Monthly
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.
-
Unsubsidized 30-Day SEC Yield as of 08/31/2023
-
Options Available
No
Inception Date
09/29/2022
Premium/Discount (%) as of 09/20/2023
0.32%
NAV Per Share as of 09/20/2023
$15.53
Market Price as of 09/20/2023
$15.58
30-Day Median Bid-Ask Spread
0.47%
Bid/Ask
$15.51/$15.66
Midpoint Price
$15.59
Volume
1,503
NAV Symbol
MAXI.NV
IOPV Symbol
MAXI.IV
Shares Out. Symbol
MAXI.SO
Schedule K-1
No

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 0.85%
Distribution and Service (12b-1) Fees 0.00%
Other Expenses1 0.10%
Acquired Fund Fees and Expenses2 0.02%
Total Annual Fund Operating Expenses 0.97%
1. Other Expenses (composed of interest expense) are estimated for the Fund’s initial fiscal year.

2. 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 -10.86% -3.81% 10.48% 53.88% — 33.77%
Market Price -10.72% -3.77% 10.65% 54.42% — 33.88%
Annualized 1 Year 3 Year Since Inception
NAV — — —
Market Price — — —
Cumulative 1 Year Since Inception
NAV — 58.15%
Market Price — 60.09%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV — — — —
Market Price — — — —
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 2022 2nd Quarter of 2023
Days Traded at Premium
36
43
Days Traded at Discount
28
18
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
BTCU3 CUR CME Bitcoin Fut Sep23 66 39.85%
BTCV3 CUR CME Bitcoin Fut Oct23 99 60.14%
TLT US 09/22/23 C101 TLT Sep 2023 101 Call 3234 0.01%
TLT US 09/22/23 P86 TLT Sep 2023 86 Put 2418 0.01%
- TREASURY BILL DN 10/23 74000000 330.54%
- TREASURY BILL DN 11/23 600000 2.67%
- TREASURY BILL DN 12/23 3000000 13.25%
- TREASURY BILL DN 12/23 2700000 11.92%
- TREASURY BILL DN 12/23 12000000 52.97%
- TREASURY BILL DN 12/23 300000 1.32%
- Estimated Cash -69789453 -312.28%

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
$0.15000 $0.00000 $0.00000 $0.00000 $0.15000
$0.15000 $0.00000 $0.00000 $0.00000 $0.15000
$0.15000 $0.00000 $0.00000 $0.00000 $0.15000
$0.15000 $0.00000 $0.00000 $0.00000 $0.15000
$0.15000 $0.00000 $0.00000 $0.00000 $0.15000
View Distribution History

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