NMB Simplify National Muni Bond ETF
The Simplify National Muni Bond ETF (NMB) seeks income with capital appreciation as a secondary objective.
NMB invests primarily in investment-grade U.S. municipal bonds with attractive tax-free yields. As an actively managed strategy, it pursues opportunistic investing in municipal securities overlooked by passive mandates.
Municipal bond index funds contain legacy positions with lower yields and less liquidity. NMB attempts to take advantage of the relatively fragmented and inefficient muni bond market to maximize current yield and relative value.
The fund is sub-advised by Foundation Credit, a specialist firm managing municipal and credit portfolios.
Why Invest in NMB?
Fund Overview
As of 09/25/2026
Ticker Symbol
NMB
Expense Ratio
0.52%
CUSIP
82889N442
Total Assets
$46,286,656.68
Shares Outstanding
2,000,001
Distribution Rate as of 08/31/2026
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.3.97%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 08/31/2026
4.07%
30-Day SEC Yield (Unsubsidized) as of 08/31/2026
4.07%
Portfolio Duration
N/A
Options Available
No
Inception Date
09/09/2024
Premium/Discount (%) as of 09/25/2026
-0.01%
NAV Per Share as of 09/25/2026
$23.14
Market Price as of 09/25/2026
$23.14
30-Day Median Bid-Ask Spread
0.34%
Bid/Ask
$23.11/$23.20
Midpoint Price
$23.16
Volume
887
NAV Symbol
NMB.NV
IOPV Symbol
NMB.IV
Shares Out. Symbol
NMB.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. The distribution may include a combination of ordinary dividends, capital gains, and return of investor capital and has the potential to change during any given tax year. Please refer to the 19a-1 Notice, which can be found on the Fund’s website, for information regarding the composition of distributions, including return of capital. The final determination of a distribution’s tax character will be made on Form 1099-DIV.
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% |
| Acquired Fund Fees and Expenses1 | 0.01% |
| Other Expenses2 | 0.01% |
| Total Annual Fund Operating Expenses | 0.52% |
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 because the financial statements include only the direct operating expenses incurred by the Fund.
2. Other Expenses are estimated for the Fund’s initial fiscal year.
Fund Performance (Total Return)
As of 08/31/2026 06/30/2026
| Cumulative | 1 Month | 3 Month | 6 Month | YTD | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|---|---|---|---|
| NAV | -0.52% | -0.87% | -0.15% | 0.13% | 5.91% | — | — | 6.04% |
| Market Price | -0.53% | -0.49% | 0.25% | 0.29% | 6.23% | — | — | 6.24% |
| Annualized | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | 5.91% | — | — | 3.01% |
| Market Price | 6.23% | — | — | 3.12% |
| Cumulative | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | 5.65% | — | — | 8.60% |
| Market Price | 4.85% | — | — | 8.37% |
| Annualized | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | 5.65% | — | — | 4.68% |
| Market Price | 4.85% | — | — | 4.56% |
| Calendar Year | NAV | Market Price |
|---|---|---|
| 2025 | 7.63% | 8.01% |
| 2024 | — | — |
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.
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.
The chart above presents the Fund's daily premium or discount relative to its Net Asset Value (NAV) during the period shown. A premium occurs when the market price of the Fund's shares is greater than the Fund's NAV, while a discount occurs when the market price is less than the Fund's NAV. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time the Fund's NAV is calculated (usually 4:00 p.m. Eastern Time). The horizontal axis shows the trading dates during the period presented. The vertical axis shows the daily premium or discount expressed as a percentage of NAV. Each bar represents the Fund's premium or discount on a particular trading day. Bars above 0% indicate that the Fund traded at a premium to NAV, while bars below 0% indicate that the Fund traded at a discount to NAV. Past premiums and discounts are not indicative of future results.
Portfolio Holdings
| Ticker | Name | Quantity | Weight |
|---|---|---|---|
| ALDSCD | ALDINE TEX INDPT SCH 4.375 15FEB51 | 2,000,000 | 3.78% |
| ALDSCD | ALDINE TEX INDPT SCH DI 4.0 15FEB54 | 1,540,000 | 2.67% |
| ASTGEN | AUSTIN TEX SPL TAX REV 5.25 15NOV56 | 1,500,000 | 3.22% |
| ATLAPT | ATLANTA GA ARPT REV 5.25 01JUL56 | 2,000,000 | 4.34% |
| ATRTRN | ALABAMA TOLL RD BRDG + 5.5 01JAN61 | 1,000,000 | 2.18% |
| ATRTRN | ALABAMA TOLL RD BRDG + 5.0 01JAN66 | 500,000 | 1.00% |
| AUSAPT | AUSTIN TEX ARPT SYS RE 5.25 15NOV51 | 1,500,000 | 3.15% |
| CHITRN | CHICAGO ILL O HARE INTL 5.0 01JAN56 | 1,000,000 | 1.98% |
| FLSTRN | FLORIDA ST TPK AUTH TPK 4.0 01JUL51 | 1,000,000 | 1.77% |
| HAYSCD | HAYS TEX CONS INDPT SCH 4.5 15AUG56 | 1,000,000 | 1.89% |
| HILMEC | HILLSBOROUGH CNTY FLA I 5.5 15NOV54 | 2,000,000 | 4.38% |
| JACAPT | JACKSONVILLE FLA AVIAT 5.25 01OCT55 | 2,000,000 | 4.18% |
| JACPWR | JEA FLA ELEC SYS REV 5.25 01OCT56 | 1,500,000 | 3.19% |
| JACUTL | JEA FLA WTR + SWR SYS R 5.0 01OCT56 | 1,000,000 | 2.04% |
| LEEAPT | LEE CNTY FLA ARPT REV 5.5 01OCT51 | 1,500,000 | 3.21% |
| MAS | MASSACHUSETTS ST 5.25 01JUN56 | 1,000,000 | 2.17% |
| MDCTRN | MIAMI-DADE CNTY FLA SEA 5.5 01OCT56 | 1,500,000 | 3.22% |
| MDLSCD | MIDLOTHIAN TEX INDPT 4.375 15FEB56 | 1,750,000 | 3.24% |
| MDSTRN | MARYLAND ST TRANSN AUTH 5.0 01JUL53 | 2,000,000 | 4.23% |
| MDUMED | MEDICAL UNIV S C HOSP A 5.5 15NOV50 | 500,000 | 1.09% |
| MIATRN | MIAMI-DADE CNTY FLA AV 5.25 01OCT55 | 500,000 | 1.05% |
| MISFAC | MICHIGAN ST BLDG AUTH 5.25 15APR60 | 1,000,000 | 2.15% |
| MNVAPT | METROPOLITAN NASHVILLE 5.0 01JUL51 | 1,250,000 | 2.62% |
| MNVAPT | METROPOLITAN NASHVILLE 5.5 01JUL56 | 1,000,000 | 2.16% |
| MOSMED | MISSOURI ST HEALTH + ED 5.5 15MAY54 | 1,160,000 | 2.55% |
| MOSMED | MISSOURI ST HEALTH + ED 5.0 15JUL56 | 1,000,000 | 1.99% |
| MOSSFH | MISSOURI ST HSG DEV CO 4.95 01NOV50 | 1,000,000 | 2.04% |
| NJSTRN | NEW JERSEY ST TRANSN T 5.0 15JUN50 | 1,500,000 | 3.10% |
| NJSTRN | NEW JERSEY ST TRANSN T 5.0 15JUN56 | 500,000 | 1.01% |
| NYCUTL | NEW YORK N Y CITY MUN 4.25 15JUN54 | 500,000 | 0.91% |
| NYSHGR | NEW YORK ST DORM AUTH S 4.0 15MAR54 | 1,500,000 | 2.57% |
| NYSHGR | NEW YORK ST DORM AUTH R 5.0 01NOV56 | 1,000,000 | 2.03% |
| NYSTRN | NEW YORK ST TWY AUTH 4.125 15MAR56 | 1,500,000 | 2.61% |
| PASMED | PENNSYLVANIA ECONOMIC D 4.5 15DEC51 | 1,500,000 | 2.80% |
| SAVUTL | SAVANNAH GA WTR + SEW R 4.5 01DEC56 | 1,000,000 | 1.90% |
| SFOAPT | SAN FRANCISCO CALIF CI 5.25 01MAY55 | 1,000,000 | 2.10% |
| SFOAPT | SAN FRANCISCO CALIF CIT 5.5 01MAY55 | 500,000 | 1.08% |
| TRBTRN | TRIBOROUGH BRDG + TUNL 4.0 15NOV54 | 500,000 | 0.86% |
| - | Estimated Cash | 3,496,692 | 7.55% |
Holdings are subject to change without notice.
Recent Distributions
| Ex-Dividend Date | Record Date | Payable Date | Total Distribution |
|---|---|---|---|
| N/A | |||
| $0.08000 | |||
| $0.08000 | |||
| $0.08000 | |||
| $0.08000 |
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.
