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NMB

Simplify National Muni Bond ETF

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As of 07/03/2025

NAV

$ 25.25

NAV Change

+ $ 0.35 /1.41%

Price

$ 25.36

Price Change

+ $ 0.31 /1.24%
The Simplify National Muni Bond ETF (NMB) seeks income with capital appreciation as a secondary objective.

The fund is an actively managed ETF that seeks to achieve its investment objective by investing primarily in investment-grade U.S. municipal bonds, with attractive tax-free yields.

NMB also employs an actively managed municipal bond strategy that pursues opportunistic investing in securities overlooked by passive mandates. In addition, the fund runs a diversified, multi-asset options writing strategy seeking to further enhance returns.

Foundation Credit is the fund's Subadvisor for the municipal portfolio. 
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Documents

Fund Overview

As of 07/03/2025

Ticker Symbol
NMB
Gross Expense Ratio
0.52%
CUSIP
82889N442
Total Assets
$75,118,190.39
Shares Outstanding
2,975,001
Distribution Rate as of 03/31/2025 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.
4.58%
Distribution Frequency
Quarterly
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
4.07%
Portfolio Duration
10.26
Options Available
No
Inception Date
09/09/2024
Premium/Discount (%) as of 07/03/2025
0.44%
NAV Per Share as of 07/03/2025
$25.25
Market Price as of 07/03/2025
$25.36
30-Day Median Bid-Ask Spread
0.28%
Bid/Ask
$25.23/$25.27
Midpoint Price
$25.25
Volume
11,526
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. Distribution includes an estimated 0% 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%
Acquired Fund Fees and Expenses10.01%
Other Expenses20.01%
Total Annual Fund Operating Expenses0.52%

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 05/31/2025 03/31/2025

Monthly Quarterly Annually
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV 0.29% 4.17% -1.28% 2.85% — 1.23%
Market Price 0.69% 4.27% -1.46% 3.15% — 1.16%
Annualized 1 Year 3 Year Since Inception
NAV — — —
Market Price — — —
Cumulative 1 Year Since Inception
NAV — -7.11%
Market Price — -7.47%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV — — — —
Market Price — — — —
Calendar Year NAV Market Price
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.

Historical Premium/Discount

Calendar Year 2024 2nd Quarter of 2025
Days Traded at Premium
39
36
Days Traded at Discount
40
26
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 07/03/2025

Holdings - All ETFs
Ticker Name Quantity Weight
CEDSCD CEDAR HILL TEX INDPT SC 4.0 15FEB50 3,000,000 3.57%
CHAAPT CHARLOTTE N C ARPT REV 5.25 01JUL55 2,000,000 2.78%
CHITRN CHICAGO ILL O HARE INTL 5.5 01JAN59 2,500,000 3.49%
CLTSCD CARROLLTON TEX FMRS BRH 4.0 15FEB53 2,380,000 2.79%
DENAPT DENVER COLO CITY + CN 4.125 15NOV53 3,150,000 3.63%
DTRFAC DOWNTOWN REVITALIZATION 5.5 01JUN55 2,000,000 2.81%
FLSTRN FLORIDA ST TPK AUTH TPK 4.0 01JUL51 2,000,000 2.34%
FLSTRN FLORIDA ST TPK AUTH TPK 4.0 01JUL54 2,500,000 2.91%
HRDTRN HAMPTON RDS VA TRANS AC 4.0 01JUL57 2,750,000 3.16%
LOSAPT LOS ANGELES CALIF DEPT 5.0 15MAY55 2,000,000 2.69%
LWCGEN LOWER COLO RIV AUTH TEX 5.0 15MAY55 2,000,000 2.69%
MASDEV MASSACHUSETTS ST DEV FI 5.0 01JUL55 2,000,000 2.73%
MDCTRN MIAMI-DADE CNTY FLA SEA 3.0 01OCT50 1,930,000 1.81%
NMSHSG NEW MEXICO MTG FIN AUTH 5.1 01SEP55 1,500,000 2.00%
NRTUTL NORTH TEX MUN WTR DIST 5.0 01JUN55 2,000,000 2.71%
NRTWTR NORTH TEX MUN WTR DIST 5.0 01SEP55 2,500,000 3.38%
NYCGEN NEW YORK N Y CITY TRANS 3.0 01AUG48 3,000,000 2.86%
NYCUTL NEW YORK N Y CITY MUN 5.25 15JUN53 2,335,000 3.25%
NYSHGR NEW YORK ST DORM AUTH S 4.0 15MAR54 3,500,000 4.09%
OKSTRN OKLAHOMA ST TPK AUTH T 4.25 01JAN55 2,000,000 2.45%
OKSTRN OKLAHOMA CAP IMPT AUTH 5.25 01JUL55 2,000,000 2.79%
PASDEV PENNSYLVANIA ECONOMIC D 4.0 01AUG54 2,410,000 2.83%
PASHGR PENNSYLVANIA ST HIGHER 5.5 15AUG55 2,000,000 2.79%
PASTRN PENNSYLVANIA ST TPK C 4.125 01DEC50 2,000,000 2.47%
PHIUTL PHILADELPHIA PA GAS WK 5.25 01AUG54 1,500,000 2.08%
PHOAPT PHOENIX ARIZ CIVIC IMP 3.25 01JUL49 2,000,000 1.94%
SDGAPT SAN DIEGO CNTY CALIF RE 5.0 01JUL53 3,000,000 3.96%
SDGAPT SAN DIEGO CNTY CALIF RE 5.0 01JUL56 3,000,000 3.92%
SFOAPT SAN FRANCISCO CALIF CIT 5.5 01MAY55 2,500,000 3.49%
GLD US 07/16/25 P287 GLD Jul 2025 287 Put 382 0.01%
GLD US 07/16/25 P297 GLD Jul 2025 297 Put -382 -0.03%
NDXP US 07/16/25 P20600 NDXP Jul 2025 20600 Put 6 0.01%
NDXP US 07/16/25 P21600 NDXP Jul 2025 21600 Put -6 -0.02%
RUTW US 07/16/25 P2000 RUTW Jul 2025 2000 Put 38 0.01%
RUTW US 07/16/25 P2100 RUTW Jul 2025 2100 Put -38 -0.02%
SPXW US 07/07/25 C6300 SPXW Jul 2025 6300 Call 55 0.07%
SPXW US 07/07/25 P6000 SPXW Jul 2025 6000 Put 48 0.00%
SPXW US 07/07/25 P6225 SPXW Jul 2025 6225 Put 60 0.05%
SPXW US 07/09/25 C6275 SPXW Jul 2025 6275 Call 150 0.72%
SPXW US 07/09/25 P6000 SPXW Jul 2025 6000 Put 52 0.01%
SPXW US 07/16/25 P5650 SPXW Jul 2025 5650 Put 24 0.01%
SPXW US 07/16/25 P5700 SPXW Jul 2025 5700 Put 25 0.01%
SPXW US 07/16/25 P5960 SPXW Jul 2025 5960 Put -24 -0.02%
SPXW US 07/16/25 P6000 SPXW Jul 2025 6000 Put -25 -0.02%
SPXW US 07/18/25 C6300 SPXW Jul 2025 6300 Call 157 1.16%
SPXW US 07/31/25 C6500 SPXW Jul 2025 6500 Call 494 1.08%
SPXW US 08/15/25 C6400 SPXW Aug 2025 6400 Call 40 0.37%
SPXW US 08/15/25 C6650 SPXW Aug 2025 6650 Call 101 0.14%
AUSPWR AUSTIN TEX ELEC UTIL S 5.25 15NOV53 — —
- Estimated Cash 9,079,463 12.09%

Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date Record Date Payable Date Total Distribution
N/A
$0.26000
$0.26000
$0.27332
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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