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SPYC

Simplify US Equity PLUS Convexity ETF

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As of 02/05/2026

NAV

$ 41.70

NAV Change

- $ 0.68 /1.60%

Price

$ 41.78

Price Change

- $ 0.60 /1.42%

The Simplify US Equity PLUS Convexity ETF (SPYC) seeks to provide capital appreciation by offering US large cap exposure while aiming to boost performance during extreme market moves up or down via an options overlay.  

The fund's core holding gives investors a low-cost, index-based exposure to US large caps. A modest option overlay budget is then deployed into a series of options positions that help create convexity in the fund. 

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Documents

Fund Overview

As of 02/05/2026

Ticker Symbol
SPYC
Expense Ratio
0.53%
CUSIP
82889N103
Total Assets
$94,871,817.09
Shares Outstanding
2,275,001
Distribution Rate as of 12/31/2025 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.
0.94%
Distribution Frequency
Quarterly
30-Day SEC Yield (Subsidized) as of 01/31/2026
-
30-Day SEC Yield (Unsubsidized) as of 01/31/2026
0.66%
Options Available
No
Inception Date
09/03/2020
Premium/Discount (%) as of 02/05/2026
0.19%
NAV Per Share as of 02/05/2026
$41.70
Market Price as of 02/05/2026
$41.78
30-Day Median Bid-Ask Spread
0.16%
Bid/Ask
$41.68/$41.76
Midpoint Price
$41.72
Volume
15,536
NAV Symbol
SPYC.NV
IOPV Symbol
SPYC.IV
Shares Out. Symbol
SPYC.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 7% 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 Expenses0.00%
Acquired Fund Fees and Expenses10.03%
Total Annual Fund Operating Expenses0.53%

1. Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table do 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.

Fund Performance (Total Return)

As of 01/31/2026 12/31/2025

Monthly Quarterly Annually
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV 0.51% -1.99% 5.90% 0.51% 11.74% 83.38%
Market Price 0.37% -2.15% 5.95% 0.37% 11.64% 84.36%
Annualized 1 Year 3 Year Since Inception
NAV 11.74% 18.35% 11.86%
Market Price 11.64% 18.38% 11.98%
Cumulative 1 Year Since Inception
NAV 15.52% 82.46%
Market Price 15.30% 83.67%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV 15.52% 20.50% 10.99% 11.95%
Market Price 15.30% 20.55% 10.98% 12.10%
Calendar Year NAV Market Price
2025 15.54% 15.30%
2024 22.14% 22.60%
2023 24.01% 23.93%
2022 -25.39% -25.65%
2021 28.99% 29.26%
2020 — —
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. For most recent data please call (855) 772-8488.

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 2025 4th Quarter of 2025
Days Traded at Premium
134
31
Days Traded at Discount
116
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 02/05/2026

Holdings - All ETFs
Ticker Name Quantity Weight
IVV ISHARES CORE S+P 500 ETF 139,083 99.76%
NDXP US 02/13/26 P22800 NDXP Feb 2026 22800 Put 7 0.05%
NDXP US 02/13/26 P23100 NDXP Feb 2026 23100 Put 7 0.07%
NDXP US 02/13/26 P23800 NDXP Feb 2026 23800 Put -7 -0.15%
NDXP US 02/13/26 P24100 NDXP Feb 2026 24100 Put -7 -0.21%
RUTW US 02/13/26 P2350 RUTW Feb 2026 2350 Put 76 0.02%
RUTW US 02/13/26 P2380 RUTW Feb 2026 2380 Put 77 0.03%
RUTW US 02/13/26 P2450 RUTW Feb 2026 2450 Put -76 -0.08%
RUTW US 02/13/26 P2480 RUTW Feb 2026 2480 Put -77 -0.12%
SPXW US 02/06/26 C7060 SPXW Feb 2026 7060 Call 99 0.00%
SPXW US 02/06/26 C7075 SPXW Feb 2026 7075 Call 107 0.00%
SPXW US 02/09/26 C7090 SPXW Feb 2026 7090 Call 96 0.00%
SPXW US 02/13/26 P6275 SPXW Feb 2026 6275 Put 25 0.01%
SPXW US 02/13/26 P6300 SPXW Feb 2026 6300 Put 25 0.01%
SPXW US 02/13/26 P6575 SPXW Feb 2026 6575 Put -25 -0.07%
SPXW US 02/13/26 P6600 SPXW Feb 2026 6600 Put -25 -0.08%
SPXW US 02/20/26 C7100 SPXW Feb 2026 7100 Call 180 0.08%
SPXW US 03/20/26 C7275 SPXW Mar 2026 7275 Call 75 0.07%
SPXW US 03/20/26 C7360 SPXW Mar 2026 7360 Call 65 0.03%
SPXW US 03/20/26 P5500 SPXW Mar 2026 5500 Put -124 -0.15%
SPXW US 03/20/26 P5800 SPXW Mar 2026 5800 Put 124 0.25%
SPXW US 03/31/26 C7350 SPXW Mar 2026 7350 Call 67 0.06%
SPXW US 04/17/26 C7275 SPXW Apr 2026 7275 Call 49 0.13%
SPXW US 04/17/26 C7380 SPXW Apr 2026 7380 Call 24 0.04%
SPXW US 04/17/26 P5600 SPXW Apr 2026 5600 Put -83 -0.23%
SPXW US 04/17/26 P5900 SPXW Apr 2026 5900 Put 83 0.36%
- Estimated Cash 85,728 0.09%

Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date Record Date Payable Date Total Distribution
N/A
$0.10000
$0.10000
$0.10000
$0.08000
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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