SVOL

Simplify Volatility Premium ETF

as of 09/27/2023

NAV

$ 22.31

NAV Change

- $ 0.34 /1.50%

Price

$ 22.33

Price Change

- $ 0.32 /1.41%

The Simplify Volatility Premium ETF (SVOL) seeks to provide investment results, before fees and expenses, that correspond to approximately one-fifth to three-tenths (-0.2x to -0.3x) the inverse of the performance of the Cboe Volatility Index (VIX) short-term futures index while also seeking to mitigate extreme volatility.

We believe many traditional sources of income are failing to meet investor needs in today’s low yield environment. SVOL aims to provide an attractive income stream and source of diversification while seeking to avoid risks inherent in other income-producing asset classes.

The fund’s short VIX position provides investors an optimized exposure for monetizing the premium in the VIX futures market. A modest option overlay budget is then deployed into VIX call options to help protect against adverse moves in VIX.

SVOL Overview

SVOL Fund Deep Dive Live

Fund Overview

As of 09/27/2023

Ticker Symbol

SVOL

Gross Expense Ratio

0.66%

CUSIP

82889N863

Total Assets

$444,613,190.83

Shares Outstanding

19,925,001

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.

15.73%

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.

4.58%

Unsubsidized 30-Day SEC Yield as of 08/31/2023

4.58%

Options Available

Yes

Inception Date

05/12/2021

Premium/Discount (%) as of 09/27/2023

0.07%

NAV Per Share as of 09/27/2023

$22.31

Market Price as of 09/27/2023

$22.33

30-Day Median Bid-Ask Spread

0.04%

Bid/Ask

$22.33/$22.38

Midpoint Price

$22.36

Volume

556,087

NAV Symbol

SVOL.NV

IOPV Symbol

—

Shares Out. Symbol

SVOL.SO

Schedule K-1

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%
Other Expenses	0.11%
Acquired Fund Fees and Expenses^1,2	0.05%
Total Annual Fund Operating Expenses	0.66%

1. Acquired Fund Fees and Expenses 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	1.20%	7.88%	12.95%	17.20%	21.37%	27.91%
Market Price	1.54%	7.90%	12.65%	17.02%	21.35%	27.19%

Annualized	1 Year	3 Year	Since Inception
NAV	21.37%	—	11.27%
Market Price	21.35%	—	11.02%

Cumulative	1 Year	Since Inception
NAV	23.14%	24.75%
Market Price	23.30%	24.18%

Annualized	1 Year	3 Year	5 Year	Since Inception
NAV	23.14%	—	—	10.92%
Market Price	23.30%	—	—	10.70%

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 2022	2nd Quarter of 2023
Days Traded at Premium	165	57
Days Traded at Discount	86	5

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 09/27/2023

Ticker	Name	Quantity	Weight
AGGH	SIMPLIFY AGGREGATE BOND E	1863851	9.04%
LQD	ISHARES IBOXX INVESTMENT	359120	8.38%
UXF4 IND	CBOE VIX FUTURE Jan24	-4704	-21.01%
UXH4 IND	CBOE VIX FUTURE Mar24	-875	-3.97%
VIX US 12/20/23 C50	VIX Dec 2023 50 Call	34565	0.30%
-	US TREASURY N/ 2.875 6/25	100000	0.02%
-	TREASURY BILL DN 10/23	54000000	12.34%
-	TREASURY BILL DN 10/23	5600000	1.28%
-	TREASURY BILL DN 12/23	45530000	10.28%
-	TSY INFL IX N/ 0.625 1/24	158990000	47.16%
-	TSY INFL IX N/B 0.5 4/24	34600000	9.42%
-	Estimated Net Cash	16553386	3.78%

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
09/27/2023	09/28/2023	09/29/2023	$0.30000	$0.00000	$0.00000	$0.00000	$0.30000
08/28/2023	08/29/2023	08/31/2023	$0.30000	$0.00000	$0.00000	$0.00000	$0.30000
07/26/2023	07/27/2023	07/31/2023	$0.30000	$0.00000	$0.00000	$0.00000	$0.30000
06/27/2023	06/28/2023	07/03/2023	$0.32000	$0.00000	$0.00000	$0.00000	$0.32000
05/25/2023	05/26/2023	05/31/2023	$0.32000	$0.00000	$0.00000	$0.00000	$0.32000

View Distribution History

DISTRIBUTION CALENDAR

NAV

NAV Change

Price

Price Change

Documents

SVOL Overview

SVOL Fund Deep Dive Live

SEC 30-Day Yield Close

Register for Simplify's Investor Hub

SVOL

Simplify Volatility Premium ETF

NAV

NAV Change

Price

Price Change

Documents

Diversifying Equity Income Portfolios with VIX Carry

SVOL Overview

SVOL Fund Deep Dive Live

Fund Overview

Distribution Yield Close

SEC 30-Day Yield Close

Management Fees

Fund Performance

Historical Premium/Discount

Portfolio Holdings

Holdings are subject to change without notice.

Recent Distributions

Register for Simplify's Investor Hub