CAS Simplify China A Shares PLUS Income ETF
The Simplify China A Shares PLUS Income ETF (CAS) invests primarily in China A share equities, which are listed on mainland China exchanges in Shenzhen and Shanghai. They offer a much more diverse opportunity set across industries and market capitalizations than share classes normally offered to foreign investors. Exposure is gained via total return swaps, which offer a unique source of additional returns via favorable funding rates.
A risk-managed options strategy is layered on top of the equities creating income by writing short term spreads on a variety of underlying assets, including equity, fixed income and commodity indices or ETFs.
Why Invest in CAS?
Fund Overview
As of 11/13/2026
Ticker Symbol
CAS
Expense Ratio
0.94%
CUSIP
82889N384
Total Assets
$10,407,864.62
Shares Outstanding
525,001
Distribution Rate as of 09/30/2026
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.51.48%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 09/30/2026
3.03%
30-Day SEC Yield (Unsubsidized) as of 09/30/2026
3.03%
Options Available
No
Inception Date
01/13/2025
Premium/Discount (%) as of 11/13/2026
0.58%
NAV Per Share as of 11/13/2026
$19.82
Market Price as of 11/13/2026
$19.94
30-Day Median Bid-Ask Spread
0.20%
Bid/Ask
$19.91/$19.97
Midpoint Price
$19.94
Volume
2,606
NAV Symbol
CAS.NV
IOPV Symbol
CAS.IV
Shares Out. Symbol
CAS.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 | 0.88% |
| Distribution and Service (12b-1) Fees | 0.00% |
| Other Fees | 0.00% |
| Acquired Fund Fees and Expenses1 | 0.06% |
| Total Annual Fund Operating Expenses | 0.94% |
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 10/31/2026 09/30/2026
| Cumulative | 1 Month | 3 Month | 6 Month | YTD | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|---|---|---|---|
| NAV | -13.08% | -11.14% | -17.05% | -8.71% | -6.35% | — | — | 36.59% |
| Market Price | -12.78% | -11.29% | -17.87% | -8.73% | -6.06% | — | — | 37.22% |
| Annualized | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | -6.35% | — | — | 18.94% |
| Market Price | -6.06% | — | — | 19.28% |
| Cumulative | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | 8.97% | — | — | 57.13% |
| Market Price | 8.86% | — | — | 57.33% |
| Annualized | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | 8.97% | — | — | 30.20% |
| Market Price | 8.86% | — | — | 30.35% |
| Calendar Year | NAV | Market Price |
|---|---|---|
| 2025 | — | — |
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 |
|---|---|---|---|
| SBIL | SIMPLIFY E GOVT MONEY MKT ETF | 25,000 | 24.07% |
| - | TRS CSIN0300 SOFR -520 011527 | 2,249 | 18.84% |
| - | TRS CSIN0905 SOFR -860 011527 | 1,248 | 14.17% |
| - | TRS C932000N SOFR -1950 011527 | 2,487 | 10.58% |
| - | TRS CSIN0300 101527 | 1,120 | 9.38% |
| - | TRS CSIN0905 101527 | 783 | 8.89% |
| - | TRS CSIN0852 SOFR -1240 011527 | 663 | 6.92% |
| - | TRS CSIN0300 SOFR -620 041527 | 784 | 6.57% |
| - | TRS CSIN0905 SOFR -900 041527 | 526 | 5.97% |
| - | TRS C932000N 101527 | 1,031 | 4.39% |
| - | TRS CSIN0852 101527 | 411 | 4.29% |
| - | TRS C932000N SOFR -1400 041527 | 982 | 4.18% |
| - | TRS CSIN0300 SOFR -680 041527 | 381 | 3.19% |
| - | TRS CSIN0852 SOFR -1190 041527 | 292 | 3.05% |
| - | TRS CSIN0905 SOFR -1120 041527 | 220 | 2.50% |
| - | TRS C932000N SOFR -1750 041527 | 403 | 1.71% |
| - | TRS CSIN0852 SOFR -1260 041527 | 135 | 1.41% |
| - | TRS CSIN0852 SOFR -1260 041527 | -153,542 | -1.48% |
| - | TRS C932000N SOFR -1750 041527 | -187,014 | -1.80% |
| - | TRS CSIN0905 SOFR -1120 041527 | -271,216 | -2.61% |
| - | TRS CSIN0852 SOFR -1190 041527 | -332,107 | -3.19% |
| - | TRS CSIN0300 SOFR -680 041527 | -343,023 | -3.30% |
| - | TRS C932000N SOFR -1400 041527 | -455,703 | -4.38% |
| - | TRS CSIN0852 101527 | -467,243 | -4.49% |
| - | TRS C932000N 101527 | -478,229 | -4.59% |
| - | TRS CSIN0905 SOFR -900 041527 | -648,454 | -6.23% |
| - | TRS CSIN0300 SOFR -620 041527 | -705,853 | -6.78% |
| - | TRS CSIN0852 SOFR -1240 011527 | -754,064 | -7.25% |
| - | TRS CSIN0905 101527 | -964,854 | -9.27% |
| - | TRS CSIN0300 101527 | -1,007,912 | -9.68% |
| - | TRS C932000N SOFR -1950 011527 | -1,154,109 | -11.09% |
| - | TRS CSIN0905 SOFR -860 011527 | -1,538,537 | -14.78% |
| - | TRS CSIN0300 SOFR -520 011527 | -2,024,826 | -19.45% |
| T Bills | UNITED STS TREAS BILLS 0.0 31DEC26 | 500,000 | 4.78% |
| T Bills | UNITED STS TREAS BILLS 0.0 28JAN27 | 1,750,000 | 16.68% |
| T Bills | UNITED STS TREAS BILLS 0.0 16FEB27 | 4,050,000 | 38.50% |
| T Bills | UNITED STS TREAS BILLS 0.0 11MAR27 | 2,000,000 | 18.96% |
| - | Estimated Cash | 141,498 | 1.36% |
Holdings are subject to change without notice.
Recent Distributions
| Ex-Dividend Date | Record Date | Payable Date | Total Distribution |
|---|---|---|---|
| N/A | |||
| $1.00000 | |||
| $1.00000 | |||
| $0.50000 | |||
| $0.50000 |
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.
