CAS

Simplify China A Shares PLUS Income ETF

as of 03/21/2025

NAV

$ 26.62

NAV Change

- $ 0.55 /2.02%

Price

$ 26.46

Price Change

- $ 0.40 /1.49%

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, Shanghai and Beijing. 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.

Documents

Fund Overview

As of 03/21/2025

Ticker Symbol

CAS

Gross Expense Ratio

0.88%

CUSIP

82889N384

Total Assets

$9,981,564.93

Shares Outstanding

375,001

Distribution Rate as of 03/21/2025 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 Frequency

Quarterly

30-Day SEC Yield (Subsidized) as of 02/28/2025 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 02/28/2025

Options Available

Inception Date

01/13/2025

Premium/Discount (%) as of 03/21/2025

-0.59%

NAV Per Share as of 03/21/2025

$26.62

Market Price as of 03/21/2025

$26.46

30-Day Median Bid-Ask Spread

0.71%

Bid/Ask

$26.40/$26.55

Midpoint Price

$26.48

Volume

NAV Symbol

CAS.NV

IOPV Symbol

CAS.IV

Shares Out. Symbol

CAS.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	0.88%
Distribution and Service (12b-1) Fees	0.00%
Total Annual Fund Operating Expenses	0.88%

Fund Performance (Total Return)

As of 02/28/2025 12/31/2024

Monthly Quarterly

Cumulative	1 Month	3 Month	6 Month	YTD	1 Year	Since Inception
NAV	2.75%	—	—	—	—	3.82%
Market Price	1.99%	—	—	—	—	4.50%

Annualized	1 Year	3 Year	Since Inception
NAV	—	—	—
Market Price	—	—	—

Cumulative	1 Year	Since Inception
NAV	—	—
Market Price	—	—

Annualized	1 Year	3 Year	5 Year	Since Inception
NAV	—	—	—	—
Market Price	—	—	—	—

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

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 03/21/2025

Ticker	Name	Quantity	Weight
GLD US 03/26/25 P252	GLD Mar 2025 252 Put	146	0.00%
GLD US 03/26/25 P260	GLD Mar 2025 260 Put	-146	0.00%
GLD US 03/28/25 P255	GLD Mar 2025 255 Put	117	0.00%
GLD US 03/28/25 P265	GLD Mar 2025 265 Put	-117	-0.01%
GLD US 04/02/25 P260	GLD Apr 2025 260 Put	105	0.01%
GLD US 04/02/25 P270	GLD Apr 2025 270 Put	-105	-0.05%
GLD US 04/04/25 P256	GLD Apr 2025 256 Put	86	0.01%
GLD US 04/04/25 P268	GLD Apr 2025 268 Put	-86	-0.04%
MSTR US 03/28/25 P180	MSTR Mar 2025 180 Put	23	0.01%
MSTR US 03/28/25 P230	MSTR Mar 2025 230 Put	-23	-0.02%
MSTR US 04/04/25 P190	MSTR Apr 2025 190 Put	21	0.02%
MSTR US 04/04/25 P200	MSTR Apr 2025 200 Put	42	0.06%
MSTR US 04/04/25 P240	MSTR Apr 2025 240 Put	-21	-0.06%
MSTR US 04/04/25 P250	MSTR Apr 2025 250 Put	-42	-0.15%
NDXP US 03/28/25 P17750	NDXP Mar 2025 17750 Put	1	0.00%
NDXP US 03/28/25 P18750	NDXP Mar 2025 18750 Put	-1	-0.02%
NDXP US 04/04/25 P17500	NDXP Apr 2025 17500 Put	1	0.01%
NDXP US 04/04/25 P18500	NDXP Apr 2025 18500 Put	-1	-0.06%
RUTW US 03/28/25 P1850	RUTW Mar 2025 1850 Put	18	0.01%
RUTW US 03/28/25 P1950	RUTW Mar 2025 1950 Put	-18	-0.03%
RUTW US 04/02/25 P1840	RUTW Apr 2025 1840 Put	11	0.01%
RUTW US 04/02/25 P1980	RUTW Apr 2025 1980 Put	-11	-0.11%
RUTW US 04/04/25 P1835	RUTW Apr 2025 1835 Put	10	0.02%
RUTW US 04/04/25 P1935	RUTW Apr 2025 1935 Put	-10	-0.07%
SPXW US 03/25/25 P5500	SPXW Mar 2025 5500 Put	10	0.01%
SPXW US 03/26/25 P5350	SPXW Mar 2025 5350 Put	8	0.00%
SPXW US 03/28/25 C5950	SPXW Mar 2025 5950 Call	90	0.01%
SPXW US 03/28/25 P5200	SPXW Mar 2025 5200 Put	8	0.00%
SPXW US 03/28/25 P5250	SPXW Mar 2025 5250 Put	-22	-0.02%
SPXW US 03/28/25 P5350	SPXW Mar 2025 5350 Put	22	0.04%
SPXW US 03/28/25 P5410	SPXW Mar 2025 5410 Put	-8	-0.02%
SPXW US 04/02/25 P5125	SPXW Apr 2025 5125 Put	4	0.01%
SPXW US 04/02/25 P5450	SPXW Apr 2025 5450 Put	-4	-0.06%
SPXW US 04/04/25 C6000	SPXW Apr 2025 6000 Call	4	0.00%
SPXW US 04/04/25 P5150	SPXW Apr 2025 5150 Put	4	0.02%
SPXW US 04/04/25 P5375	SPXW Apr 2025 5375 Put	-4	-0.05%
SPXW US 04/11/25 C6150	SPXW Apr 2025 6150 Call	9	0.00%
SPXW US 04/11/25 C6230	SPXW Apr 2025 6230 Call	10	0.00%
SPXW US 04/17/25 C5800	SPXW Apr 2025 5800 Call	4	0.20%
-	CSI 300 Net Return Index Total Return Swap - Receivable	4,666	35.04%
-	CSI 2000 Net Total Return Index Total Return Swap - Receivable	7,044	27.60%
-	CSI 1000 Net Total Return Index Total Return Swap - Receivable	2,149	21.28%
-	CSI 500 Net Total Return Index Total Return Swap - Receivable	2,104	20.65%
-	CSI 500 Net Total Return Index Total Return Swap - Payable	-2,115,766	-21.20%
-	CSI 1000 Net Total Return Index Total Return Swap - Payable	-2,192,471	-21.97%
-	CSI 2000 Net Total Return Index Total Return Swap - Payable	-2,818,652	-28.24%
-	CSI 300 Net Return Index Total Return Swap - Payable	-3,583,106	-35.90%
T Bills	UNITED STS TREAS BILLS 0.0 10APR25	9,020,000	90.19%
T Bills	UNITED STS TREAS BILLS 0.0 08JUL25	1,250,000	12.37%
-	Estimated Cash	48,364	0.48%

NAV

NAV Change

Price

Price Change

Documents

SEC 30-Day Yield Close

Holdings are subject to change without notice.

Register for Simplify's Investor Hub

CAS

Simplify China A Shares PLUS Income ETF

NAV

NAV Change

Price

Price Change

Documents

Harnessing the Red Dragon: Making China’s Equity Market Structure Work For Better Returns

Fund Overview

Distribution Rate Close

SEC 30-Day Yield Close

Management Fees

Fund Performance (Total Return)

Historical Premium/Discount

Portfolio Holdings

Holdings are subject to change without notice.

Register for Simplify's Investor Hub