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CRDT

Simplify Opportunistic Income ETF

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as of 11/19/2024

NAV

$ 25.01

NAV Change

- $ 0.04 /0.16%

Price

$ 25.12

Price Change

+ $ 0.04 /0.16%
The Simplify Opportunistic Income ETF (CRDT) seeks to provide current income, with long-term capital appreciation as a secondary objective.

CRDT is an actively managed, opportunistic credit strategy focused on security selection within high-yield, investment grade, and distressed debt. By deploying a multi-step investment process that combines macroeconomic, quantitative, and fundamental research, the fund seeks to generate alpha that diversifies the traditional investment portfolio.

The strategy is sub-advised by Asterozoa Capital, an alternatives manager focused on opportunistic investing across the capital structure while minimizing risks/correlations through portfolio construction and hedging.
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Documents

CRDT Fund Deep Dive Live

Fund Overview

As of 11/19/2024

Ticker Symbol
CRDT
Gross Expense Ratio
1.48%
CUSIP
82889N558
Total Assets
$76,269,657.06
Shares Outstanding
3,050,001
Distribution Rate as of 10/31/2024 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.
7.70%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 10/31/2024 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.
9.18%
30-Day SEC Yield (Unsubsidized) as of 10/31/2024
8.72%
Portfolio Duration
1.44
Options Available
No
Inception Date
06/26/2023
Premium/Discount (%) as of 11/19/2024
0.45%
NAV Per Share as of 11/19/2024
$25.01
Market Price as of 11/19/2024
$25.12
30-Day Median Bid-Ask Spread
0.16%
Bid/Ask
$25.12/$25.13
Midpoint Price
$25.13
Volume
1,219
NAV Symbol
CRDT.NV
IOPV Symbol
CRDT.IV
Shares Out. Symbol
CRDT.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 rate may contain return of capital but an estimate cannot be provided at this time. Please refer to the 19a-1 notices for additional details regarding the distributions’ composition once they become available.

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 0.95%
Distribution and Service (12b-1) Fees 0.00%
Other Expenses1 0.01%
Acquired Fund Fees and Expenses2 0.52%
Total Annual Fund Operating Expenses 1.48%
1. Other Expenses include interest expenses of 0.01%.

2. 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

As of 10/31/2024 09/30/2024

Monthly Quarterly
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV -0.67% 1.17% 4.27% 3.43% 9.02% 8.86%
Market Price -1.07% 0.58% 4.53% 3.15% 7.93% 8.47%
Annualized 1 Year 3 Year Since Inception
NAV 9.02% — 6.50%
Market Price 7.93% — 6.23%
Cumulative 1 Year Since Inception
NAV 7.12% 9.60%
Market Price 7.24% 9.64%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV 7.12% — — 7.53%
Market Price 7.24% — — 7.58%
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 2023 3rd Quarter of 2024
Days Traded at Premium
107
50
Days Traded at Discount
23
14
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 11/19/2024

Holdings - All ETFs
Ticker Name Quantity Weight
ABCLN ALLY BK SANDY UT 8.036 15SEP32 144A 800,000 1.05%
ADMSO ADAMS OUTDOOR ADV 8.81 15JUL53 144A 500,000 0.68%
AGO FINANCIAL SEC 6.4 15DEC66 144A FRN 1,000,000 1.24%
AMSR AMSR 2024-SFR2 TR 4.15 17NOV41 144A 1,000,000 1.19%
ANCHC ANCHORAGE CA 12.36751 15OCT34 144A 1,000,000 1.29%
ARES ARES LIV CLO 12.25751 15OCT32 144A 1,000,000 1.34%
ARI APOLLO COML REAL 4.625 15JUN29 144A 400,000 0.47%
AZUBBZ AZUL INVESTMENTS LLP 7.25 15JUN26 1,850,000 1.66%
AZUBBZ AZUL INVTS LLP 7.25 15JUN26 144A 149,000 0.13%
AZUBBZ AZUL SECD FIN LL 11.93 28AUG28 144A 250,000 0.34%
BAHAMA BAHAMAS COMWLTH 9.0 16JUN29 144A 500,000 0.71%
BNS BANK NOVA SCOTI 7.56551 31DEC79 FRN 600,000 0.79%
CIFC CIFC FDG 202 8.31751 15JAN34 144A F 500,000 0.66%
DANBNK DANSKE BK A/ 6.466 09JAN26 144A FRN 1,000,000 1.34%
DANBNK DANSKE BANK A/S 7.0 31DEC49 FRN 350,000 0.47%
DB DEUTSCHE BK A G 7.5 31DEC49 400,000 0.55%
EART EXETER AUTOMOBILE RECE 1.46 15OCT27 358,520 0.03%
EGYPT EGYPT GOVERNMENT INTE 7.903 21FEB48 750,000 0.75%
EPD ENTERPRISE PRODS 5.375 15FEB78 FRN 550,000 0.71%
FBC FLAGSTAR BANCORP 4.125 01NOV30 FRN 1,109,000 1.27%
FLG FLAGSTAR FINL I 7.57325 06NOV28 FRN 1,500,000 1.87%
FRCB FIRST REP BK SAN FRAN 4.625 13FEB47 1,500,000 0.03%
FYBR FRONTIER ISSUER L 11.5 20AUG53 144A 300,000 0.42%
FYBR FRONTIER ISSUER LL 8.3 20AUG53 144A 300,000 0.41%
GBLATL GLOBAL ATLANT 7.95 15OCT54 144A FRN 1,000,000 1.38%
GOODG GOODGREEN 2024-1 L 8.5 15JUL56 144A 462,000 0.60%
GRADE SALUDA GRADE ALT 8.486 25APR54 144A 899,280 1.08%
HACLN HUNTINGTON N 12.35515 20OCT32 144A 750,000 0.99%
HERTZ HERTZ VEH FING II 6.56 25SEP26 144A 1,000,000 1.31%
HTAP HTAP ISSUER TR 202 6.5 25APR42 144A 992,595 1.27%
IHSFR INVITATION HOMES 2 4.5 17SEP41 144A 1,000,000 1.14%
KSS KOHLS CORP 6.875 15DEC37 500,000 0.53%
KSTAT KKR STATIC C 10.8374 20JUL31 144A F 1,000,000 1.33%
LHOME LHOME MTG TR 8.18 25SEP39 144A FRN 600,000 0.78%
LNC LINCOLN NATL CO 7.72066 17MAY66 FRN 1,000,000 1.09%
LOGM GOTO GROUP INC 5.5 01MAY28 144A 223,300 0.12%
LUMN LUMEN TECHNOLOGIES 7.6 15SEP39 2,175,000 2.33%
M FEDERATED RETAIL HLDG 6.375 15MAR37 750,000 0.88%
MBONO MEXICO(UTD 10 GTD SNR 05/12/2024 M 18,800,000 1.28%
MBONO Mexican Bonos (MXN) 24,000,000 1.52%
MCBRAC MC BRAZIL DOWNSTR 7.25 30JUN31 144A 397,712 0.41%
MCLAUT MCLAREN FIN PLC 7.5 01AUG26 144A 500,000 0.65%
MDPK MADISON PK F 7.61751 15JUL30 144A F 1,000,000 1.32%
NAVSL NAVIENT PRIVATE ED 0.0 15JUL69 144A 2,222 1.05%
NRG NRG ENERGY I 10.25 31DEC49 144A FRN 767,000 1.13%
NRMLT NEW RESIDENT 9.15608 25MAR39 144A F 430,000 0.56%
NYMT NYMT LN TR S 6.903 25SEP39 144A FRN 400,000 0.52%
OCTL OCTANE RECEIVABLES 0.0 20DEC29 144A 12,121 1.96%
OCTL OCTANE RECEIVABLE 5.86 20OCT31 144A 718,000 0.94%
OPI OFFICE PPTYS INCOM 9.0 31MAR29 144A 850,000 1.12%
PANAMA PANAMA REP 6.853 28MAR54 500,000 0.60%
PMT PENNYMAC CORP 8.5 01JUN29 144A 1,000,000 1.35%
QVCN QVC INC 6.875 15APR29 144A 600,000 0.65%
RCITY RAIN CITY MT 10.188 25NOV29 144A FR 500,000 0.66%
RITM RITHM CAPITAL COR 6.25 15OCT25 144A 173,000 0.23%
RITM RITHM CAPITAL CORP 8.0 01APR29 144A 1,000,000 1.33%
RMIR RADNOR RE 20 9.84614 25SEP34 144A F 1,150,000 1.54%
SDART SANTANDER DRIVE AUTO R 5.91 15JUN27 752,383 0.75%
SDART SANTANDER DRIVE AUTO R 2.56 17APR28 802,955 0.41%
SFRFP ALTICE FRANCE HLD 10.5 15MAY27 144A 1,500,000 0.59%
SIERRA SIERRACOL ENERGY A 6.0 15JUN28 144A 500,000 0.62%
SPLLLC SABINE PASS LIQUEFACT 5.625 01MAR25 488,000 0.65%
STWD STARWOOD PPTY TR 7.25 01APR29 144A 1,000,000 1.36%
TEN TENNECO INC 8.0 17NOV28 144A 1,000,000 1.25%
TRPCN TRANSCANADA TR 5.625 20MAY75 FRN 578,000 0.77%
UFS PEARL MERGER SUB 6.75 01OCT28 144A 600,000 0.73%
UNIT UNITI GROUP LP / U 6.5 15FEB29 144A 1,000,000 1.17%
USRE NEW ECONOMY ASSET 2.41 20OCT61 144A 1,750,000 2.05%
VAL VALARIS LTD 8.375 30APR30 144A 750,000 1.01%
WFCM WELLS FARGO COML 4.25 15NOV57 144A 560,000 0.63%
CEE CENTRAL AND EASTERN EUROPE FUND 24,235 0.39%
AGNC AGNC INV C COM USD0.01 143,550 1.82%
ARR ARMOUR RES COM USD0.001(POST REV SP 27,500 0.68%
CIM CHIMERA IN COM USD0.01 (PST REV SPL 25,700 0.50%
NLY ANNALY CAP COM USD0.01(POST REV SPL 80,190 2.08%
NRZ RITHM CAPI COM NPV 175,780 2.46%
PMT PENNYMAC M COM USD0.01 57,600 1.00%
QRTEA QURATE RETAIL INC QVC GROUP 600,000 0.29%
TWO TWO HARBOR COM USD0.01(POST REV SPL 11,000 0.17%
WWOK WEWORK INC USD 0.0001 20,956 0.62%
FVZ4 COM US 5YR NOTE (CBT) DEC24 169 -0.71%
TUZ4 COM US 2YR NOTE (CBT) DEC24 193 -0.12%
WNZ4 COM US ULTRA BOND CBT DEC24 -76 0.59%
- US 10YR FUT OPTN Mar25P 107 233 0.13%
CAVA US 12/20/24 P110 CAVA Dec 2024 110 Put 50 0.00%
MAC US 12/20/24 P15 MAC Dec 2024 15 Put 550 0.01%
- 4AB951AF2 22,500,000 -0.58%
- 05Y5BRAD3 26,700,000 -2.83%
T Bills UNITED STS TREAS BILLS 0.0 10DEC24 4,500,000 5.89%
T Bills UNITED STS TREAS BILLS 0.0 17DEC24 4,100,000 5.36%
T Bills UNITED STS TREAS BILLS 0.0 14JAN25 3,850,000 5.01%
- DIAMOND SPORTS 12/02/24 TERM LOAN 142,399 0.21%
CIM CHIMERA INVT CORP 10.65628 CUM PFD 24,800 0.82%
CIM CHIMERA INVT CORP 7.75 CUM PFD 20,000 0.64%
FBRT FRANKLIN BSP RLTY TR IN 7.5 CUM PFD 11,300 0.32%
FMCKN FEDERAL HOME LN MTG CORP 5.66 DFLT 37,500 0.41%
FNMAS FEDERAL NATL MTG ASSN 8.25 PF DFLT 50,000 0.70%
MFAN MFA FINL INC 8.875 PFD 20,000 0.66%
QRTEP QURATE RETAIL INC 8.0 CUM PFD 44,567 2.29%
RILYZ B RILEY FINL INC 5.25 PFD 39,272 0.48%
RITM RITHM CAPITAL CORP 6.375 CUM PFD 47,696 1.54%
RITM RITHM CAPITAL CORP 7.0 CUM PFD 45,564 1.45%
TWO TWO HBRS INVT CORP 8.125 CUM PFD 6,561 0.21%
- Estimated Cash 1,892,900 2.48%

Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date Record Date Payable Date Total Distribution
N/A
$0.16000
$0.16000
$0.16000
$0.16000
This Fund is required to meet the reporting requirement of Section 19(a) of the Investment Company Act of 1940 where the payment of any distribution is to be accompanied by a written notice that discloses the sources of a payment if it is made from any source other than the Fund's net income. The distribution may contain return of capital but an estimate cannot be provided at this time. Please refer to the 19a-1 notice for additional details regarding the distribution composition, once it is available.
View Distribution History
Supplemental Tax Information: S19(a) Notices

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