CRDT Simplify Opportunistic Income ETF
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.
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.
Fund Overview
As of 06/18/2026
Ticker Symbol
CRDT
Expense Ratio
0.99%
CUSIP
82889N558
Total Assets
$36,201,019.11
Shares Outstanding
1,550,001
Distribution Rate as of 05/31/2026
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.5.05%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 05/31/2026
-
30-Day SEC Yield (Unsubsidized) as of 05/31/2026
6.23%
Portfolio Duration
8.65
Options Available
No
Inception Date
06/26/2023
Premium/Discount (%) as of 06/18/2026
0.15%
NAV Per Share as of 06/18/2026
$23.36
Market Price as of 06/18/2026
$23.39
30-Day Median Bid-Ask Spread
0.18%
Bid/Ask
$23.36/$23.41
Midpoint Price
$23.39
Volume
1,769
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 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 | 0.95% |
| Distribution and Service (12b-1) Fees | 0.00% |
| Other Expenses1 | 0.03% |
| Acquired Fund Fees and Expenses2 | 0.01% |
| Total Annual Fund Operating Expenses | 0.99% |
1. Other Expenses include interest expenses of 0.03%.
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 (Total Return)
As of 05/31/2026 03/31/2026
| Cumulative | 1 Month | 3 Month | 6 Month | YTD | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|---|---|---|---|
| NAV | 2.85% | 3.51% | 4.23% | 4.28% | 4.13% | — | — | 14.73% |
| Market Price | 3.08% | 2.97% | 4.34% | 4.20% | 3.78% | — | — | 14.48% |
| Annualized | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | 4.13% | — | — | 4.80% |
| Market Price | 3.78% | — | — | 4.73% |
| Cumulative | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | -6.30% | — | — | 7.26% |
| Market Price | -5.86% | — | — | 7.66% |
| Annualized | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | -6.30% | — | — | 2.57% |
| Market Price | -5.86% | — | — | 2.71% |
| Calendar Year | NAV | Market Price |
|---|---|---|
| 2025 | -0.38% | -0.68% |
| 2024 | 4.94% | 5.18% |
| 2023 | — | — |
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 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
| Ticker | Name | Quantity | Weight |
|---|---|---|---|
| ARIN | ARINI US CLO V 0.0 15APR39 144A FRN | 1,000,000 | 2.56% |
| ARWR | ARROWHEAD PHARMACEUTICA 0.0 15JAN32 | 800,000 | 2.65% |
| BMARK | BENCHMARK 2019-B9 3.0 15MAR52 144A | 1,000,000 | 1.40% |
| DDOG | DATADOG INC 0.0 01DEC29 | 400,000 | 1.44% |
| DRSDEL | NEWCO HOLDING EUR 11.0 20FEB30 144A | 500,000 | 1.35% |
| DRSLF | DRYDEN 97 CL 9.82523 20OCT38 144A F | 1,000,000 | 2.82% |
| FRCB | FIRST REP BK SAN FRAN 4.625 1 DFLT | 1,500,000 | 0.00% |
| GRLPK | GREEN LAKES 8.41659 25JAN38 144A FR | 1,000,000 | 2.52% |
| IONS | IONIS PHARMACEUTIC 0.0 01DEC30 144A | 500,000 | 1.42% |
| IREN | IREN LTD 1.0 01DEC33 144A | 500,000 | 1.44% |
| LEU | CENTRUS ENERGY COR 0.0 15AUG32 144A | 450,000 | 1.38% |
| MAGNE | MAGNETITE 50 10.34659 25JUL38 144A | 250,000 | 0.67% |
| MLFPK | MILFORD PK C 8.52523 20JAN38 144A F | 1,000,000 | 2.60% |
| NAVSL | NAVIENT PRIVATE ED 0.0 15JUL69 144A | 4,722 | 3.04% |
| PMT | PENNYMAC CORP 8.5 01JUN29 | 700,000 | 1.97% |
| PNT | POINT SECURITIZATI 5.5 25JUN55 144A | 1,500,000 | 3.70% |
| SNOW | SNOWFLAKE INC 0.0 01OCT29 | 300,000 | 1.37% |
| TWMAFI | TWMA FINANCE AS 12.25 10FEB29 144A | 1,000,000 | 2.94% |
| - | 2,754 | 0.00% | |
| AGNC | AGNC INV C COM USD0.01 | 115,485 | 3.31% |
| ARR | ARMOUR RES COM USD0.001(POST REV SP | 53,900 | 2.50% |
| CIM | CHIMERA IN COM USD0.01 (PST REV SPL | 51,025 | 1.87% |
| DX | DYNEX CAPI COM USD0.01(POST REV SPL | 134,500 | 4.79% |
| FLL | FULL HSE RESORTS INC USD 0.0001 | 350,600 | 2.79% |
| MFA | MFA FINANC COM USD0.01(POST REV SPL | 186,000 | 4.90% |
| NLY | ANNALY CAP COM USD0.01(POST REV SPL | 80,003 | 4.91% |
| OWL | BLUE OWL CAP INC USD 0.0001 | 96,500 | 2.54% |
| PMT | PENNYMAC M COM USD0.01 | 53,500 | 1.51% |
| RITM | RITHM CAPI COM NPV | 411,593 | 10.45% |
| COU6 COM | BRENT CRUDE FUTR SEP26 | 25 | 0.07% |
| FVU6 COM | US 5YR NOTE (CBT) SEP26 | 150 | -0.10% |
| TUU6 COM | US 2YR NOTE (CBT) Sep26 | 456 | -0.44% |
| - | CRUDE OIL OPT IPE Aug26C 110 | 25 | 0.00% |
| - | 3 Month SOFR Opt Dec26C 96.5 | 1,500 | 0.34% |
| ADBE US 08/21/26 C300 | ADBE Aug 2026 300 Call | 28 | 0.00% |
| QQQ US 06/17/27 C800 | QQQ Jun 2027 800 Call | 30 | 0.53% |
| T Bills | UNITED STS TREAS BILLS 0.0 30JUN26 | 500,000 | 1.38% |
| T Bills | UNITED STS TREAS BILLS 0.0 22SEP26 | 1,000,000 | 2.74% |
| - | DIAMOND SPORTS NE 01/03/28 TERM LOAN | 70,724 | 0.04% |
| AGNC | AGNC INVT CORP 8.63171 CUM PFD | 21,500 | 1.50% |
| CIM | CHIMERA INVT CORP 8.70535 CUM PFD | 53,000 | 3.26% |
| CIM | CHIMERA INVT CORP 9.75335 CUM PFD | 47,142 | 3.04% |
| DX | DYNEX CAP INC CUM PFD | 145 | 0.01% |
| NGL | NGL ENERGY PARTNERS LP CUM PFD | 38,100 | 2.73% |
| QVCGA | QVC GROUP INC 8.0 SER A CUM RED PFD | 43,845 | 0.72% |
| RITM | RITHM CAP CORP 8.75 CUM PFD | 37,584 | 2.54% |
| RITM | RITHM CAP CORP CUM PFD | 30,134 | 2.05% |
| TWO | TWO HBRS INVT CORP 8.125 CUM PFD | 25,254 | 1.74% |
| - | Estimated Cash | 1,091,190 | 3.01% |
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 | |||
| $0.11000 |
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.
