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HEQT

Simplify Hedged Equity ETF

Morningstar Morningstar RatingTM

Overall rating based on risk-adjusted returns among
149 funds in the Equity Hedged category as of 02/28/25.

as of 04/01/2025

NAV

$ 28.60

NAV Change

+ $ 0.02 /0.07%

Price

$ 28.61

Price Change

+ $ 0.04 /0.14%

The Simplify Hedged Equity ETF (HEQT) seeks to provide capital appreciation by offering US large cap exposure while investing in a series of put-spread collars designed to serve as an equity hedge and help reduce volatility.

Equities + put-spread collars have become a popular way to create more conservative, lower volatility equity investments. They allow upside market participation with downside hedges to help reduce risk. By deploying a ladder of collars that expire over 3 sequential months, the fund seeks to create a hedged equity experience that is additionally robust to rebalancing luck.
 

HEQT Overview

HEQT Fund Deep Dive

Fund Overview

As of 04/01/2025

Ticker Symbol
HEQT
Gross Expense Ratio
0.54%
Net Expense Ratio
0.44%
CUSIP
82889N764
Total Assets
$409,737,929.11
Shares Outstanding
14,325,001
Distribution Rate as of 12/31/2024 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.
1.36%
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.
0.88%
30-Day SEC Yield (Unsubsidized) as of 02/28/2025
0.78%
Options Available
Yes
Inception Date
11/01/2021
Premium/Discount (%) as of 04/01/2025
0.02%
NAV Per Share as of 04/01/2025
$28.60
Market Price as of 04/01/2025
$28.61
30-Day Median Bid-Ask Spread
0.14%
Bid/Ask
$28.58/$28.62
Midpoint Price
$28.60
Volume
49,060
NAV Symbol
HEQT.NV
IOPV Symbol
HEQT.IV
Shares Out. Symbol
HEQT.SO
Schedule K-1
No



 

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 Fees0.50%
Distribution and Service (12b-1) Fees0.00%
Other Expenses10.01%
Acquired Fund Fees and Expenses20.03%
Total Annual Fund Operating Expenses0.54%
Fee Waiver3(0.10%)
Total Annual Fund Operating Expenses0.44%

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 operatingexpenses in this fee table do not correlate to the expense ratio in the Fund’s financial highlights because the financialstatements include only the direct operating expenses incurred by the Fund.

3. The Fund’s adviser has contractually agreed, through at least October 31, 2025, to waive its management fees to 0.40% ofthe Fund’s average daily net assets.

Fund Performance (Total Return)

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

Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV -0.44% 0.11% 5.74% 1.52% 16.09% 31.65%
Market Price -0.56% 0.07% 5.81% 1.49% 15.93% 31.22%
Annualized 1 Year 3 Year Since Inception
NAV 16.09% 10.73% 8.62%
Market Price 15.93% 10.78% 8.52%
Cumulative 1 Year Since Inception
NAV 18.32% 29.68%
Market Price 18.29% 29.29%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV 18.32% 8.15% 8.56%
Market Price 18.29% 8.17% 8.46%

Historical Premium/Discount

Calendar Year 2024 1st Quarter of 2025
Days Traded at Premium
160
47
Days Traded at Discount
92
13

Portfolio Holdings

Ticker Name Quantity Weight
IVV ISHARES CORE S+P 500 ETF 713,678 98.20%
SPX US 04/17/25 C6230 S&P 500 Index Apr 2025 6230 Call -241 0.00%
SPX US 04/17/25 P4750 S&P 500 Index Apr 2025 4750 Put -241 -0.02%
SPX US 04/17/25 P5650 S&P 500 Index Apr 2025 5650 Put 241 0.56%
SPX US 05/16/25 C6400 S&P 500 Index May 2025 6400 Call -241 0.00%
SPX US 05/16/25 P4875 S&P 500 Index May 2025 4875 Put -241 -0.09%
SPX US 05/16/25 P5800 S&P 500 Index May 2025 5800 Put 241 1.23%
SPX US 06/20/25 C5940 S&P 500 Index Jun 2025 5940 Call -242 -0.34%
SPX US 06/20/25 P4525 S&P 500 Index Jun 2025 4525 Put -242 -0.10%
SPX US 06/20/25 P5375 S&P 500 Index Jun 2025 5375 Put 242 0.56%
- Estimated Cash 23,858 0.01%

Recent Distributions

Ex-Dividend Date Record Date Payable Date Total Distribution
N/A
$0.08000
$0.10000
$0.08000
$0.10000
View Distribution History

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