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HIGH

Simplify Enhanced Income ETF

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as of 03/24/2025

NAV

$ 22.47

NAV Change

+ $ 0.12 /0.54%

Price

$ 22.45

Price Change

+ $ 0.12 /0.54%
The Simplify Enhanced Income ETF (HIGH) seeks to provide monthly income by selling short-dated put and/or call spreads on a variety of equity and fixed income instruments, which may include indices, ETFs or individual securities.

The fund is intended to be an alternative high yield solution, as it seeks to provide significant supplemental income to T-bills with low correlation to traditional credit and duration exposure.

A sophisticated option-writing algorithm seeks to sell spreads that generate attractive risk-adjusted returns, while an additional layer of risk management helps manage tail risk associated with selling options.
 
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Can Investors Earn Attractive Yields Without Taking on Extensive Duration or Credit Risk?

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HIGH Fund Deep Dive

Fund Overview

As of 03/24/2025

Ticker Symbol
HIGH
Gross Expense Ratio
0.52%
CUSIP
82889N632
Total Assets
$206,730,175.15
Shares Outstanding
9,200,001
Distribution Rate as of 02/28/2025 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 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.
5.34%
Distribution Frequency
Monthly
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
3.88%
Portfolio Duration
0.09
Options Available
No
Inception Date
10/27/2022
Premium/Discount (%) as of 03/24/2025
-0.09%
NAV Per Share as of 03/24/2025
$22.47
Market Price as of 03/24/2025
$22.45
30-Day Median Bid-Ask Spread
0.09%
Bid/Ask
$22.45/$22.48
Midpoint Price
$22.47
Volume
111,434
NAV Symbol
HIGH.NV
IOPV Symbol
HIGH.IV
Shares Out. Symbol
HIGH.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 Fees0.50%
Distribution and Service (12b-1) Fees0.00%
Other Expenses10.02%
Total Annual Fund Operating Expenses0.52%

1. Other Expenses include interest expenses of 0.02%.

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 -3.09% -3.29% -1.44% -1.57% -1.08% 8.49%
Market Price -3.05% -3.25% -1.38% -1.45% -1.05% 8.03%
Annualized 1 Year 3 Year Since Inception
NAV -1.08% — 3.54%
Market Price -1.05% — 3.36%
Cumulative 1 Year Since Inception
NAV 1.77% 10.21%
Market Price 1.52% 9.62%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV 1.77% — — 4.57%
Market Price 1.52% — — 4.31%
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. 

The Adviser has voluntarily agreed to limit fees. This agreement may change or end at any time. Performance would have been lower without limitations in effect.

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 2024 4th Quarter of 2024
Days Traded at Premium
125
8
Days Traded at Discount
127
56
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 03/24/2025

Holdings - All ETFs
Ticker Name Quantity Weight
GLD US 03/26/25 P252 GLD Mar 2025 252 Put 2,843 0.00%
GLD US 03/26/25 P260 GLD Mar 2025 260 Put -2,843 0.00%
GLD US 03/28/25 P255 GLD Mar 2025 255 Put 2,154 0.00%
GLD US 03/28/25 P265 GLD Mar 2025 265 Put -2,154 -0.01%
GLD US 04/02/25 P260 GLD Apr 2025 260 Put 2,124 0.01%
GLD US 04/02/25 P270 GLD Apr 2025 270 Put -2,124 -0.05%
GLD US 04/04/25 P256 GLD Apr 2025 256 Put 1,766 0.01%
GLD US 04/04/25 P268 GLD Apr 2025 268 Put -1,766 -0.04%
MSTR US 04/04/25 P190 MSTR Apr 2025 190 Put 430 0.01%
MSTR US 04/04/25 P200 MSTR Apr 2025 200 Put 866 0.03%
MSTR US 04/04/25 P240 MSTR Apr 2025 240 Put -430 -0.03%
MSTR US 04/04/25 P250 MSTR Apr 2025 250 Put -866 -0.06%
NDXP US 04/02/25 P17600 NDXP Apr 2025 17600 Put 18 0.00%
NDXP US 04/02/25 P18800 NDXP Apr 2025 18800 Put -18 -0.02%
NDXP US 04/04/25 P17500 NDXP Apr 2025 17500 Put 21 0.00%
NDXP US 04/04/25 P18100 NDXP Apr 2025 18100 Put 20 0.01%
NDXP US 04/04/25 P18500 NDXP Apr 2025 18500 Put -21 -0.02%
NDXP US 04/04/25 P19150 NDXP Apr 2025 19150 Put -20 -0.06%
RUTW US 04/02/25 P1840 RUTW Apr 2025 1840 Put 231 0.00%
RUTW US 04/02/25 P1980 RUTW Apr 2025 1980 Put -231 -0.03%
RUTW US 04/04/25 P1835 RUTW Apr 2025 1835 Put 217 0.01%
RUTW US 04/04/25 P1885 RUTW Apr 2025 1885 Put 216 0.01%
RUTW US 04/04/25 P1935 RUTW Apr 2025 1935 Put -217 -0.02%
RUTW US 04/04/25 P1985 RUTW Apr 2025 1985 Put -216 -0.06%
SPXW US 03/25/25 P5500 SPXW Mar 2025 5500 Put 210 0.00%
SPXW US 03/26/25 C5850 SPXW Mar 2025 5850 Call 2,033 0.14%
SPXW US 03/26/25 P5350 SPXW Mar 2025 5350 Put 156 0.00%
SPXW US 03/28/25 C5950 SPXW Mar 2025 5950 Call 1,625 0.01%
SPXW US 03/28/25 P5250 SPXW Mar 2025 5250 Put -467 -0.01%
SPXW US 03/28/25 P5350 SPXW Mar 2025 5350 Put 467 0.01%
SPXW US 04/02/25 P5125 SPXW Apr 2025 5125 Put 99 0.00%
SPXW US 04/02/25 P5450 SPXW Apr 2025 5450 Put -99 -0.02%
SPXW US 04/04/25 C6000 SPXW Apr 2025 6000 Call 79 0.01%
SPXW US 04/04/25 P5150 SPXW Apr 2025 5150 Put 96 0.01%
SPXW US 04/04/25 P5250 SPXW Apr 2025 5250 Put 94 0.01%
SPXW US 04/04/25 P5375 SPXW Apr 2025 5375 Put -96 -0.02%
SPXW US 04/04/25 P5475 SPXW Apr 2025 5475 Put -94 -0.04%
SPXW US 04/11/25 C6150 SPXW Apr 2025 6150 Call 176 0.01%
SPXW US 04/11/25 C6230 SPXW Apr 2025 6230 Call 219 0.00%
SPXW US 04/17/25 C5800 SPXW Apr 2025 5800 Call 97 0.38%
T Bills UNITED STS TREAS BILLS 0.0 10APR25 159,500,000 77.01%
T Bills UNITED STS TREAS BILLS 0.0 17JUN25 2,600,000 1.25%
T Bills UNITED STS TREAS BILLS 0.0 08JUL25 44,500,000 21.26%
- Estimated Cash 575,049 0.28%

Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date Record Date Payable Date Total Distribution
N/A
$0.10000
$0.11000
$0.11000
$0.14000
View Distribution History
S19(a) Notices 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.
S19(a) Notices Close
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.

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