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MAXI

Simplify Bitcoin Strategy PLUS Income ETF

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as of 01/17/2025

NAV

$ 31.20

NAV Change

+ $ 2.22 /7.66%

Price

$ 31.57

Price Change

+ $ 2.44 /8.38%
The Simplify Bitcoin Strategy PLUS Income ETF (MAXI) seeks capital gains and income by providing investors with exposure to bitcoin while simultaneously generating 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 designed to be a capital efficient way to simultaneously invest in bitcoin and potentially generate significant income. The fund can also be viewed as bitcoin exposure with a downside buffer, by virtue of the padding the income may create to any bitcoin drawdowns.*

*The fund does not invest in bitcoin directly; it invests in bitcoin futures.
 
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Documents

Fund Overview

As of 01/17/2025

Ticker Symbol
MAXI
Gross Expense Ratio
6.10%
CUSIP
82889N673
Total Assets
$74,869,227.26
Shares Outstanding
2,400,001
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.
76.96%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 12/31/2024 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.
-
30-Day SEC Yield (Unsubsidized) as of 12/31/2024
1.88%
Options Available
No
Inception Date
09/29/2022
Premium/Discount (%) as of 01/17/2025
1.20%
NAV Per Share as of 01/17/2025
$31.20
Market Price as of 01/17/2025
$31.57
30-Day Median Bid-Ask Spread
0.47%
Bid/Ask
$31.40/$31.58
Midpoint Price
$31.49
Volume
235,198
NAV Symbol
MAXI.NV
IOPV Symbol
MAXI.IV
Shares Out. Symbol
MAXI.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 0.85%
Distribution and Service (12b-1) Fees 0.00%
Other Expenses1 5.24%
Acquired Fund Fees and Expenses2 0.01%
Total Annual Fund Operating Expenses 6.10%
1. Other Expenses includes interest expenses of 5.24%.

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 12/31/2024 12/31/2024

Monthly Quarterly
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV -9.50% 39.99% 38.60% 90.53% 90.53% 303.39%
Market Price -8.40% 43.12% 42.19% 93.28% 93.28% 311.82%
Annualized 1 Year 3 Year Since Inception
NAV 90.53% — 85.63%
Market Price 93.28% — 87.48%
Cumulative 1 Year Since Inception
NAV 90.53% 303.39%
Market Price 93.28% 311.82%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV 90.53% — — 85.63%
Market Price 93.28% — — 87.48%
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
222
62
Days Traded at Discount
29
2
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 01/17/2025

Holdings - All ETFs
Ticker Name Quantity Weight
BTCF5 CUR CME Bitcoin Fut Jan25 111 77.97%
BTCG5 CUR CME Bitcoin Fut Feb25 23 16.30%
GLD US 01/29/25 P231 GLD Jan 2025 231 Put 1,489 0.02%
GLD US 01/29/25 P240 GLD Jan 2025 240 Put -1,489 -0.06%
GLD US 01/31/25 P229 GLD Jan 2025 229 Put 1,220 0.01%
GLD US 01/31/25 P240 GLD Jan 2025 240 Put -1,220 -0.11%
IBIT US 01/31/25 C49 IBIT Jan 2025 49 Call 7,300 10.71%
MSTR US 01/24/25 P200 MSTR Jan 2025 200 Put 201 0.01%
MSTR US 01/24/25 P250 MSTR Jan 2025 250 Put 269 0.03%
MSTR US 01/24/25 P260 MSTR Jan 2025 260 Put -201 -0.03%
MSTR US 01/24/25 P300 MSTR Jan 2025 300 Put -269 -0.07%
MSTR US 01/31/25 P220 MSTR Jan 2025 220 Put 209 0.03%
MSTR US 01/31/25 P250 MSTR Jan 2025 250 Put 297 0.07%
MSTR US 01/31/25 P285 MSTR Jan 2025 285 Put -209 -0.09%
MSTR US 01/31/25 P300 MSTR Jan 2025 300 Put -297 -0.17%
NDXP US 01/22/25 P19400 NDXP Jan 2025 19400 Put 6 0.00%
NDXP US 01/22/25 P20450 NDXP Jan 2025 20450 Put -6 0.00%
NDXP US 01/29/25 P19200 NDXP Jan 2025 19200 Put 13 0.01%
NDXP US 01/29/25 P20200 NDXP Jan 2025 20200 Put -13 -0.04%
NDXP US 01/31/25 P19000 NDXP Jan 2025 19000 Put 12 0.01%
NDXP US 01/31/25 P20050 NDXP Jan 2025 20050 Put -12 -0.05%
NDXP US 02/05/25 P19000 NDXP Feb 2025 19000 Put 12 0.02%
NDXP US 02/05/25 P20175 NDXP Feb 2025 20175 Put -12 -0.09%
RUTW US 01/24/25 P2000 RUTW Jan 2025 2000 Put 93 0.00%
RUTW US 01/24/25 P2135 RUTW Jan 2025 2135 Put -93 -0.01%
RUTW US 01/29/25 P2030 RUTW Jan 2025 2030 Put 122 0.01%
RUTW US 01/29/25 P2140 RUTW Jan 2025 2140 Put -122 -0.05%
RUTW US 01/31/25 P2015 RUTW Jan 2025 2015 Put 107 0.01%
RUTW US 01/31/25 P2140 RUTW Jan 2025 2140 Put -107 -0.06%
SPXW US 01/22/25 P5450 SPXW Jan 2025 5450 Put 21 0.00%
SPXW US 01/22/25 P5700 SPXW Jan 2025 5700 Put 92 0.00%
SPXW US 01/22/25 P5740 SPXW Jan 2025 5740 Put -21 0.00%
SPXW US 01/24/25 C6090 SPXW Jan 2025 6090 Call 466 0.47%
SPXW US 01/24/25 P5700 SPXW Jan 2025 5700 Put 129 0.02%
SPXW US 01/29/25 P5475 SPXW Jan 2025 5475 Put 54 0.01%
SPXW US 01/29/25 P5720 SPXW Jan 2025 5720 Put -54 -0.04%
SPXW US 01/31/25 P5430 SPXW Jan 2025 5430 Put 47 0.01%
SPXW US 01/31/25 P5710 SPXW Jan 2025 5710 Put -47 -0.05%
SPXW US 02/05/25 P5400 SPXW Feb 2025 5400 Put 44 0.02%
SPXW US 02/05/25 P5725 SPXW Feb 2025 5725 Put -44 -0.07%
- TREASURY BILL DN 2/25 2,000,000 2.66%
- TREASURY BILL DN 3/25 13,700,000 18.17%
- TREASURY BILL DN 3/25 4,700,000 6.23%
- TREASURY BILL DN 4/25 22,400,000 29.64%
- TREASURY BILL DN 4/25 14,000,000 18.51%
- TREASURY BILL DN 4/25 6,000,000 7.93%
- Estimated Cash 1,228,885 1.64%

Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date Record Date Payable Date Total Distribution
$1.66997
$2.00000
$1.00000
$1.00000
$1.00000
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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