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MAXI

Simplify Bitcoin Strategy PLUS Income ETF

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as of 11/19/2024

NAV

$ 30.75

NAV Change

+ $ 0.43 /1.42%

Price

$ 30.89

Price Change

+ $ 0.46 /1.51%
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 11/19/2024

Ticker Symbol
MAXI
Gross Expense Ratio
6.10%
CUSIP
82889N673
Total Assets
$43,360,714.70
Shares Outstanding
1,410,001
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.
51.85%
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.
-
30-Day SEC Yield (Unsubsidized) as of 10/31/2024
1.37%
Options Available
No
Inception Date
09/29/2022
Premium/Discount (%) as of 11/19/2024
0.45%
NAV Per Share as of 11/19/2024
$30.75
Market Price as of 11/19/2024
$30.89
30-Day Median Bid-Ask Spread
0.47%
Bid/Ask
$30.76/$30.90
Midpoint Price
$30.83
Volume
43,464
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 10/31/2024 09/30/2024

Monthly Quarterly
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV 9.56% 1.03% 10.05% 49.11% 78.88% 215.69%
Market Price 9.82% 0.72% 10.37% 48.32% 78.83% 216.02%
Annualized 1 Year 3 Year Since Inception
NAV 78.88% — 73.44%
Market Price 78.83% — 73.65%
Cumulative 1 Year Since Inception
NAV 108.73% 188.15%
Market Price 107.04% 187.76%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV 108.73% — — 69.63%
Market Price 107.04% — — 69.63%
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 2023 3rd Quarter of 2024
Days Traded at Premium
167
60
Days Traded at Discount
80
4
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
BTCX4 CUR CME Bitcoin Fut Nov24 52 55.80%
BTCZ4 CUR CME Bitcoin Fut Dec24 40 43.31%
GLD US 11/29/24 P215 GLD Nov 2024 215 Put 386 0.00%
GLD US 11/29/24 P226 GLD Nov 2024 226 Put -386 -0.01%
NDXP US 11/20/24 P18750 NDXP Nov 2024 18750 Put 5 0.00%
NDXP US 11/20/24 P19750 NDXP Nov 2024 19750 Put -5 0.00%
NDXP US 11/22/24 P19100 NDXP Nov 2024 19100 Put 6 0.00%
NDXP US 11/22/24 P20100 NDXP Nov 2024 20100 Put -6 -0.04%
NDXP US 11/27/24 P19250 NDXP Nov 2024 19250 Put 9 0.02%
NDXP US 11/27/24 P20150 NDXP Nov 2024 20150 Put -9 -0.14%
NDXP US 11/29/24 P18250 NDXP Nov 2024 18250 Put 7 0.01%
NDXP US 11/29/24 P19350 NDXP Nov 2024 19350 Put -7 -0.02%
RUTW US 11/20/24 P2130 RUTW Nov 2024 2130 Put 47 0.00%
RUTW US 11/20/24 P2250 RUTW Nov 2024 2250 Put -47 0.00%
RUTW US 11/22/24 P2155 RUTW Nov 2024 2155 Put 52 0.00%
RUTW US 11/22/24 P2275 RUTW Nov 2024 2275 Put -52 -0.04%
RUTW US 11/27/24 P2125 RUTW Nov 2024 2125 Put 60 0.01%
RUTW US 11/27/24 P2265 RUTW Nov 2024 2265 Put -60 -0.10%
RUTW US 11/29/24 P2070 RUTW Nov 2024 2070 Put 70 0.01%
RUTW US 11/29/24 P2190 RUTW Nov 2024 2190 Put -70 -0.03%
SPXW US 11/20/24 P5350 SPXW Nov 2024 5350 Put 17 0.00%
SPXW US 11/20/24 P5680 SPXW Nov 2024 5680 Put -17 0.00%
SPXW US 11/22/24 P5450 SPXW Nov 2024 5450 Put 19 0.00%
SPXW US 11/22/24 P5775 SPXW Nov 2024 5775 Put -19 -0.01%
SPXW US 11/27/24 P5550 SPXW Nov 2024 5550 Put 32 0.01%
SPXW US 11/27/24 P5805 SPXW Nov 2024 5805 Put -32 -0.09%
SPXW US 11/29/24 P5350 SPXW Nov 2024 5350 Put 28 0.01%
SPXW US 11/29/24 P5650 SPXW Nov 2024 5650 Put -28 -0.02%
- TREASURY BILL DN 12/24 10,300,000 23.69%
- TREASURY BILL DN 12/24 8,400,000 19.32%
- WI TSY BILL DN 12/24 11,800,000 27.12%
- WI TSY BILL DN 12/24 8,000,000 18.39%
- WI TSY BILL DN 1/25 2,600,000 5.96%
- Estimated Cash -3,409,961 -7.86%

Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date Record Date Payable Date Total Distribution
N/A
$1.00000
$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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