View All ETFs

MAXI

Simplify Bitcoin Strategy PLUS Income ETF

Spotlight Banner
as of 12/20/2024

NAV

$ 29.21

NAV Change

+ $ 0.90 /3.18%

Price

$ 29.39

Price Change

+ $ 0.83 /2.91%
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.
 
Spotlight Banner

Documents

Fund Overview

As of 12/20/2024

Ticker Symbol
MAXI
Gross Expense Ratio
6.10%
CUSIP
82889N673
Total Assets
$53,982,224.98
Shares Outstanding
1,960,001
Distribution Rate as of 11/30/2024 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.
78.42%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 11/30/2024 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 11/30/2024
1.17%
Options Available
No
Inception Date
09/29/2022
Premium/Discount (%) as of 12/20/2024
0.61%
NAV Per Share as of 12/20/2024
$29.21
Market Price as of 12/20/2024
$29.39
30-Day Median Bid-Ask Spread
0.46%
Bid/Ask
$29.25/$29.40
Midpoint Price
$29.33
Volume
181,812
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 11/30/2024 09/30/2024

Monthly Quarterly
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV 41.20% 65.87% 34.41% 110.54% 134.24% 345.76%
Market Price 42.27% 66.66% 35.46% 111.01% 136.74% 349.59%
Annualized 1 Year 3 Year Since Inception
NAV 134.24% — 99.13%
Market Price 136.74% — 100.10%
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 12/20/2024

Holdings - All ETFs
Ticker Name Quantity Weight
BTCF5 CUR CME Bitcoin Fut Jan25 101 91.14%
BTCZ4 CUR CME Bitcoin Fut Dec24 18 16.05%
GLD US 01/03/25 P220 GLD Jan 2025 220 Put 934 —
GLD US 01/03/25 P232 GLD Jan 2025 232 Put -934 —
GLD US 12/20/24 P225 GLD Dec 2024 225 Put 1,222 0.00%
GLD US 12/20/24 P234 GLD Dec 2024 234 Put -1,222 0.00%
GLD US 12/27/24 P228 GLD Dec 2024 228 Put 1,329 0.03%
GLD US 12/27/24 P237 GLD Dec 2024 237 Put -1,329 -0.10%
GLD US 12/31/24 P210 GLD Dec 2024 210 Put 669 0.00%
GLD US 12/31/24 P229 GLD Dec 2024 229 Put -669 -0.02%
IBIT US 01/10/25 C65 IBIT Jan 2025 65 Call 7,500 0.83%
IBIT US 12/27/24 C68 IBIT Dec 2024 68 Call 15,096 0.14%
MSTR US 01/03/25 P250 MSTR Jan 2025 250 Put 487 —
MSTR US 01/03/25 P300 MSTR Jan 2025 300 Put -487 —
MSTR US 12/20/24 P250 MSTR Dec 2024 250 Put 1,907 0.02%
MSTR US 12/20/24 P300 MSTR Dec 2024 300 Put -1,907 0.00%
MSTR US 12/27/24 P270 MSTR Dec 2024 270 Put 549 0.19%
MSTR US 12/27/24 P320 MSTR Dec 2024 320 Put -549 -0.47%
NDX US 12/20/24 P19740 NASDAQ 100 Dec 2024 19740 Put 10 —
NDX US 12/20/24 P20760 NASDAQ 100 Dec 2024 20760 Put -10 —
NDXP US 01/03/25 P18800 NDXP Jan 2025 18800 Put 8 —
NDXP US 01/03/25 P20200 NDXP Jan 2025 20200 Put -8 —
NDXP US 12/24/24 P19950 NDXP Dec 2024 19950 Put 11 0.00%
NDXP US 12/24/24 P20950 NDXP Dec 2024 20950 Put -11 -0.07%
NDXP US 12/27/24 P19750 NDXP Dec 2024 19750 Put 10 0.01%
NDXP US 12/27/24 P20850 NDXP Dec 2024 20850 Put -10 -0.12%
NDXP US 12/31/24 P18750 NDXP Dec 2024 18750 Put 8 0.01%
NDXP US 12/31/24 P20250 NDXP Dec 2024 20250 Put -8 -0.07%
RUTW US 01/03/25 P1980 RUTW Jan 2025 1980 Put 77 —
RUTW US 01/03/25 P2130 RUTW Jan 2025 2130 Put -77 —
RUTW US 12/20/24 P2150 RUTW Dec 2024 2150 Put 84 0.00%
RUTW US 12/20/24 P2280 RUTW Dec 2024 2280 Put -84 -0.57%
RUTW US 12/24/24 P2175 RUTW Dec 2024 2175 Put 102 0.05%
RUTW US 12/24/24 P2290 RUTW Dec 2024 2290 Put -102 -0.85%
RUTW US 12/27/24 P2125 RUTW Dec 2024 2125 Put 109 0.09%
RUTW US 12/27/24 P2235 RUTW Dec 2024 2235 Put -109 -0.40%
RUTW US 12/31/24 P1930 RUTW Dec 2024 1930 Put 73 0.01%
RUTW US 12/31/24 P2105 RUTW Dec 2024 2105 Put -73 -0.06%
SPXW US 01/03/25 P5250 SPXW Jan 2025 5250 Put 60 —
SPXW US 01/03/25 P5630 SPXW Jan 2025 5630 Put -60 —
SPXW US 12/20/24 C6175 SPXW Dec 2024 6175 Call 83 0.00%
SPXW US 12/20/24 P5750 SPXW Dec 2024 5750 Put 73 0.00%
SPXW US 12/23/24 P5775 SPXW Dec 2024 5775 Put 68 0.01%
SPXW US 12/24/24 P5660 SPXW Dec 2024 5660 Put 28 0.00%
SPXW US 12/27/24 C6030 SPXW Dec 2024 6030 Call 175 —
SPXW US 12/27/24 P5560 SPXW Dec 2024 5560 Put 38 0.01%
SPXW US 12/27/24 P5655 SPXW Dec 2024 5655 Put 75 —
SPXW US 12/27/24 P5870 SPXW Dec 2024 5870 Put -38 -0.14%
SPXW US 12/31/24 P5240 SPXW Dec 2024 5240 Put 30 0.01%
SPXW US 12/31/24 P5655 SPXW Dec 2024 5655 Put -30 -0.05%
- TREASURY BILL DN 1/25 2,600,000 4.79%
- TREASURY BIL 0.0 3/25 17,300,000 31.63%
- TREASURY BIL 0.0 3/25 8,300,000 15.18%
- TREASURY BILL DN 4/25 22,400,000 40.87%
- TREASURY BILL DN 4/25 6,300,000 11.49%
- Estimated Cash 2,056,682 3.80%

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

Register for Simplify's Investor Hub

  • In-depth case studies provide valuable insights into practical portfolio problems and their solutions
  • Simplify curated model portfolios that show investors how to incorporate alternatives into their portfolio
  • Stay up-to-date with our latest thoughts on markets via our weekly market commentaries
Create Your Account
Register Info
Contact Us