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MAXI

Simplify Bitcoin Strategy PLUS Income ETF

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as of 02/20/2025

NAV

$ 26.72

NAV Change

+ $ 0.42 /1.60%

Price

$ 26.78

Price Change

+ $ 0.47 /1.79%

The Simplify Bitcoin Strategy PLUS Income ETF (MAXI) seeks capital gains through an actively managed Bitcoin strategy. A risk-managed options overlay is added to provide income.

The Bitcoin exposure will vary between 50% to 200% of the fund’s net assets, based on a proprietary technical model. Exposure may be gained through various instruments, including Bitcoin ETFs, futures, options, or swaps.

The options income strategy will focus on selling put spreads on a variety of instruments, including equity indices as well as bond and commodity ETFs.*

*The fund does not invest in bitcoin directly.

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Documents

Fund Overview

As of 02/20/2025

Ticker Symbol
MAXI
Gross Expense Ratio
6.10%
CUSIP
82889N673
Total Assets
$61,466,363.36
Shares Outstanding
2,300,001
Distribution Rate as of 01/31/2025 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.
6.15%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 01/31/2025 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 01/31/2025
1.23%
Options Available
No
Inception Date
09/29/2022
Premium/Discount (%) as of 02/20/2025
0.21%
NAV Per Share as of 02/20/2025
$26.72
Market Price as of 02/20/2025
$26.78
30-Day Median Bid-Ask Spread
0.45%
Bid/Ask
$26.66/$26.78
Midpoint Price
$26.72
Volume
32,467
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 01/31/2025 12/31/2024

Monthly Quarterly
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV 12.92% 44.28% 45.77% 12.92% 113.77% 355.50%
Market Price 9.67% 42.92% 43.95% 9.67% 113.74% 351.64%
Annualized 1 Year 3 Year Since Inception
NAV 113.77% — 91.18%
Market Price 113.74% — 90.63%
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 02/20/2025

Holdings - All ETFs
Ticker Name Quantity Weight
BTCH5 CUR CME Bitcoin Fut Mar25 8 6.47%
GLD US 02/21/25 P246 GLD Feb 2025 246 Put 1,680 0.00%
GLD US 02/21/25 P254 GLD Feb 2025 254 Put -1,680 0.00%
GLD US 02/26/25 P245 GLD Feb 2025 245 Put 1,028 0.00%
GLD US 02/26/25 P257 GLD Feb 2025 257 Put -1,028 -0.01%
GLD US 03/05/25 P250 GLD Mar 2025 250 Put 1,245 0.01%
GLD US 03/05/25 P260 GLD Mar 2025 260 Put -1,245 -0.06%
IBIT US 02/28/25 C49 IBIT Feb 2025 49 Call 7,100 8.32%
MSTR US 02/21/25 P240 MSTR Feb 2025 240 Put 247 0.00%
MSTR US 02/21/25 P290 MSTR Feb 2025 290 Put -247 0.00%
MSTR US 02/28/25 P220 MSTR Feb 2025 220 Put 226 0.01%
MSTR US 02/28/25 P240 MSTR Feb 2025 240 Put 253 0.01%
MSTR US 02/28/25 P275 MSTR Feb 2025 275 Put -226 -0.03%
MSTR US 02/28/25 P290 MSTR Feb 2025 290 Put -253 -0.05%
MSTR US 03/07/25 P225 MSTR Mar 2025 225 Put 280 0.02%
MSTR US 03/07/25 P270 MSTR Mar 2025 270 Put -280 -0.06%
NDXP US 02/28/25 P19650 NDXP Feb 2025 19650 Put 10 0.01%
NDXP US 02/28/25 P20850 NDXP Feb 2025 20850 Put -10 -0.02%
NDXP US 03/05/25 P19750 NDXP Mar 2025 19750 Put 10 0.01%
NDXP US 03/05/25 P20925 NDXP Mar 2025 20925 Put -10 -0.05%
NDXP US 03/07/25 P19700 NDXP Mar 2025 19700 Put 9 0.02%
NDXP US 03/07/25 P21000 NDXP Mar 2025 21000 Put -9 -0.08%
RUTW US 02/28/25 P2050 RUTW Feb 2025 2050 Put 103 0.01%
RUTW US 02/28/25 P2170 RUTW Feb 2025 2170 Put -103 -0.04%
RUTW US 03/05/25 P2075 RUTW Mar 2025 2075 Put 112 0.02%
RUTW US 03/05/25 P2185 RUTW Mar 2025 2185 Put -112 -0.11%
SPXW US 02/21/25 P5825 SPXW Feb 2025 5825 Put 205 0.01%
SPXW US 02/26/25 P5835 SPXW Feb 2025 5835 Put 185 0.03%
SPXW US 02/28/25 C6100 SPXW Feb 2025 6100 Call 29 0.25%
SPXW US 02/28/25 C6265 SPXW Feb 2025 6265 Call 177 0.03%
SPXW US 02/28/25 P5450 SPXW Feb 2025 5450 Put 36 0.00%
SPXW US 02/28/25 P5785 SPXW Feb 2025 5785 Put -36 -0.01%
SPXW US 03/05/25 P5525 SPXW Mar 2025 5525 Put 37 0.01%
SPXW US 03/05/25 P5860 SPXW Mar 2025 5860 Put -37 -0.03%
SPXW US 03/07/25 C6120 SPXW Mar 2025 6120 Call 15 0.14%
SPXW US 03/07/25 C6150 SPXW Mar 2025 6150 Call 12 0.08%
SPXW US 03/07/25 P5550 SPXW Mar 2025 5550 Put 35 0.02%
SPXW US 03/07/25 P5900 SPXW Mar 2025 5900 Put -35 -0.06%
- TREASURY BILL DN 2/25 4,000,000 6.50%
- TREASURY BILL DN 3/25 17,500,000 28.40%
- TREASURY BILL DN 3/25 5,200,000 8.44%
- TREASURY BILL DN 4/25 22,900,000 37.09%
- TREASURY BILL DN 4/25 4,800,000 7.77%
- TREASURY BILL DN 4/25 900,000 1.46%
- Estimated Cash 1,116,598 1.82%

Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date Record Date Payable Date Total Distribution
N/A
$0.15000
$1.66997
$2.00000
$1.00000
View Distribution History
Supplemental Information: S19(a) Notices

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