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NMB

Simplify National Muni Bond ETF

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as of 04/14/2025

NAV

$ 24.07

NAV Change

+ $ 0.03 /0.12%

Price

$ 24.10

Price Change

+ $ 0.03 /0.12%
The Simplify National Muni Bond ETF (NMB) seeks income with capital appreciation as a secondary objective.

The fund is an actively managed ETF that seeks to achieve its investment objective by investing primarily in investment-grade U.S. municipal bonds, with attractive tax-free yields.

NMB also employs an actively managed municipal bond strategy that pursues opportunistic investing in securities overlooked by passive mandates. In addition, the fund runs a diversified, multi-asset options writing strategy seeking to further enhance returns.

Foundation Credit is the fund's Subadvisor for the municipal portfolio. 
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Documents

Fund Overview

As of 04/14/2025

Ticker Symbol
NMB
Gross Expense Ratio
0.52%
CUSIP
82889N442
Total Assets
$85,437,141.13
Shares Outstanding
3,550,001
Distribution Rate as of 03/31/2025 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.
4.58%
Distribution Frequency
Quarterly
30-Day SEC Yield (Subsidized) as of 03/31/2025 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 03/31/2025
4.03%
Portfolio Duration
12.81
Options Available
No
Inception Date
09/09/2024
Premium/Discount (%) as of 04/14/2025
0.14%
NAV Per Share as of 04/14/2025
$24.07
Market Price as of 04/14/2025
$24.10
30-Day Median Bid-Ask Spread
0.26%
Bid/Ask
$24.10/$24.25
Midpoint Price
$24.18
Volume
853
NAV Symbol
NMB.NV
IOPV Symbol
NMB.IV
Shares Out. Symbol
NMB.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%
Acquired Fund Fees and Expenses10.01%
Other Expenses20.01%
Total Annual Fund Operating Expenses0.52%

1. Acquired Fund Fees and Expenses, which are estimated for the Fund’s initial fiscal year, are the indirect costs of investing in other investment companies. The operating expenses in this fee table will 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.

2. Other Expenses are estimated for the Fund’s initial fiscal year.

Fund Performance (Total Return)

As of 03/31/2025 03/31/2025

Monthly Quarterly
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV -4.41% -5.62% -7.98% -5.62% — -7.11%
Market Price -4.63% -5.66% -8.26% -5.66% — -7.47%
Annualized 1 Year 3 Year Since Inception
NAV — — —
Market Price — — —
Cumulative 1 Year Since Inception
NAV — -7.11%
Market Price — -7.47%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV — — — —
Market Price — — — —
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. 

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 1st Quarter of 2025
Days Traded at Premium
39
27
Days Traded at Discount
40
33
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 04/14/2025

Holdings - All ETFs
Ticker Name Quantity Weight
ALESCD ALEDO TEX INDPT SCH DIS 3.0 15FEB50 2,500,000 2.05%
CONSCD CONROE TEX INDPT SCH DI 4.0 15FEB50 3,000,000 3.15%
DCTTRN WASHINGTON D C MET AR 4.375 15JUL59 4,000,000 4.18%
DCTTRN WASHINGTON D C MET ARE 5.25 15JUL59 2,565,000 3.14%
FLSTRN FLORIDA ST TPK AUTH TPK 4.0 01JUL54 2,500,000 2.60%
GREAPT GREATER ORLANDO AVIATIO 4.0 01OCT49 3,350,000 3.33%
IDSGEN IDAHO HSG + FIN ASSN SA 4.0 15AUG50 2,500,000 2.59%
LOSAPT LOS ANGELES CALIF DEPT 5.25 15MAY50 2,500,000 2.97%
LOSAPT LOS ANGELES CALIF DEPT 5.0 15MAY55 2,000,000 2.32%
LWCGEN LOWER COLO RIV AUTH TEX 5.0 15MAY55 2,000,000 2.36%
MAS MASSACHUSETTS ST 5.0 01MAY54 2,000,000 2.43%
MDCTRN MIAMI-DADE CNTY FLA SEA 3.0 01OCT50 1,930,000 1.57%
METAPT METROPOLITAN WASH D C A 4.0 01OCT52 2,000,000 1.98%
MIATRN MIAMI-DADE CNTY FLA AV 5.25 01OCT55 3,000,000 3.63%
NESSFH NEBRASKA INVT FIN AUTH 4.65 01SEP55 2,000,000 2.26%
NYC NEW YORK N Y 4.25 01AUG55 1,750,000 1.87%
NYCUTL NEW YORK N Y CITY MUN 4.25 15JUN53 2,500,000 2.75%
NYSDEV NEW YORK ST URBAN DEV C 5.0 15MAR50 2,500,000 2.97%
NYSDEV NEW YORK ST URBAN DEV C 3.0 15MAR50 2,500,000 2.00%
NYSGEN NEW YORK ST DORM AUTH S 5.0 15MAR49 2,500,000 3.00%
NYSHGR NEW YORK ST DORM AUTH R 4.0 01MAY54 2,500,000 2.52%
OMAPWR OMAHA PUB PWR DIST NEB 5.0 01FEB54 2,000,000 2.43%
PASTRN PENNSYLVANIA ST TPK C 4.125 01DEC50 2,000,000 2.23%
PASTRN PENNSYLVANIA ST TPK COM 4.0 01DEC53 2,500,000 2.53%
PASTRN PENNSYLVANIA ST TPK CO 5.25 01DEC55 2,120,000 2.61%
PHOAPT PHOENIX ARIZ CIVIC IMP 3.25 01JUL49 2,000,000 1.71%
SALAGR SALT RIV PROJ AGRIC IM 5.25 01JAN53 3,000,000 3.73%
SCSUTL SOUTH CAROLINA ST PUB S 5.0 01DEC54 2,000,000 2.41%
SDGAPT SAN DIEGO CNTY CALIF RE 5.0 01JUL53 3,000,000 3.53%
SDGAPT SAN DIEGO CNTY CALIF RE 5.0 01JUL56 3,000,000 3.47%
SDGEDU SAN DIEGO CALIF UNI SCH 4.0 01JUL53 2,500,000 2.67%
SMNSCD SHERMAN TEX INDPT SCH D 5.0 15FEB53 2,000,000 2.41%
TXSWTR TEXAS WTR DEV BRD REV 4.375 15OCT54 3,630,000 3.84%
GLD US 04/17/25 P253 GLD Apr 2025 253 Put 455 0.00%
GLD US 04/17/25 P263 GLD Apr 2025 263 Put -455 0.00%
GLD US 04/25/25 P270 GLD Apr 2025 270 Put 370 0.01%
GLD US 04/25/25 P282 GLD Apr 2025 282 Put -370 -0.03%
MSTR US 04/25/25 P210 MSTR Apr 2025 210 Put 89 0.01%
MSTR US 04/25/25 P260 MSTR Apr 2025 260 Put -89 -0.04%
NDXP US 04/25/25 P16400 NDXP Apr 2025 16400 Put 4 0.02%
NDXP US 04/25/25 P17400 NDXP Apr 2025 17400 Put -4 -0.06%
RUTW US 04/16/25 P1800 RUTW Apr 2025 1800 Put 41 0.02%
RUTW US 04/16/25 P1910 RUTW Apr 2025 1910 Put -41 -0.18%
RUTW US 04/25/25 P1640 RUTW Apr 2025 1640 Put 45 0.02%
RUTW US 04/25/25 P1740 RUTW Apr 2025 1740 Put -45 -0.05%
SPXW US 04/16/25 C5500 SPXW Apr 2025 5500 Call 137 0.28%
SPXW US 04/16/25 P5100 SPXW Apr 2025 5100 Put 16 0.01%
SPXW US 04/16/25 P5375 SPXW Apr 2025 5375 Put -16 -0.08%
SPXW US 04/17/25 C5800 SPXW Apr 2025 5800 Call 160 0.00%
SPXW US 04/21/25 P5050 SPXW Apr 2025 5050 Put -58 -0.09%
SPXW US 04/21/25 P5150 SPXW Apr 2025 5150 Put 58 0.15%
SPXW US 04/25/25 P4760 SPXW Apr 2025 4760 Put 15 0.02%
SPXW US 04/25/25 P5055 SPXW Apr 2025 5055 Put -15 -0.05%
- Estimated Cash 9,205,828 10.78%

Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date Record Date Payable Date Total Distribution
N/A
$0.26000
$0.27332
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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