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RFIX

Simplify Bond Bull ETF

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as of 06/06/2025

NAV

$ 47.15

NAV Change

- $ 1.13 /2.34%

Price

$ 47.55

Price Change

- $ 1.26 /2.58%

The Simplify Bond Bull ETF (RFIX) seeks to hedge interest rate movements arising from falling long-term interest rates, and to benefit from market stress when fixed income volatility increases, while providing the potential for income.

The fund primarily holds a position in long-term expiry (5-year to 7-year) over-the-counter (OTC) interest rate options intended to provide a direct, transparent, and convex exposure to downward moves in interest rates.

Using OTC derivatives, RFIX is designed to be functionally similar to owning a position in long-dated call options on US Treasury bonds.

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Documents

RFIX Fund Deep Dive Live

RFIX Fund Deep Dive

Fund Overview

As of 06/06/2025

Ticker Symbol
RFIX
Gross Expense Ratio
0.50%
CUSIP
82889N376
Total Assets
$147,351,891.12
Shares Outstanding
3,125,001
Distribution Rate as of 04/30/2025 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.
3.49%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 04/30/2025 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 04/30/2025
3.81%
Portfolio Duration
38.59
Options Available
No
Inception Date
12/09/2024
Premium/Discount (%) as of 06/06/2025
0.84%
NAV Per Share as of 06/06/2025
$47.15
Market Price as of 06/06/2025
$47.55
30-Day Median Bid-Ask Spread
0.78%
Bid/Ask
$47.16/$47.46
Midpoint Price
$47.31
Volume
16,958
NAV Symbol
RFIX.NV
IOPV Symbol
RFIX.IV
Shares Out. Symbol
RFIX.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. Distribution includes an estimated 0% Return of Capital ("ROC"). The ROC percentage indicates the percentage of the distribution that reflects an investor's initial investment.

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%
Total Annual Fund Operating Expenses0.50%

Fund Performance (Total Return)

As of 05/31/2025 03/31/2025

Monthly Quarterly
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV -7.18% -12.09% — -7.54% — -19.70%
Market Price -5.37% -11.08% — -6.91% — -18.39%
Annualized 1 Year 3 Year Since Inception
NAV — — —
Market Price — — —
Cumulative 1 Year Since Inception
NAV — -11.88%
Market Price — -10.86%
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
15
56
Days Traded at Discount
0
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 06/06/2025

Holdings - All ETFs
Ticker Name Quantity Weight
- SWAPTION R 2.75%/SOFR 3/15/32 MS 25,000,000 -0.21%
- SWR300BOA 300,000,000 -0.34%
- SWR300NOM 175,000,000 -0.82%
- SWAPTION R 2.75%/SOFR 3/15/32 GS 725,000,000 -1.98%
- SWR300GSX 1,200,000,000 -4.88%
- SWR300MSX 700,000,000 -1.88%
T Bills UNITED STS TREAS BILLS 0.0 17JUN25 73,600,000 49.90%
T Bills UNITED STS TREAS BILLS 0.0 08JUL25 53,800,000 36.39%
T Bills UNITED STS TREAS BILLS 0.0 29JUL25 5,500,000 3.71%
T Bills UNITED STS TREAS BILLS 0.0 05AUG25 18,000,000 12.13%
T Bills UNITED STS TREAS BILLS 0.0 26AUG25 11,700,000 7.87%
- Estimated Cash 164,029 0.11%

Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date Record Date Payable Date Total Distribution
N/A
$0.15000
$0.15000
$0.15000
$0.10000
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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