Choose an ETF AGGH - Simplify Aggregate Bond ETF BUCK - Simplify Treasury Option Income ETF CDX - Simplify High Yield PLUS Credit Hedge ETF CRDT - Simplify Opportunistic Income ETF CTA - Simplify Managed Futures Strategy ETF EQLS - Simplify Market Neutral Equity Long/Short ETF FIG - Simplify Macro Strategy ETF GAEM - Simplify Gamma Emerging Market Bond ETF HARD - Simplify Commodities Strategy No K-1 ETF HEQT - Simplify Hedged Equity ETF HIGH - Simplify Enhanced Income ETF IOPP - Simplify Tara India Opportunities ETF MAXI - Simplify Bitcoin Strategy PLUS Income ETF MTBA - Simplify MBS ETF NMB - Simplify National Muni Bond ETF NXTI - Simplify NEXT Intangible Core Index ETF NXTV - Simplify NEXT Intangible Value Index ETF PFIX - Simplify Interest Rate Hedge ETF PINK - Simplify Health Care ETF QIS - Simplify Multi-QIS Alternative ETF SCY - Simplify US Small Cap PLUS Income ETF SPBC - Simplify US Equity PLUS Bitcoin Strategy ETF SPD - Simplify US Equity PLUS Downside Convexity ETF SPQ - Simplify US Equity PLUS QIS ETF SPUC - Simplify US Equity PLUS Upside Convexity ETF SPYC - Simplify US Equity PLUS Convexity ETF SURI - Simplify Propel Opportunities ETF SVOL - Simplify Volatility Premium ETF TUA - Simplify Short Term Treasury Futures Strategy ETF TYA - Simplify Intermediate Term Treasury Futures Strategy ETF VCAR - Simplify Volt TSLA Revolution ETF WUSA - Simplify Wolfe US Equity 150/50 ETF YGLD - Simplify Gold Strategy PLUS Income ETF
CDX
Simplify High Yield PLUS Credit Hedge ETF as of 12/02/2024
NAV
$23.10
NAV Change
- $0.09 /0.39%
Price
$23.20
Price Change
- $0.04 /0.17% The Simplify High Yield PLUS Credit Hedge ETF (CDX) seeks to maximize current income by investing primarily in high-yield bonds while mitigating credit risk. The credit risk premium is an attractive return source that may provide significant income. But credit spreads can turn swiftly, wiping out years of gains quickly. CDX is designed to provide core high yield exposure, with its attractive income, while simultaneously deploying a host of compelling credit hedge techniques to alleviate the blowup risk. Credit hedging can be very expensive, so it is paramount to be flexible in our approach to hedging within the space. CDX will opportunistically invest, based on cost-to-payout ratios, in CDX calls, Quality-Junk factor-based hedges, and equity puts.
Documents
Fact Sheet 3Q24
Fund Review 3Q24
Prospectus
Semi-Annual Report
Summary Prospectus
SAI
Annual Shareholder Report
Credit Hedging Done Right: CDX Outperforms with DefenseRead Article CDX Fund Deep Dive
CDX Fund Deep Dive Live
Fund Overview
As of 12/02/2024
Ticker Symbol CDX Gross Expense Ratio 0.50% Net Expense Ratio 0.25% CUSIP 82889N830 Total Assets $122,451,471.30 Shares Outstanding 5,300,001 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. 10.37% 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. 4.53% 30-Day SEC Yield (Unsubsidized) as of 10/31/2024 4.31% Portfolio Duration 3.32 Options Available No Inception Date 02/14/2022 Premium/Discount (%) as of 12/02/2024 0.42% NAV Per Share as of 12/02/2024 $23.10 Market Price as of 12/02/2024 $23.20 30-Day Median Bid-Ask Spread 0.39% Bid/Ask $23.08/$23.20 Midpoint Price $23.14 Volume 24,599 NAV Symbol CDX.NV IOPV Symbol CDX.IV Shares Out. Symbol CDX.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
0.50%
Distribution and Service (12b-1) Fees
0.00%
Other Expenses
0.00%
Total Annual Fund Operating Expenses
0.50%
Fee Waiver1
(0.25)%
Total Annual Fund Operating Expenses After Fee Waiver
0.25%
1. The Fund’s adviser has contractually agreed, through at least October 31, 2025, to waive its management fees to 0.25% of the Fund’s average daily net assets.
Fund Performance
As of 10/31/202409/30/2024
MonthlyQuarterly
Cumulative
1 Month
3 Month
6 Month
YTD
1 Year
Since Inception
NAV
-1.61%
1.90%
6.73%
8.55%
15.01%
12.33%
Market Price
-2.16%
1.82%
5.73%
7.86%
14.18%
11.76%
Annualized
1 Year
3 Year
Since Inception
NAV
15.01%
—
4.38%
Market Price
14.18%
—
4.19%
Cumulative
1 Year
Since Inception
NAV
17.59%
14.17%
Market Price
17.99%
14.22%
Annualized
1 Year
3 Year
5 Year
Since Inception
NAV
17.59%
—
—
5.18%
Market Price
17.99%
—
—
5.20%
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
Historical Date filter Previous Year to DateJan 2022 - Mar 2022Apr 2022 - Jun 2022Jul 2022 - Sep 2022Oct 2022 - Dec 2022Jan 2023 - Mar 2023Apr 2023 - Jun 2023Jul 2023 - Sep 2023Oct 2023 - Dec 2023Jan 2024 - Mar 2024Apr 2024 - Jun 2024Jul 2024 - Sep 2024Oct 2024 - Dec 2024
Calendar Year 2023
3rd Quarter of 2024
Days Traded at Premium
125
44
Days Traded at Discount
125
20
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 12/02/2024
Holdings - All ETFs
Ticker
Name
Quantity
Weight
IVV
ISHARES CORE S+P 500 ETF
50,265
24.90%
SPXW US 12/05/24 P5600
SPXW Dec 2024 5600 Put
122
0.00%
SPXW US 12/09/24 P5620
SPXW Dec 2024 5620 Put
100
0.00%
-
05Y5BRAD3
5,600,000
-0.40%
-
HYGNOMTRS
609,450
39.64%
-
SPTRNOTRS
30,005,230
24.50%
-
SPTRNOTRS 00001
-2,301
-24.86%
-
HYGNOMTRS 00001
-48,286,724
-39.43%
HYGFFSTR
iShares iBoxx High Yield Bond ETF Total Return Swap
931,933
60.62%
TRS MSSIJNK1
Simplify Custom Junk Equity Index
-29,273
-26.08%
TRS MSSIQUA1
Simplify Custom Quality Equity Index
29,514
30.07%
T Bills
UNITED STS TREAS BILLS 0.0 10DEC24
3,000,000
2.45%
T Bills
UNITED STS TREAS BILLS 0.0 17DEC24
37,600,000
30.65%
T Bills
UNITED STS TREAS BILLS 0.0 14JAN25
51,000,000
41.43%
-
Estimated Cash
-72,884,507
-59.52%
Holdings are subject to change without notice.
Portfolio Holdings
Holdings are subject to change without notice.
As of 12/02/2024
Distribution History
Recent Distributions
Ex-Dividend Date
Record Date
Payable Date
Total Distribution
12/23/2024
12/23/2024
12/31/2024
N/A
11/25/2024
11/25/2024
11/29/2024
$0.25000
10/28/2024
10/28/2024
10/31/2024
$0.20000
09/25/2024
09/25/2024
09/30/2024
$0.20000
08/27/2024
08/27/2024
08/30/2024
$0.20000
Recent Distribution Disclosure
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 HistoryDISTRIBUTION CALENDARSupplemental Tax Information: S19(a) Notices
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as of 12/02/2024 
