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CRDT

Simplify Opportunistic Income ETF

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as of 06/21/2024

NAV

$ 24.94

NAV Change

- $ 0.02 /0.08%

Price

$ 25.03

Price Change

+ $ 0.04 /0.16%
The Simplify Opportunistic Income ETF (CRDT) seeks to provide current income, with long-term capital appreciation as a secondary objective.

CRDT is an actively managed, opportunistic credit strategy focused on security selection within high-yield, investment grade, and distressed debt. By deploying a multi-step investment process that combines macroeconomic, quantitative, and fundamental research, the fund seeks to generate alpha that diversifies the traditional investment portfolio.

The strategy is sub-advised by Asterozoa Capital, an alternatives manager focused on opportunistic investing across the capital structure while minimizing risks/correlations through portfolio construction and hedging.
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Documents

CRDT Fund Deep Dive Live

Fund Overview

As of 06/21/2024

Ticker Symbol
CRDT
Gross Expense Ratio
0.95%
Net Expense Ratio
0.50%
CUSIP
82889N558
Total Assets
$74,809,840.60
Shares Outstanding
3,000,001
Distribution Yield as of 05/31/2024 Distribution yield 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 yield.
Distribution Yield Close
Distribution yield 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 yield.
7.30%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 05/31/2024 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.
7.38%
30-Day SEC Yield (Unsubsidized) as of 05/31/2024
6.92%
Portfolio Duration
3.85
Options Available
No
Inception Date
06/26/2023
Premium/Discount (%) as of 06/21/2024
0.37%
NAV Per Share as of 06/21/2024
$24.94
Market Price as of 06/21/2024
$25.03
30-Day Median Bid-Ask Spread
0.12%
Bid/Ask
$25.03/$25.04
Midpoint Price
$25.04
Volume
7,884
NAV Symbol
CRDT.NV
IOPV Symbol
CRDT.IV
Shares Out. Symbol
CRDT.SO
Schedule K-1
No

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 0.95%
Distribution and Service (12b-1) Fees 0.00%
Other Expenses1 0.00%
Total Annual Fund Operating Expenses 0.95%
Fee Waiver2 (0.45)%
Total Annual Fund Operating Expenses After Fee Waiver 0.50%
1. Other Expenses are estimated for the Fund’s initial fiscal year.

2. The adviser has contractually agreed to waive its fee payable under the management agreement by 0.45% through at least October 31, 2024.

Fund Performance

As of 05/31/2024 12/31/2023

Monthly Quarterly
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV -0.12% -1.59% 1.06% -0.92% — 4.28%
Market Price 0.57% -1.72% 1.46% -0.76% — 4.36%
Annualized 1 Year 3 Year Since Inception
NAV — — —
Market Price — — —
Cumulative 1 Year Since Inception
NAV — 4.97%
Market Price — 4.86%
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 2023 1st Quarter of 2024
Days Traded at Premium
107
56
Days Traded at Discount
23
5
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 06/21/2024

Holdings - All ETFs
Ticker Name Quantity Weight
ADMSO ADMSO 2023-1 B 500000 0.69%
ANCHC ANCHC 2021-19A E 1000000 1.35%
ARES ARES 2019-54A E 1000000 1.37%
ARI ARI 4 5/8 06/15/29 400000 0.45%
AVID AVID 2023-1 A 642813 0.12%
AZUBBZ AZUBBZ 11.93 08/28/28 1000000 1.32%
CCO CCO 7 3/4 04/15/28 500000 0.60%
CRWD CROWDSTRIKE HOLDINGS INC 3 2/15/2029 500000 0.61%
CVNA CARVANA CO 5.625 10/1/2025 1500000 1.98%
DANBNK DANSKE BANK A/S 6.466 1/9/2026 1000000 1.38%
DANBNK DANSKE BANK A/S 7 PERPETL 12/26/2171 350000 0.48%
DB DB 7 1/2 PERP 400000 0.53%
EGYPT EGYPT 7.903 02/21/48 750000 0.75%
EPD EPD 5 3/8 02/15/78 550000 0.71%
F F 4.134 08/04/25 1000000 1.33%
FBC FBC 4 1/8 11/01/30 1000000 1.15%
FCAT FCAT 2021-4 A 167914 0.01%
FIGRE FIGRE 2024-HE2 A FRN 5/25/2054 1000000 1.36%
FNCL FANNIE MAE POOL 3.5 25JUL42 TBA 11900000 14.26%
FNCL FANNIE MAE POOL 6.0 25JUL41 TBA 3000000 4.05%
FRCB FIRST REPUBLIC BANK 4.625 2/13/2047 1500000 0.11%
FYBR FYBR 8 5/8 03/15/31 200000 0.28%
FYBR FYBR 2023-1 B 8.3 8/20/2053 300000 0.41%
FYBR FYBR 2023-1 C 11.5 8/20/2053 300000 0.41%
GBLATL GLOBAL ATLANTIC FIN CO 7.95 10/15/2054 1000000 1.34%
GRUB GRUBHUB HOLDINGS INC 5.5 07/01/2027 700000 0.87%
HERTZ HERTZ 2022-4A D 1000000 1.31%
ISRELE ISRELE 5 11/12/24 1000000 1.34%
JACK JACK 2022-1A A2I 955000 1.14%
KSTAT KSTAT 2022-1A E 1000000 1.36%
LIBMUT LIBERTY MUTUAL GROUP INC 4.125 12/15/2051 1500000 1.87%
LOGM LOGM 5 1/2 05/01/28 161700 0.18%
LOGM LOGM 5 1/2 05/01/28 223300 0.13%
LUMN CTL 7.6 09/15/39 1550000 0.69%
MBONO MBONO 8 09/05/24 40300000 3.02%
MBONO MBONO 10 12/05/24 14000000 1.03%
MCBRAC MCBRAC 7 1/4 06/30/31 404069 0.48%
NAVSL NAVSL 2021-BA R 2222 1.34%
NRG NRG 10 1/4 PERP 767000 1.15%
OCTL OCTL 2022-1A R1 12121 2.67%
OPI OPI 9 03/31/29 850000 1.08%
PMT PMT 8 1/2 06/01/29 1000000 1.31%
QVCN QVC Inc. (USD) 600000 0.59%
RITM RITM 6 1/4 10/15/25 173000 0.23%
RITM RITM 8 04/01/29 1000000 1.33%
SANUK SANUK 6.833 11/21/26 1000000 1.36%
SBNY SIGNATURE BK NEW YORK N 4.0 15OCT30 750000 0.53%
SFRFP YPSO FINANCE BIS 10.5 5/15/2027 2000000 1.07%
SIERRA SIERRA 6 06/15/28 1000000 1.20%
SPLLLC CQP 5 5/8 03/01/25 600000 0.82%
STWD STWD 7 1/4 04/01/29 1000000 1.38%
TEN TEN 8 11/17/28 1000000 1.26%
UFS UFS 6 3/4 10/01/28 600000 0.74%
UNIT UNIT 10 1/2 02/15/28 650000 0.89%
UNIT UNIT 4 3/4 04/15/28 800000 0.90%
VAL VALARIS LTD 8.375 4/30/2030 750000 1.05%
VERI VERI 1 3/4 11/15/26 1444000 0.71%
AGNC AGNC Investment Corp 180000 2.35%
ARR ARMOUR RES 15000 0.39%
CEE CENT EUROP COM USD0.001 40423 0.55%
NLY ANNALY CAP MGMT INC 93200 2.49%
RITM NEW RESIDE COM NPV (POST REV SPLIT) 35800 0.53%
- WEWORK INC 20956 0.56%
LUMN LUMEN TECHNOLOGIES INC LA USD 1.0 500000 0.72%
QRTEA QURATE RETAIL INC NPV 250000 0.22%
FVU4 COM US 5YR NOTE (CBT) SEP24 110 0.13%
TUU4 COM US 2YR NOTE (CBT) SEP24 510 0.19%
USU4 COM US LONG BOND(CBT) SEP24 -89 -0.05%
WNU4 COM US ULTRA BOND CBT Sep24 -6 -0.01%
- 4AB951AF2 22500000 -0.31%
- 05Y5BRAB2 25000000 -2.13%
- MORGAN STANLEY CUSTOM QUALITY INDEX 6813 10.06%
- MORGAN STANLEY CUSTOM JUNK INDEX -5694 -7.03%
T Bills B 06/25/24 12100000 16.17%
T Bills B 07/05/24 6000000 8.01%
T Bills B 09/19/24 3200000 4.22%
- DIAMOND SPORTS 12/02/24 TERM LOAN 139459 0.26%
AGNC AGNC 10.6806 PERP Pfd 23400 0.81%
CIM CIM 8 PERP 24800 0.82%
FBRT FBRT 7 1/2 PERP 11300 0.33%
FMCC FEDERAL HOME LN MTG CORP 5.66 PFD 37500 0.19%
FNMA FEDERAL NATL MTG ASSN 8.25 PFD 25000 0.16%
NLY NLY 10.5309 PERP Pfd 24500 0.83%
QRTEA QRTEA 8 Pfd 18600 1.07%
RITM RITM 6 3/8 PERP Pfd 47696 1.51%
RITM RITM 7 PERP 45564 1.44%
SICP SI 5 3/8 PERP 10000 0.17%
- Estimated Cash -10261740 -13.72%

Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date Record Date Payable Date Ordinary Income Short Term Capital Gains Long Term Capital Gains Return of Capital Total Distribution
$0.15000 $0.00000 $0.00000 $0.00000 $0.15000
$0.15000 $0.00000 $0.00000 $0.00000 $0.15000
$0.15000 $0.00000 $0.00000 $0.00000 $0.15000
$0.15000 $0.00000 $0.00000 $0.00000 $0.15000
$0.15000 $0.00000 $0.00000 $0.00000 $0.15000
View Distribution History

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