SVOL

Simplify Volatility Premium ETF

Morningstar Rating^TM

Overall rating based on risk-adjusted returns among
1,298 funds in the Large Blend category as of 07/31/24.

as of 09/27/2024

NAV

$ 21.94

NAV Change

- $ 0.11 /0.50%

Price

$ 21.97

Price Change

- $ 0.12 /0.54%

The Simplify Volatility Premium ETF (SVOL) seeks to provide investment results, before fees and expenses, that correspond to approximately one-fifth to three-tenths (-0.2x to -0.3x) the inverse of the performance of the Cboe Volatility Index (VIX) short-term futures index while also seeking to mitigate extreme volatility.

We believe many traditional sources of income are failing to meet investor needs in today’s low yield environment. SVOL aims to provide an attractive income stream and source of diversification while seeking to avoid risks inherent in other income-producing asset classes.

The fund’s short VIX position provides investors an optimized exposure for monetizing the premium in the VIX futures market. A modest option overlay budget is then deployed into VIX call options to help protect against adverse moves in VIX.

SVOL Fund Deep Dive

SVOL Fund Deep Dive Live

Fund Overview

As of 09/27/2024

Ticker Symbol

SVOL

Gross Expense Ratio

1.16%

CUSIP

82889N863

Total Assets

$1,251,662,374.35

Shares Outstanding

57,050,001

Distribution Rate as of 08/31/2024 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.

16.08%

Distribution Frequency

Monthly

30-Day SEC Yield (Subsidized) as of 08/31/2024 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.

30-Day SEC Yield (Unsubsidized) as of 08/31/2024

3.74%

Options Available

Yes

Inception Date

05/12/2021

Premium/Discount (%) as of 09/27/2024

0.14%

NAV Per Share as of 09/27/2024

$21.94

Market Price as of 09/27/2024

$21.97

30-Day Median Bid-Ask Spread

0.05%

Bid/Ask

$21.94/$21.95

Midpoint Price

$21.95

Volume

810,478

NAV Symbol

SVOL.NV

IOPV Symbol

—

Shares Out. Symbol

SVOL.SO

Schedule K-1

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 Expenses¹	0.66%
Total Annual Fund Operating Expenses	1.16%

1. Amount of interest expense included in percentage.

Fund Performance

As of 07/31/2024 06/30/2024

Monthly Quarterly

Cumulative	1 Month	3 Month	6 Month	YTD	1 Year	Since Inception
NAV	0.50%	4.81%	6.55%	7.42%	14.13%	44.24%
Market Price	0.72%	4.86%	6.52%	7.50%	14.59%	43.53%

Annualized	1 Year	3 Year	Since Inception
NAV	14.13%	10.70%	12.05%
Market Price	14.59%	10.56%	11.89%

Cumulative	1 Year	Since Inception
NAV	15.05%	43.52%
Market Price	14.76%	42.51%

Annualized	1 Year	3 Year	5 Year	Since Inception
NAV	15.05%	9.93%	—	12.22%
Market Price	14.76%	9.83%	—	11.98%

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	3rd Quarter of 2024
Days Traded at Premium	223	49
Days Traded at Discount	27	15

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 09/27/2024

Ticker	Name	Quantity	Weight
AGGH	SIMPLIFY AGGREGATE BOND E	5,193,254	9.00%
BUCK	SIMPLIFY TRSY OPT ETF-USD	4,448,579	8.76%
CDX	SIMPLIFY HIGH YIELD PL CR	1,299,393	2.46%
MTBA	SIMPLIFY MBS ETF	1,075,137	4.43%
NMB	SIMPLIFY NATIONAL MUNI B	3,126,710	6.31%
TYA	SIMPLIFY INTERMEDIATE TER	3,843,182	4.45%
UXH5 IND	CBOE VIX FUTURE MAR25	-1,423	-2.19%
UXV4 IND	CBOE VIX FUTURE Oct24	-579	-0.89%
UXX4 IND	CBOE VIX FUTURE Nov24	-12,466	-18.45%
SPXW US 09/27/24 P4900	SPXW Sep 2024 4900 Put	150	—
SPXW US 09/27/24 P5100	SPXW Sep 2024 5100 Put	-150	0.00%
SPXW US 09/27/24 P5300	SPXW Sep 2024 5300 Put	150	0.00%
SPXW US 09/30/24 P4900	SPXW Oct 2024 4900 Put	150	0.00%
SPXW US 09/30/24 P5100	SPXW Oct 2024 5100 Put	-150	0.00%
SPXW US 09/30/24 P5300	SPXW Oct 2024 5300 Put	150	0.00%
SPXW US 10/02/24 P4900	SPXW Oct 2024 4900 Put	300	0.00%
SPXW US 10/03/24 P4950	SPXW Oct 2024 4950 Put	300	0.00%
SPXW US 10/03/24 P5400	SPXW Oct 2024 5400 Put	150	0.00%
SPXW US 10/04/24 P4900	SPXW Oct 2024 4900 Put	400	0.00%
US BOND FUTR OPTN Dec24C	US BOND FUTR OPTN Dec24C	-2,014	-0.23%
USX4C 134.0 Comdty	USX4C 134.0 Comdty	-1,000	0.00%
USX4P 120.0 Comdty	USX4P 120.0 Comdty	-3,000	-0.03%
VIX US 01/22/25 C50	VIX Jan 2025 50 Call	43,500	0.25%
VIX US 03/18/25 C50	VIX Mar 2025 50 Call	239	0.00%
VIX US 04/16/25 C50	VIX Apr 2025 50 Call	8,481	0.05%
VIX US 10/16/24 C50	VIX Oct 2024 50 Call	26,433	0.05%
-	US TREASURY N/ 2.875 6/25	100,000	0.01%
-	TREASURY BILL DN 10/24	163,000,000	13.00%
-	TREASURY BILL DN 10/24	141,500,000	11.28%
-	TREASURY BILL DN 10/24	332,500,000	26.46%
-	TREASURY BILL DN 10/24	145,900,000	11.61%
-	TREASURY BILL DN 11/24	180,000,000	14.31%
-	TREASURY BILL 0 11/24	600,000,000	47.67%
-	Estimated Net Cash	-748,858,095	-59.83%

Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date	Record Date	Payable Date	Total Distribution
09/25/2024	09/25/2024	09/30/2024	N/A
08/27/2024	08/27/2024	08/30/2024	$0.30000
07/26/2024	07/26/2024	07/31/2024	$0.30000
06/25/2024	06/25/2024	06/28/2024	$0.30000
05/24/2024	05/28/2024	05/31/2024	$0.30000

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. Section 19(a) notices are typically released after a Fund's dividend declaration date. As such, the reported distribution details below are subject to change without notice.

View Distribution History

DISTRIBUTION CALENDAR