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Launched · SEC filings

Simplify Hedged Equity ETF

HEQTNYSE ArcaSimplifyB

$34.10−0.09 (−0.26%)

At close: Nov 2, 2026, 4:00 PM ET

B61/ 100

Rank 23 of 52 in S&P 500 Option Income

B61/100Rank 23 of 52inS&P 500 Option Income
Intraday session: down, 79 prints from 34.19 to 34.10. Range 34.06 to 34.41. Use the arrow keys to read each point.34.3034.4010 AM12 PM2 PM4 PM
Expense ratio
0.48%
Fund size
$307M
1Y total return
+8.9%
Yield · Last 12 months
1.17%
Holdings
5
Avg volume · 30D
65.1K sh
52W range
low $30.72high $34.98
Launched
Filings
SEC EDGAR

The ETF.net HEQT Grade

Based on 5 of 6 pillars

B

Score 61 out of 100

Category
S&P 500 Option Income⁠
Rank
23 of 52
Six-pillar profile for HEQT. Scores out of 100: Cost 69, Risk 65, Mission not scored, Tradability 58, Holdings 37, Durability 57. Strongest: Cost (69). Weakest: Holdings (37). Based on 5 of 6 pillars.

Score 61 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B69 out of 100
    Rank 17 of 52

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B65 out of 100
    Rank 13 of 52

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B58 out of 100
    Rank 17 of 52

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D37 out of 100
    Rank 33 of 41

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B57 out of 100
    Rank 22 of 52

Our read on HEQT

ETF.net Research

In short

BMost S&P 500 options funds sell calls to pump out income. HEQT flips the priority: a put/spread collar aimed at softening drawdowns and volatility, with long-term appreciation as the stated goal. Distributions land quarterly.

Stated mandate

The fund seeks long-term capital appreciation through primarily U.S. large-cap equity exposure, while using a put/spread collar option overlay intended to reduce downside risk and volatility.

Why people hold it

  • Hedge-first, not yield-first: the option overlay exists to reduce downside risk and volatility rather than maximize payouts.simplify.us
  • Fee of 0.53% a year undercuts the median in its 51-fund S&P 500 options cohort, unusual for a strategy this hands-on.
  • Lands in the upper half of that crowded cohort, with risk control the strongest part of the build.
  • The reference point is the S&P 500 itself, so what sits under the options is familiar US large-cap equity.simplify.us

Worth knowing

  • A collar cuts both ways: the calls sold to help pay for the puts also trim participation in a strong rally.simplify.us
  • Cheaper options-on-the-S&P builds exist in the same lane, including IVVW at 0.25% and PBP at 0.29%, though neither runs this collar.
  • Trading is moderate rather than heavy, so spreads can run wider than the category's busiest names.

HEQT Performance

Launched Nov 1, 2021

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.
HEQT$10,894
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. HEQT $10,894. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for HEQT. Periods over one year show the average yearly return.
PeriodHEQT
Year to date+7.7%
1 month−0.4%
3 months+1.8%
1 year+8.9%
3 yearsper year+15.2%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for HEQT
YearReturn barHEQT
2026 YTD+7.7%
2025+10.1%
2024+18.3%
2023+16.6%
2022−8.2%
2021+2.1%

History from Nov 2, 2021

HEQT in the news

HEQT Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
1.17%Last 12 months
Payout per share
$0.40Last 12 months
Last payment
$0.10 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2021–2026

One bar per payment. 18 payments from 2021 to 2026 YTD. Dec 27, 2021 $0.07; Jun 27, 2022 $0.08; Dec 27, 2022 $0.81; Mar 27, 2023 $0.08; Jun 27, 2023 $0.08; Sep 27, 2023 $0.08; Dec 26, 2023 $0.80; Mar 25, 2024 $0.10; Jun 25, 2024 $0.10; Sep 25, 2024 $0.08; Dec 23, 2024 $0.10; Mar 26, 2025 $0.08; Jun 25, 2025 $0.10; Sep 25, 2025 $0.10; Dec 23, 2025 $0.10; Mar 26, 2026 $0.10; Jun 25, 2026 $0.10; Sep 25, 2026 $0.10. Use the arrow keys to read each point.202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 25, 2026Sep 30, 2026$0.10
Jun 25, 2026Jun 30, 2026$0.10
Mar 26, 2026Mar 31, 2026$0.10
Dec 23, 2025Dec 31, 2025$0.10
Sep 25, 2025Sep 30, 2025$0.10
Jun 25, 2025Jun 30, 2025$0.10
Mar 26, 2025Mar 31, 2025$0.08
Dec 23, 2024Dec 31, 2024$0.10
Sep 25, 2024Sep 30, 2024$0.08
Jun 25, 2024Jul 1, 2024$0.10
Mar 25, 2024Mar 28, 2024$0.10
Dec 26, 2023Dec 29, 2023$0.80

See all 18 payments⁠

$10,000 in HEQT 3 years ago paid $758 in dividends.⁠

HEQT Risk

Risk pillarB65 out of 100Rank 13 of 52 in S&P 500 Option Income
How much the fund’s monthly returns vary, scaled to a year.
6.9%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.46
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−11.9%
59 months · trough Dec 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.56
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

HEQT Cost

Compare HEQT and PEPS

Overpaying vs PEPS, cheapest in S&P 500 Option Income

$7,499

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • HEQT 0.48%

    $9,605

  • PEPS 0.10% Cheapest

    $2,106

$10,000
30 years

Cost over time

  • HEQT 0.48%
  • PEPS 0.10%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530HEQT $9,605PEPS $2,106

Year by year

YearHEQTPEPSOverpaying
10$865$183$682
20$3,328$717$2,611
30$9,605$2,106$7,499

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