Simplify Enhanced Income ETF
$21.10−0.05 (−0.25%)
- 0.50%
- $58M
- −1.5%
- 6.43%
- 0M sh
- $21.26
- low $20.96high $23.88
The ETF.net HIGH Grade
C
Score 50 out of 100
- 9 of 16
Score 50 of 100 falls in the C 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.B63 out of 100Rank 6 of 16Mission
Whether the fund did what it promised, tested against its stated mandate.C48 out of 100Rank 8 of 8Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C41 out of 100Rank 9 of 13Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C46 out of 100Rank 9 of 16Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D29 out of 100Rank 15 of 15Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B67 out of 100Rank 4 of 16
Our read on HIGH
CMost income ETFs sell calls on stocks they own. HIGH instead runs an algorithm that sells short-dated put and call spreads across equity and bond instruments, aiming for monthly income at roughly half the typical cost in its peer group.
HIGH seeks monthly income by actively selling short-dated put and call spreads across equity and fixed-income instruments, potentially including indices, ETFs, and individual securities. Its algorithm seeks risk-adjusted returns while managing option-selling tail risk.
Why people hold it
- 0.50% a year, about half the typical options-income fund's fee and below higher-rated peers like DIVO.
- Spreads, not naked options. Each short put or call is paired with a long leg, so the loss on a single trade is bounded. Managing option-selling tail risk is written into the mandate.simplify.us
- Pays monthly, and the strategy reaches across both equity and fixed-income instruments rather than one index sleeve.
- Sits in the upper half of a crowded 50-plus fund options-income group on our review.
Worth knowing
- Trades lightly next to the category's biggest names, so bid-ask spreads can be wider and order size matters more.
- Fully active with no index to check it against. Outcomes ride on the manager's option selection, and payouts move with the premiums the market offers.
- A compact book (about 40 positions, largely options and collateral) launched in 2022, so it behaves less like a stock basket and has a shorter record than older peers.
HIGH Holdings
- Stocks
- 18
- 163%
- SBIL
Sectors
- Financials100.0%
Geography
- United States100.00%
HIGH Performance
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.
HIGH$9,855
Returns run to the Oct 12, 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.
| Period | HIGH |
|---|---|
| Year to date | −1.0% |
| 1 month | −0.6% |
| 3 months | −0.9% |
| 1 year | −1.5% |
| 3 years | +1.9% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | HIGH |
|---|---|---|
| 2026 YTD | −1.0% | |
| 2025 | +4.3% | |
| 2024 | +1.5% | |
| 2023 | +7.7% | |
| 2022 | +0.3% |
HIGH in the news
HIGH Dividends
- 6.43%
- $1.36
- $0.10 per share
- Monthly
Distribution history
HIGH Risk
- 7.0%
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.
- −0.33
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.
- −9.5%
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.
- −0.01
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
HIGH Cost
0.50%
HIGH0.50%
- The middle half of S&P 500 Active Option Income funds
- Median 0.55%
5 of the 15 S&P 500 Active Option Income funds charge less.
Other funds in S&P 500 Active Option Income
- BHELOJPMorgan Hedged Equity Laddered Overlay ETFExpense ratio 0.50%1 year return +9.5%
- CJUDOJanus Detroit Street Trust - Janus Henderson U.S. Equity Enhanced Income ETFExpense ratio 0.55%1 year return —
- CEGGYNestYield Dynamic Income ETFExpense ratio 0.95%1 year return +14.1%
- CUPSDETF Series Solutions - Aptus Large Cap Upside ETFExpense ratio 0.79%1 year return +20.5%
- DACEIInnovator Equity Autocallable Income Strategy ETFExpense ratio 0.79%1 year return +8.8%