Skip to content
etf.net

Launched

Simplify National Muni Bond ETF

NMBNYSE ArcaSimplifyD

$23.90+0.03 (+0.12%)

As of Nov 2, 2026, 3:37 PM ET

D33/ 100

Rank 60 of 63 in Other Municipal Bond

D33/100Rank 60 of 63inOther Municipal Bond
Intraday session: up, 75 prints from 23.87 to 23.90. Range 23.90 to 24.01. Use the arrow keys to read each point.23.9323.9523.9824.0010 AM12 PM2 PM4 PM
Expense ratio
0.53%
Fund size
$47M
1Y total return
−2.5%
Yield · Last 12 months
5.40%
Holdings
40
Avg volume · 30D
4.94K sh
52W range
low $22.66high $26.10
Launched

The ETF.net NMB Grade

D

Score 33 out of 100

Category
Other Municipal Bond⁠
Rank
60 of 63
Six-pillar profile for NMB. Scores out of 100: Cost 10, Risk 41, Mission 65, Tradability 29, Holdings 28, Durability 21. Strongest: Mission (65). Weakest: Cost (10). Leans toward Mission.

Score 33 of 100 falls in the D 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.
    F10 out of 100
    Rank 57 of 63

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    B65 out of 100
    Rank 52 of 59

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C41 out of 100
    Rank 47 of 63

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D29 out of 100
    Rank 52 of 63

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D28 out of 100
    Rank 60 of 63

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F21 out of 100
    Rank 56 of 63

Our read on NMB

ETF.net Research

In short

DMost national muni ETFs are cheap index trackers. NMB goes the other way: an actively managed muni portfolio run by credit specialists, with an options-selling sleeve stacked on top for extra income.

Stated mandate

The fund’s current stated objective is to maximize total return.

Why people hold it

  • Two income engines in one wrapper: tax-free muni coupons plus a risk-managed options-selling strategy that writes spreads across equity, bond and commodity indices and ETFs.simplify.us
  • Sub-advised by Foundation Credit, a specialist credit firm, hunting the fragmented muni market for bonds that passive index mandates leave behind.simplify.ussimplify.us 2
  • Holds mainly investment-grade municipals with no set duration limits, so the managers can roam the curve instead of matching an index's maturity profile.simplify.ussimplify.us 2

Worth knowing

  • Costs 0.52% a year against a 0.30% median for national muni funds. That is the price tag on active management plus the options overlay.
  • The options income and opportunistic trading gains are taxable, so the payout is not purely tax-exempt the way a plain index muni fund's is.simplify.us
  • A small, lightly traded fund launched in 2024, holding roughly 70 bonds, with distributions that have not followed a fixed calendar.

NMB Holdings

Holdings pillarD28 out of 100Rank 60 of 63 in Other Municipal Bond
Asset class
Bonds
Holdings
40
Top-10 weight
42%
Largest holding
Cash8.5%

Sectors

  • Municipal100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataCash8.52%4,015,229$4.02M104
2No dataHillsborough Cnty Fla I 5.5 15NOV544.33%2,000,000$2.04M4
3No dataAtlanta Ga Arpt Rev 5.25 01JUL564.32%2,000,000$2.04M2
4No dataMaryland St Transn Auth 5.0 01JUL534.26%2,000,000$2.01M1
5No dataJacksonville Fla Aviat 5.25 01OCT554.20%2,000,000$1.98M1
6No dataAldine Tex Indpt Sch 4.375 15FEB513.86%2,000,000$1.82M1
7No dataLee Cnty Fla Arpt Rev 5.5 01OCT513.23%1,500,000$1.52M1
8No dataMiami-Dade Cnty Fla Sea 5.5 01OCT563.23%1,500,000$1.52M3
9No dataAustin Tex Spl Tax Rev 5.25 15NOV563.22%1,500,000$1.52M2
10No dataJea Fla Elec Sys Rev 5.25 01OCT563.20%1,500,000$1.51M3
11No dataNew Jersey St Transn T 5.0 15JUN503.18%1,500,000$1.5M4
12No dataFlorida St Tpk Auth Tp 4.25 01JUL532.79%1,500,000$1.32M2
13No dataPennsylvania Economic D 4.5 15DEC512.78%1,500,000$1.31M2
14No dataAldine Tex Indpt Sch Di 4.0 15FEB542.78%1,540,000$1.31M5
15No dataNew York St Twy Auth 4.125 15MAR562.71%1,500,000$1.28M6

Showing 1–15 of 40 holdings

NMB Performance

Launched Sep 9, 2024

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.Not enough history yet.
NMB$9,754
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. NMB $9,754. 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 NMB. Periods over one year show the average yearly return.
PeriodNMB
Year to date−0.6%
1 month+3.6%
3 months−1.4%
1 year−2.5%
3 yearsFund is under 3 years oldper yearNo data
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 NMB
YearReturn barNMB
2026 YTD−0.6%
2025+8.0%
2024−1.9%

History from Sep 10, 2024

NMB in the news

NMB 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.
5.40%Last 12 months
Payout per share
$1.29Last 12 months
Last payment
$0.08 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2024–2026

One bar per payment. 16 payments from 2024 to 2026 YTD. Dec 23, 2024 $0.27; Mar 26, 2025 $0.26; Jun 25, 2025 $0.26; Sep 25, 2025 $0.30; Nov 21, 2025 $0.15; Dec 23, 2025 $0.15; Jan 27, 2026 $0.14; Feb 24, 2026 $0.13; Mar 26, 2026 $0.12; Apr 27, 2026 $0.12; May 26, 2026 $0.08; Jun 25, 2026 $0.08; Jul 28, 2026 $0.08; Aug 26, 2026 $0.08; Sep 25, 2026 $0.08; Oct 27, 2026 $0.08. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Oct 27, 2026Oct 30, 2026$0.08
Sep 25, 2026Sep 30, 2026$0.08
Aug 26, 2026Aug 31, 2026$0.08
Jul 28, 2026Jul 31, 2026$0.08
Jun 25, 2026Jun 30, 2026$0.08
May 26, 2026May 29, 2026$0.08
Apr 27, 2026Apr 30, 2026$0.12
Mar 26, 2026Mar 31, 2026$0.12
Feb 24, 2026Feb 27, 2026$0.13
Jan 27, 2026Jan 30, 2026$0.14
Dec 23, 2025Dec 31, 2025$0.15
Nov 21, 2025Nov 28, 2025$0.15

See all 16 payments⁠

$10,000 in NMB 1 year ago paid $500 in dividends.⁠

NMB Risk

Risk pillarC41 out of 100Rank 47 of 63 in Other Municipal Bond
How much the fund’s monthly returns vary, scaled to a year.
11.1%
Annualised · 25 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.
−0.13
vs 3-month T-bills · 25 months 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.
−13.7%
25 months · trough Apr 2025
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.
0.41
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.

NMB Cost

Compare NMB and VTEB

Overpaying vs VTEB, tied cheapest in Other Municipal Bond

$9,898

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

  • NMB 0.53%

    $10,536

  • VTEB 0.03% Tied cheapest

    $638

$10,000
30 years

Cost over time

  • NMB 0.53%
  • VTEB 0.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530NMB $10,536VTEB $638

Year by year

YearNMBVTEBOverpaying
10$953$55$898
20$3,658$216$3,442
30$10,536$638$9,898

Other funds in Other Municipal Bond

See others