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NMB

GradeDNew York Stock Exchange Arca

Simplify National Muni Bond ETF

Simplify · Inception 2024-09-09

$23.54−0.21 (−0.87%)

As of Sep 23, 2026, 2:17 PM EDT

History starts Sep 10, 2024.
Intraday session: down, 34 prints from 23.74 to 23.54. Range 23.36 to 23.75. Use the arrow keys to read each point.$23.40$23.60$23.7010 AM12 PM2 PM4 PM
Expense ratio
0.52%
Fund size
$49M
1Y return
+6.1%
Yield · Last 12 months
Data unavailable
Holdings
68
Volume · 30D
0M sh
NAV per share
$24.54
52W range
low $23.91high $26.14

The ETF.net NMB Grade

D

26/ 100

Confidence High

Six-pillar profile for NMB. Scores out of 100: Cost 9, Risk 24, Mission 52, Tradability 18, Holdings 25, Durability 25. Strongest: Mission (52). Weakest: Cost (9). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 26 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 9
    —

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    CScore 52
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 24
    —

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 18
    —

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 25
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 25
    —

Graded as of Aug 18, 2026

Our read on NMB

ETF.net Research

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

  1. 01Two 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
  2. 02Sub-advised by Foundation Credit, a specialist credit firm, hunting the fragmented muni market for bonds that passive index mandates leave behind.simplify.ussimplify.us
  3. 03Holds 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

Worth knowing

  1. 01Costs 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.
  2. 02The 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
  3. 03A small, lightly traded fund launched in 2024, holding roughly 70 bonds, with distributions that have not followed a fixed calendar.

NMB Holdings

As of Aug 19, 2026, 3:00 AM
Asset class
Bonds
Holdings
68
Top-10 weight
44%
Largest holding
Cash11.6%

Sectors

  • Materials100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Cash11.60%—$6M—
002—HILLSBOROUGH CNTY FLA I 5.5 15NOV544.34%—$2M—
003—SALT RIV PROJ AGRIC IM 5.25 01JAN554.29%—$2M—
004—JACKSONVILLE FLA AVIAT 5.25 01OCT554.16%—$2M—
005—ALDINE TEX INDPT SCH 4.375 15FEB513.92%—$2M—
006—MIDLOTHIAN TEX INDPT 4.375 15FEB563.33%—$2M—
007—LEE CNTY FLA ARPT REV 5.5 01OCT513.22%—$2M—
008—JEA FLA ELEC SYS REV 5.25 01OCT563.20%—$2M—
009—MIAMI-DADE CNTY FLA SEA 5.5 01OCT563.18%—$2M—
010—AUSTIN TEX SPL TAX REV 5.25 15NOV563.17%—$2M—
011—AUSTIN TEX ARPT SYS RE 5.25 15NOV513.16%—$2M—
012—NEW JERSEY ST TRANSN T 5.0 15JUN503.15%—$2M—
013—NEW YORK ST TWY AUTH GE 5.0 01JAN563.13%—$2M—
014—GEORGETOWN TEX UTIL SYS 5.0 15AUG563.13%—$2M—
015—WASHINGTON ST 5.0 01AUG502.86%—$1M—

Showing 1–15 of 30 holdings

NMB Performance

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

Performance data is unavailable.

Returns run to the last market 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 dateHistory unavailable—
1 monthHistory unavailable—
3 monthsHistory unavailable—
1 yearHistory unavailable—
3 yearsHistory unavailable—per year
5 yearsHistory unavailable—per year
10 yearsHistory unavailable—per year

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 return data is unavailable.

NMB in the news

ETF.net Research hasn’t filed on NMB yet — coverage lands here as it’s written.

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 unavailableLast 12 months
Payout per share
Data unavailableLast 12 months

Distribution data unavailable.

NMB Risk

How much the fund’s monthly returns vary, scaled to a year.
—
No data available
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.
—
No data available
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.
—
No data available
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.

NMB Cost

Expense Ratio
0.52%