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QIS

GradeDNew York Stock Exchange Arca

Simplify Multi-QIS Alternative ETF

Simplify · Inception 2023-07-10

$11.63+0.04 (+0.37%)

As of Sep 23, 2026, 10:43 AM EDT

History starts Jul 11, 2023.
Intraday session: up, 2 prints from 11.59 to 11.63. Range 11.59 to 11.63. Use the arrow keys to read each point.$11.59$11.60$11.61$11.6210 AM12 PM2 PM4 PM
Expense ratio
1.21%
Fund size
$40M
1Y return
−45.2%
Yield · Last 12 months
Data unavailable
Holdings
3518
Volume · 30D
0M sh
NAV per share
$10.32
52W range
low $9.14high $20.88

The ETF.net QIS Grade

D

27/ 100

Confidence Low

Six-pillar profile for QIS. Scores out of 100: Cost 38, Risk 7, Mission not scored, Tradability 12, Holdings not scored, Durability 69. Strongest: Durability (69). Weakest: Risk (7). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 27 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.
    DScore 38
    —

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 7
    —

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 12
    —

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 69
    —

Graded as of Aug 18, 2026 · Based on 4 of 6 pillars

Our read on QIS

ETF.net Research

DInvestment banks build quant 'risk premia' strategies for pensions and hedge funds. QIS packages a basket of those third-party strategies into an ETF, using total return swaps, aiming for returns that move independently of stocks and bonds.

Stated mandate

The fund seeks positive absolute returns and income by investing in a diversified portfolio of quantitative strategies intended to provide an uncorrelated positive source of returns.

Why people hold it

  1. 01Gets its exposure through total return swaps on third-party bank quant strategies spanning equities, interest rates, commodities and currencies.sec.govsimplify.us
  2. 02The mandate is absolute return and income from strategies meant to be uncorrelated with the rest of a portfolio, not to shadow an index.simplify.us
  3. 03Delivered in a plain 1940 Act ETF: daily liquidity, no lockups or capital calls, for a strategy set normally sold through institutional swap desks.sec.gov

Worth knowing

  1. 01At 1.21% a year it runs above the typical alternatives ETF, and cheaper peers exist: QALT at 0.80% and RNMN at 0.59%.
  2. 02Returns ride on swap counterparties and outside models, so the drivers are less visible than a stock fund's holdings list.sec.gov
  3. 03Launched in 2023, small and thinly traded next to the bigger alternatives funds, so the track record is short and execution costs can bite.

QIS Holdings

As of Aug 19, 2026, 3:00 AM
Asset class
Other
Holdings
3,518
Top-10 weight
335%
Largest holding
TRS CTA SOFR +100 03152760.3%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—TRS CTA SOFR +100 03152760.35%—$25M—
002—TRS SBAR SOFR +95 061527 BULLET59.23%—$25M—
003—TRS CTA SOFR +75 03152753.91%—$22M—
004—TRS CTA SOFR +100 03152753.91%—$22M—
005—B 12/3/26 Govt29.48%—$12M—
006—B 11/12/26 Govt26.31%—$11M—
007—TRS FOXY SOFR +100 03152715.17%—$6M—
008—B 12/31/26 Govt13.20%—$5M—
009—TRS FOXY SOFR +65 03152711.92%—$5M—
010—TRS FOXY SOFR +80 11132611.91%—$5M—
011—TRS XXV SOFR +80 11132611.39%—$5M—
012—TRS FOXY SOFR +65 1113268.39%—$3M—
013—TRS FOXY SOFR +95 1113268.39%—$3M—
014CTAPSIMPLIFY E US EQUITY PLUS MANAGED F6.99%—$3M2
015—TRS FOXY SOFR +100 0315276.71%—$3M—

Showing 1–15 of 21 holdings

QIS 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 QIS. Periods over one year show the average yearly return.
PeriodQIS
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.

QIS in the news

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

QIS 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.

QIS 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.
0.54
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.

QIS Cost

Expense Ratio
1.21%