Skip to content
etf.net

Launched

Simplify Multi-QIS Alternative ETF

QISNYSE ArcaSimplifyD

$9.030.00 (0.00%)

As of Nov 10, 2026, 9:46 AM ET

D34/ 100

Rank 24 of 30 in Alternative Strategies

D34/100Rank 24 of 30inAlternative Strategies
Intraday session: flat, 1 prints from 9.03 to 9.03. Range 9.03 to 9.03. Use the arrow keys to read each point.8.509.5010.0010 AM12 PM2 PM4 PM
Expense ratio
1.13%
Fund size
$42M
1Y total return
−49.5%
Yield · Last 12 months
6.64%
Holdings
20
Avg volume · 30D
9.23K sh
52W range
low $9.14high $19.45
Launched

The ETF.net QIS Grade

Based on 4 of 6 pillars

D

Score 34 out of 100

Category
Alternative Strategies⁠
Rank
24 of 30
Six-pillar profile for QIS. Scores out of 100: Cost 52, Risk 1, Mission not scored, Tradability 23, Holdings not scored, Durability 61. Strongest: Durability (61). Weakest: Risk (1). Based on 4 of 6 pillars.

Score 34 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.
    C52 out of 100
    Rank 15 of 30

  • 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.
    F1 out of 100
    Rank 30 of 30

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F23 out of 100
    Rank 27 of 30

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B61 out of 100
    Rank 10 of 30

Our read on QIS

ETF.net Research

In short

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

  • Gets its exposure through total return swaps on third-party bank quant strategies spanning equities, interest rates, commodities and currencies.sec.govsimplify.us
  • The 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
  • Delivered 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

  • At 1.21% a year it runs above the typical alternatives ETF, and cheaper peers exist: QALT at 0.80% and RNMN at 0.59%.
  • Returns ride on swap counterparties and outside models, so the drivers are less visible than a stock fund's holdings list.sec.gov
  • Launched 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

Asset class
Other
Holdings
20
Top-10 weight
334%
Largest holding
Trs Cta 03152757.0%

Sectors

  • Technology38.7%
  • Financials11.8%
  • Health Care9.9%
  • Communication9.1%
  • Consumer Discretionary9.0%
  • Industrials7.4%
  • Consumer Staples4.8%
  • Energy3.8%
  • Utilities2.0%
  • Real Estate1.8%
  • Materials1.5%

Geography

  • United States99.55%
  • Switzerland0.26%
  • China0.09%
  • Mexico0.04%
  • Ireland0.03%
  • United Kingdom0.03%
The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataTrs Cta 03152757.02%895,491$24M1
2No dataTrs Sbar 061527 Bullet55.95%950,000$23.5M1
3No dataTrs Cta 03152750.94%800,000$21.4M1
4No dataTrs Cta 03152750.94%800,000$21.4M1
5No dataB 3/11/27 Govt32.26%13,750,000$13.6M27
6No dataB 2/16/27 Govt27.52%11,700,000$11.6M30
7No dataB 12/3/26 Govt20.52%8,650,000$8.63M31
8No dataTrs Foxy 03152714.36%226,000$6.04M1
9No dataB 12/31/26 Govt12.89%5,450,000$5.42M33
10No dataTrs Foxy 03152711.29%177,600$4.75M1
11No dataTrs Foxy 11132611.29%177,557$4.74M1
12No dataB 1/28/27 Govt10.02%4,250,000$4.21M31
13No dataTrs Xxv 1113269.32%198,306$3.92M1
14No dataTrs Foxy 1113267.94%125,000$3.34M1
15No dataTrs Foxy 1113267.94%125,000$3.34M1

Showing 1–15 of 20 holdings

QIS Performance

Launched Jul 10, 2023

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.
QIS$5,050
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. QIS $5,050. SPY $11,339. Use the arrow keys to read each point.$5,000$7,500$10,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 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 QIS. Periods over one year show the average yearly return.
PeriodQIS
Year to date−35.8%
1 month−18.8%
3 months−1.0%
1 year−49.5%
3 yearsper year−26.4%
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 QIS
YearReturn barQIS
2026 YTD−35.8%
2025−38.0%
2024+0.2%
2023+2.0%

History from Jul 11, 2023

QIS in the news

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 through Nov 9, 2026.
6.64%Last 12 months
Payout per share
$0.60Last 12 months
Last payment
$0.50 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Twice a year

Distribution history

2023–2026

One bar per payment. 9 payments from 2023 to 2026 YTD. Dec 26, 2023 $0.81; Jun 25, 2024 $0.10; Sep 25, 2024 $0.15; Dec 23, 2024 $0.01; Mar 26, 2025 $0.30; Jun 25, 2025 $0.10; Sep 25, 2025 $0.10; Jun 25, 2026 $0.10; Sep 25, 2026 $0.50. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Sep 25, 2026Sep 30, 2026$0.50
Jun 25, 2026Jun 30, 2026$0.10
Sep 25, 2025Sep 30, 2025$0.10
Jun 25, 2025Jun 30, 2025$0.10
Mar 26, 2025Mar 31, 2025$0.30
Dec 23, 2024Dec 31, 2024$0.01
Sep 25, 2024Sep 30, 2024$0.15
Jun 25, 2024Jun 28, 2024$0.10
Dec 26, 2023Dec 29, 2023$0.81

$10,000 in QIS 3 years ago paid $857 in dividends.

QIS Risk

Risk pillarF1 out of 100Rank 30 of 30 in Alternative Strategies
How much the fund’s monthly returns vary, scaled to a year.
21.5%
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.
−1.18
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.
−63.5%
39 months · trough Aug 2026
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.
0.52
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.

QIS Cost

Compare QIS and HBDC

Overpaying vs HBDC, cheapest in Alternative Strategies

$12,866

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

  • QIS 1.13%

    $20,764

  • HBDC 0.39% Cheapest

    $7,898

$10,000
30 years

Cost over time

  • QIS 1.13%
  • HBDC 0.39%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530QIS $20,764HBDC $7,898

Year by year

YearQISHBDCOverpaying
10$1,981$705$1,276
20$7,403$2,725$4,678
30$20,764$7,898$12,866

Other funds in Alternative Strategies

See others