Simplify US Equity PLUS Downside Convexity ETF
$42.27−0.01 (−0.01%)
- 0.53%
- $104M
- +10.8%
- 1.18%
- 0M sh
- $42.37
- low $35.72high $43.93
The ETF.net SPD Grade
B
Score 62 out of 100
- 3 of 13
Score 62 of 100 falls in the B 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.A74 out of 100Rank 4 of 13Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B62 out of 100Rank 5 of 13Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C40 out of 100Rank 11 of 13Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C40 out of 100Rank 4 of 6Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B65 out of 100Rank 6 of 13
Our read on SPD
BMost S&P 500 options funds sell options to collect premium. SPD runs the trade in reverse: US equity exposure plus a standing options overlay built to cushion deep market drops rather than harvest income.
The fund seeks long-term capital appreciation through primarily U.S. equity investments combined with a persistent downside-convexity options overlay intended to hedge market declines.
Why people hold it
- The hedge is always on, not bolted in after volatility spikes. The overlay is built to soften declines instead of selling premium, the rarer job in this crowd.simplify.us
- At 0.53% a year it undercuts the median fee among its S&P 500 options peers, notable for a fund carrying a live derivatives book.simplify.us
- Trading since 2020. Equity core benchmarked to the S&P 500, a compact book of roughly 40 positions, distributions on a quarterly schedule.
Worth knowing
- Convexity is not free. A persistent hedge overlay has an ongoing cost that the fund carries whether or not the market actually falls.simplify.us
- Shares trade lightly and assets are modest next to the cohort's giants, so spreads can be wider than the headline fee suggests.
- It lands in the lower half of its S&P 500 options peer group. The fee is competitive; the hedged build simply has more moving parts than a plain buy-write.
SPD Holdings
- Stocks
- 21
- 124%
- IVV
Sectors
- Technology40.9%
- Financials11.1%
- Communication9.7%
- Health Care9.1%
- Consumer Discretionary8.8%
- Industrials7.5%
- Consumer Staples4.3%
- Energy3.4%
- Utilities1.9%
- Real Estate1.6%
- Materials1.5%
Geography
- United States100.00%
SPD 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.
SPD$11,082
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 | SPD |
|---|---|
| Year to date | +8.7% |
| 1 month | +1.1% |
| 3 months | +1.5% |
| 1 year | +10.8% |
| 3 years | +18.2% |
| 5 years | +8.2% |
| 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 | SPD |
|---|---|---|
| 2026 YTD | +8.7% | |
| 2025 | +18.9% | |
| 2024 | +17.5% | |
| 2023 | +20.9% | |
| 2022 | −26.0% | |
| 2021 | +24.8% | |
| 2020 | +8.8% |
SPD in the news
SPD Dividends
- 1.18%
- $0.50
- $0.20 per share
- Quarterly
Distribution history
SPD Risk
- 14.1%
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.
- 0.93
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.
- −27.4%
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.
- 0.94
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SPD Cost
0.53%
SPD0.53%
- The middle half of Portfolio Hedging funds
- Median 0.63%
3 of the 11 Portfolio Hedging funds charge less.
Other funds in Portfolio Hedging
- BPFIXSimplify Interest Rate Hedge ETFExpense ratio 0.50%1 year return +41.1%
- BCAOSAlpha Architect Tail Risk ETFExpense ratio 0.63%1 year return +1.4%
- BRFIXSimplify Bond Bull ETFExpense ratio 0.50%1 year return −18.6%
- BATTREA Series Trust - Arin Tactical Tail Risk ETFExpense ratio 0.63%1 year return —
- BTAILCambria Tail Risk ETFExpense ratio 0.60%1 year return −16.4%