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Launched

Simplify US Equity PLUS Downside Convexity ETF

SPDNYSE ArcaSimplifyB

$40.51−0.26 (−0.64%)

At close: Nov 2, 2026, 4:00 PM ET

B67/ 100

Rank 1 of 13 in Portfolio Hedging

B67/100Rank 1 of 13inPortfolio Hedging
Intraday session: down, 77 prints from 40.77 to 40.51. Range 40.51 to 41.20. Use the arrow keys to read each point.40.6041.0041.2010 AM12 PM2 PM4 PM
Expense ratio
0.53%
Fund size
$78M
1Y total return
+2.5%
Yield · Last 12 months
1.23%
Holdings
22
Avg volume · 30D
14K sh
52W range
low $35.72high $43.93
Launched

The ETF.net SPD Grade

Based on 5 of 6 pillars

B

Score 67 out of 100

Category
Portfolio Hedging⁠
Rank
1 of 13
Six-pillar profile for SPD. Scores out of 100: Cost 78, Risk 62, Mission not scored, Tradability 53, Holdings 37, Durability 62. Strongest: Cost (78). Weakest: Holdings (37). Based on 5 of 6 pillars.

Score 67 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.
    A78 out of 100
    Rank 3 of 13

  • 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.
    B62 out of 100
    Rank 5 of 13

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C53 out of 100
    Rank 7 of 13

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D37 out of 100
    Rank 4 of 6

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B62 out of 100
    Rank 7 of 13

Our read on SPD

ETF.net Research

In short

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.

Stated mandate

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

Holdings pillarD37 out of 100Rank 4 of 6 in Portfolio Hedging
Asset class
Stocks
Holdings
22
Top-10 weight
133%
Largest holding
IVV91.6%

Sectors

  • Technology38.8%
  • Financials11.8%
  • Health Care9.8%
  • Communication9.2%
  • Consumer Discretionary9.0%
  • Industrials7.4%
  • Consumer Staples4.7%
  • Energy3.8%
  • Utilities2.0%
  • Real Estate1.8%
  • Materials1.6%

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
1IVVIshares Core S+p 500 Etf91.57%98,794$75M59
2No dataTrs Sbar 05142718.87%620,141$15.5M4
3No dataTrs Sbar 06152712.68%416,930$10.4M4
4No dataS&P500 Emini Fut DEC264.18%9$3.43M7
5No dataB 1/28/27 Govt2.41%1,990,000$1.97M32
6No dataSPXW US 01/15/27 P6550 Index1.04%209$852K2
7No dataCash0.76%624,061$624K104
8No dataB 12/3/26 Govt0.66%540,000$538K36
9No dataSPXW US 11/20/26 P7050 Index0.36%131$295K2
10No dataSPXW US 11/20/26 P6525 Index0.22%212$180K2
11No dataSPXW US 12/18/26 C8100 Index0.04%26$36.3K4
12No dataSPXW US 01/15/27 C8150 Index0.04%12$35.8K4
13No dataSPXW US 12/18/26 C8075 Index0.03%14$22.7K4
14No dataSPXW US 12/18/26 C8275 Index0.01%24$12K4
15No dataSPXW US 12/18/26 C8250 Index0.01%21$12K4

Showing 1–15 of 22 holdings

SPD Performance

Launched Sep 3, 2020

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$10,254
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. SPD $10,254. SPY $11,199. Use the arrow keys to read each point.$9,000$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 SPD. Periods over one year show the average yearly return.
PeriodSPD
Year to date+4.9%
1 month−1.8%
3 months−0.5%
1 year+2.5%
3 yearsper year+18.2%
5 yearsper year+6.5%
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 SPD
YearReturn barSPD
2026 YTD+4.9%
2025+18.9%
2024+17.5%
2023+20.9%
2022−26.0%
2021+24.8%
2020+8.8%

History from Sep 4, 2020

SPD in the news

SPD 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.
1.23%Last 12 months
Payout per share
$0.50Last 12 months
Last payment
$0.20 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2020–2026

One bar per payment. 22 payments from 2020 to 2026 YTD. Dec 14, 2020 $0.12; Jun 28, 2021 $0.12; Sep 27, 2021 $0.07; Dec 27, 2021 $0.10; Mar 28, 2022 $0.04; Jun 27, 2022 $0.16; Dec 27, 2022 $0.20; Mar 27, 2023 $0.08; Jun 27, 2023 $0.21; Sep 27, 2023 $0.10; Dec 26, 2023 $0.16; Mar 25, 2024 $0.10; Jun 25, 2024 $0.10; Sep 25, 2024 $0.08; Dec 23, 2024 $0.10; Mar 26, 2025 $0.08; Jun 25, 2025 $0.10; Sep 25, 2025 $0.10; Dec 23, 2025 $0.10; Mar 26, 2026 $0.10; Jun 25, 2026 $0.10; Sep 25, 2026 $0.20. Use the arrow keys to read each point.2020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 25, 2026Sep 30, 2026$0.20
Jun 25, 2026Jun 30, 2026$0.10
Mar 26, 2026Mar 31, 2026$0.10
Dec 23, 2025Dec 31, 2025$0.10
Sep 25, 2025Sep 30, 2025$0.10
Jun 25, 2025Jun 30, 2025$0.10
Mar 26, 2025Mar 31, 2025$0.08
Dec 23, 2024Dec 31, 2024$0.10
Sep 25, 2024Sep 30, 2024$0.08
Jun 25, 2024Jun 28, 2024$0.10
Mar 25, 2024Mar 28, 2024$0.10
Dec 26, 2023Dec 29, 2023$0.16

See all 22 payments⁠

$10,000 in SPD 5 years ago paid $675 in dividends.⁠

SPD Risk

Risk pillarB62 out of 100Rank 5 of 13 in Portfolio Hedging
How much the fund’s monthly returns vary, scaled to a year.
14.1%
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.
0.95
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.
−27.4%
Trough Dec 2022
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.
0.94
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.

SPD Cost

Compare SPD and RFIX

Overpaying vs RFIX, cheapest in Portfolio Hedging

$557

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

  • SPD 0.53%

    $10,536

  • RFIX 0.50% Cheapest

    $9,979

$10,000
30 years

Cost over time

  • SPD 0.53%
  • RFIX 0.50%
  • 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$12.5K051015202530SPD $10,536RFIX $9,979

Year by year

YearSPDRFIXOverpaying
10$953$900$53
20$3,658$3,460$198
30$10,536$9,979$557

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