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Launched

Simplify US Equity Income ETF

SPUCNYSE ArcaSimplifyB

$47.30−0.21 (−0.44%)

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

B60/ 100

Rank 27 of 52 in S&P 500 Option Income

B60/100Rank 27 of 52inS&P 500 Option Income
Intraday session: down, 79 prints from 47.51 to 47.30. Range 47.25 to 47.95. Use the arrow keys to read each point.47.4047.6047.7047.8047.9010 AM12 PM2 PM4 PM
Expense ratio
0.53%
Fund size
$260M
1Y total return
+7.7%
Yield · Last 12 months
15.35%
Holdings
4
Avg volume · 30D
70K sh
52W range
low $42.89high $51.36
Launched

The ETF.net SPUC Grade

B

Score 60 out of 100

Category
S&P 500 Option Income⁠
Rank
27 of 52
Six-pillar profile for SPUC. Scores out of 100: Cost 60, Risk 20, Mission 91, Tradability 62, Holdings 37, Durability 68. Strongest: Mission (91). Weakest: Risk (20). Leans toward Mission.

Score 60 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.
    B60 out of 100
    Rank 21 of 52

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A91 out of 100
    Rank 23 of 36

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F20 out of 100
    Rank 50 of 52

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B62 out of 100
    Rank 14 of 52

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D37 out of 100
    Rank 33 of 41

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B68 out of 100
    Rank 14 of 52

Our read on SPUC

ETF.net Research

In short

BMost covered-call funds trade away your upside for yield. SPUC pairs an S&P 500 core with a long-and-short call structure built to harvest premium while keeping more room to rally, at a cost below the option-income norm.

Stated mandate

SPUC seeks monthly, tax-efficient income with potential capital appreciation. Its total-return approach uses both long and short call options to pursue income while retaining more upside than conventional covered-call funds.

Why people hold it

  • Costs 0.53% a year, below the median for option-income index-overlay funds.
  • Sells calls and buys calls rather than just writing them, a spread designed to collect premium while retaining more upside than a conventional covered-call sleeve.simplify.us
  • The equity engine is a plain S&P 500 index fund, so the options work sits on top of broad market exposure instead of a stock-picking bet.
  • Sits in the upper tier of its option-income peer group, and what it holds lines up closely with the mandate its documents describe.

Worth knowing

  • The premium is income, not a cushion. Equity drawdowns pass through the S&P 500 core, since the overlay is built from calls rather than downside hedges.
  • The fund targets monthly income, but payouts have come on an irregular schedule and depend on what the options market pays, not a fixed dividend.
  • Smaller and only moderately traded next to the category's giants, so spreads and order timing carry more weight here.

SPUC Holdings

Holdings pillarD37 out of 100Rank 33 of 41 in S&P 500 Option Income
Asset class
Stocks
Holdings
4
Top-10 weight
100%
Largest holding
IVV99.7%

Sectors

  • Technology40.4%
  • Financials11.2%
  • Communication9.9%
  • Health Care9.3%
  • Consumer Discretionary8.7%
  • Industrials7.5%
  • Consumer Staples4.3%
  • Energy3.4%
  • Utilities1.9%
  • Real Estate1.7%
  • 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 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1IVVIshares Core S+p 500 Etf99.75%341,425$259M59
2No dataCash0.19%484,456$484K104
3No dataSPX US 11/20/26 C7740 Index0.06%35$158K2
4No dataSPXW US 11/30/26 C8100 Index0.01%80$26.4K1

Showing 1–4 of 4 holdings

SPUC 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.
SPUC$10,767
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. SPUC $10,767. 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 SPUC. Periods over one year show the average yearly return.
PeriodSPUC
Year to date+10.3%
1 month−0.8%
3 months+0.3%
1 year+7.7%
3 yearsper year+25.6%
5 yearsper year+11.4%
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 SPUC
YearReturn barSPUC
2026 YTD+10.3%
2025+23.0%
2024+25.4%
2023+27.5%
2022−24.7%
2021+33.8%
2020+9.5%

History from Sep 4, 2020

SPUC in the news

SPUC 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.
15.35%Last 12 months
Payout per share
$7.30Last 12 months
Last payment
$0.60 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2023–2026

One bar per payment. 19 payments from 2023 to 2026 YTD. Jun 27, 2023 $0.19; Sep 27, 2023 $0.10; Dec 26, 2023 $0.15; 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 $3.47; Mar 26, 2026 $0.10; Apr 27, 2026 $0.48; May 26, 2026 $0.49; Jun 25, 2026 $0.48; Jul 28, 2026 $0.48; Aug 26, 2026 $0.60; Sep 25, 2026 $0.60; Oct 27, 2026 $0.60. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Oct 27, 2026Oct 30, 2026$0.60
Sep 25, 2026Sep 30, 2026$0.60
Aug 26, 2026Aug 31, 2026$0.60
Jul 28, 2026Jul 31, 2026$0.48
Jun 25, 2026Jun 30, 2026$0.48
May 26, 2026May 29, 2026$0.49
Apr 27, 2026Apr 30, 2026$0.48
Mar 26, 2026Mar 31, 2026$0.10
Dec 23, 2025Dec 31, 2025$3.47
Sep 25, 2025Sep 30, 2025$0.10
Jun 25, 2025Jun 30, 2025$0.10
Mar 26, 2025Mar 31, 2025$0.08

See all 26 payments⁠

$10,000 in SPUC 5 years ago paid $2,629 in dividends.⁠

SPUC Risk

Risk pillarF20 out of 100Rank 50 of 52 in S&P 500 Option Income
How much the fund’s monthly returns vary, scaled to a year.
18.1%
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.
1.11
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.
−29.2%
Trough Oct 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.
1.23
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.

SPUC Cost

Compare SPUC and PEPS

Overpaying vs PEPS, cheapest in S&P 500 Option Income

$8,430

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

  • SPUC 0.53%

    $10,536

  • PEPS 0.10% Cheapest

    $2,106

$10,000
30 years

Cost over time

  • SPUC 0.53%
  • PEPS 0.10%
  • 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$12.5K051015202530SPUC $10,536PEPS $2,106

Year by year

YearSPUCPEPSOverpaying
10$953$183$770
20$3,658$717$2,941
30$10,536$2,106$8,430

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