Simplify Target 15 Distribution ETF
$24.10−0.03 (−0.12%)
- 0.75%
- $105M
- +10.3%
- 20.30%
- 0.1M sh
- $24.12
- low $23.40high $27.47
The ETF.net XV Grade
C
Score 43 out of 100
- 14 of 24
Score 43 of 100 falls in the C 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.D30 out of 100Rank 15 of 24Mission
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.B55 out of 100Rank 12 of 24Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C51 out of 100Rank 10 of 24Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C47 out of 100Rank 10 of 16Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B64 out of 100Rank 12 of 24
Our read on XV
CMost income ETFs pay out whatever their options happen to earn. XV flips the order: the 15% annualized target comes first, and the barriers on its ladder of put options are set to support it. Monthly payouts, risk line drawn in advance.
XV seeks to generate a 15% annualized distribution paid monthly by selling a laddered portfolio of barrier put options. Barrier levels are adjusted to support the target, while losses may occur after a barrier is breached.
Why people hold it
- The payout rate is the input, not the leftover. Barrier levels on a laddered book of put options are adjusted to support a 15% annualized distribution, paid monthly.simplify.us
- Barrier puts draw the risk line in advance: losses come after a barrier is breached, not from every wobble in the market, so the exposure is quantifiable up front.simplify.us
- A structured-note-style payoff without the note. A 1940 Act ETF you can buy and sell on exchange any day the market is open, distributing monthly.simplify.us
- The 0.75% expense ratio sits at the median for option-income funds, mid-pack rather than the premium end, for machinery that is far from plain vanilla.
Worth knowing
- Worst-of pricing means the weakest of three baskets (US large cap, small cap, growth) sets the outcome. A breach there bites even if the other two hold up.simplify.us
- Simplify discloses that distributions can include return of capital, your own money coming back, which reduces NAV rather than adding to it.simplify.us
- It launched in 2025 and trades thinly next to the category giants, so spreads can be wider and there is little history behind the target.
XV Holdings
- Stocks
- 8
- 105%
- SBIL
Sectors
- Financials100.0%
Geography
- United States100.00%
XV 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.Not enough history yet.Not enough history yet.
XV$11,028
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 | XV |
|---|---|
| Year to date | +6.3% |
| 1 month | −0.8% |
| 3 months | +1.4% |
| 1 year | +10.3% |
| 3 years | — |
| 5 years | — |
| 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 | XV |
|---|---|---|
| 2026 YTD | +6.3% | |
| 2025 | +17.4% |
XV in the news
Category Review
The largest alternatives fund has no one-year record
XV Dividends
- 20.30%
- $4.90
- $0.30 per share
- Monthly
Distribution history
XV Risk
- 7.8%
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.
- 1.26
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.
- −5.7%
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.
- 0.55
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
XV Cost
0.75%
XV0.75%
- The middle half of Other Index Option Income funds
- Median 0.73%
14 of the 24 Other Index Option Income funds charge less.
Other funds in Other Index Option Income
- COMAHVistaShares Target 15 Berkshire Select Income ETFExpense ratio 0.95%1 year return +11.2%
- CSBARSimplify Barrier Income ETFExpense ratio 0.75%1 year return +10.3%
- CDOGGFT Vest DJIA Dogs 10 Target Income ETFExpense ratio 0.75%1 year return +17.4%
- CACIIInnovator Index Autocallable Income Strategy ETFExpense ratio 0.79%1 year return +10.9%
- CPAYMTrueShares S&P Autocallable Defensive Income ETFExpense ratio 0.74%1 year return —