ATTR vs SPD: Grades, Fees and Holdings Compared

Arin Tactical Tail Risk ETF

ATTRBCboe

Simplify US Equity PLUS Downside Convexity ETF

SPDBNYSE Arca

Overlap

0.0%by weight

Expense ratio

SPD −0.10pt a year

ATTR0.63%SPD0.53%

Avg volume · 30D

SPD 3.9×the volume

ATTR3.58KSPD14K

ATTR vs SPD Performance

Oct 31, 2025 – Oct 30, 2026

+7.0%ATTR+2.5%SPD

Expense ratio: ATTR 0.63%; SPD 0.53%, better
Fund size: ATTR $116M; SPD $78M
1Y total return: ATTR +7.0%, better; SPD +2.5%
Yield (12M): ATTR No data; SPD 1.23%
Holdings: ATTR 14; SPD 22
Avg volume (30D): ATTR 3.58K sh; SPD 14K sh, better
NAV per share: ATTR $96.34; SPD $40.77
52W range

ETF.net Grade

Pillar letters and Scores for ATTR, SPD, with each pillar’s weight
Pillar	ATTR	SPD
Cost30% weight	C54	A78Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	A87Higher	B62
Tradability15% weight	C51	C53Higher
Holdings10% weight	Not scored	D37
Durability5% weight	D32	B62Higher

Rank among Portfolio Hedging funds

How we build Categories ›

Same Category. ATTR and SPD are both graded against the same 10 Portfolio Hedging funds, so their Grades compare head to head.

Portfolio Hedging⁠

Category · 10 funds

See all 10 ›

SPD ranks 1st and ATTR 5th of 10 funds in the Portfolio Hedging Category.

Rank 1BSPDSimplify US Equity PLUS Downside Convexity ETFScore 67
Rank 2BCAOSAlpha Architect Tail Risk ETFScore 66
Rank 4BRFIXSimplify Bond Bull ETFScore 63
Rank 5BATTRArin Tactical Tail Risk ETFScore 59
Rank 6BTAILCambria Tail Risk ETFScore 56

Our read on each fund

ETF.net Research

ATTRBArin Tactical Tail Risk ETF

SPDBSimplify US Equity PLUS Downside Convexity ETF

In short

ATTR No data

SPD Most 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

ATTR No data

SPD 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

ATTR No data

SPD 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

ATTR No data

SPD 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.

Full ATTR profile⁠

Full SPD profile⁠

ATTR vs SPD Holdings

How ATTR and SPD differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of ATTR and 0.0% of SPD.

Level by level

Holdings0 in both0.0%
Sector11 Sectors97.8%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in ATTR and SPD, widest gap first
Sector	More in ATTRMore in SPD	ATTR	SPD
Technology	ATTR +1.3 points	40.1%	38.8%
Communication	ATTR +0.7 points	9.9%	9.2%
Financials	SPD +0.5 points	11.3%	11.8%
Health Care	SPD +0.4 points	9.4%	9.8%
Energy	SPD +0.4 points	3.4%	3.8%
Consumer Staples	SPD +0.3 points	4.4%	4.7%
Consumer Discretionary	SPD +0.3 points	8.7%	9.0%
Industrials	ATTR +0.2 points	7.6%	7.4%
Utilities	SPD +0.1 points	1.9%	2.0%
Real Estate	SPD +0.1 points	1.7%	1.8%
Materials	Same weight	1.6%	1.6%

Country, concentration and asset class

Country by domicile

Country weights in ATTR and SPD, widest gap first
Country	More in ATTRMore in SPD	ATTR	SPD
United States	SPD +0.1 points	99.5%	99.5%
Switzerland	Same weight	0.3%	0.3%
China	Same weight	0.1%	0.1%
Mexico	ATTR +0.1 points	0.1%	0.0%
Ireland	Same weight	0.0%	0.0%
United Kingdom	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

ATTR122.0%
SPD132.7%

Securities held

ATTR14
SPD20

Asset class

ATTR: Equity
SPD: Equity

Holdings

Only in ATTR14
In both0
Only in SPD20

Only in ATTR

14 securities, 100% of ATTR by weight

Spy 12/18/2026 10010.01 P58.42%
Alpha Architect Tail Risk Etf30.42%
Spx Us 12/18/26 P1340025.17%
Spy 12/18/2026 10.01 C4.74%
First American Government Obligations Fund 12/01/20312.58%
Spx Us 02/19/27 P32000.24%
Spx Us 11/20/26 P73300.18%
Spxw Us 12/18/26 C70000.11%
Spxw Us 11/06/26 P74000.08%
Spx Us 01/15/27 P32000.08%
Spxw Us 12/18/26 P80000.07%
Spx Us 12/18/26 P29000.04%
Spxw Us 01/15/27 P32000.04%
Spx Us 11/20/26 P2800<0.01%

Only in SPD

20 securities, 100% of SPD by weight

Ishares Core S+p 500 Etf91.57%
Trs Sbar 05142718.87%
Trs Sbar 06152712.68%
B 1/28/27 Govt2.41%
SPXW US 01/15/27 P6550 Index1.04%
B 12/3/26 Govt0.66%
SPXW US 11/20/26 P7050 Index0.36%
SPXW US 11/20/26 P6525 Index0.22%
SPXW US 12/18/26 C8100 Index0.04%
SPXW US 01/15/27 C8150 Index0.04%
SPXW US 12/18/26 C8075 Index0.03%
SPXW US 12/18/26 C8275 Index0.01%
SPXW US 12/18/26 C8250 Index0.01%
SPXW US 11/20/26 C8000 Index<0.01%
SPXW US 11/30/26 C8150 Index<0.01%
SPXW US 11/30/26 C8250 Index<0.01%
SPXW US 11/20/26 C8150 Index<0.01%
SPXW US 11/13/26 C8100 Index<0.01%
SPXW US 11/20/26 C8250 Index<0.01%
SPXW US 11/20/26 C8350 Index<0.01%

Weight gaps

ATTR and SPD share no securities.

All ATTR holdings⁠All 40 SPD holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ATTR vs SPD Cost

Overpaying ATTR vs SPD

$1,823

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

ATTR 0.63%
$12,359
SPD 0.53%
$10,536

Amount$10,000

Years30 years

Cost over time

ATTR 0.63%
SPD 0.53%
Overpaying

Year by year

Year	ATTR	SPD	Overpaying
10	$1,128	$953	$175
20	$4,311	$3,658	$653
30	$12,359	$10,536	$1,823

Expense ratio

0.63%ATTR
0.53%SPD, cheaper

SPD0.53%ATTR0.63%

0.50%0.98%

Middle half of Portfolio Hedging funds
Median 0.63%

SPD 2nd cheapest of 10 funds

ATTR 5th cheapest of 10 funds

ATTR vs SPD Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ATTR No data; SPD 1.23%
Payout (12M): ATTR None; SPD $0.50
Last payment: ATTR No data; SPD $0.20
Ex-dividend: ATTR No data; SPD Sep 25, 2026
Paid on: ATTR No data; SPD Sep 30, 2026
Frequency: ATTR No data; SPD Quarterly

Distribution history

Per share, 2020 to 2026, same scale for both

ATTRAll ATTR payments⁠

No distribution history available.

SPDQuarterly · 22 paymentsAll SPD payments⁠

ATTR vs SPD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: ATTR 3.0%since Nov 2025SPD 14.1%
Return per unit of riskSharpe ratio, 3 years: ATTR 1.02since Nov 2025SPD 0.95
Worst fallMax drawdown, 5 years: ATTR −1.8%since Oct 2025SPD −27.4%
Market sensitivityBeta, 5 years: ATTR 0.21SPD 0.94; Market = 1

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