HIYY vs XXV: Grades, Fees and Holdings Compared

YieldMax HIMS Option Income Strategy ETF

HIYYCNYSE Arca

Simplify Ancorato Target 25 Distribution ETF

XXVANYSE Arca

Overlap

0.0%by weight

Expense ratio

XXV −0.23pt a year

HIYY1.01%XXV0.78%

Avg volume · 30D

HIYY 1.6×the volume

HIYY50.8KXXV31.8K

HIYY vs XXV Performance

Dec 31, 2025 – Nov 2, 2026

−19.3%HIYY+1.7%XXV

Expense ratio: HIYY 1.01%; XXV 0.78%, better
Fund size: HIYY $23M; XXV $51M
1Y total return: HIYY −38.3%; XXV No data
Yield (12M): HIYY 146.73%; XXV No data
Holdings: HIYY 9; XXV 6
Avg volume (30D): HIYY 50.8K sh, better; XXV 31.8K sh
NAV per share: HIYY $10.65; XXV $21.35
52W range

ETF.net Grade

Pillar letters and Scores for HIYY, XXV, with each pillar’s weight
Pillar	HIYY	XXV
Cost30% weight	B59	A97Higher
Mission25% weight	A70	Not scored
Risk15% weight	F20	A86Higher
Tradability15% weight	C45	B66Higher
Holdings10% weight	Not scored	A70
Durability5% weight	B63	B65Higher

Rank among Single-Stock Option Income funds

How we build Categories ›

Same Category. HIYY and XXV are both graded against the same 71 Single-Stock Option Income funds, so their Grades compare head to head.

Single-Stock Option Income⁠

Category · 71 funds

See all 71 ›

XXV ranks 3rd and HIYY 30th of 71 funds in the Single-Stock Option Income Category.

Rank 1AKWINKraneShares Wahed Alternative Income Index ETFScore 87
Rank 2AACYQFT Vest Autocallable Barrier & High Income ETFScore 85
Rank 3AXXVSimplify Ancorato Target 25 Distribution ETFScore 84
Rank 4AAAPYKurv Yield Premium Strategy Apple (AAPL) ETFScore 79
Rank 30CFBYYieldMax META Option Income Strategy ETFScore 53
Rank 30CHIYYYieldMax HIMS Option Income Strategy ETFScore 53
Rank 30CXOMOYieldMax XOM Option Income Strategy ETFScore 53

Our read on each fund

ETF.net Research

HIYYCYieldMax HIMS Option Income Strategy ETF

XXVASimplify Ancorato Target 25 Distribution ETF

In short

HIYY Turns one volatile telehealth stock into a monthly income stream: HIYY takes synthetic exposure to Hims & Hers and sells calls against it, trading away part of the upside for option premium.

XXV Structured-note income without the bank. XXV sells barrier put options on single stocks, and sometimes worst-of baskets, chasing an aspirational 25% annualized payout, with the options rolled continuously. The top rung of Simplify's barrier-income ladder.

Stated mandate

HIYY The Fund seeks current income while providing indirect exposure to Hims & Hers Health Inc.'s share-price returns, generally subject to a limit on potential gains. It primarily uses a synthetic covered call or covered call spread strategy.

XXV XXV seeks high monthly income through selling barrier put options referencing individual stocks, with possible use of worst-of baskets of individual stocks. Its 25% annualized distribution goal is aspirational and not guaranteed.

Why people hold it

HIYY Charges 1.01%, a shade under the typical single-stock option income fund and less than HMYY, the other fund built on the same Hims & Hers exposure.
Pays monthly, with cash generated by writing options rather than by dividends, and the synthetic structure gets the exposure without buying the shares outright.
Actively managed inside a standard 1940 Act ETF wrapper, and it lands in the upper half of a crowded field of single-stock income funds.

XXV 0.85% a year sits below the going rate in its single-stock options-income cohort, where peers like BRKC and TSMY run near 1%.
Options are rolled automatically and continuously, and the ETF wrapper strips out the bank credit risk you take on with a traditional structured note.simplify.us simplify.us 2
Built around cash flow: barriers are adjusted to levels designed to support a 25% annualized distribution target, paid monthly.simplify.us
Sub-advised by Ancorato Capital, a structured-products specialist, and one of the stronger implementations in a crowded options-income field.simplify.us

Worth knowing

HIYY Upside is capped by design, downside is not: the covered call spread limits how much of a Hims & Hers rally you keep while the drops come through.
One stock, one story. Moves here are far wider than a diversified income fund, and the premium collected rises and falls with that volatility.
A 2025 launch with a modest asset base and moderate trading, so spreads can run wider than in the market's biggest income ETFs.

XXV Barriers cushion, they do not erase. Selling puts on single stocks means the fund wears the loss when a reference name breaks through its barrier.simplify.us
The 25% figure is an aspirational goal, not a promise, and distributions may include return of capital, which is your own money coming back.
Launched in late 2025 and thinly traded, so bid-ask spreads can cost more than the expense ratio on the way in and out.

Full HIYY profile⁠

Full XXV profile⁠

HIYY vs XXV Holdings

How HIYY and XXV differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of HIYY and 0.0% of XXV.

Level by level

Asset classAlternatives, Equity0.0%
Holdings0 in both0.0%
Countryby domicile100%

Sector

No Sector split for HIYY and XXV.

Country, concentration and asset class

Country by domicile

Country weights in HIYY and XXV, widest gap first
Country	More in HIYYMore in XXV	HIYY	XXV
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

HIYY112.7%
XXV118.0%

Securities held

HIYY8
XXV5

Asset class

HIYY: Alternatives
XXV: Equity

Holdings

Only in HIYY8
In both0
Only in XXV5

Only in HIYY

8 securities, 100% of HIYY by weight

United States Treasury Bill 07/08/202735.48%
United States Treasury Note/Bond 2.375% 05/15/202734.48%
United States Treasury Note/Bond 3.375% 09/15/202717.50%
Hims 11/20/2026 27.01 C11.06%
United States Treasury Bill 02/18/20274.39%
First American Government Obligations Fund 12/01/20313.17%
Hims Us 11/06/26 C291.34%
Hims Us 11/06/26 C29.50.92%

Only in XXV

5 securities, 100% of XXV by weight

Simplify E Govt Money Mkt Etf59.12%
B 1/28/27 Govt29.22%
B 3/11/27 Govt19.24%
B 12/31/26 Govt7.51%
B 12/3/26 Govt2.50%

Weight gaps

HIYY and XXV share no securities.

All HIYY holdings⁠All XXV 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.

HIYY vs XXV Cost

Overpaying HIYY vs XXV

$3,848

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

HIYY 1.01%
$18,850
XXV 0.78%
$15,002

Amount$10,000

Years30 years

Cost over time

HIYY 1.01%
XXV 0.78%
Overpaying

Year by year

Year	HIYY	XXV	Overpaying
10	$1,780	$1,388	$392
20	$6,686	$5,268	$1,418
30	$18,850	$15,002	$3,848

Expense ratio

1.01%HIYY
0.78%XXV, cheaper

XXV0.78%HIYY1.01%

0.51%1.91%

Middle half of Single-Stock Option Income funds
Median 1.04%

XXV 3rd cheapest of 71 funds

HIYY 25th cheapest of 71 funds

HIYY vs XXV Dividends

Last 12 months to Nov 2, 2026

Yield (12M): HIYY 146.73%; XXV No data
Payout (12M): HIYY $14.39; XXV No data
Last payment: HIYY $0.14; XXV $0.46
Ex-dividend: HIYY Oct 29, 2026; XXV Oct 27, 2026
Paid on: HIYY Oct 30, 2026; XXV Oct 30, 2026
Frequency: HIYY Weekly; XXV Monthly

Distribution history

Per share, 2026, same scale for both

HIYYWeekly · 44 paymentsAll HIYY payments⁠

XXVMonthly · 10 paymentsAll XXV payments⁠

HIYY vs XXV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: HIYY 71.9%since Oct 2025XXV No data
Return per unit of riskSharpe ratio, 3 years: HIYY −0.46since Oct 2025XXV No data
Worst fallMax drawdown, 5 years: HIYY −73.8%since Sep 2025XXV No data
Market sensitivityBeta, 5 years: HIYY 0.07XXV 0.71; Market = 1

Popular comparisons

HIYYCvsKWINA
YieldMax HIMS Option Income Strategy ETF · KraneShares Wahed Alternative Income Index ETF
Expense ratio
1.01% · 0.51%
Category
XXVAvsKWINA
Simplify Ancorato Target 25 Distribution ETF · KraneShares Wahed Alternative Income Index ETF
Expense ratio
0.78% · 0.51%
Category
HIYYCvsACYQA
YieldMax HIMS Option Income Strategy ETF · FT Vest Autocallable Barrier & High Income ETF
Expense ratio
1.01% · 0.75%
Category
XXVAvsACYQA
Simplify Ancorato Target 25 Distribution ETF · FT Vest Autocallable Barrier & High Income ETF
Expense ratio
0.78% · 0.75%
Category
HIYYCvsAAPYA
YieldMax HIMS Option Income Strategy ETF · Kurv Yield Premium Strategy Apple (AAPL) ETF
Expense ratio
1.01% · 0.99%
Category
XXVAvsAAPYA
Simplify Ancorato Target 25 Distribution ETF · Kurv Yield Premium Strategy Apple (AAPL) ETF
Expense ratio
0.78% · 0.99%
Category