SMCY vs XXV: Grades, Fees and Holdings Compared

YieldMax SMCI Option Income Strategy ETF

SMCYBNYSE Arca

Simplify Ancorato Target 25 Distribution ETF

XXVANYSE Arca

Overlap

0.0%by weight

Expense ratio

XXV −0.23pt a year

SMCY1.01%XXV0.78%

Avg volume · 30D

SMCY 33.6×the volume

SMCY1.07MXXV31.8K

SMCY vs XXV Performance

Dec 31, 2025 – Oct 30, 2026

−0.4%SMCY+3.5%XXV

Expense ratio: SMCY 1.01%; XXV 0.78%, better
Fund size: SMCY $118M; XXV $51M
1Y total return: SMCY −37.0%; XXV No data
Yield (12M): SMCY 135.28%; XXV No data
Holdings: SMCY 8; XXV 6
Avg volume (30D): SMCY 1.07M sh, better; XXV 31.8K sh
NAV per share: SMCY $4.15; XXV $21.35
52W range

ETF.net Grade

Pillar letters and Scores for SMCY, XXV, with each pillar’s weight
Pillar	SMCY	XXV
Cost30% weight	B59	A97Higher
Mission25% weight	A70	Not scored
Risk15% weight	F23	A86Higher
Tradability15% weight	B62	B64Higher
Holdings10% weight	Not scored	A70
Durability5% weight	A79Higher	B65

Rank among Single-Stock Option Income funds

How we build Categories ›

Same Category. SMCY 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 SMCY 21st 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 21BPLTYYieldMax PLTR Option Income Strategy ETFScore 57
Rank 21BSMCYYieldMax SMCI Option Income Strategy ETFScore 57
Rank 21BXSHPKurv SpaceX Enhanced Income ETFScore 57

Our read on each fund

ETF.net Research

SMCYBYieldMax SMCI Option Income Strategy ETF

XXVASimplify Ancorato Target 25 Distribution ETF

In short

SMCY SMCY owns no Super Micro stock. It rents the name's volatility instead: a synthetic long built from options with short-term Treasuries as collateral, harvesting call premium off one of the loudest tickers in the AI complex.

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

SMCY The Fund seeks current income while providing exposure to the share price of Super Micro Computer, Inc., subject to a general limit on potential investment gains.

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

SMCY Charges 1.01%, under the middle of the single-stock option-income pack, and it trades actively enough that getting in and out isn't the hard part.
The issuer describes writing call spreads rather than plain short calls, a build that leaves some room to participate in SMCI's share price while premium comes in.yieldmaxetfs.com
Exposure is synthetic and collateralized: options do the work, cash and short-term Treasuries sit underneath. You get SMCI's price action, not SMCI shares.yieldmaxetfs.com
Among the dozens of single-stock income overlays now on the tape, this one grades out in the upper tier of its peer group.

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

SMCY Upside is capped by design. The fund's stated objective limits participation in gains, while SMCI's declines still flow through.yieldmaxetfs.com
Payouts can include return of capital, meaning part of a distribution may be your own principal coming back rather than income the strategy earned.yieldmaxetfs.com
One stock, one story. Launched in 2024, so the track record is short and everything here rides on Super Micro's share price.

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 SMCY profile⁠

Full XXV profile⁠

SMCY vs XXV Holdings

How SMCY and XXV differ

Overlap by weight

0.0%

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

Level by level

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

Sector

No Sector split for SMCY and XXV.

Country, concentration and asset class

Country by domicile

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

Concentration

Weight in the 10 largest Holdings

SMCY118.7%
XXV118.0%

Securities held

SMCY7
XXV5

Asset class

SMCY: Alternatives
XXV: Equity

Holdings

Only in SMCY7
In both0
Only in XXV5

Only in SMCY

7 securities, 100% of SMCY by weight

United States Treasury Bill 02/18/202728.85%
United States Treasury Bill 07/08/202725.93%
United States Treasury Note/Bond 2.375% 05/15/202725.76%
United States Treasury Bill 12/10/202614.44%
Smci 11/20/2026 35.01 C7.06%
United States Treasury Note/Bond 3.375% 09/15/20274.92%
Smci Us 11/06/26 C36.53.47%

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

SMCY and XXV share no securities.

All SMCY 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.

SMCY vs XXV Cost

Overpaying SMCY vs XXV

$3,848

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

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

Amount$10,000

Years30 years

Cost over time

SMCY 1.01%
XXV 0.78%
Overpaying

Year by year

Year	SMCY	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%SMCY
0.78%XXV, cheaper

XXV0.78%SMCY1.01%

0.51%1.91%

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

XXV 3rd cheapest of 71 funds

SMCY 25th cheapest of 71 funds

SMCY vs XXV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): SMCY 135.28%; XXV No data
Payout (12M): SMCY $5.57; XXV No data
Last payment: SMCY $0.05; XXV $0.46
Ex-dividend: SMCY Oct 29, 2026; XXV Oct 27, 2026
Paid on: SMCY Oct 30, 2026; XXV Oct 30, 2026
Frequency: SMCY Weekly; XXV Monthly

Distribution history

Per share, 2026, same scale for both

SMCYWeekly · 44 paymentsAll SMCY payments⁠

XXVMonthly · 10 paymentsAll XXV payments⁠

SMCY vs XXV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: SMCY 70.3%since Oct 2024XXV No data
Return per unit of riskSharpe ratio, 3 years: SMCY −0.08since Oct 2024XXV No data
Worst fallMax drawdown, 5 years: SMCY −64.3%since Sep 2024XXV No data
Market sensitivityBeta, 5 years: SMCY 2.67XXV 0.71; Market = 1

SMCY and XXV in the news

All news⁠

Top Movers
SpaceX rises 7.8% after a $4.4 billion profit and merger talk
Oct 21, 2026SMCY
Top Movers
ARKG jumps 7.8% as genomics leads a narrow rebound
Sep 17, 2026SMCY
Top Movers
Tanker fund gains 12% as crude falls and Dell, HPE rally
Sep 11, 2026SMCY

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SMCY vs XXV

In short

Stated mandate

Why people hold it