Simplify Enhanced Income ETF

HIGH

Market cap $193M

Overview Fund Activity

23.35 USD

-0.21

0.89%

At close Updated Sep 12, 4:00 PM EDT

1 day

-0.89%

5 days

1.26%

1 month

-0.47%

3 months

-2.51%

6 months

5.56%

Year to date

1.26%

1 year

-0.34%

5 years

-6.97%

10 years

-6.97%

0

Funds holding %

of 7,462 funds

–

Analysts bullish %

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

200% more funds holding in top 10

Funds holding in top 10: 1 [Q1] → 3 (+2) [Q2]

17% more repeat investments, than reductions

Existing positions increased: 21 | Existing positions reduced: 18

10% more capital invested

Capital invested by funds: $107M [Q1] → $118M (+$11M) [Q2]

8.11% more ownership

Funds ownership: 54.1% [Q1] → 62.21% (+8.11%) [Q2]

5% less funds holding

Funds holding: 57 [Q1] → 54 (-3) [Q2]

25% less first-time investments, than exits

New positions opened: 9 | Existing positions closed: 12

See Fund Rankings

Financial journalist opinion

HIGH: Get Out While You Can

HIGH ETF's option-selling strategy exposes investors to significant tail risk, similar to selling insurance, which is unsuitable for most retail investors. Recent market volatility revealed Simplify Enhanced Income ETF suffered the worst drawdown among peers, contradicting its 'lower volatility' marketing claims. The fund has strayed from its mandate by selling single-tailed puts and options on speculative stocks, undermining investor trust.

HIGH: Get Out While You Can

HIGH: Elevated By Nomenclature Only, Returns Are Low (Rating Downgrade)

The Simplify Enhanced Income ETF employs a complex options trading strategy, akin to a hedge fund, which has resulted in significant underperformance compared to stable cash alternatives like BIL. HIGH's reliance on trading decisions involving assets like gold and MicroStrategy, which is tied to Bitcoin, exposes investors to high volatility and speculative risks, without delivering commensurate returns. The ETF's performance is heavily reliant on the active trading decisions of its portfolio managers. This introduces a level of risk tied to the success of those trading decisions.

HIGH: Elevated By Nomenclature Only, Returns Are Low (Rating Downgrade)

HIGH: When Options Spreads Do Not Work

The Simplify Enhanced Income ETF uses options spreads to generate higher yields, but recent active trading strategies have led to significant losses. Retail investors must distinguish between fixed income spreads and 'yield enhancement' strategies, which involve profit and loss from active trading. HIGH's strategy suffered in July/August due to the market pricing of rate cuts and HIGH's positioning, nearly wiping out its gains for the year.

HIGH: When Options Spreads Do Not Work

Simplify Provides Estimated Capital Gain Distribution Information for 2024

NEW YORK--(BUSINESS WIRE)--Simplify announced today that it expects to deliver capital gains distributions across six Simplify ETFs.

Simplify Provides Estimated Capital Gain Distribution Information for 2024

HIGH: A Sophisticated Strategy, Limited Results

HIGH combines fixed income instruments with options trading to generate a 7.2% annualized distribution yield. The fund's strategy involves T-Bills and options on indexes like NASDAQ 100 and S&P 500, but limited allocation to options restricts profitability. HIGH has underperformed compared to major indexes and peer ETFs, delivering only 11% ROI since inception, despite consistent income distributions.

HIGH: A Sophisticated Strategy, Limited Results

HIGH: Unnecessary Risk From Unpredictable Option Spreads

Initially, the Simplify Enhanced Income ETF seemed promising, offering a 9% yield by leveraging short-term U.S. treasuries and option spreads. The fund's options spread strategy, however, is too unpredictable and has downside risk that was exposed by the unwinding of the Japanese Yen carry trade. These downside risks make HIGH less attractive, questioning its reliability and suitability for retail investors seeking stable income.

HIGH: Unnecessary Risk From Unpredictable Option Spreads

New Preferred Stock And Exchange Traded Debt IPOs, July 2024

New offerings from New York Mortgage Trust, Dime Community Bancshares, and Oxford Lane Capital Corp. with fixed coupon rates and credit ratings. DCOMG achieved a perfect CDx3 Compliance Score, while Morgan Stanley and Regions Financial Corporation also priced new preferred stock offerings. Investors can buy new shares at wholesale prices through the OTC exchange, track past preferred stock IPOs below par, and stay updated on the current marketplace offerings.

New Preferred Stock And Exchange Traded Debt IPOs, July 2024

HIGH: Recent Developments

HIGH is a somewhat unique income ETF. It invests in t-bills and option spreads, generating significant income and premiums. HIGH currently yields 9.3%, although returns have slightly trailed behind.

HIGH: Recent Developments

Checking In On HIGH, An Options Spreads Fund

HIGH is an ETF from Simplify Asset Management. It aims to generate monthly income through short-dated option spreads on various equities. The core holdings are Treasury Bills with an overlay of constantly changing options positions. HIGH has had respectable performance in 2024, outperforming Treasury bonds by 70 bps with a low-risk profile, suitable for cash parking instruments.

Checking In On HIGH, An Options Spreads Fund

HIGH: Underappreciated Operational Risk

The Simplify Enhanced Income ETF sells options to generate modest income for investors. A recent blowup at the Simplify Macro Strategy ETF highlights operational risk at the asset manager, as the fund was investing outside of its mandate. Investors may want to consider alternatives to the HIGH ETF due to heightened operational risk and mandate drift with Simplify products.

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