Key stats
About Simplify High Yield ETF
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Inception date
Feb 14, 2022
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Simplify Asset Management, Inc.
CDX aims for income by providing exposure to US high-fixed income ETFs and a credit hedge overlay. The portfolios ETFs target bonds with different maturities, durations, and quality, such as iShares Broad High Yield ETF (USHY) and the VanEck Fallen Angel High Yield ETF (ANGL). CDX will utilize several credit hedge strategies consisting of calls on credit default swaps, SPX puts, and Quality-Junk factor-based hedges (quality-minus-junk or QMJ). In a QMJ strategy, investors go long high-quality securities and short low-quality ones. These strategies are designed to help protect the core high-yield exposure when credit spreads widen. Up to 20% of the portfolio can be invested in derivatives, containing exchange-traded and OTC put and call options on equity or fixed income indices, equity or fixed income ETFs, and purchasing total return swaps. The adviser anticipates buying and selling its derivatives depending upon the funds rebalancing requirements and expiration dates.
Classification
What's in the fund
Exposure type
Government
Stock breakdown by region
Top 10 holdings
Summarizing what the indicators are suggesting.
Oscillators
Neutral
SellBuy
Strong sellStrong buy
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Oscillators
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
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Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Summary
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Moving Averages
Neutral
SellBuy
Strong sellStrong buy
Strong sellSellNeutralBuyStrong buy
Displays a symbol's price movements over previous years to identify recurring trends.