Simplify Nasdaq 100 PLUS Downside Convexity ETF
Data updated: 2023-05-22
C000223028 — Simplify Nasdaq 100 PLUS Downside Convexity ETF. United States Large Cap Growth Equity · $5.21M AUM. Holdings, fees, performance and SEC filings.
C000223028 Fund Overview
Simplify Nasdaq 100 PLUS Downside Convexity ETF is a US ETF managed by Simplify Exchange Traded Funds, categorised as United States Large Cap Growth Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Simplify Exchange Traded Funds
- Category: United States Large Cap Growth Equity
- Assets under management: $5.21M
- 1-year return: -19.7%
- SEC CIK: 0001810747
- SEC series ID: S000070116
- Share class ID: C000223028
C000223028 Investment Objective and Strategy
Simplify Nasdaq 100 PLUS Downside Convexity ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Simplify Exchange Traded Funds.
Investment objective
Investment Objective : The Simplify Nasdaq 100 PLUS Downside Convexity ETF (the Fund or QQD) seeks to provide capital appreciation.
Principal investment strategy
Principal Investment Strategies : The adviser seeks to achieve the Funds investment objective by investing primarily in equity securities of companies listed on the NASDAQ -100 Index and applying a downside convexity option overlay strategy to the equity investments. Equity Strategy The Fund has adopted a non-fundamental policy that, under normal circumstances, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities, primarily by purchasing exchange-traded funds (ETFs) that invest in companies listed on the NASDAQ -100 Index. The adviser does not frequently trade equities but seeks to maintain consistent exposure to companies listed on the NASDAQ -100 Index. Downside Convexity Option Overlay Strategy Up to twenty percent of the Funds net assets will be subject to the Funds downside convexity option overlay.
The downside convexity option overlay consists of purchasing exchange-traded and over the counter (OTC) put options on the NASDAQ -100 Index or a NASDAQ -100 Index ETF or broad-based equity market ETF. When the Fund purchases a put option, the Fund has the right, but not the obligation, to sell a stock or other asset at a specified price (strike price) within a specific time period. The downside convexity option overlay is a strategic, persistent exposure meant to hedge against market moves and is intended to add convexity to the Fund. If the market goes down, the Funds returns may fall less than the market because the adviser will sell or exercise the put options. The adviser selects options based upon its evaluation of relative value based on cost, strike price (price that the option can be bought or sold by the option holder) and maturity (the last date the option contract is valid) and will exercise or close the options based on maturity or portfolio rebalancing requirements.
The Fund anticipates purchasing options on a monthly, quarterly, and annual basis, depending upon the Funds rebalancing requirements and the individual option expiration dates. However, the Fund may rebalance its option portfolio on a more frequent basis for a number of reasons such as market volatility renders the protection provided by the option strategy ineffective or an option position has appreciated to the point that it is prudent to decrease the Funds exposure and realize gains for the Funds shareholders. While the downside convexity option overlay is intended to protect the Fund from losses, there is no guarantee that it will be able to protect the Fund from losses. Convexity in the Funds name is a reference to the mathematical term convexity. The Funds losses, if any, are anticipated to show convexity because the relationship between the Funds and market declines is not designed to be linear.
That is, if markets decline in a linear fashion, the Funds returns are expected to decline slower than the market. Otherwise stated, the term convexity in the Funds name refers to the intended non-linear nature between the Funds and the market returns; it does not refer to the concept of bond convexity, which is a measure of the non-linear relationship between bond duration and changes in interest rates.
C000223028 Performance
Total returns for C000223028 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -19.7% |
| 3 years (annualised) | -3.6% |
C000223028 Risk Information
Risk metrics for C000223028, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 26.4%
C000223028 Costs and Fees
C000223028 costs about $45 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.45%
- Gross expense ratio: 0.70%
- Portfolio turnover: 7%
- Brokerage commissions: 18.97 bps of average net assets (SEC N-CEN)
C000223028 Cashflows
Over the 12 months to 2023-03, Simplify Nasdaq 100 PLUS Downside Convexity ETF had net inflows of $35.65M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-03 | $0 |
| 2023-02 | $0 |
| 2023-01 | $2.03M |
| 2022-12 | $2.03M |
| 2022-11 | $4.19M |
| 2022-10 | $3.85M |
C000223028 Debt Constituents
No individual debt constituents are reported in Simplify Nasdaq 100 PLUS Downside Convexity ETF's latest SEC N-PORT filing.
C000223028 Prospectus and SEC Filings
Official Simplify Nasdaq 100 PLUS Downside Convexity ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-10-27
- Prospectus (485BPOS) — filed 2021-10-27
- Prospectus supplement (497) — filed 2021-02-16
- Portfolio holdings (N-PORT) — filed 2023-05-22
- Portfolio holdings (N-PORT) — filed 2023-02-23
- Portfolio holdings (N-PORT) — filed 2022-11-22
- Annual census (N-CEN) — filed 2022-09-13
- Annual census (N-CEN) — filed 2021-09-13
Related Funds
Other United States Large Cap Growth Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.