CRDT Fees and Costs — Simplify Opportunistic Income ETF
Data updated: 2026-09-11
The net expense ratio is 0.99%: a 0.95% management fee plus 0.03% other expenses. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $29K in broker commissions, 0.0491% of average net assets, and portfolio turnover was 418%.
CRDT Fees and Expenses
Annual operating expenses and sales charges of CRDT. Prospectus, as of November 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.95% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.03% |
| Gross expense ratio | 0.99% |
| Fee waiver | — |
| Net expense ratio | 0.99% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
CRDT Costs Over Time
On $10,000 invested in CRDT, assuming 5% a year before costs, total costs come to $649 over 5 years, cutting the return by 1.09% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.99%) | $104 | $324 | $562 |
| Trading costs (broker commissions) | $5 | $16 | $28 |
| Lost growth on money paid in costs | $0 | $17 | $60 |
| Total costs | $109 | $357 | $649 |
| Value after costs | $10,391 | $11,219 | $12,113 |
| Impact on return, per year | 1.09% | 1.09% | 1.09% |
CRDT Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0491%
- Total broker commissions: $29K
- Bought from dealers (principal trades, not a cost): $222.7M
- Portfolio turnover (prospectus): 418%
- Securities lending: none during the year
CRDT Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| WALLACHBETH CAPITAL, LLC | $17K | 58.82% |
| Wolverine Execution Services LLC | $5K | 18.75% |
| VIRTU AMERICAS LLC | $4K | 12.71% |
| INTERACTIVE BROKERS, LLC | $2K | 6.04% |
| STONEX FINANCIAL INC. | $1K | 3.50% |
| JANE STREET EXECUTION SERVICES, LLC | $54 | 0.19% |
CRDT Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $66.6M | 30.96% |
| CAMBRIDGE INTERNATIONAL SECURITIES, LLC | $34.0M | 15.82% |
| BARCLAYS CAPITAL, INC. | $25.2M | 11.73% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $19.6M | 9.11% |
| STONEX FINANCIAL INC. | $19.1M | 8.89% |
| DEUTSCHE BANK SECURITIES, INC. | $18.0M | 8.36% |
| GOLDMAN SACHS & CO. LLC | $14.0M | 6.52% |
| J.P. Morgan Securities LLC | $10.3M | 4.81% |
| OPPENHEIMER & CO. INC. | $4.9M | 2.29% |
| SANFORD C. BERNSTEIN & CO., LLC | $3.3M | 1.52% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.