Simplify MBS ETF
Name
As of 10/15/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
3.3%
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$750 M
Holdings in Top 10
198.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.25%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 10/15/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
MTBA - Profile
Distributions
- YTD Total Return 3.3%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 5.9%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameSimplify MBS ETF
-
Fund Family NameN/A
-
Inception DateNov 07, 2023
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
Fund Description
Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in mortgage-backed securities (“MBS”). The Fund defines MBS as any agency or non-agency residential or commercial mortgage-backed security and any futures contract, forward agreement, swap contract, or option linked to the preceding The Fund is an actively managed exchange-traded fund that seeks to achieve its investment objectives by investing primarily in MBS’s issued by the Government National Mortgage Association (“GNMA”), Federal National Mortgage Association (“FNMA”) and Federal Home Loan Mortgage Corporation (“FHLMC”). These agencies securitize pools of mortgage loans that meet the underwriting standards of the relevant agency. The Fund may also purchase MBS on a when-issued basis, (commonly referred to as “To Be Announced” or “MTBA”); and gain exposure to MBS through derivatives such as options or swap agreements. These are included as MBS for purposes of the Fund’s 80% investment policy. The Fund is deemed to be concentrated because it invests more than 25% of its net assets in MBS.
Generally, the adviser constructs the Fund’s portfolio by selecting instruments that it believes will produce the highest yield while maintaining a medium-term (3-10 years) effective duration portfolio. The adviser considers price, coupon, expected prepayment rate and maturity to calculate a security’s expected yield. Effective duration measures the interest rate sensitivity of a security including the borrower’s option to prepay its mortgage loan. For example, an effective duration of “five years” means that a security’s price would be expected to decrease by approximately 5% with a 1% increase in interest rates. The adviser sells securities to manage effective duration or when a more attractive instrument becomes available.
To generate additional returns, the adviser may use a strategy referred to as a dollar roll. In a dollar, the Fund sells, in the TBA market, a security for current month settlement, while simultaneously committing to buy a substantially similar TBA security for next month or a further month settlement. The adviser assesses the relative prices between delivery months as well as interest income on short-term investments to forecast the expected profit of this strategy, which creates investment leverage.
The Fund also holds cash and invests in cash-equivalents (money market funds) or high-quality short term fixed income securities as collateral for swaps. The Fund uses mortgage security linked swaps as a form of MBS investment and interest rate linked swaps to manage duration exposure and/or to hedge interest rate risk.
MTBA - Performance
Return Ranking - Trailing
Period | MTBA Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.3% | N/A | N/A | N/A |
1 Yr | N/A | N/A | N/A | N/A |
3 Yr | N/A* | N/A | N/A | N/A |
5 Yr | N/A* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Return Ranking - Calendar
Period | MTBA Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | N/A | N/A | N/A |
2022 | N/A | N/A | N/A | N/A |
2021 | N/A | N/A | N/A | N/A |
2020 | N/A | N/A | N/A | N/A |
2019 | N/A | N/A | N/A | N/A |
Total Return Ranking - Trailing
Period | MTBA Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.3% | N/A | N/A | N/A |
1 Yr | N/A | N/A | N/A | N/A |
3 Yr | N/A* | N/A | N/A | N/A |
5 Yr | N/A* | N/A | N/A | N/A |
10 Yr | N/A* | N/A | N/A | N/A |
* Annualized
Total Return Ranking - Calendar
Period | MTBA Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | N/A | N/A | N/A |
2022 | N/A | N/A | N/A | N/A |
2021 | N/A | N/A | N/A | N/A |
2020 | N/A | N/A | N/A | N/A |
2019 | N/A | N/A | N/A | N/A |
MTBA - Holdings
Concentration Analysis
MTBA | Category Low | Category High | MTBA % Rank | |
---|---|---|---|---|
Net Assets | 750 M | N/A | N/A | N/A |
Number of Holdings | 5 | N/A | N/A | N/A |
Net Assets in Top 10 | 1.49 B | N/A | N/A | N/A |
Weighting of Top 10 | 198.00% | N/A | N/A | N/A |
Top 10 Holdings
- United States Treasury Bill 59.21%
- Fannie Mae or Freddie Mac 43.15%
- United States Treasury Bill 40.50%
- Fannie Mae or Freddie Mac 31.10%
- Fannie Mae or Freddie Mac 24.04%
Asset Allocation
Weighting | Return Low | Return High | MTBA % Rank | |
---|---|---|---|---|
Bonds | 198.00% | N/A | N/A | N/A |
Stocks | 0.00% | N/A | N/A | N/A |
Preferred Stocks | 0.00% | N/A | N/A | N/A |
Other | 0.00% | N/A | N/A | N/A |
Convertible Bonds | 0.00% | N/A | N/A | N/A |
Cash | 0.00% | N/A | N/A | N/A |
Bond Sector Breakdown
Weighting | Return Low | Return High | MTBA % Rank | |
---|---|---|---|---|
Derivative | 0.00% | N/A | N/A | N/A |
Cash & Equivalents | 0.00% | N/A | N/A | N/A |
Securitized | 0.00% | N/A | N/A | N/A |
Corporate | 0.00% | N/A | N/A | N/A |
Municipal | 0.00% | N/A | N/A | N/A |
Government | 0.00% | N/A | N/A | N/A |
Bond Geographic Breakdown
Weighting | Return Low | Return High | MTBA % Rank | |
---|---|---|---|---|
US | 198.00% | N/A | N/A | N/A |
Non US | 0.00% | N/A | N/A | N/A |
MTBA - Expenses
Operational Fees
MTBA Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.25% | N/A | N/A | N/A |
Management Fee | 0.25% | N/A | N/A | N/A |
12b-1 Fee | N/A | N/A | N/A | N/A |
Administrative Fee | N/A | N/A | N/A | N/A |
Sales Fees
MTBA Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | N/A | N/A | N/A |
Deferred Load | N/A | N/A | N/A | N/A |
Trading Fees
MTBA Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
MTBA Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | N/A | N/A | N/A |
MTBA - Distributions
Dividend Yield Analysis
MTBA | Category Low | Category High | MTBA % Rank | |
---|---|---|---|---|
Dividend Yield | 5.90% | N/A | N/A | N/A |
Dividend Distribution Analysis
MTBA | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly |
Net Income Ratio Analysis
MTBA | Category Low | Category High | MTBA % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | N/A | N/A | N/A |
Capital Gain Distribution Analysis
MTBA | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency |
Distributions History
Date | Amount | Type |
---|---|---|
Sep 25, 2024 | $0.250 | OrdinaryDividend |
Aug 27, 2024 | $0.138 | ReturnOfCapital |
Aug 27, 2024 | $0.250 | OrdinaryDividend |
Jul 26, 2024 | $0.250 | OrdinaryDividend |
Jun 25, 2024 | $0.250 | OrdinaryDividend |
Apr 25, 2024 | $0.250 | OrdinaryDividend |
Mar 25, 2024 | $0.250 | OrdinaryDividend |
Feb 26, 2024 | $0.250 | OrdinaryDividend |
Jan 26, 2024 | $0.250 | OrdinaryDividend |
Dec 26, 2023 | $0.246 | OrdinaryDividend |