Simplify Hedged Equity ETF
The adviser seeks to achieve the fund’s investment objective by investing primarily in equity securities and applying an option overlay known as a “put/spread collar” strategy. Under normal circumstances, it invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities, primarily by purchasing exchange-traded funds (“ETFs”) that seek to track the investment results of the S&P 500 Index. The fund typically invests at least 80% of the fund’s portfolio in underlying ETFs.
SOURCE: MARKET TAPE & DAILY CREATION/REDEMPTION RECORDS · 6M SHOWN · NET — OVER THIS RANGE
Flows are quiet — the past month netted out near zero, while the price has returned +7.4% so far this year. At 0.53% a year it is not the cheapest way in — ITDG runs the same ground at 0.11%.
COMPOSED FROM THE FUND’S OWN DAILY RECORDS · UPDATED WITH EACH REFRESH
| # | Holding | Weight | Price | Day | 52-wk | |
|---|---|---|---|---|---|---|
| 1 | IVVISHARES CORE S&P 500 ETF | 100.68% | $771.00 | -0.7% | ||
| 2 | 2367640023676400 | 0.00% | — | — | — | |
| 3 | 3377587733775877 | 0.07% | — | — | — | |
| 4 | 3376782333767823 | 0.18% | — | — | — |
| 1 week | -0.2% |
| 1 month | +2.5% |
| 3 months | +3.7% |
| 6 months | +6.7% |
| YTD | +7.4% |
| 1 year | — |
| 3 years | — |
PRICE RETURN, DISTRIBUTIONS NOT REINVESTED
| 1 week | — |
| 1 month | — |
| 3 months | — |
| YTD | — |
| 1 year | — |
CREATION/REDEMPTION DOLLARS, DAILY RECORDS
The top holding is 100.7% of the book; the top ten carry 101%. Spread across 4+ names, it behaves like roughly 1 equally-weighted positions.
VOLATILITY & DRAWDOWN FROM THE DAILY TAPE · CONCENTRATION FROM THE LATEST DISCLOSED BOOK
| Most-traded holdings, options premium | Bullish | Bearish |
|---|---|---|
| IVV ISHARES CORE S&P 500 ETF | $281,516 | $467,506 |
TODAY’S OPTIONS PREMIUM IN THE FUND’S UNDERLYING NAMES
Due diligence cuts both ways. These funds sit on the same shelf and beat HEQT on at least one dimension that matters — the fee, the asset base, or where the money is going.
| Fund | Fee | Assets | Flow, 1M | The case | |
|---|---|---|---|---|---|
| ESMV iShares ESG MSCI USA Min Vol Factor ETF | 0.18% | $7904.06T | −$41K | -35bp on fee · 37042121× the assets | Head-to-head |
| USMV iShares MSCI USA Min Vol Factor ETF | 0.15% | $24.1B | −$81M | -38bp on fee · 113× the assets | Head-to-head |
| EFAV iShares MSCI EAFE Min Vol Factor ETF | 0.22% | $5.5B | +$101M | -31bp on fee · 26× the assets · +$101M in over the month | Head-to-head |
| ACWV iShares MSCI Global Min Vol Factor ETF | 0.20% | $3.4B | −$7M | -33bp on fee · 16× the assets | Head-to-head |
| LQDH iShares Interest Rate Hedged Corporate Bond ETF | 0.23% | $540M | +$37M | -30bp on fee · 3× the assets · +$37M in over the month | Head-to-head |