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CDX · Simplify High Yield ETF

Know the company

Company overview

Simplify High Yield ETF combines high-yield credit exposure with derivatives. Bond and loan payments can generate income, while credit events and derivative positions influence the value left behind.

Business
High-yield and derivative ETF
Listing
CDX · ARCX
Reporting period
2026-06-30
Dividend schedule
Monthly

How the business works

Investment income after expenses appears in net investment income. Credit losses and derivative gains or losses are separate parts of the result, so that income line alone cannot explain the whole cash payment.

Simplify High Yield ETF: financial report supporting reported earnings

Dividend & earnings snapshot

Reported earnings

Each measure shown separately, per share

Net investment income$0.79

Jul 1, 2025 to Jun 30, 2026

Distribution yield8.29%Sourced distributions divided by dated market price
Reported annual income yield3.74%Reported net investment income $0.7900 per share for 2025-07-01 to 2026-06-30, divided by approved 2026-06-30 market price $21.1200. Excludes capital gains; historical, not a current yield or forecast.
Trailing 12-month distributions$1.70Recorded recurring payments per share, not a forecast
Reported-period income coverageNot availableReported net investment income and total distributions for the same period are needed.
Verified dividend dates and payment components

Issuer announcements supplement the recorded totals above. Each declared payment is shown separately. Additional payments are not assumed to repeat.

Verified earnings history and sources

The latest four recorded reporting periods. Each issuer measure keeps its own name and dates. These source records supplement the Fly High figures above; different measures are not added together or assumed comparable.

Reporting periodEarnings measurePer shareSource
Jul 1, 2025 to Jun 30, 2026Net investment income$0.79Issuer source 1
Announced Sep 8, 2026

Business and earnings charts

Financial snapshot: 2026-06-30. Research reviewed 2026-09-18. Source dates are retained with each measure; historical results are not a forecast.

The assets it owns

$354.582 million net assetsHigh-yield and derivative ETF

Net assets checked 2026-09-11. Borrowings and preferred financing are excluded from this net-assets figure.

A complete, comparable portfolio allocation is not available for this chart. No percentages have been estimated.

Simplify High Yield ETF: net assets and portfolio information, checked 2026-09-11

Reported earnings and distributions

2025-07-01 to 2026-06-30 · $ per share

Fund net investment income per common share; actual reporting period, not annualized$0.7900
Total cash distributions in the same period$1.7400

For the year ended June 30, 2026, CDX reported $0.79 of net investment income and $1.74 of distributions per share. Net asset value fell from $23.20 to $21.05. The cash paid exceeded the income line, and the decline in capital value puts credit and derivative results at the center of the next review.

Simplify High Yield ETF: financial report supporting reported earnings

Cash distributions and reported returns

Cash distributions are the total paid per share during each reporting period, including any gains or return of capital. Period lengths may differ, so compare the dates before comparing amounts. Short periods are not annualized.

Reporting periodEnding NAVNAV changeDistributions / shareReported NAV total returnSource
Jul 1, 2025 to Jun 30, 2026$21.05-9.27%$1.74-1.88%Verified issuer financial highlights for this exact fiscal period; total return is reported, not inferred.

NAV change excludes distributions. Reported NAV total return includes reinvestment and is copied from the fund statement, not estimated by adding cash distributions to the NAV change.

Reported-period income coverage

Reported net investment income divided by total distributions for each period. Investment gains and return of capital may also support payments, so this comparison alone does not establish distribution sustainability.

Reporting periodNet investment income/shareTotal distributions/shareIncome coverage
2024-07-01 to 2025-06-30 $0.98 $2.70 36.3%
2025-07-01 to 2026-06-30 $0.79 $1.74 45.4%

Risk monitor

RiskCurrent conditionDirectionWhy it matters
Portfolio and strategy riskIncome and capital are exposed to credit losses, derivative execution and financing conditions.MonitorA change can affect future distributions or shareholder capital.
Distribution variabilityPayments can change and can include gains or return of capital. A high trailing yield does not establish earnings coverage or total return.MonitorA change can affect future distributions or shareholder capital.
Market and implementation riskMarket liquidity, trading costs, derivative execution where used, and fund expenses can reduce shareholder returns.MonitorA change can affect future distributions or shareholder capital.

The assets behind the earnings

How CDX makes money

Financial snapshot: 2026-06-30. Research reviewed 2026-09-18. Source dates are retained with each measure; historical results are not a forecast.

The income-producing business

Portfolio interest and dividends, realized investment results and any derivative activity contribute to distribution resources after expenses. Taxable income and cash distributions can differ from reported net investment income.

The earnings available to shareholders depend on the cash generated by these activities after operating and financing costs. Portfolio gains, financing proceeds and recurring income should be evaluated separately.

Simplify High Yield ETF: financial report supporting reported earnings

What the reported earnings support

Simplify High Yield ETF reported $0.7900 per share for 2025-07-01 to 2026-06-30, measured as Fund net investment income per common share; actual reporting period, not annualized.

Actual per-share reporting period, without annualisation. Net investment income, realized gains, unrealized changes and cash distributions are different measures. This comparison is not the Fly High forward Dividend Coverage Ratio.

Simplify High Yield ETF: financial report supporting reported earnings

Distribution variability

Payments can change and can include gains or return of capital. A high trailing yield does not establish earnings coverage or total return.

Watch for changes in the underlying exposure and the next reported results before treating the current payment as evidence of continuing earnings support.

Simplify High Yield ETF: financial report supporting reported earnings

What would change the earnings picture?

At the next full-year report, compare income, credit results, derivative outcomes, cash paid and net asset value on the same period basis.

Net asset value (NAV)

NAV per share$20.2200Sep 29, 2026
Market price$20.1800Sep 29, 2026
PREMIUM / DISCOUNT TO NAV0.20% discountCalculated from the displayed same-date values.

NAV is the fund's assets minus liabilities, divided by shares outstanding. All values are USD per share.

Simplify issuer-reported ETF NAV and market price, both dated 2026-09-29. The published premium or discount agrees with the calculation within source rounding. Older audited NAV history remains unchanged.

NAV source · Market-price source

Current evidence and recent developments

  • Reported fund net investment income per share: $0.79 for 2025-07-01 to 2026-06-30; actual period, not annualized.
  • Trailing distribution screen: 8.29% on 2026-09-11.
  • Latest announced cash distribution in the checked history: $0.1300; usual frequency monthly.

What to watch next

  • At the next full-year report, compare income, credit results, derivative outcomes, cash paid and net asset value on the same period basis.

Fly High context

At the next full-year report, compare income, credit results, derivative outcomes, cash paid and net asset value on the same period basis.

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U.S. federal · Tax year 2025

Dividend tax treatment

The fund's 2025 distributions were mainly ordinary dividends. The mix can change from year to year.

This issuer information is a guide, not your personal tax statement. Use your Form 1099-DIV when you file.

Ordinary, nonqualified
100%
Qualified dividends
0%
Capital-gain distributions
0%
Return of capital
0%

Tax year: 2025. Total distributions: $1.60 per share.

Tax details and source
Total ordinary dividends (includes qualified)
100%
Section 199A portion (within ordinary dividends)
0%
Exempt-interest distributions
0%
Reporting form
Form 1099-DIV
Source date
2026-02-02

Qualified dividends are included in total ordinary dividends. Section 199A is a separate designation within ordinary dividends, not extra income or qualified dividend income.

Tax source

Your account type, holding period and circumstances affect treatment. Use your broker’s tax statement for filing. Return of capital generally reduces cost basis; amounts beyond basis can be taxable. IRS dividend guidance.

Public Research updated September 30, 2026 6:43 pm

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