Seeking AlphaT3·29mo ago
SPD Simplify US Equity PLUS Downside Convexity ETF
ETF 41.87 DelayedETF quote, holdings, sector allocation, technicals, and options analytics. Expected move IV rank history Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
SPD
$41.87
—
Key stats
$41.87
- 52-Week Range
- $35.72 – $43.93
- YTD
- +6.70%
- IV Rank (30D)
- 6.11
- Straddle Price
- $2.33
- Open
- $41.68
- Day Range
- $41.64 – $41.95
- Volume
- 1,481
- Prev Close
- $41.55
About
Simplify US Equity PLUS Downside Convexity ETF (SPD) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2020-09-03
- Has Options
- Yes
Fund profile
holdings as of Jun 30, 2026SEC filingthrough Jun 2026flows, SEC filings
Defined-outcome fund. The stated cap and buffer apply only from the first day of the outcome period to its last; buying in between gives different terms. See what is left in the ETF lab.
- Expense ratio
- 0.53% prospectus, filed Oct 31, 2025
- Assets
- $107M SEC filing, Jun 30, 2026
- Trailing yield
- 1.19% paid quarterly
- Average daily volume
- $392K 30 sessions
- Holdings
- 21 top 10 are 100.1%
- Listed
- Sep 3, 2020 NYSE Arca
- Last fee change
- +25 bp filed Oct 27, 2023
Cost74
Liquidity20
Scale38
Diversification0
Moves with. US large-cap stocks (89% of its variance, beta 1.02). These factors explain 90% of its daily moves over the last year.
Stated objective. Investment Objective: The Simplify US Equity PLUS Downside Convexity ETF (the Fund or SPD) seeks long-term capital appreciation. (from the fund's prospectus)
Fund flows
through Jun 2026SEC filings- Jun 2026
- $0 latest reported month
- Latest 3 months
- −$7.8M −7.3% of assets
- Latest 12 months
- +$10M +9.4% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | $0 |
| May 2026 | −$6.0M |
| Apr 2026 | −$1.8M |
| Mar 2026 | −$6.7M |
| Feb 2026 | −$988K |
| Jan 2026 | +$4.9M |
| Dec 2025 | +$2.9M |
| Nov 2025 | +$3.0M |
| Oct 2025 | +$10M |
| Sep 2025 | $0 |
| Aug 2025 | +$1.8M |
| Jul 2025 | +$2.8M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 72 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| BUFRFT Vest Laddered Buffer ETF | — | 0.95% | $10.9B | +12.7% | compare |
| BALTInnovator Defined Wealth Shield ETF | — | 0.69% | $3.2B | +6.7% | compare |
| BUFDFT Vest Laddered Deep Buffer ETF | — | 0.95% | $2.2B | +10.4% | compare |
| BUFQFT Vest Laddered Nasdaq Buffer ETF | — | 1.00% | $1.7B | +14.8% | compare |
| FJANFT Vest U.S. Equity Buffer ETF - January | — | 0.85% | $1.5B | +13.4% | compare |
The largest other funds in the Buffer category.
What changed in the portfolio
Dec 31, 2025 → Mar 31, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Exit | FIDELITY INV MMTRSY 1 680 | 0.10% | — | — |
0 new, 0 exited, 0 increased and 0 decreased between the fund's two latest holdings reports; turnover 3.8%. Full holdings and history
Under the hood
fiscal year to Jun 30, 2026SEC census- Authorized participants
- 4 active of 4 with agreements; top 3 did 89%
- Created · redeemed
- $32M · $22M over the fiscal year
- Redemptions in kind
- 95% creations 84% in kind
- Creation unit
- 25,000 shares
- Securities lending
- not authorized
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-06-30
Holdings
21
AUM
$106.6M
Provider
Nport
Inception
2020-09-03
Exchange
ARCX
Data As Of
2026-06-30
Expense Ratio
0.53%
Dividend Yield
1.19%
Distribution
Quarterly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-25 | 2026-09-30 | $0.2000 | CD |
| 2026-06-25 | 2026-06-30 | $0.1000 | CD |
| 2026-03-26 | 2026-03-31 | $0.1000 | CD |
| 2025-12-23 | 2025-12-31 | $0.1000 | CD |
| 2025-09-25 | 2025-09-30 | $0.1000 | CD |
| 2025-06-25 | 2025-06-30 | $0.1000 | CD |
Asset Allocation
Top Holdings
top 21 of 21 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| IVV | ISHARES TRUST | 95.48% | Equity (common) | US |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 2.14% | Debt | US |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 0.86% | Debt | US |
| — | UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT | 0.69% | Debt | US |
| — | THE OPTIONS CLEARING CORPORATION | 0.44% | Derivative (equity) | US |
| — | THE OPTIONS CLEARING CORPORATION | 0.27% | Derivative (equity) | US |
| — | THE OPTIONS CLEARING CORPORATION | 0.11% | Derivative (equity) | US |
| — | THE OPTIONS CLEARING CORPORATION | 0.05% | Derivative (equity) | US |
| — | THE OPTIONS CLEARING CORPORATION | 0.04% | Derivative (equity) | US |
| — | THE OPTIONS CLEARING CORPORATION | 0.04% | Derivative (equity) | US |
| — | DREYFUS TRSY OBLIG CASH M | 0.04% | Short-term investment | US |
| — | THE OPTIONS CLEARING CORPORATION | 0.03% | Derivative (equity) | US |
| — | THE OPTIONS CLEARING CORPORATION | 0.02% | Derivative (equity) | US |
| — | THE OPTIONS CLEARING CORPORATION | 0.02% | Derivative (equity) | US |
| — | THE OPTIONS CLEARING CORPORATION | 0.01% | Derivative (equity) | US |
| — | THE OPTIONS CLEARING CORPORATION | 0.00% | Derivative (equity) | US |
| — | BNP PARIBAS | 0.00% | Derivative (equity) | FR |
| — | BANK OF AMERICA, NATIONAL ASSOCIATION | 0.00% | Derivative (equity) | US |
| — | THE OPTIONS CLEARING CORPORATION | -0.02% | Derivative (equity) | US |
| — | THE OPTIONS CLEARING CORPORATION | -0.19% | Derivative (equity) | US |
| — | THE OPTIONS CLEARING CORPORATION | -0.23% | Derivative (equity) | US |
Non-Equity Breakdown
Simplify US Equity PLUS Downside Convexity ETF ·
NPORT-P period 2026-06-30
(filed 2026-08-24)
Net assets:
$107M
· 21 total positions
· equity 95.48%
· non-equity 4.32%
Non-equity holdings
— 20 positions,
4.32% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| US Treasury | 3.69% | $3.9M | 3 |
| Derivative (equity) | 0.59% | $633705 | 16 |
| Short-term investment | 0.04% | $41290 | 1 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 0.87% | -4.88% | 6.27% | 1.92% | 2.81% | 0.47% | 1.24% |
| Feb | 0.65% | -3.11% | -3.59% | 3.76% | -2.73% | -2.37% | -1.23% |
| Mar | 1.45% | 2.75% | 2.77% | 0.84% | -4.97% | -6.32% | -0.58% |
| Apr | 4.07% | -7.51% | 1.05% | -3.83% | 11.68% | 8.91% | 2.40% |
| May | 2.32% | -0.72% | 0.04% | 4.72% | 4.71% | 4.85% | 2.65% |
| Jun | 1.78% | -7.29% | 4.28% | 2.90% | 3.73% | -1.33% | 0.68% |
| Jul | 0.82% | 4.94% | 2.64% | 0.70% | -0.07% | -0.82% | 1.37% |
| Aug | 2.75% | -2.80% | -1.71% | 1.39% | 2.77% | 0.90% | 0.55% |
| Sep | -4.97% | -2.11% | -5.14% | 3.65% | 4.12% | -0.95% | -0.90% |
| Oct | 4.39% | -1.30% | -2.24% | -0.23% | 1.37% | 0.53%* | 0.42% |
| Nov | -0.25% | 1.13% | 7.32% | 5.06% | -1.01% | -- | 2.45% |
| Dec | 4.17% | -6.48% | 3.14% | -4.51% | -0.86% | -- | -0.91% |
| Total | 19.20% | -24.86% | 14.94% | 17.06% | 22.63% | 3.17% | 8.69% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $41.89
SMA 50: $42.12
SMA 200: $40.44
Current: $41.90
EMA 12: $41.79
EMA 26: $41.90
MACD: -0.1103 | Signal: -0.0390
BEARISH
ADX (14): 11.62
RANGE
+DI: 25.35
−DI: 30.75
Momentum Oscillators
RSI (14): 49.97
NEUTRAL
Stoch %K: 31.54
Stoch %D: 23.40
Williams %R: -50.35
Volume & Volatility
BB Upper: $42.62
BB Lower: $41.16
NEUTRAL
OBV: 1,299,713
Vol SMA 20: 6,500
Vol ROC: -68.05%
ATR: $0.40
True Range: $0.40
HV 20: 13.5%
HV 30: 13.9%
HV 60: 15.2%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
Here is the comprehensive stock analysis report for SPD:
Executive Summary
BULLISH/BEARISH: NEUTRAL (6/10)
Key Drivers:
- Bullish MACD signal
- Recent neutral sentiment in news headlines
Primary Risks:
- High volatility regime
- Beta equals market, indicating amplification of market moves
Investment Thesis: SPD appears to be stuck in a range-bound environment with recent neutral news sentiment. The bullish MACD signal suggests potential for an upside breakout. However, high volatility and beta equal to the market indicate amplified price movements, which may pose risks.
Recent News Sentiment Impact: Neutral, no significant impact on stock price
Technical Analysis
Trend Direction: NEUTRAL (short-term), RANGE-BOUND (medium-term), BEARISH (long-term)
Support/Resistance Levels: Key levels are the upper Bollinger Band ($43.20) and the lower Bollinger Band ($41.73). Price is currently sitting at $42.46, just above the middle band.
Momentum Signals:
- RSI: 45.86 (neutral)
- MACD: Bullish signal
- Bollinger Bands: Neutral
Volume Analysis: Volume rate of change is 168.57%, indicating increased trading activity.
News & Sentiment Analysis
Recent Headlines Summary: The news headlines analyzed are neutral, providing no significant catalysts for the stock price movement.
Sentiment Assessment: NEUTRAL
Catalyst Identification: None identified in recent headlines.
Market Narrative: The market is currently moving with SPD's beta, amplifying its movements. Recent neutral sentiment may not be enough to break through the range-bound environment.
Risk & Volatility Assessment
Risk Interpretation: Beta equals market (1.00), indicating amplified price movements.
Volatility Regime: High volatility regime, indicated by high True Range and Average True Range values.
Options Market Signals:
- IV Rank: 5.6% (Low)
- Current IV: 24.0%
- Expected Move: $2.77 (37 DTE)
Market Context & Positioning
Sector Performance: SPD is trading within its sector's range, indicating no significant performance difference.
Institutional Activity: No unusual institutional activity detected.
Correlation Analysis: R-squared value indicates a strong positive correlation with the market, supporting the beta analysis.
Relative Valuation: SPD is currently trading near the upper Bollinger Band, indicating a relatively high valuation.
Key Levels & Action Items
Critical Price Levels:
- Upper Bollinger Band: $43.20 (resistance)
- Middle Bollinger Band: $42.46 (support)
- Lower Bollinger Band: $41.73 (support)
Breakout/Breakdown Levels: Price needs to break through the upper or lower Bollinger Bands to initiate a significant move.
Time-Sensitive Catalysts: None identified in recent headlines or earnings information.
Risk Management: Consider stop-loss levels at key price levels, such as the middle and lower Bollinger Bands. Position sizing considerations should be based on volatility and beta.
Please note that this analysis is intended to provide insights into SPD's technical and fundamental performance, rather than offering buy/sell advice.
Generated
News
All SPD news →
Seeking AlphaT3·33mo ago
Seeking AlphaT3·42mo ago
Seeking AlphaT3·45mo ago
Seeking AlphaT3·54mo ago
Zacks Investment ResearchT3·56mo ago
SPD Options Activity & IV Rank
SPD IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 17.3%
7-DTE IV: —
Expected Move: $2.33
7-DTE Move: $2.33
Days to Exp: 30 (2026-11-20)
Options Flow
Call Volume: 0
Put Volume: 0
P/C Volume: —
Call OI: 0
Put OI: 0
P/C OI: —
Total OI: 0
ATM Options Pricing
ATM Call: $1.15
ATM Put: $1.18
Call %: 2.7%
Put %: 2.8%
Chain Summary
Chain Volume: 0
Chain OI: 0
Last Updated: 10/21/2026
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
as of Oct 21 · No data
30 DTE / 10d
—
—
pts
EXTREME
as of Oct 21 · ATM 18.4% / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)6.1LowOct 21
Straddle Price (30 DTE)$2.33Oct 21
Beta Analysis
Risk Metrics
Beta: 1.0175
Alpha: -8.46%
Correlation: 0.9429
R-Squared: 88.9%
Stock Volatility: 13.7%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Above average volatility - stock moves with market amplification
Above average volatility - stock moves with market amplification
Beta & Alpha Over Time
SPD Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
|---|
| # | Filer | Notional Value | % of Total | Period |
|---|
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
2.15K
SI % of Float
—
Days to Cover
1.00
Short Vol Ratio
35.7%
Free Float
—
Float %
—
Short interest 2026-09-30 • Short volume 2026-10-21
SPD Constituent Performance
Click any bar to view the full quote for that stock.
SPD Constituents (1 of 1)
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| IVV | ISHARES TRUST | 95.48% | $776.65 | +0.56% | +0.46% | +0.71% |