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CDX - Simplify High Yield Plus Credit ETF

Simplify High Yield Plus Credit ETF logoSimplify High Yield Plus Credit ETF (CDX) is an actively managed exchange-traded fund (ETF) that seeks to provide investors with high yield, high quality income and capital appreciation potential. The fund invests primarily in a diversified portfolio of below-investment-grade corporate bonds and other income-producing securities.

The ETF is managed by Simplify Asset Management, a firm founded in 2020 by Paul Kim, who previously served as co-founder and chief investment officer of ETF issuer IndexIQ. Simplify Asset Management seeks to provide innovative solutions to investors by simplifying complex investment strategies.

As of March 23, 2023, the fund had total net assets of approximately $16.3 million and held 86 positions. The top holdings of the fund were in the energy, healthcare, and technology sectors, with the largest individual holdings being 5.06% in a bond issued by Altice Luxembourg SA and 3.97% in a bond issued by Frontier Communications Corp.

The fund has an expense ratio of 0.45%, which is in line with other actively managed high-yield bond ETFs. CDX offers monthly dividends and has a distribution yield of 5.5% as of March 23, 2023. The fund has a duration of 3.64 years, indicating moderate interest rate sensitivity.

Investors considering CDX should be aware that the fund invests in below-investment-grade corporate bonds, which are generally considered to be high risk. These bonds may be subject to default or credit rating downgrades, which could result in a decline in the value of the fund. The fund may also be affected by changes in interest rates, inflation, and other economic factors. As with all investments, it is important to carefully consider the risks and potential rewards before investing in CDX.




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