Simplify US Small Cap PLUS Downside Convexity ETF
RTYD
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- Simplify US Small Cap PLUS Downside Convexity ETF (RTYD) is an actively managed exchange-traded fund that seeks capital appreciation by tracking the US small-cap equity market while incorporating a systematic options overlay to provide downside convexity during extreme market downturns. The fund invests primarily in a low-cost small-cap index ETF as its core holding, supplemented by a modest allocation to options positions designed to enhance performance in volatile conditions; under normal circumstances, at least 80% of net assets (plus borrowings for investment purposes) are committed to equity securities of US small-capitalization companies and the convexity strategy. It targets investors seeking small-cap exposure with built-in risk mitigation features, operating within the equity size-and-style segment focused on broad-based US small caps. RTYD was launched in January 2022 by Simplify Asset Management Inc., an SEC-registered investment adviser founded in 2020 and headquartered in New York, New York, with recent indications of operations in Las Vegas, Nevada. The ETF trades on US exchanges, providing exposure concentrated in North American assets, predominantly US-based holdings (approximately 99.5%), and serves financial advisors and institutional clients through Simplify's suite of innovative ETFs emphasizing alternative strategies like options overlays. In a significant operational change, the Board of Simplify approved the liquidation of RTYD, with the fund closure announced in April 2023 and shareholder liquidation payments distributed on or about May 5, 2023, rendering the ETF inactive thereafter. Prior to closure, RTYD maintained a portfolio with 100% concentration in its top holdings, including ETF wrappers for small-cap equities and options, alongside modest distributions such as a 2022 annual dividend yield of 1.35%. Simplify Asset Management continues to offer other equity-plus-convexity products and has pursued expansions like new ETF launches and partnerships, such as structured alpha model portfolios, though no specific recent alliances or funding directly tied to RTYD were reported post-launch.