Simplify Propel Opportunities ETF
SURI
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- Simplify Propel Opportunities ETF (SURI) is an actively managed exchange-traded fund that seeks long-term capital growth by investing primarily in securities of companies within the biotechnology, pharmaceuticals, healthcare technology, and life science tools and services industries, which are concentrated within the broader healthcare sector. The fund employs an opportunistic multi-asset strategy focused on common stocks, preferred stocks, convertible bonds, structured notes, corporate notes and bonds, and exchange-traded funds investing in these security types; it may allocate up to 20% of its portfolio to derivatives including equity, treasury, commodity, and others to protect or enhance returns. Sub-advised by Propel Bio Management LLC, which applies deep scientific and commercial expertise to identify overlooked opportunities in health sciences, SURI targets issuers with compelling scientific propositions, high probability of product success, and strong profit potential, with no restrictions on currency, market capitalization, country, credit quality, or maturity. The fund, domiciled in the United States and listed on NYSE Arca, was launched on February 7, 2023, and is issued by Simplify Exchange Traded Funds, a series managed by Simplify Asset Management Inc., headquartered in New York. Simplify Asset Management serves as the investment adviser responsible for trade execution, regulatory oversight, and the derivatives overlay, while Propel handles security selection. SURI operates globally with exposure to U.S. and non-U.S. equities and bonds, including holdings in regions such as the United States (primary), Canada, the United Kingdom, and the Eurozone; its portfolio is non-diversified, with top five holdings comprising over 62% including Plains GP Holdings LP, Akero Therapeutics Inc., Milestone Pharmaceuticals Inc., Phathom Pharmaceuticals Inc., and Abeona Therapeutics Inc. Recent developments include the appointment of Jeffrey Schwarte as an additional portfolio manager effective November 1, 2024, joining David Berns, Leen Kawas, and Xue Hua to bolster equity strategy and product innovation amid Simplify's ongoing ETF expansions. Simplify Asset Management announced estimated capital gains distributions for SURI and several sister funds in December 2025, reflecting portfolio rebalancing and performance in a volatile healthcare environment. The firm has pursued strategic growth through new ETF launches, such as the CTAP ETF combining large-cap U.S. equities with managed futures and the Ancorato Target 25 Distribution ETF, signaling broader innovation in outcome-oriented strategies while maintaining SURI's health sciences focus.