ETF Evaluator:
Simplify Currency Strategy ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Single Currency Over the Last Year
| 18.9% | Simplify Currency Strategy ETF (FOXY) |
| 10.4% | Invesco CcyShrs® Australian Dllr Trust (FXA) |
| 3.9% | Invesco CcyShrs® British Pound Stlg (FXB) |
| 3.9% | Single Currency () |
| 1.3% | Invesco CurrencyShares® Euro Currency (FXE) |
Risk
Index
Risk
Index
ETF Details
Simplify Currency Strategy ETF Overview
Simplify Currency Strategy ETF (FOXY) is an actively managed Miscellaneous Single Currency exchange-traded fund (ETF). Simplify Asset Management launched the ETF in 2025.
The investment seeks long term capital appreciation.
The fund is an actively managed exchange-traded fund (“ETF”). The adviser seeks to fulfil the fund’s investment objective by investing primarily in foreign currency forward contracts, foreign currency forward swaps, and foreign currency futures contracts that provide exposure comparable to buying or selling the foreign currencies directly. The fund is non-diversified.
About Simplify Currency Strategy ETF (FOXY)
There are 3 members of the management team with an average tenure of 1.24 years: Ken Miller (2025), David Berns (2025) and Chris Getter (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
Simplify Currency Strategy ETF has 25 securities in its portfolio. The top 10 holdings constitute 96.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Simplify Currency Strategy ETF is part of the Other global asset class and is within the Miscellaneous ETF group. Simplify Currency Strategy ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 36.6% (36.6% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Simplify Currency Strategy ETF has 63.4% of the portfolio in cash.
Assets Under Management
The fund has $362 million in total assets, which is above the $253 million average for the Single Currency category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FOXY Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Simplify Currency Strategy ETF expense ratio is high compared to funds in the Single Currency category. Simplify Currency Strategy ETF has an expense ratio of 0.81%, which is 77% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Simplify Currency Strategy ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 0% for the Single Currency category.
Recently, in the month of July 2026, Simplify Currency Strategy ETF returned -4.6%, which earned it a grade of F, as the Single Currency category had an average return of 0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Simplify Currency Strategy ETF has a trailing yield of 8.79%, which is above the 1.86% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Simplify Currency Strategy ETF Grades
Year to date, the ETF has returned 9.7%, 8.4 percentage points better than the category, which translates into a grade of A. The fund has returned 18.9% over the past year (grade of A).
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FOXY Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FOXY Return (NAV) | -4.6% | -0.1% | 18.9% | na | na | na |
| FOXY Return (Price) | -3.5% | 0.9% | 19.9% | na | na | na |
| NAV +/- Price Return | -1.114% | -1.011% | -0.966% | na | na | na |
| Single Currency Avg | 0.3% | -1.8% | 3.9% | 1.2% | -1.0% | -0.5% |
| FOXY Grade (NAV) | F | A | A | na | na | na |
| +/- Category (NAV) | -4.9% | 1.7% | 15.0% | na | na | na |
| FOXY Tax-Cost Ratio | na | na | 3.5% | na | na | na |
FOXY Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FOXY Return (NAV) | 9.7% | na | na | na | na | na | na | na | na | na | na |
| FOXY Return (Price) | 10.4% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.073% | na | na | na | na | na | na | na | na | na | na |
| Single Currency Avg | 1.3% | 8.8% | -5.8% | 3.9% | -7.8% | -5.0% | 5.8% | 1.5% | -4.8% | 7.3% | -2.7% |
| FOXY Grade (NAV) | A | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 8.4% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 8.8% |
| Total Assets: | $ 362 Mil |
| Share Class Assets: | $ 362 Mil |
| Turnover: | 0.0% |
| Expense Ratio: | 0.81% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 1.5 years | |||
| Average Tenure: 1.2 years | |||
| Managers (Year): Miller Ken (2025), Berns David (2025), Getter Chris (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 25 |
| % in Top 10 Holdings: | 96.8% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 36.6% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 63.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Simplify Asset Management |
| Phone Number: | 855-772-8488 |
| Website: | |
| Inception Date: | February 3, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.81% (Rating: High) |
| Category Average Expense Ratio (%): | 0.46% |
