ETF Evaluator:
Simplify Hedged Equity ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Equity Hedged Over the Last Year
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| 28.0% | Alpha Architect Global Factor Equity ETF (AAVM) |
| 26.2% | Innovator U.S. Small Cp Mgd Flr ETF (RFLR) |
| 23.7% | Rareview Systematic Equity ETF (RSEE) |
| 20.9% | Hull Tactical US ETF (HTUS) |
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ETF Details
Simplify Hedged Equity ETF Overview
Simplify Hedged Equity ETF (HEQT) is an actively managed Nontraditional Equity Equity Hedged exchange-traded fund (ETF). Simplify Asset Management launched the ETF in 2021.
The investment seeks long-term capital appreciation.
The adviser seeks to achieve the fund’s investment objective by investing primarily in equity securities and applying an option overlay known as a “put/spread collar” strategy. Under normal circumstances, it invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities, primarily by purchasing exchange-traded funds (“ETFs”) that seek to track the investment results of the S&P 500 Index. The fund typically invests at least 80% of the fund’s portfolio in underlying ETFs.
About Simplify Hedged Equity ETF (HEQT)
There are 3 members of the management team with an average tenure of 3.19 years: Ken Miller (2023), David Berns (2021) and Jeffrey Schwarte (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Bloomberg US EQ:FI 60:40 TR USD index with a weighting of 100%. Simplify Hedged Equity ETF has 11 securities in its portfolio. The top 10 holdings constitute 101.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Simplify Hedged Equity ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. Simplify Hedged Equity ETF has 0.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.3% There is 0.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Simplify Hedged Equity ETF has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $296 million in total assets, which is above the $294 million average for the Equity Hedged 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.
HEQT 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 Hedged Equity ETF expense ratio is average compared to funds in the Equity Hedged category. Simplify Hedged Equity ETF has an expense ratio of 0.43%, which is 44% lower than its category average, making the fund expense ratio grade a A. 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 Hedged Equity ETF has a portfolio turnover rate of 5%, which indicates that it holds its assets around / 0.2 years. By way of comparison, the average portfolio turnover is 97% for the Equity Hedged category.
Recently, in the month of July 2026, Simplify Hedged Equity ETF returned 0.6%, which earned it a grade of B, as the Equity Hedged category had an average return of -1.4%. 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 Hedged Equity ETF has a trailing yield of 1.19%, which is below the 3.45% category average.
The fund normally distributes its income quarterly 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 Hedged Equity ETF Grades
Year to date, the ETF has returned 5.8%, 1.4 percentage points worse than the category, which translates into a grade of D. The fund has returned 12.0% over the past year (grade of D) and 12.6% over the past three years (grade of C).
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HEQT 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 |
|
| HEQT Return (NAV) | 0.6% | 2.5% | 12.0% | 12.6% | na | na |
| HEQT Return (Price) | 0.4% | 2.6% | 12.0% | 12.6% | na | na |
| NAV +/- Price Return | 0.167% | -0.167% | -0.012% | 0.036% | na | na |
| Equity Hedged Avg | -1.4% | 1.7% | 13.6% | 12.0% | 6.6% | 7.6% |
| HEQT Grade (NAV) | B | B | D | C | na | na |
| +/- Category (NAV) | 2.0% | 0.8% | -1.5% | 0.6% | na | na |
| HEQT Tax-Cost Ratio | na | na | 0.5% | 0.9% | na | na |
HEQT Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| HEQT Return (NAV) | 5.8% | 10.1% | 18.3% | 16.7% | -8.4% | na | na | na | na | na | na |
| HEQT Return (Price) | 5.7% | 10.1% | 18.3% | 16.6% | -8.2% | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.005% | 0.000% | -0.001% | -0.008% | -0.018% | na | na | na | na | na | na |
| Equity Hedged Avg | 7.1% | 12.6% | 14.6% | 14.8% | -12.9% | 15.6% | 10.2% | 9.9% | -6.3% | 12.2% | 3.0% |
| HEQT Grade (NAV) | D | D | C | B | B | na | na | na | na | na | na |
| +/- Category | -1.4% | -2.5% | 3.7% | 1.9% | 4.4% | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.56 |
| R-Squared: | 92% |
| Standard Deviation: | 7.7% |
| Category Risk Index: | 0.73 |
| Category Risk Rating: | Low |
| Total Risk Index: | 0.63 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 1.2% |
| Total Assets: | $ 296 Mil |
| Share Class Assets: | $ 296 Mil |
| Turnover: | 5.0% |
| Expense Ratio: | 0.43% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US EQ:FI 60:40 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 4.8 years | |||
| Average Tenure: 3.2 years | |||
| Managers (Year): Berns David (2021), Miller Ken (2023), Schwarte Jeffrey (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 11 |
| % in Top 10 Holdings: | 101.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.5% |
Portfolio Allocation |
|
| Domestic Stock: | 99.3% |
| Foreign Stock: | 0.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Simplify Asset Management |
| Phone Number: | 855-772-8488 |
| Website: | |
| Inception Date: | November 1, 2021 |
Expenses and Fees
| Expense Ratio (%): | 0.43% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.76% |
