ETF Evaluator:
Simplify Tax Aware Alternatives ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Multistrategy Over the Last Year
| 16.9% | Franklin Systematic Style Premia ETF (FLSP) |
| 16.3% | First Trust Multi-Strat Alt ETF (LALT) |
| 14.6% | Unlimited HFND Multi-Strgy Ret Trckr ETF (HFND) |
| 14.5% | SEI DBi Multi-Strategy Alternative ETF (QALT) |
| 12.4% | NYLI Hedge Multi-Strategy Tracker ETF (QAI) |
Risk
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Risk
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ETF Details
Simplify Tax Aware Alternatives ETF Overview
Simplify Tax Aware Alternatives ETF (LQ) is an actively managed Alternative Multistrategy exchange-traded fund (ETF). Simplify Asset Management launched the ETF in 2026.
The investment seeks capital appreciation.
The fund is an actively managed exchange-traded fund (“ETF”). The adviser seeks to achieve the fund’s investment object by employing an alternatives investment approach. Alternatives in the fund’s name refers to asset classes other than traditional domestic stocks and bonds, such as those commonly used in balanced fund strategies. It is non-diversified.
About Simplify Tax Aware Alternatives ETF (LQ)
There are 2 members of the management team with an average tenure of 0.24 years: Paisley Nardini (2026) and David Berns (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
Simplify Tax Aware Alternatives ETF has 17 securities in its portfolio. The top 10 holdings constitute 252.0% 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 Tax Aware Alternatives ETF is part of the Alternative Strategies global asset class and is within the Alternative ETF group. Simplify Tax Aware Alternatives 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 84.2% (84.2% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Simplify Tax Aware Alternatives ETF has 22.3% of the portfolio in cash.
Assets Under Management
The fund has $2 million in total assets, which is below the $664 million average for the Multistrategy 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.
LQ 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 Tax Aware Alternatives ETF expense ratio is low compared to funds in the Multistrategy category. Simplify Tax Aware Alternatives ETF has an expense ratio of 0.15%, which is 79% 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 Tax Aware Alternatives 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 100% for the Multistrategy category.
Recently, in the month of July 2026, Simplify Tax Aware Alternatives ETF returned 0.2%, which earned it a grade of B, as the Multistrategy category had an average return of 0.0%. 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 Tax Aware Alternatives ETF has a trailing yield of 0.00%, which is below the 2.91% category average.
The fund normally distributes its income annually 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.
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LQ 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 |
|
| LQ Return (NAV) | 0.2% | na | na | na | na | na |
| LQ Return (Price) | 0.1% | na | na | na | na | na |
| NAV +/- Price Return | 0.091% | na | na | na | na | na |
| Multistrategy Avg | 0.0% | -2.7% | 5.1% | 3.8% | 5.3% | 3.7% |
| LQ Grade (NAV) | B | na | na | na | na | na |
| +/- Category (NAV) | 0.1% | na | na | na | na | na |
| LQ Tax-Cost Ratio | na | na | na | na | na | na |
LQ Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| LQ Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| LQ Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Multistrategy Avg | 2.9% | 2.8% | 6.7% | 6.5% | -5.8% | 4.8% | -0.6% | 9.0% | -3.7% | 5.9% | 1.5% |
| LQ Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | 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: | -- |
| Total Assets: | $ 2 Mil |
| Share Class Assets: | $ 2 Mil |
| Turnover: | na |
| Expense Ratio: | 0.15% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 0.2 years | |||
| Average Tenure: 0.2 years | |||
| Managers (Year): Nardini Paisley (2026), Berns David (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 17 |
| % in Top 10 Holdings: | 252.0% |
| 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: | 84.2% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | -6.5% |
| Cash: | 22.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Simplify Asset Management |
| Phone Number: | 855-772-8488 |
| Website: | |
| Inception Date: | May 4, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.15% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.73% |
