ETF Evaluator:
Simplify Multi-QIS Alternative 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 Multi-QIS Alternative ETF Overview
Simplify Multi-QIS Alternative ETF (QIS) is an actively managed Alternative Multistrategy exchange-traded fund (ETF). Simplify Asset Management launched the ETF in 2023.
The investment seeks to provide positive absolute returns and income.
The fund is an actively managed ETF that seeks to achieve its investment objective by investing, primarily through total return swaps, in a diversified portfolio of third-party quantitative investment strategies across equities, interest rates, commodities, and currencies. The swaps provide returns to the fund that are based on model portfolios generated by the quantitative investment strategies.
About Simplify Multi-QIS Alternative ETF (QIS)
There are 3 members of the management team with an average tenure of 2.62 years: Paisley Nardini (2024), David Berns (2023) and David Jackson (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
Simplify Multi-QIS Alternative ETF has 33 securities in its portfolio. The top 10 holdings constitute 535.4% 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 Multi-QIS Alternative ETF is part of the Alternative Strategies global asset class and is within the Alternative ETF group. Simplify Multi-QIS Alternative ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 5.4% 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 67.6% (67.6% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Simplify Multi-QIS Alternative ETF has 33.3% of the portfolio in cash.
Assets Under Management
The fund has $38 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.
QIS 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 Multi-QIS Alternative ETF expense ratio is high compared to funds in the Multistrategy category. Simplify Multi-QIS Alternative ETF has an expense ratio of 1.21%, which is 65% 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 Multi-QIS Alternative ETF has a portfolio turnover rate of 29%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 100% for the Multistrategy category.
Recently, in the month of July 2026, Simplify Multi-QIS Alternative ETF returned -0.8%, which earned it a grade of D, 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 Multi-QIS Alternative ETF has a trailing yield of 2.01%, which is below the 2.91% 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 Multi-QIS Alternative ETF Grades
Year to date, the ETF has returned -33.3%, 36.2 percentage points worse than the category, which translates into a grade of F. The fund has returned -50.1% over the past year (grade of F) and -24.6% over the past three years (grade of F).
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QIS 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 |
|
| QIS Return (NAV) | -0.8% | -27.2% | -50.1% | -24.6% | na | na |
| QIS Return (Price) | -7.0% | -32.1% | -53.9% | -26.3% | na | na |
| NAV +/- Price Return | 6.207% | 4.881% | 3.777% | 1.709% | na | na |
| Multistrategy Avg | 0.0% | -2.7% | 5.1% | 3.8% | 5.3% | 3.7% |
| QIS Grade (NAV) | D | F | F | F | na | na |
| +/- Category (NAV) | -0.9% | -24.4% | -55.2% | -28.4% | na | na |
| QIS Tax-Cost Ratio | na | na | 0.6% | 1.0% | na | na |
QIS Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| QIS Return (NAV) | -33.3% | -36.9% | -0.2% | na | na | na | na | na | na | na | na |
| QIS Return (Price) | -36.6% | -38.0% | 0.2% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.101% | 0.030% | -2.012% | 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% |
| QIS Grade (NAV) | F | F | F | na | na | na | na | na | na | na | na |
| +/- Category | -36.2% | -39.7% | -6.9% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.54 |
| R-Squared: | 13% |
| Standard Deviation: | 19.3% |
| Category Risk Index: | 2.54 |
| Category Risk Rating: | High |
| Total Risk Index: | 1.58 |
| Total Risk Rating: | Above Average |
| Portfolio Characteristics | |
| Yield: | 2.0% |
| Total Assets: | $ 38 Mil |
| Share Class Assets: | $ 38 Mil |
| Turnover: | 29.0% |
| Expense Ratio: | 1.21% |
| Index Fund: | No |
| Index Tracked: | N/A |
| 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: 3.1 years | |||
| Average Tenure: 2.6 years | |||
| Managers (Year): Berns David (2023), Jackson David (2023), Nardini Paisley (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 33 |
| % in Top 10 Holdings: | 535.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 5.4% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 67.6% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | -6.2% |
| Cash: | 33.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Simplify Asset Management |
| Phone Number: | 855-772-8488 |
| Website: | |
| Inception Date: | July 10, 2023 |
Expenses and Fees
| Expense Ratio (%): | 1.21% (Rating: High) |
| Category Average Expense Ratio (%): | 0.73% |
