ETF Evaluator:
Simplify Government Money Market ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Money Market-Taxable Over the Last Year
| 3.8% | Simplify Government Money Market ETF (SBIL) |
| 3.7% | Texas Capital Government Mny Mkt ETF (MMKT) |
| 3.7% | Money Market-Taxable () |
| 3.7% | iShares Government Money Market ETF (GMMF) |
| 3.7% | Schwab Government Money Market ETF (SGVT) |
Risk
Index
Risk
Index
ETF Details
Simplify Government Money Market ETF Overview
Simplify Government Money Market ETF (SBIL) is an actively managed Money Market Money Market-Taxable exchange-traded fund (ETF). Simplify Asset Management Inc. launched the ETF in 2025.
The investment seeks current income as is consistent with liquidity and stability of principal.
The fund operates as a “government money market fund” pursuant to Rule 2a-7 under the Investment Company Act of 1940, as amended, and is subject to related restrictions on its portfolio composition. Consequently, the fund invests at least 99.5% of its total assets in (i) cash, (ii) U.S. government securities, and (iii) repurchase agreements fully collateralized by such obligations or cash.
About Simplify Government Money Market ETF (SBIL)
There are 3 members of the management team with an average tenure of 1.05 years: Jason England (2025), David Berns (2025) and Christopher Chua (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
Simplify Government Money Market ETF has 164 securities in its portfolio. The top 10 holdings constitute 29.8% 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 Government Money Market ETF is part of the Capital Preservation global asset class and is within the Money Market ETF group. Simplify Government Money Market 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 32.3% (32.3% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Simplify Government Money Market ETF has 67.7% of the portfolio in cash.
Assets Under Management
The fund has $4 billion in total assets, which is above the $3 billion average for the Money Market-Taxable 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.
SBIL 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 Government Money Market ETF expense ratio is low compared to funds in the Money Market-Taxable category. Simplify Government Money Market ETF has an expense ratio of 0.15%, which is 27% 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 Government Money Market 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 13% for the Money Market-Taxable category.
Recently, in the month of July 2026, Simplify Government Money Market ETF returned 0.3%, which earned it a grade of A, as the Money Market-Taxable 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 Government Money Market ETF has a trailing yield of 3.87%, which is above the 3.66% 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 Government Money Market ETF Grades
Year to date, the ETF has returned 2.1%, 0.1 percentage points better than the category, which translates into a grade of A. The fund has returned 3.8% over the past year (grade of A).
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SBIL 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 |
|
| SBIL Return (NAV) | 0.3% | 0.9% | 3.8% | na | na | na |
| SBIL Return (Price) | 0.3% | 0.9% | 3.8% | na | na | na |
| NAV +/- Price Return | -0.007% | 0.007% | -0.015% | na | na | na |
| Money Market-Taxable Avg | 0.3% | 0.9% | 3.7% | na | na | na |
| SBIL Grade (NAV) | A | A | A | na | na | na |
| +/- Category (NAV) | 0.0% | 0.0% | 0.1% | na | na | na |
| SBIL Tax-Cost Ratio | na | na | 1.6% | na | na | na |
SBIL Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SBIL Return (NAV) | 2.1% | na | na | na | na | na | na | na | na | na | na |
| SBIL Return (Price) | 2.1% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.005% | na | na | na | na | na | na | na | na | na | na |
| Money Market-Taxable Avg | 2.0% | 4.1% | na | na | na | na | na | na | na | na | na |
| SBIL Grade (NAV) | A | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 0.1% | 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: | 3.9% |
| Total Assets: | $ 4,946 Mil |
| Share Class Assets: | $ 4,946 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: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 1.1 years | |||
| Average Tenure: 1.1 years | |||
| Managers (Year): England Jason (2025), Berns David (2025), Chua Christopher (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 164 |
| % in Top 10 Holdings: | 29.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 32.3% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 67.7% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Simplify Asset Management Inc. |
| Phone Number: | 855-772-8488 |
| Website: | |
| Inception Date: | July 14, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.15% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.21% |
