At a glance
NXTI charges 0.25% a year, below the 0.29% average of the 8 funds most like it (the 6th cheapest of 9). It has $40.9M in assets, the 8th largest of that group; it paid 0.65% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +11.9% with distributions reinvested (S&P 500: +11.5%), 8th of those 9 funds. Its ten largest positions make up 34.1% of the fund, out of 201 in all.
The short version
Simplify Next Intangible Core Index ETF (NXTI) tracks the Next Intangible Core Index. The index holds about 200 US stocks chosen because their intangible capital, meaning brands, know-how and organization, is large compared with their book assets. Its main difference from similar funds is that screen, built by Eisfeldt Consulting, along with a 5% cap on any one stock and minimum sector rules. It costs 0.25% a year, far more than broad value funds like VTV at 0.04%.
Price history
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NXTI +11.9% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| NXTI price data to Oct 27, 2026 | +14.1% | +11.9% | — | — | — | +18.9% |
- Over the year to Oct 27, 2026, NXTI returned +11.9%, 8th of 9 among similar funds.
- Its worst full calendar year was 2025 (+16.7%); its best was 2025 (+16.7%).
- The deepest fall in its price history was 19.7% (Feb 18, 2025 to Apr 8, 2025), recovered by Jun 30, 2025.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +14.1% |
| 2025 | +16.7% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.2000 | |
| 2025 | $0.2000 |
What's inside
As of Jun 30, 2026, the fund held 201 securities; the ten largest made up 34.09% of assets.
| Holding | Weight | |
|---|---|---|
| CISCO SYSTEMS INC | 4.85% | |
| WALMART INC | 4.67% | |
| JOHNSON & JOHNSON | 4.01% | |
| INTERNATIONAL BUSINESS MACHINES CORP | 3.45% | |
| PALANTIR TECHNOLOGIES INC | 3.43% | |
| DELL TECHNOLOGIES INC | 3.34% | |
| BERKSHIRE HATHAWAY INC | 3.25% | |
| QUALCOMM INC | 2.47% | |
| SEAGATE TECHNOLOGY HOLDINGS PLC | 2.33% | |
| WESTERN DIGITAL CORP | 2.28% | |
| MERCK & COMPANY INC | 2.25% | |
| MASTERCARD INC | 1.98% | |
| EXXONMOBIL HOLDINGS CORP | 1.80% | |
| SALESFORCE INC | 1.69% | |
| GE AEROSPACE | 1.50% |
By country
United States 94.96%Ireland 3.71%Luxembourg 1.13%By asset type
Stocks 99.8%By sector
Sectors of the companies held, for the 83% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $1K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +5.72%, +10.73%, +0.28%.
How it works
The fund follows the Next Intangible Core Index. Eisfeldt Consulting owns the index, and Solactive calculates it daily. Neither is connected to Simplify. The index starts with the 2,000 largest stocks in the Solactive United States 3000 Index. Eisfeldt's own model then estimates each company's intangible capital, meaning assets you can't touch: brand value, know-how and the way the business is organized. The model uses spending from the income statement, plus goodwill, patents and copyrights from the balance sheet. It divides that estimate by book assets, which are the assets shown on the balance sheet, and compares each company with others in its sector.
The 200 stocks with the highest ratios get in. They start out weighted by market value, so bigger companies get bigger slices. Two rules then apply. No stock can exceed 5%, and any excess is spread across the same sector. The index must also include at least five stocks from each of its 13 sectors, which range from food and consumables to finance. The index is rebuilt every quarter. Portfolio turnover was 34%, according to the prospectus filed October 28, 2025.
Simplify uses full replication, meaning it holds every stock in the index in roughly the same proportions. The fund uses no leverage, options or swaps. As of June 30, 2026, stocks made up 99.8% of assets, with 0.17% in cash and no derivatives. Because the fund is passive, it keeps a lagging stock unless the index drops it.
What it really costs
- NXTI charges 0.25% a year, versus an average of 0.29% for the similar funds below (6th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $26 in the first year and $318 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| NXTI | $26 | $80 | $141 | $318 |
In a retirement portfolio
Its swings have been close to the overall market's, but it rests on one proprietary factor screen, has a short record and is small, so it fits better beside a core fund than in place of one.
NXTI tilts a portfolio toward about 200 US companies built on brands, research and know-how. As of June 30, 2026, its largest holdings were Cisco, Walmart and Johnson & Johnson. Its record is short. The fund launched on April 15, 2024, so it has no results for the 2008, 2020 or 2022 downturns. Its deepest drop was 19.7%, from February 18 to April 8, 2025. It recovered by June 30, 2025, about 2.7 months later. Its only full calendar year, 2025, returned 16.7%. A retiree taking money out during a slump could face a drop like that, with little history to judge how deep or long a bad stretch might be. Income is small: the yield was 0.65% as of October 27, 2026, paid quarterly. The fund costs 0.25% a year. Past results don't predict future returns, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a rules-based US stock fund that leans toward companies rich in brands, research and know-how, with no leverage or options.
- People who want sector balance: the index requires at least five stocks from each of 13 sectors and caps any one stock at 5%.
- Investors who want a small side position to try an academic factor idea and can accept a track record that only starts in April 2024.
Look elsewhere if
- Cost-focused investors: NXTI's 0.25% expense ratio is well above the 0.04% charged by Vanguard Value ETF (VTV) and Schwab U.S. Large-Cap Value ETF (SCHV).
- Income seekers: the yield was just 0.65% as of October 27, 2026, paid quarterly.
- Those who want a large fund with a long record: net assets were about $40.9 million as of June 30, 2026, ranking 8th of 9 among similar funds.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| NXTI this fund | — | 0.25% | $40.9M | +11.9% | — |
| VTV Vanguard Value ETF | 37% | 0.04% | $254.48B | +25.4% | +22.3% |
| WOMN Tidal Trust III YWCA WOMENS EMPOWERMENT ETF | 37% | 0.75% | $55.1M | +11.0% | +18.1% |
| XMAG Defiance Large Cap ex-Mag 7 ETF | 36% | 0.35% | $184.0M | +15.0% | — |
| SCHV Schwab U.S. Large-Cap Value ETF | 33% | 0.04% | $15.67B | +22.4% | +20.3% |
| QARP Xtrackers Russell 1000 US Quality at a Reas… | 31% | 0.19% | $78.2M | +19.4% | +21.9% |
| IWD iShares Russell 1000 Value ETF | 29% | 0.19% | $79.74B | +28.8% | +22.2% |
| VEGN US Vegan Climate ETF | 28% | 0.6% | $177.6M | +24.3% | +29.2% |
Questions investors ask
What does NXTI invest in?
NXTI holds about 200 US stocks that score high on intangible capital (brand, knowledge and organization) compared with book assets, measured within each sector. As of June 30, 2026, it had 201 holdings. The largest were Cisco at 4.9%, Walmart at 4.7%, Johnson & Johnson at 4.0%, IBM, Palantir, Dell and Berkshire Hathaway. Technology made up 33.9% of the fund, and the top 10 holdings made up 34.1%.
What is the NXTI expense ratio?
NXTI's expense ratio is 0.25% a year, according to its prospectus filed October 28, 2025. Under the SEC's standard example, someone who invests $10,000, earns 5% a year and cashes out at the end of each period would pay about $26 after one year, $80 after three, $141 after five and $318 after ten. The average among similar funds is 0.29%, and NXTI ranks 6th of 9 on cost.
NXTI vs VTV: what's the difference?
Both hold large US stocks, and about 37% of their holdings overlap. Vanguard Value ETF (VTV) is a broad value fund that costs 0.04% a year and had about $254.5 billion in net assets as of June 30, 2026. NXTI picks stocks with a proprietary intangible-capital screen, costs 0.25% and had about $40.9 million. VTV returned 25.4% over the year to October 30, 2026. NXTI returned 11.9% over the year to October 27, 2026.
Does NXTI pay dividends?
Yes. NXTI pays dividends every quarter, but the amounts are small. Over the 12 months to October 27, 2026, it paid about $0.24 per share, a yield of 0.65%. The fund is built around an intangible-capital screen, not dividend income. Investors who want meaningful cash flow from their holdings may find it delivers less than income-focused stock funds.
How has NXTI performed since launch?
NXTI has gained since it launched in April 2024, but it trailed most similar funds over the latest year. It returned 16.7% in 2025 and 14.1% in 2026 through October 27. Its one-year return to that date was 11.9%, ranking 8th of 9 among similar funds. Its deepest drop was 19.7%, from February to April 2025, and it recovered by June 30, 2025. With about 2.5 years of history, the record is short.