Simplify Next Intangible Value Index ETF

Simplify Next Intangible Value Index ETF (NXTV) tracks the Next Intangible Value Index: 200 US stocks that look cheap against sector peers once brands, know-how and other intangibles are added to their balance-sheet value. It may suit investors who think standard accounting undervalues companies built on ideas and brands. The catches: net assets were just $1.3 million as of March 31, 2025, and its 0.25% fee tops the 0.22% average of similar funds.

• Over the year to Oct 27, 2026, NXTV returned -0.3%, 9th of 9 among similar funds.
• Its worst full calendar year was 2025 (+1.7%); its best was 2025 (+1.7%).
• The deepest fall in its price history was 17.8% (Nov 25, 2024 to Apr 8, 2025), not yet recovered.

As of Mar 31, 2025, the fund held 201 securities; the ten largest made up 34.09% of assets.

By sector

• Over the three months to Mar 31, 2025, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +3.38%, +1.33%, -3.14%.

NXTV aims to track the Next Intangible Value Index, which Eisfeldt Consulting owns and Solactive calculates. The index starts with the 2,000 largest stocks in the Solactive United States 3000 Index. Eisfeldt Consulting's proprietary model estimates each company's intangible capital: productive assets with no physical form, namely brand, knowledge and organization capital. It draws on income statement spending, goodwill and items such as patents, then uses the estimate to adjust book value, a company's net worth on its balance sheet.

The index then picks the 200 stocks that look cheapest against that adjusted book value, compared with sector peers. It weights them by company size (market value), caps each at 5% and spreads any excess across the rest of that sector. Each of 13 custom sectors, from food and consumables to finance, must include at least five stocks where possible. The lineup is refreshed every quarter.

Simplify uses full replication, meaning the fund generally owns every index stock in about the same proportions. As of March 31, 2025, it held 201 positions, no derivatives and essentially no cash. The prospectus reports portfolio turnover of 65%, a rough measure of how much of the portfolio changed over a year. Trading costs from turnover come out of returns but are not part of the 0.25% expense ratio.

• NXTV charges 0.25% a year, versus an average of 0.22% for the similar funds below (7th 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).

It is a tiny, newer fund making a narrow value bet, with no distributions in the year to October 27, 2026, and a 17.8% drop it had not recovered by then.

NXTV could add a different style of value investing next to a broad stock fund, tilting toward cheap-looking companies such as AT&T, Verizon and Pfizer as of March 31, 2025. Launched in April 2024, it has no record in the 2008 crisis, the 2020 COVID crash or the 2022 bear market. Its only full calendar year, 2025, brought a gain of about 1.7%. Its deepest drop was 17.8%, from November 25, 2024, to April 8, 2025, and it had not regained that peak as of October 27, 2026. It paid no distributions in the 12 months to that date, so cash needed in a slump would have to come from selling shares. It charges 0.25% a year, or $318 over 10 years on $10,000 in the SEC's standard example. Past results don't predict the future, and a retirement plan needs to weigh the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.