- Issuer
- Simplify
- Inception Date
- Sep 9, 2024
- Region
- North America (U.S.)
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $48M
Share Price Chart
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Performance
NMB Performance Chart
Simplify National Muni Bond ETF (NMB) is up 1.1% since the beginning of the year. NMB is currently trading at $25 per share.
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Returns By Period
Simplify National Muni Bond ETF (NMB) has returned 1.10% so far this year and 6.16% over the past 12 months.
Simplify National Muni Bond ETF
- 1D
- -0.48%
- 1M
- 1.67%
- YTD
- 1.10%
- 6M
- 1.55%
- 1Y
- 6.16%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.50%
- 1M
- 0.31%
- YTD
- 8.56%
- 6M
- 8.85%
- 1Y
- 24.33%
- 3Y*
- 19.37%
- 5Y*
- 11.84%
- 10Y*
- 13.61%
NMB Monthly Returns History
Based on dividend-adjusted daily data since Sep 10, 2024, NMB's average daily return is +0.02%, while the average monthly return is +0.36%. At this rate, an investment would double in approximately 16.1 years.
Historically, 59% of months were positive and 41% were negative. The best month was Apr 2025 with a return of +8.6%, while the worst month was Mar 2025 at -4.6%. The longest winning streak lasted 3 consecutive months, and the longest losing streak was 3 months.
On a daily basis, NMB closed higher 51% of trading days. The best single day was Apr 9, 2025 with a return of +7.3%, while the worst single day was Apr 8, 2025 at -5.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.44% | 0.51% | -1.92% | 2.12% | 0.58% | 0.29% | 1.10% | ||||||
| 2025 | 1.29% | -2.36% | -4.64% | 8.60% | 0.67% | 2.17% | -4.48% | 1.33% | 5.56% | 2.22% | -0.96% | -0.90% | 7.97% |
| 2024 | 0.82% | -1.88% | 3.72% | -4.44% | -1.96% |
Benchmark Metrics
Simplify National Muni Bond ETF has an annualized alpha of -1.92%, beta of 0.35, and R2 of 0.21 versus S&P 500 Index. Calculated based on daily prices since September 10, 2024.
- This ETF participated in 40.45% of S&P 500 Index downside but only 23.60% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.35 may look defensive, but with R2 of 0.21 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.21 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -1.92%
- Beta
- 0.35
- R²
- 0.21
- Upside Capture
- 23.60%
- Downside Capture
- 40.45%
Expense Ratio
NMB has an expense ratio of 0.52%, placing it in the medium range.
Return for Risk
Risk / Return Rank
NMB ranks 20 for risk / return — in the bottom 20% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Simplify National Muni Bond ETF (NMB) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NMB | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.34 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 2.53 | -1.69 |
| Martin ratioReturn relative to average drawdown | 1.69 | 11.37 | -9.68 |
Dividends
Dividend History
Simplify National Muni Bond ETF provided a 5.87% dividend yield over the last twelve months, with an annual payout of $1.45 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $1.45 | $1.12 | $0.27 |
Dividend yield | 5.87% | 4.48% | 1.13% |
Monthly Dividends
The table displays the monthly dividend distributions for Simplify National Muni Bond ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.14 | $0.13 | $0.12 | $0.12 | $0.08 | $0.00 | $0.59 | ||||||
| 2025 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.30 | $0.00 | $0.15 | $0.15 | $1.12 |
| 2024 | $0.27 | $0.27 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Simplify National Muni Bond ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Simplify National Muni Bond ETF was 13.68%, occurring on Apr 8, 2025. Recovery took 23 trading sessions.
The current Simplify National Muni Bond ETF drawdown is 1.69%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -13.68%Apr 2025 | 3mo 29d | 1mo 4d | 5mo 3dDec 2024 - May 2025 |
2025 pullback2025 | -7.26%Jul 2025 | 2mo 17d | 2mo 15d | 5mo 2dMay 2025 - Oct 2025 |
2026 pullback2026 | -5.49%Mar 2026 | 4mo 26d | — | 7mo 19dOct 2025 - now |
2024 pullback2024 | -3.24%Oct 2024 | 21d | 1mo 3d | 1mo 24dOct 2024 - Nov 2024 |
2025 pullback2025 | -0.57%Oct 2025 | 2d | 1d | 3dOct 2025 - Oct 2025 |
Drawdown Indicators
| NMB | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.68% | -56.78% | +43.10% |
Max Drawdown (1Y)Largest decline over 1 year | -5.99% | -9.10% | +3.11% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.69% | -2.34% | +0.65% |
Average DrawdownAverage peak-to-trough decline | -3.32% | -10.72% | +7.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.97% | 2.02% | +0.95% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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