Enables sphingomyelin phosphodiesterase activity. Involved in several processes, including fatty acid homeostasis; positive regulation of intestinal cholesterol absorption; and regulation of membrane lipid metabolic process. Predicted to be located in Golgi apparatus and microvillus. Predicted to be integral component of plasma membrane. Orthologous to human ENPP7 (ectonucleotide pyrophosphatase/phosphodiesterase 7). [provided by Alliance of Genome Resources, Apr 2022]