SPUC Simplify US Equity PLUS Upside Convexity ETF

The adviser seeks to achieve the fund"s investment objective by investing primarily in equity securities ofU. S. companies and applying an upside convexity option overlay strategy to the equity investments.

Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities ofU. S. companies, primarily by purchasing exchange-traded funds ("ETFs").

The upside convexity option overlay strategy consists of purchasing exchange-traded and over the counter ("OTC") call options on the S&P 500 Index or an S&P 500 Index ETF.