TYA

Simplify Intermediate Term Treasury Futures Strategy ETF

as of 09/27/2023

NAV

$ 12.52

NAV Change

- $ 0.23 /1.80%

Price

$ 12.58

Price Change

- $ 0.18 /1.41%

The Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) seeks to provide total return, before fees and expenses, that matches or outperforms the performance of the ICE US Treasury 20+ Year Index on a calendar quarter basis. The Fund does not seek to achieve its stated investment objective over a period of time different than a full calendar quarter.

The fund looks to target the duration of the ICE 20+ Year US Treasury Index by investing in Treasury futures in the intermediate portion of the curve using 10-Year US Treasury futures contracts. The fund is designed to provide significant duration from only a modest capital allocation while simultaneously attempting to harvest yield curve efficiencies from the belly of the curve.

The fund can be used as a replacement for less efficient long duration holdings, as a means of increasing capital efficiency of intermediate duration portfolio allocations, or as a building block within innovative portfolio solutions such as risk parity.

Fund Overview

As of 09/27/2023

Ticker Symbol

TYA

Gross Expense Ratio

0.25%

Net Expense Ratio

0.15%

CUSIP

82889N798

Total Assets

$47,244,206.22

Shares Outstanding

3,775,001

Distribution Yield as of 08/31/2023 Distribution yield calculation employs the most recent distribution, and multiplies the payment by 12 (monthly) or 4 (quarterly) to get an annualized total. The annualized total is then divided by the most recent net asset value (NAV) to determine the distribution yield.

4.29%

Distribution Frequency

Monthly

SEC 30-Day Yield as of 08/31/2023 SEC 30-day Yield is available once fund has a full quarter of performance.

SEC 30-Day Yield Close

SEC 30-day Yield is available once fund has a full quarter of performance.

4.90%

Unsubsidized 30-Day SEC Yield as of 08/31/2023

4.80%

Portfolio Duration

21.66

Options Available

Inception Date

09/27/2021

Premium/Discount (%) as of 09/27/2023

0.52%

NAV Per Share as of 09/27/2023

$12.52

Market Price as of 09/27/2023

$12.58

30-Day Median Bid-Ask Spread

0.14%

Bid/Ask

$12.56/$12.58

Midpoint Price

$12.57

Volume

54,649

NAV Symbol

TYA.NV

IOPV Symbol

TYA.IV

Shares Out. Symbol

TYA.SO

Schedule K-1

The Fund’s adviser has contractually agreed, until at least October 31, 2023, to waive its management fees and/or pay certain expenses, in order to limit specified expenses to 0.15% of the Fund’s average daily net assets.

Management Fees

This table describes the fees and expenses that you may pay if you buy, sell, and hold shares of the Fund. Investors purchasing or selling shares of the Fund in the secondary market may be subject to costs (including customary brokerage commissions) charged by their broker. The fee table located in the prospectus and updates in prospectus supplements prevail.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees	0.25%
Distribution and Service (12b-1) Fees	0.00%
Other Expenses	0.00%
Total Annual Fund Operating Expenses	0.25%
Fee Waiver and Reimbursement¹	(0.10)%
Total Annual Fund Operating Expenses After Fee Waiver	0.15%

1. The Fund’s adviser has contractually agreed, until at least October 31, 2023, to waive its management fees and/or pay or absorb the Fund’s expenses, in order to limit the amount of “Specified Expenses” borne by the Fund to 0.15% of the Fund’s average daily net assets. “Specified Expenses” means all ordinary operating expenses of the Fund, except for interest expenses, taxes, brokerage expenses, Rule 12b-1 fees (if any), acquired fund fees and expenses, and expenses incidental to a meeting of the Fund’s shareholders. The fee waiver is subject to recoupment if such recoupment can be achieved within the lesser of the foregoing expense limits or those in place at the time of recapture. Any waived fees may only be recouped within three years from the date when the amount was waived or reimbursed. This agreement may be terminated only by the Trust’s Board of Trustees on 60 days’ written notice to the Fund’s adviser.

Fund Performance

As of 08/31/2023 06/30/2023

Monthly Quarterly

Cumulative	1 Month	3 Month	6 Month	YTD	1 Year	Since Inception
NAV	-2.16%	-9.82%	-3.33%	-5.92%	-16.79%	-41.32%
Market Price	-2.46%	-9.87%	-3.57%	-5.51%	-16.35%	-41.45%
ICE US Treasury 20+ Year Bond Index TR	-3.12%	-5.32%	-3.29%	-1.72%	-11.36%	-31.04%

Annualized	1 Year	3 Year	Since Inception
NAV	-16.79%	—	-24.18%
Market Price	-16.35%	—	-24.30%

Cumulative	1 Year	Since Inception
NAV	-16.61%	-38.68%
Market Price	-16.37%	-38.74%

Annualized	1 Year	3 Year	5 Year	Since Inception
NAV	-16.61%	—	—	-24.31%
Market Price	-16.37%	—	—	-24.38%

The performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is available above.

NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day.

Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.

Historical Premium/Discount

	Calendar Year 2022	2nd Quarter of 2023
Days Traded at Premium	120	37
Days Traded at Discount	131	25

The above frequency distribution chart presents information about the difference between the daily market price for shares of the Fund and the Fund's reported Net Asset Value. The amount that the Fund's market price is above the reported NAV is called the premium. The amount that the Fund's market price is below the reported NAV is called the discount. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 p.m. EST). The horizontal axis of the chart shows the premium or discount expressed in basis points. The vertical axis indicates the number of trading days in the period covered by the chart. Each bar in the chart shows the number of trading days in which the Fund traded within the premium/discount range indicated.

Portfolio Holdings

As of 09/27/2023

Ticker	Name	Quantity	Weight
TYZ3 COM	US 10YR NOTE (CBT)DEC23	1661	378.22%
T Bills	B 10/03/23	24699000	52.24%
T Bills	B 12/19/23	22041000	46.09%
-	Estimated Cash	4767996	10.09%

Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date	Record Date	Payable Date	Ordinary Income	Short Term Capital Gains	Long Term Capital Gains	Return of Capital	Total Distribution
08/28/2023	08/29/2023	08/31/2023	$0.05000	$0.00000	$0.00000	$0.00000	$0.05000
07/26/2023	07/27/2023	07/31/2023	$0.05000	$0.00000	$0.00000	$0.00000	$0.05000
06/27/2023	06/28/2023	07/03/2023	$0.05000	$0.00000	$0.00000	$0.00000	$0.05000
05/25/2023	05/26/2023	05/31/2023	$0.05000	$0.00000	$0.00000	$0.00000	$0.05000
04/25/2023	04/26/2023	04/28/2023	$0.05000	$0.00000	$0.00000	$0.00000	$0.05000

View Distribution History

DISTRIBUTION CALENDAR

NAV

NAV Change

Price

Price Change

Documents

SEC 30-Day Yield Close

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TYA

Simplify Intermediate Term Treasury Futures Strategy ETF

NAV

NAV Change

Price

Price Change

Documents

Fund Overview

Distribution Yield Close

SEC 30-Day Yield Close

The Fund’s adviser has contractually agreed, until at least October 31, 2023, to waive its management fees and/or pay certain expenses, in order to limit specified expenses to 0.15% of the Fund’s average daily net assets.

Management Fees

Fund Performance

Historical Premium/Discount

Portfolio Holdings

Holdings are subject to change without notice.

Recent Distributions

Register for Simplify's Investor Hub