Simplify Ancorato Target 25 Distribution ETF

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.

1. Other Expenses are estimated for the Fund’s initial fiscal year. 
2. Acquired Fund Fees and Expenses, which are estimated for the Fund’s initial fiscal year, are the indirect costs of investingin other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund’sfinancial highlights because the financial statements include only the direct operating expenses incurred by the Fund.