SPYC – Simplify US Equity PLUS Convexity ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks long-term capital appreciation. The adviser seeks to achieve the fund's investment objective by investing primarily in equity securities of U.S. companies and applying a convexity option overlay strategy to the equity investments. Under normal circumstances, it invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of U.S. companies, primarily by purchasing exchange-traded funds ("ETFs"). The option overlay consists of purchasing exchange-traded and over the counter ("OTC") put and call options on the S&P 500 Index or an S&P 500 Index ETF.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
SPYC	Simplify US Equity PLUS Convexity ETF	ETF	Open			Sep 3, 2020	$82.79M	0.530%	—	—	−$19.42M

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