Simplify Piper Sandler US Small-Cap PLUS Income ETF

The Simplify Simplified Small Cap Fund is an actively managed exchange-traded fund designed to provide diversified exposure to U.S. small-cap equities while also seeking monthly income. The fund utilizes a multi-step strategy that begins with a broad universe of around 2,000 small-cap companies, systematically filtering out the least liquid names. Guided by Piper Sandler as subadvisor, the fund applies a proprietary, macro-driven factor model that continuously evaluates economic indicators to identify around 200 small-cap stocks best positioned for the prevailing business cycle. Key factors considered in portfolio construction include value, sales stability, earnings growth, profitability, and earnings revisions. In addition to its equity holdings, the Simplify Simplified Small Cap Fund overlays a risk-managed options strategy, predominantly selling put spreads on a variety of underlying assets such as equity, fixed income, and commodity indices or ETFs. This options component provides additional income potential without capping the portfolio's upside—a distinctive contrast to covered call strategies. The fund’s approach aims to balance growth, income, and volatility management, positioning it as a versatile solution for investors seeking both the capital appreciation opportunities of small-cap stocks and supplemental income streams in a single investment vehicle.