Net Asset Value Restatement for Simplify Interest Rate Hedge ETF (PFIX)

Rhea-AI Summary

Simplify Asset Management has announced a restatement of the net asset value (NAV) per share for the Simplify Interest Rate Hedge ETF (PFIX). The adjustment affects the NAV values from February 25 to March 7, 2025, and became effective on March 11, 2025. The restatement was necessary due to a delay in posting swaption trade settlement proceeds.

Positive

• None.

Negative

• NAV restatement indicates operational issues in trade settlement processing

NEW YORK--(BUSINESS WIRE)-- Simplify Asset Management Inc. announces that the previously disclosed net asset value (NAV) per share of the Simplify Interest Rate Hedge ETF (NYSE Arca: PFIX) from February 25 to March 7, 2025 has been restated effective March 11, 2025, as follows:

ETF Name	Ticker (NYSE Arca)	Date	Revised	Original	Adjustment
Simplify Interest Rate Hedge ETF	PFIX	2/25/25	47.77	47.10	1.42%
		2/26/25	46.47	45.80	1.46%
		2/27/25	47.84	47.17	1.42%
		2/28/25	47.75	47.08	1.42%
		3/1/25	47.75	47.08	1.42%
		3/2/25	47.75	47.08	1.42%
		3/3/25	45.91	45.23	1.51%
		3/4/25	46.90	46.17	1.58%
		3/5/25	48.76	48.03	1.52%
		3/6/25	49.11	48.38	1.50%
		3/7/25	49.87	49.15	1.48%

The NAV adjustment is a result of the delayed posting of a swaption trade settlement proceeds.

ABOUT SIMPLIFY ASSET MANAGEMENT INC

Simplify Asset Management Inc. is a Registered Investment Adviser founded in 2020 to help advisors tackle the most pressing portfolio challenges with an innovative set of options-based strategies. By accounting for real-world investor needs and market behavior, along with the non-linear power of options, our strategies allow for the tailored portfolio outcomes for which clients are looking. For more information, visit www.simplify.us.

Investors should carefully consider the investment objectives, risks, charges, and expenses of Exchange Traded Funds (ETFs) before investing. To obtain an ETF's prospectus or Summary prospectus containing this and other important information, please call (855) 772-8488, or visit SimplifyETFs.com. Please read the prospectus carefully before you invest.

An investment in the fund involves risk, including possible loss of principal.

The fund is actively-managed is subject to the risk that the strategy may not produce the intended results.

The use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. These risks include (i) the risk that the counterparty to a derivative transaction may not fulfill its contractual obligations; (ii) risk of mispricing or improper valuation; and (iii) the risk that changes in the value of the derivative may not correlate perfectly with the underlying asset, rate, or index. Derivative prices are highly volatile and may fluctuate substantially during a short period of time. The use of leverage by the Fund, such as borrowing money to purchase securities or the use of options, will cause the Fund to incur additional expenses and magnify the Fund’s gains or losses. The earnings and prospects of small and medium sized companies are more volatile than larger companies and may experience higher failure rates than larger companies. Small and medium sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and may have limited markets, product lines, or financial resources and lack management experience.

The Fund invests in ETFs (Exchange-Traded Funds) and is therefore subject to the same risks as the underlying securities in which the ETF invests as well as entails higher expenses than if invested into the underlying ETF directly.

While the option overlay is intended to improve the Fund’s performance, there is no guarantee that it will do so. Utilizing an option overlay strategy involves the risk that as the buyer of a put or call option, the Fund risks losing the entire premium invested in the option if the Fund does not exercise the option. Also, securities and options traded in over-the-counter markets may trade less frequently and in limited volumes and thus exhibit more volatility and liquidity risk.

Simplify ETFs are distributed by Foreside Financial Services, LLC. Simplify and Foreside are not related.

© 2025 Simplify ETFs. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250311891787/en/

Chris Sullivan

Craft & Capital

chris@craftandcapital.com

Source: Simplify Asset Management Inc.

FAQ

What caused the NAV restatement for Simplify Interest Rate Hedge ETF (PFIX)?

The NAV restatement was caused by a delayed posting of swaption trade settlement proceeds.

When did the PFIX NAV restatement period begin and end?

The restatement period covered February 25 to March 7, 2025, and became effective March 11, 2025.

How does the PFIX NAV restatement affect existing shareholders?

The restatement adjusts the fund's net asset value per share for the affected period, which may impact shareholder account values.

What is the purpose of NAV adjustments for ETFs like PFIX?

NAV adjustments ensure accurate fund pricing and fair treatment of shareholders when corrections to underlying asset valuations are needed.