| Investment Objective: |
The Simplify National Muni Bond ETF's (the "Fund" or "NMB") primary investment objective is to seek income, with a secondary investment objective of capital appreciation. The Fund is an actively managed exchange-traded fund that seeks to achieve its investment objectives by investing primarily in investment grade U.S. municipal bonds and applying an income generating option strategy. The Fund will invest in municipal securities that the sub-adviser believes will provide the best balance between, on the one hand, the potential for income, and on the other hand, risk profile, within the Fund's range of allowable investments at any given time. In selecting municipal securities for the Fund's portfolio, the sub-adviser may acquire securities that pay fixed, floating or variable rates of interest. The sub-adviser may also sell securities on an opportunistic basis for capital appreciation or because of a decline in credit quality, change in tax characterization, or availability of securities that the sub-adviser believes offer better investment opportunities. |
