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Net Asset Value Restatement for Simplify Exchange Traded Funds (PCR, PFIX, RFIX)
Business Wire (Fri, 6-Mar 4:05 PM ET)
The ETF seeks to hedge interest rate movements arising from falling long-term interest rates, and to benefit from market stress when fixed income volatility increases, while providing the potential for income. The fund primarily holds a position in long-term expiry (5-year to 7-year) over-the-counter (OTC) interest rate options intended to provide a direct, transparent, and convex exposure to downward moves in interest rates. Using OTC derivatives, RFIX is designed to be functionally similar to owning a position in long-dated call options on US Treasury bonds. The adviser seeks to achieve the interest rate hedging aspect of the Fund's investment objective by investing long in swaptions, interest rate options, and Treasury futures. These instruments have positive price sensitivity to falling interest rates. The derivatives are selected to protect against falling long-term interest rates on high-quality instruments such as U.S. government securities and high quality corporate debt. To select a derivative that it believes will produce the most effective hedge against falling interest rates, the adviser assesses the interaction of maturity, strike price, reference interest rate, the risk-free rate, and volatility on the price of swaptions and interest rate options.
Simplify Downside Interest Rate Hedge Strategy ETF trades on the ARCA stock market under the symbol RFIX.
As of April 24, 2026, RFIX stock price declined to $39.22 with 470,469 million shares trading.
RFIX has a beta of -0.53, meaning it tends to be less sensitive to market movements. RFIX has a correlation of 0.10 to the broad based SPY ETF.
RFIX has a market cap of $55.89 million. This is considered a Micro Cap stock.
RFIX has underperformed the market in the last year with a price return of -19.0% while the SPY ETF gained +31.9%. However, in the short term, RFIX had mixed performance relative to the market. It has outperformed in the last 3 months, returning +7.9% vs +3.8% return in SPY. But in the last 2 weeks, RFIX shares have been beat by the market, returning +1.7% compared to an SPY return of +5.1%.
RFIX support price is $38.61 and resistance is $40.29 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that RFIX shares will trade within this expected range on the day.
