Simplify Wolfe US Equity 150/50 ETF Stock Price, News & Analysis

The symbol WUSA historically represented the Simplify Wolfe US Equity 150/50 ETF, a series of Simplify Exchange Traded Funds (the "Trust"). According to a Board decision announced by the Trust, this exchange-traded fund is scheduled to be liquidated and terminated, and is therefore best understood as a former ETF rather than an ongoing fund.

Fund background and structure

The Simplify Wolfe US Equity 150/50 ETF (WUSA) was one of two funds referenced by the Board of Trustees of Simplify Exchange Traded Funds, alongside the Simplify Market Neutral Equity Long/Short ETF (EQLS). Each of these funds is described as a "Fund" and together as the "Funds," and each is a series of the Trust. WUSA was advised by Simplify EQLS LLC, which is registered with the U.S. Securities and Exchange Commission as an investment adviser under the Investment Advisers Act of 1940, as amended. Simplify Asset Management, Inc. is described as owning a majority interest in Simplify EQLS LLC.

Liquidation and trading status

The Board of Trustees determined that it is in the best interests of shareholders to liquidate the Simplify Wolfe US Equity 150/50 ETF. The Board approved a liquidation process under which the last day of trading for WUSA on NYSE Arca, Inc. is expected to be May 23, 2025. After the close of business on that date, the fund will no longer accept creation orders. A liquidation payment to shareholders is expected to occur on or about May 30, 2025, referred to as the "Liquidation Date."

Shareholders who do not sell their shares of the fund before market close on the last trading day are expected to receive cash equal to the net asset value of their shares in their brokerage accounts on or about the Liquidation Date. The net asset value calculated on the Liquidation Date will reflect certain closing costs borne by the fund, such as brokerage commissions, while other costs are not borne by the adviser. The announcement states that the costs borne by the fund are not expected to be material. Once the distributions are complete, the fund will terminate.

Role of the investment adviser

The decision to liquidate the fund followed a recommendation by the fund’s investment adviser, Simplify EQLS LLC. Simplify EQLS LLC was formed in 2023 and is registered as an investment adviser with the SEC. The announcement also notes that Simplify Asset Management, Inc. owns 95.1% of Simplify EQLS LLC, indicating that WUSA was part of a broader family of Simplify-branded ETFs.

Investor considerations

The announcement related to WUSA emphasizes that investors should carefully consider the investment objectives, risks, charges, and expenses of exchange-traded funds before investing, and that this information is contained in an ETF’s prospectus. It directs investors to obtain and read the prospectus carefully before investing. The communication also notes that Simplify ETFs are distributed by Foreside Financial Services, LLC.

How to view WUSA today

Because the Board of Trustees has approved the liquidation and termination of the Simplify Wolfe US Equity 150/50 ETF, WUSA should be viewed in a historical context. The symbol is associated with a fund that the Trust determined to liquidate, with a specified last trading day and an expected liquidation date. After the liquidation and termination are completed, the symbol WUSA is not expected to represent an actively trading ETF on NYSE Arca.

Key points for historical reference

• WUSA represented the Simplify Wolfe US Equity 150/50 ETF, a series of Simplify Exchange Traded Funds.
• The Board of Trustees determined that liquidating the fund was in the best interests of shareholders, following a recommendation by the fund’s adviser.
• The last day of trading on NYSE Arca is expected to be May 23, 2025, after which the fund will no longer accept creation orders.
• Shareholders who hold shares through the last trading day are expected to receive cash based on the fund’s net asset value on or about May 30, 2025, the expected Liquidation Date.
• Once liquidation distributions are complete, the fund will terminate, and WUSA will function primarily as a historical ticker symbol.