The Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) seeks to provide total return, before fees and expenses, that matches or outperforms the performance of the ICE US Treasury 20+ Year Index on a calendar quarter basis. The Fund does not seek to achieve its stated investment objective over a period of time different than a full calendar quarter. The fund looks to target the duration of the ICE 20+ Year US Treasury Index by investing in Treasury futures in the intermediate portion of the curve using 10-Year US Treasury futures contracts.