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                    <identifiers>
                      <cusip value="000000000"/>
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                    <othIndCurCd>USD</othIndCurCd>
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                    <othIndIssCurCd>USD</othIndIssCurCd>
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                  <component>
                    <othIndName>Gold, 100 oz</othIndName>
                    <identifiers>
                      <cusip value="000000000"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Performance Leg</otherRecDesc>
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                <rtResetTenor rateTenor="Year" rateTenorUnit="1" resetDt="Year" resetDtUnit="1"/>
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            </floatingPmntDesc>
            <terminationDt>2049-12-31</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
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            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-2383739.46000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-54244.96000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-08-21</ncom:dateSigned>
      <ncom:nameOfApplicant>Simplify Exchange Traded Funds</ncom:nameOfApplicant>
      <ncom:signature>Paul Kim</ncom:signature>
      <ncom:signerName>Paul Kim</ncom:signerName>
      <ncom:title>Trustee &amp; President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
