The supplement updates the Summary Prospectus, Prospectus and SAI dated January 9, 2026, after an August 11, 2026 supplement.

Simplify Exchange Traded Funds ended Altis Partners (Jersey) Limited’s role as Commodity futures adviser to CCOM, effective immediately. Simplify Asset Management, Inc. remains the fund’s adviser and will keep managing its current strategy through proprietary models. Shareholders should retain the updated prospectus materials for the continuing management arrangement.

Key Highlights

  • Simplify Asset Management will continue managing CCOM through proprietary models.
  • Simplify Asset Management, Inc. will continue serving as CCOM’s adviser.
  • The update is dated August 31, 2026, and supplements materials dated January 9, 2026, previously supplemented on August 11, 2026.

CCOM Adviser References Updated

Altis Partners’ role as Commodity Futures Adviser has ended. The update is dated August 31, 2026, and supplements materials dated January 9, 2026, which were previously supplemented on August 11, 2026.

Simplify (AMEX: IOPP) Asset Management Retains Current

Strategy Simplify (AMEX: IOPP) Asset Management, Inc. will continue serving as CCOM’s adviser and managing the fund according to its current strategy. Proprietary models will remain part of that management approach. Those materials should be kept for future reference, with the adviser references updated to reflect Altis Partners’ departure and Simplify Asset Management’s continuing role.