Simplify US Equity PLUS Convexity ETF (SPYC) is an actively managed exchange-traded fund that provides capital appreciation through low-cost, index-based exposure to U.S. large-cap equities, primarily via holdings tracking the S&P 500 Index ETF, augmented by a systematic options overlay strategy designed to create convexity and enhance performance during extreme market moves up or down; the overlay deploys a modest options budget into a series of positions to boost upside potential and hedge downside risk while maintaining tax efficiency and quarterly dividends. SPYC operates within the asset management industry, targeting investors seeking enhanced U.S. equity exposure with tactical options enhancements, and trades on the NYSE Arca exchange. Launched on September 3, 2020 and managed by Simplify Asset Management LLC, founded in 2020 and headquartered at 222 Broadway, 22nd Floor, New York, New York, the ETF forms part of Simplify's broader lineup of over 40 innovative ETFs focused on alternative strategies, income generation, and options overlays. In recent developments, Simplify Asset Management, which backs SPYC, launched the CTAP ETF on December 9, 2025, combining full U.S. large-cap equity exposure with a systematic managed futures strategy; expanded its barrier income suite with the Ancorato Target 25 Distribution ETF (XXV) on November 18, 2025; and introduced multiple other funds in 2025 including the PCR private credit ETF in September, SBIL money market ETF in July, and KNRG energy infrastructure credit ETF in May, alongside renaming initiatives such as VCAR to TESL in January 2025. These expansions reflect Simplify's ongoing strategic growth in equity-plus options, income, and thematic ETFs without direct changes to SPYC's structure, though the firm announced estimated 2025 capital gains distributions for its funds including SPYC on December 12, 2025.