Simplify Wolfe US Equity 150/50 ETF (WUSA) is an actively managed exchange-traded fund that seeks capital appreciation through a long/short equity strategy focused on U.S. equities; it implements a 150% long allocation to approximately 250 stocks identified for highest forward expected returns and a 50% short allocation to approximately 150 stocks with lowest expected returns, resulting in 100% net equity exposure; equity selection relies on total return swaps linked to a proprietary multi-factor machine learning model developed by subadvisor Wolfe Research, which analyzes over 300 fundamental factors across thousands of data points to detect patterns free of human bias. The ETF trades on NYSE Arca; targets investors seeking enhanced U.S. equity returns via algorithmic stock picking; and operates exclusively within U.S. markets. Launched in September 2024 by Simplify Asset Management Inc., a registered investment adviser founded in 2020 and headquartered at 222 Broadway, 22nd Floor, New York, New York, WUSA represents a strategic partnership between Simplify and Wolfe Research, an industry-leading quantitative research firm. In a significant recent development, Simplify announced the closure and liquidation of WUSA in May 2025, with trading ceasing on May 23, 2025, and shareholder payments distributed on or about May 30, 2025, following a recommendation by the investment adviser amid operational considerations. WUSA forms part of Simplify Exchange Traded Funds, which includes other equity, fixed income, and volatility strategies, but stands as a distinct series managed jointly by Simplify portfolio managers and Wolfe Research personnel.