Swaps are derivative contracts between two parties that involve the exchange of cash flows. One counterparty agrees to receive one set of cash flows while paying the other another set of cash flows.

The Simplify Interest Rate Hedge ETF offers active interest rate risk hedging via derivatives and high-quality fixed income. Learn more about the fund.

Understand how interest rate risk affects bond income and retirement portfolios—and how to manage price and reinvestment risk strategically.