This ETF is soaring in August as the market swoon revives winning trades from 2022

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The Simplify Interest Rate Hedge ETF (PFIX) has rallied in August after struggling earlier this year.

The August slump for stocks and bonds could cause investors to return to the bets that served them well during the 2022 sell-off, such as the surging Simplify Interest Rate Hedge ETF . The fund is up 21% month to date, as of Aug. 17, according to FactSet. Over the same period, ETFs tracking the S & P 500 and U.S. bond market are down 4.7% and 2.1%, respectively.

fund has surged in August. The Simplify fund uses over-the-counter derivatives, including so-called "swaptions," in an effort to guard against rising interest rates and benefit from volatility in fixed income markets. The fund also holds U.S. Treasurys. The August rally for

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