LITL Simplify Piper Sandler US Small-Cap PLUS Income ETF
The Simplify Piper Sandler US Small-Cap PLUS Income ETF (LITL) seeks to provide capital appreciation and income through an actively managed opportunistic strategy combined with a risk-managed income generating option strategy.
The fund’s subadvisor Piper Sandler utilizes a macro-driven model to select stocks according to style factors that have historically been favorable in the current economic environment.
A risk-managed options selling strategy is then overlayed on top to provide additional income and total return potential.
Why Invest in LITL?
LITL Spotlight
Fund Overview
As of 08/26/2026
Ticker Symbol
LITL
Expense Ratio
0.91%
CUSIP
82889N327
Total Assets
$6,866,334.86
Shares Outstanding
200,001
Distribution Rate as of 07/31/2026
Distribution rate calculation employs the most recent distribution, and multiplies the payment by 12 (monthly) or 4 (quarterly) to get an annualized total. The annualized total is then divided by the most recent net asset value (NAV) to determine the distribution rate.
Distribution Rate Close
Distribution rate calculation employs the most recent distribution, and multiplies the payment by 12 (monthly) or 4 (quarterly) to get an annualized total. The annualized total is then divided by the most recent net asset value (NAV) to determine the distribution rate.1.78%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 07/31/2026
0.42%
30-Day SEC Yield (Unsubsidized) as of 07/31/2026
0.42%
Options Available
No
Inception Date
04/28/2025
Premium/Discount (%) as of 08/26/2026
-0.32%
NAV Per Share as of 08/26/2026
$34.33
Market Price as of 08/26/2026
$34.22
30-Day Median Bid-Ask Spread
0.41%
Bid/Ask
$34.16/$34.30
Midpoint Price
$34.23
Volume
5,291
NAV Symbol
LITL.NV
IOPV Symbol
LITL.IV
Shares Out. Symbol
LITL.SO
Schedule K-1
No
The Distribution Rate is the annual rate an investor would receive if the most recently declared distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by multiplying an ETF’s Distribution per Share by twelve (12), and dividing the resulting amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. The distribution may include a combination of ordinary dividends, capital gains, and return of investor capital and has the potential to change during any given tax year. Please refer to the 19a-1 Notice, which can be found on the Fund’s website, for information regarding the composition of distributions, including return of capital. The final determination of a distribution’s tax character will be made on Form 1099-DIV.
Management Fees
This table describes the fees and expenses that you may pay if you buy, sell, and hold shares of the Fund. Investors purchasing or selling shares of the Fund in the secondary market may be subject to costs (including customary brokerage commissions) charged by their broker. The fee table located in the prospectus and updates in prospectus supplements prevail.
| Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | |
|---|---|
| Management Fees | 0.90% |
| Distribution and Service (12b-1) Fees | 0.00% |
| Other Expenses1 | 0.00% |
| Acquired Fund Fees and Expenses2 | 0.01% |
| Total Annual Fund Operating Expenses | 0.91% |
1. Other Expenses are estimated for the Fund’s initial fiscal year.
2. Acquired Fund Fees and Expenses, which are estimated for the Fund’s initial fiscal year, are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund.
Fund Performance (Total Return)
As of 07/31/2026 06/30/2026
| Cumulative | 1 Month | 3 Month | 6 Month | YTD | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|---|---|---|---|
| NAV | -2.06% | 7.91% | 12.69% | 15.15% | 28.75% | — | — | 37.32% |
| Market Price | -2.30% | 7.77% | 12.70% | 15.03% | 28.67% | — | — | 36.51% |
| Annualized | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | 28.75% | — | — | 28.68% |
| Market Price | 28.67% | — | — | 28.15% |
| Cumulative | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | 27.16% | — | — | 40.20% |
| Market Price | 26.89% | — | — | 39.71% |
| Annualized | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | 27.16% | — | — | 33.40% |
| Market Price | 26.89% | — | — | 33.09% |
| Calendar Year | NAV | Market Price |
|---|---|---|
| 2025 | — | — |
The performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is available above.
NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day.
Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.
Growth of $10,000
The Growth of $10,000 chart reflects a hypothetical investment and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses were deducted. Results are not indicative of future performance.
The chart above presents the Fund's daily premium or discount relative to its Net Asset Value (NAV) during the period shown. A premium occurs when the market price of the Fund's shares is greater than the Fund's NAV, while a discount occurs when the market price is less than the Fund's NAV. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time the Fund's NAV is calculated (usually 4:00 p.m. Eastern Time). The horizontal axis shows the trading dates during the period presented. The vertical axis shows the daily premium or discount expressed as a percentage of NAV. Each bar represents the Fund's premium or discount on a particular trading day. Bars above 0% indicate that the Fund traded at a premium to NAV, while bars below 0% indicate that the Fund traded at a discount to NAV. Past premiums and discounts are not indicative of future results.
Portfolio Holdings
| Ticker | Name | Quantity | Weight |
|---|---|---|---|
| - | CONTRA XOMA ROYALTY CO + NPV | 971 | 0.00% |
| ABG | ASBURY AUTOMOTIVE GROUP IN USD 0.01 | 194 | 0.59% |
| ACIW | ACI WORLDWIDE INC USD 0.005 | 783 | 0.60% |
| ADAM | ADAMAS TRUST INC | 4,948 | 0.70% |
| ADEA | ADEIA INC NPV | 1,684 | 0.64% |
| ADUS | ADDUS HOMECARE CORP USD 0.001 | 389 | 0.68% |
| AEO | AMERICAN EAGLE OUTFITTERS USD 0.01 | 2,612 | 0.67% |
| AGX | ARGAN INC USD 0.15 | 79 | 0.52% |
| ALHC | ALIGNMENT HEALTHCARE INC USD 0.001 | 3,022 | 0.61% |
| ALRM | ALARM COM HLDGS INC NPV | 820 | 0.68% |
| ALTO | ALTO INGREDIENTS INC USD 0.001 | 9,428 | 0.56% |
| AMSC | AMERICAN SUPERCONDUCTOR CO USD 0.01 | 1,528 | 0.66% |
| ANF | ABERCROMBIE + FITCH CO USD 0.01 | 451 | 0.97% |
| ANIP | ANI PHARMACEUTICALS INC USD 0.0001 | 566 | 0.61% |
| ARLO | ARLO TECHNOLOGIES INC USD 0.001 | 3,049 | 0.58% |
| ASO | ACADEMY SPORTS + OUTDOORS USD 0.01 | 946 | 0.60% |
| ATEX | ANTERIX INC USD 0.0001 | 482 | 0.66% |
| AVAH | AVEANNA HEALTHCARE HLDGS I USD 0.01 | 4,779 | 0.95% |
| AZZ | AZZ INC USD 1.0 | 310 | 0.64% |
| BBW | BUILD-A-BEAR WORKSHOP INC USD 0.01 | 1,323 | 0.75% |
| BELFB | BEL FUSE INC USD 0.1 | 165 | 0.61% |
| BFH | BREAD FINL HLDGS INC USD 0.01 | 415 | 0.65% |
| BLX | BLADEX INC NPV | 767 | 0.61% |
| BOBS | BOBS DISC FURNITURE INC NPV | 2,692 | 0.67% |
| BTSG | BRIGHTSPRING HEALTH SVCS USD 100.0 | 752 | 0.67% |
| BWFG | BANKWELL FINL GROUP INC NPV | 659 | 0.63% |
| CAKE | CHEESECAKE FACTORY INC USD 0.01 | 443 | 0.74% |
| CBL | CBL + ASSO COM USD0.01 | 764 | 0.61% |
| CCS | CENTURY CMNTYS INC USD 0.01 | 668 | 0.67% |
| CDNA | CAREDX INC USD 0.001 | 1,027 | 0.76% |
| CNK | CINEMARK HLDGS INC USD 0.001 | 1,227 | 0.66% |
| CNXN | PC CONNECTION INC USD 0.01 | 536 | 0.62% |
| COCO | VITA COCO CO INC USD 0.01 | 681 | 0.62% |
| CPRI | CAPRI HOLDINGS LTD | 2,817 | 0.56% |
| CRMD | CORMEDIX INC USD 0.001 | 5,960 | 0.73% |
| CRVL | CORVEL CORP USD 0.0001 | 747 | 0.77% |
| CSTM | CONSTELLIUM SE EUR 0.02 | 1,616 | 0.64% |
| CTS | CTS CORP NPV | 700 | 0.58% |
| CXW | CORECIVIC INC USD 0.01 | 1,501 | 0.74% |
| DDD | 3D SYS CORP DEL USD 0.001 | 17,000 | 0.82% |
| DEC | DIVERSIFIED ENERGY CO 1P GDR | 3,334 | 0.72% |
| DHT | DHT HOLDINGS INC USD 0.01 | 2,417 | 0.64% |
| DIOD | DIODES INC COM USD0.66 2/3 | 545 | 0.72% |
| DRH | DIAMONDROC COM USD0.01 | 3,390 | 0.62% |
| ECPG | ENCORE CAPITAL GROUP INC. USD 0.01 | 477 | 0.70% |
| ELMD | ELECTROMED INC USD 0.01 | 1,102 | 0.51% |
| ENR | ENERGIZER HLDGS INC NEW USD 0.01 | 2,140 | 0.68% |
| ETON | ETON PHARMACEUTICALS INC USD 0.001 | 967 | 0.88% |
| EVER | EVERQUOTE INC USD 0.001 | 1,780 | 0.68% |
| FBIZ | FIRST BUSINESS FINL SVCS I USD 0.01 | 639 | 0.65% |
| FBP | FIRST BANCORP P R USD 0.1 | 1,551 | 0.63% |
| FMAO | FARMERS + MERCHANTS BANCORP INC NPV | 1,345 | 0.66% |
| FSS | FEDERAL SIGNAL CORP USD 1.0 | 359 | 0.64% |
| GKOS | GLAUKOS CORP USD 0.001 | 269 | 0.71% |
| GRBK | GREEN BRICK PARTNERS INC USD 0.01 | 635 | 0.68% |
| GRDN | GUARDIAN PHARMACY SVCS INC USD 0.01 | 1,135 | 0.62% |
| GRND | GRINDR INC USD 0.0001 | 2,588 | 0.60% |
| GTX | GARRETT MOTION INC USD 0.001 | 1,441 | 0.57% |
| HCSG | HEALTHCARE SVCS GROUP INC USD 0.01 | 1,926 | 0.64% |
| HG | HAMILTON INSURANCE GROUP L USD 0.01 | 1,248 | 0.64% |
| HIPO | HIPPO HLDGS INC USD 0.0001 | 1,427 | 0.68% |
| HURN | HURON CONSULTING GROUP INC USD 0.01 | 296 | 0.67% |
| IA | INNOVATIVE SOLUTIONS + SU USD 0.001 | 2,454 | 0.77% |
| IDCC | INTERDIGITAL INC PA USD 0.01 | 147 | 0.74% |
| IIIN | INSTEEL INDS INC NPV | 1,464 | 0.65% |
| IMAX | IMAX CORP NPV | 938 | 0.72% |
| INDV | INDIVIOR PHARMACEUTICALS USD 0.001 | 1,122 | 0.59% |
| INOD | INNODATA INC USD 0.01 | 714 | 0.58% |
| INVA | INNOVIVA INC USD 0.01 | 2,140 | 0.66% |
| ITRI | ITRON INC COM NPV | 450 | 0.65% |
| JOE | ST JOE CO NPV | 721 | 0.73% |
| KAI | KADANT INC USD 0.01 | 146 | 0.65% |
| KALU | KAISER ALUM CORP USD 0.01 | 281 | 0.64% |
| KFRC | KFORCE INC USD 0.01 | 791 | 0.66% |
| KRG | KITE REALT COM USD0.01 | 1,568 | 0.60% |
| KRT | KARAT PACKAGING INC USD 0.001 | 1,115 | 0.80% |
| LFST | LIFESTANCE HEALTH GROUP IN USD 0.01 | 4,282 | 0.76% |
| LGIH | LGI HOMES INC USD 0.01 | 822 | 0.70% |
| LMB | LIMBACH HLDGS INC USD 0.0001 | 626 | 0.39% |
| LPG | DORIAN LPG LTD USD 0.01 | 946 | 0.66% |
| MATX | MATSON INC NPV | 222 | 0.72% |
| MAX | MEDIAALPHA INC USD 0.01 | 3,625 | 0.67% |
| MCY | MERCURY GEN CORP NEW NPV | 419 | 0.64% |
| MGEE | MGE ENERGY INC USD 1.0 | 564 | 0.65% |
| MGRC | MCGRATH RENTCORP NPV | 390 | 0.65% |
| MLAB | MESA LABS INC NPV | 445 | 0.82% |
| MMSI | MERIT MEDI COM NPV | 528 | 0.70% |
| MNKD | MANNKIND CORP USD 0.01 | 11,478 | 0.68% |
| MOV | MOVADO GROUP INC USD 0.01 | 1,175 | 0.60% |
| MYE | MYERS INDS INC NPV | 1,314 | 0.64% |
| NBN | NORTHEAST BK PORTLAND ME USD 1.0 | 361 | 0.68% |
| NHC | NATIONAL HEALTHCARE CORP USD 0.01 | 199 | 0.65% |
| NMIH | NMI HLDGS INC USD 0.01 | 1,013 | 0.67% |
| NSIT | INSIGHT ENTERPRISES INC USD 0.01 | 348 | 0.77% |
| NUTX | NUTEX HEALTH INC NPV | 304 | 0.87% |
| NVEC | NVE CORP USD 0.01 | 386 | 0.60% |
| OFG | OFG BANCORP USD 1.0 | 849 | 0.65% |
| OII | OCEANEERING INTL INC USD 0.25 | 920 | 0.66% |
| OPCH | OPTION CARE HEALTH INC USD 0.0001 | 1,949 | 0.68% |
| ORRF | ORRSTOWN FINL SVCS INC NPV | 1,050 | 0.65% |
| OSPN | ONESPAN INC USD 0.001 | 2,899 | 0.65% |
| OTTR | OTTER TAIL COM USD5 | 508 | 0.68% |
| PACS | PACS GROUP INC USD 0.001 | 975 | 0.63% |
| PARR | PAR PACIFIC HOLDINGS INC 0.01 | 522 | 0.58% |
| PBF | PBF ENERGY INC USD 0.001 | 621 | 0.63% |
| PENG | PENGUIN SOLUTIONS INC DEL USD 0.01 | 853 | 0.64% |
| PGNY | PROGYNY INC USD 0.0001 | 1,442 | 0.55% |
| PLGO | PELAGOS INSURANCE CAPITAL LIMITED | 1,775 | 0.63% |
| PRGS | PROGRESS S COM USD0.01 | 1,106 | 0.70% |
| PRTH | PRIORITY TECHNOLOGY HLDGS USD 0.001 | 6,905 | 0.56% |
| PTCT | PTC THERAPEUTICS INC USD 0.001 | 660 | 0.70% |
| PTGX | PROTAGONIST THERAPEUTIC USD 0.00001 | 328 | 0.72% |
| RAMP | LIVERAMP HLDGS INC USD 0.1 | 1,185 | 0.65% |
| REX | REX AMERICAN RES CORP USD 0.01 | 1,043 | 0.65% |
| RHLD | RESOLUTE HLDGS MGMT INC USD 0.0001 | 363 | 0.73% |
| RILY | BRC GROUP HLDGS INC USD 0.0001 | 6,268 | 0.65% |
| RUN | SUNRUN INC USD 0.0001 | 4,575 | 0.61% |
| SENEA | SENECA FOODS CORP NEW USD 0.25 | 271 | 0.76% |
| SIG | SIGNET JEWELERS LIMITED USD0.18 | 483 | 0.59% |
| SITC | SITE CTRS CORP | 10,486 | 0.46% |
| SLDE | SLIDE INS HLDGS INC USD 0.01 | 2,247 | 0.76% |
| SPIR | SPIRE GLOBAL INC NPV | 3,916 | 0.77% |
| SRTA | STRATA CRITICAL MEDICAL INC | 8,940 | 0.80% |
| TDC | TERADATA CORP DEL USD 0.01 | 1,448 | 0.57% |
| TDS | TELEPHONE + DATA SYS INC USD 0.01 | 1,336 | 0.65% |
| THFF | FIRST FINL CORP IND NPV | 557 | 0.64% |
| TILE | INTERFACE INC USD 0.1 | 1,310 | 0.74% |
| TK | TEEKAY CORP LTD USD 0.001 | 3,852 | 0.69% |
| TMP | TOMPKINS FINL CORP USD 0.1 | 450 | 0.64% |
| TNK | TEEKAY TANKERS LTD USD 0.01 | 565 | 0.68% |
| TRNO | TERRENO RE COM USD0.01 | 626 | 0.62% |
| TSSI | TSS INC DEL USD 0.0001 | 4,524 | 0.56% |
| UPWK | UPWORK INC USD 0.0001 | 4,899 | 0.62% |
| URBN | URBAN OUTFITTERS INC USD 0.0001 | 605 | 0.73% |
| UVE | UNIVERSAL INS HLDGS INC USD 0.01 | 1,027 | 0.65% |
| VCEL | VERICEL CORP NPV | 976 | 0.60% |
| VISN | VISTANCE NETWORKS INC USD 0.01 | 3,823 | 0.62% |
| VSXY | VICTORIAS SECRET + CO USD 0.01 | 506 | 0.67% |
| YEXT | YEXT INC USD 0.001 | 8,220 | 0.78% |
| YOU | CLEAR SECURE INC USD 0.00001 | 812 | 0.52% |
| ZVRA | ZEVRA THERAPEUTICS INC USD 0.0001 | 4,719 | 0.81% |
| SPXW | AUGUST 26 CALLS ON SPX 7850.000000 | 8 | 0.00% |
| SPXW | AUGUST 26 CALLS ON SPX 8050.000000 | 4 | 0.00% |
| SPXW | SEPTEMBER 26 CALLS ON SPX 7950.0000 | 2 | 0.03% |
| SPXW | SEPTEMBER 26 CALLS ON SPX 7975.0000 | 2 | 0.02% |
| SPXW | SEPTEMBER 26 CALLS ON SPX 8100.0000 | 1 | 0.00% |
| SPXW | SEPTEMBER 26 CALLS ON SPX 8100.0000 | 2 | 0.02% |
| SPXW | OCTOBER 26 CALLS ON SPX 7860.000000 | 1 | 0.11% |
| SPXW | OCTOBER 26 CALLS ON SPX 7900.000000 | 1 | 0.09% |
| SPXW | NOVEMBER 26 CALLS ON SPX 8250.00000 | 1 | 0.05% |
| SPXW | NOVEMBER 26 CALLS ON SPX 8350.00000 | 1 | 0.03% |
| - | TRS SBAR SOFR +95 061527 | 133,460 | 49.70% |
| - | TRS SBAR SOFR +93 051427 | 31,757 | 11.83% |
| - | TRS SBAR SOFR +93 051427 | -818,695 | -11.92% |
| - | TRS SBAR SOFR +95 061527 | -3,440,598 | -50.11% |
| T Bills | UNITED STS TREAS BILLS 0.0 15OCT26 | 150,000 | 2.17% |
| T Bills | UNITED STS TREAS BILLS 0.0 03DEC26 | 70,000 | 1.01% |
| T Bills | UNITED STS TREAS BILLS 0.0 31DEC26 | 180,000 | 2.59% |
| T Bills | UNITED STS TREAS BILLS 0.0 28JAN27 | 50,000 | 0.72% |
| - | Estimated Cash | 39,484 | 0.58% |
Holdings are subject to change without notice.
Recent Distributions
| Ex-Dividend Date | Record Date | Payable Date | Total Distribution |
|---|---|---|---|
| N/A | |||
| $0.08000 | |||
| $0.05000 | |||
| $0.05000 | |||
| $0.05000 |
Data in the s19 reports should not be relied upon to estimate the tax classification of distributions.
They are rough point-in-time estimates that do not line up with the fund's fiscal year end and are thus
not reflective of the tax information investors should expect. S19 reports are posted for regulatory
requirements only.
