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LITL

Simplify Piper Sandler US Small-Cap PLUS Income ETF

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As of 11/21/2025

NAV

$ 28.11

NAV Change

+ $ 1.07 /3.96%

Price

$ 28.13

Price Change

+ $ 1.04 /3.84%

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.

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Documents

Fund Overview

As of 11/21/2025

Ticker Symbol
LITL
Gross Expense Ratio
0.91%
CUSIP
82889N327
Total Assets
$5,621,723.24
Shares Outstanding
200,001
Distribution Rate as of 09/30/2025 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.
0.70%
Distribution Frequency
Quarterly
30-Day SEC Yield (Subsidized) as of 10/31/2025
-
30-Day SEC Yield (Unsubsidized) as of 10/31/2025
0.35%
Options Available
No
Inception Date
04/28/2025
Premium/Discount (%) as of 11/21/2025
0.08%
NAV Per Share as of 11/21/2025
$28.11
Market Price as of 11/21/2025
$28.13
30-Day Median Bid-Ask Spread
0.36%
Bid/Ask
$28.09/$28.19
Midpoint Price
$28.14
Volume
128
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. Distribution includes an estimated 43% Return of Capital ("ROC"). The ROC percentage indicates the percentage of the distribution that reflects an investor's initial investment.

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 Fees0.90%
Distribution and Service (12b-1) Fees0.00%
Other Expenses10.00%
Acquired Fund Fees and Expenses20.01%
Total Annual Fund Operating Expenses0.91%

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 10/31/2025 09/30/2025

Monthly Quarterly
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV -0.60% 6.38% 13.91% — — 13.45%
Market Price -0.60% 6.49% 13.79% — — 12.97%
Annualized 1 Year 3 Year Since Inception
NAV — — —
Market Price — — —
Cumulative 1 Year Since Inception
NAV — 14.14%
Market Price — 13.65%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV — — — —
Market Price — — — —
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. 

Historical Premium/Discount

Calendar Year 2024 3rd Quarter of 2025
Days Traded at Premium
N/A
54
Days Traded at Discount
N/A
10
The above frequency distribution chart presents information about the difference between the daily market price for shares of the Fund and the Fund's reported Net Asset Value. The amount that the Fund's market price is above the reported NAV is called the premium. The amount that the Fund's market price is below the reported NAV is called the discount. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 p.m. EST). The horizontal axis of the chart shows the premium or discount expressed in basis points. The vertical axis indicates the number of trading days in the period covered by the chart. Each bar in the chart shows the number of trading days in which the Fund traded within the premium/discount range indicated.

Portfolio Holdings

As of 11/21/2025

Holdings - All ETFs
Ticker Name Quantity Weight
IWM ISHARES RUSSELL 2000 ETF 769 3.22%
ABEO ABEONA THERAPEUTICS INC USD 0.01 6,931 0.55%
ACIC AMERICAN COASTAL INS COR USD 0.0001 2,816 0.59%
ACLS AXCELIS TECHNOLOGIES INC USD 0.001 419 0.57%
AEO AMERICAN EAGLE OUTFITTERS USD 0.01 1,995 0.66%
AGIO AGIOS PHARMACEUTICALS INC USD 0.001 771 0.35%
AGX ARGAN INC USD 0.15 109 0.65%
AII AMERICAN INTEGRITY INS GR USD 0.001 1,399 0.49%
ALEX ALEXANDER COM USD0.01 2,087 0.58%
ALKS ALKERMES PLC USD 0.01 1,086 0.55%
ALX ALEXANDERS COM USD1 151 0.56%
AMRX AMNEAL PHARMACEUTICALS INC USD 0.01 3,081 0.65%
ANIP ANI PHARMACEUTICALS INC USD 0.0001 368 0.52%
APAM ARTISAN PARTNERS ASSET MGM USD 0.01 764 0.56%
ARDT ARDENT HEALTH INC 2,290 0.36%
ASIX ADVANSIX INC USD 0.01 1,793 0.47%
ATEX ANTERIX INC USD 0.0001 1,649 0.60%
ATLC ATLANTICUS HLDGS CORP NPV 605 0.59%
ATMU ATMUS FILTRATION TECHNOL USD 0.0001 733 0.62%
ATRC ATRICURE INC USD 0.001 965 0.62%
AVAH AVEANNA HEALTHCARE HLDGS I USD 0.01 3,684 0.57%
AX AXOS FINL INC USD 0.01 427 0.60%
AXGN AXOGEN INC USD 0.01 1,500 0.72%
BBW BUILD-A-BEAR WORKSHOP INC USD 0.01 615 0.53%
BELFB BEL FUSE INC USD 0.1 216 0.54%
BHRB BURKE HERBERT FINL SVCS CO USD 0.01 566 0.64%
BKE BUCKLE INC USD 0.01 608 0.59%
BKH BLACK HILLS CORP USD 1.0 526 0.66%
BLBD BLUE BIRD CORP USD 0.0001 667 0.64%
BTSG BRIGHTSPRING HEALTH SVCS USD 100.0 1,009 0.62%
BY BYLINE BANCORP INC USD 0.01 1,247 0.61%
BYRN BYRNA TECHNOLOGIES INC USD 0.001 1,646 0.51%
CARS CARS COM INC USD 0.01 3,104 0.63%
CASH PATHWARD FINL INC USD 0.01 490 0.61%
CMCL CALEDONIA MINING CORP PLC NPV 1,186 0.57%
CMRE COSTAMARE INC USD 0.0001 2,728 0.71%
COMM COMMSCOPE HLDG CO INC USD 0.01 1,927 0.59%
CRAI CRA INTL INC NPV 175 0.55%
CRDO CREDO TECHNOLOGY GROUP USD 0.00005 178 0.42%
CRMD CORMEDIX INC USD 0.001 2,995 0.52%
CRVL CORVEL CORP USD 0.0001 451 0.59%
CSTL CASTLE BIOSCIENCES INC USD 0.001 1,307 0.88%
CXM SPRINKLR INC USD 0.00003 4,318 0.55%
DCTH DELCATH SYS INC USD 0.01 3,391 0.54%
DFH DREAM FINDERS HOMES INC USD 0.01 1,684 0.58%
DHIL DIAMOND HILL INVT GROUP INC NPV 260 0.56%
DHT DHT HOLDINGS INC USD 0.01 2,510 0.61%
DJCO DAILY JOURNAL CORP USD 0.01 82 0.61%
DY DYCOM INDS INC USD 0.333333 116 0.67%
EBF ENNIS BUSINESS FORMS INC USD 2.5 2,033 0.62%
EBS EMERGENT BIOSOLUTIONS INC USD 0.001 2,671 0.48%
EGAN EGAIN COMMUNICATIONS CORP USD 0.001 2,312 0.44%
EMBC EMBECTA CORP USD 0.01 2,499 0.65%
ENR ENERGIZER HLDGS INC NEW USD 0.01 1,435 0.47%
FBIZ FIRST BUSINESS FINL SVCS I USD 0.01 659 0.60%
FLR FLUOR CORP NEW USD 0.01 684 0.49%
FOR FORESTAR GROUP INC USD 1.0 1,282 0.56%
FORM FORMFACTOR INC USD 0.001 607 0.53%
FTDR FRONTDOOR INC USD 0.01 502 0.46%
FUBO FUBOTV INC USD 0.0001 8,819 0.50%
FUNC FIRST UTD CORP USD 0.01 965 0.63%
GAMB GAMBLING.COM GROUP LTD NPV 4,676 0.41%
GCT GIGACLOUD TECHNOLOGY INC USD 0.05 1,191 0.74%
GLDD GREAT LAKES DREDGE + DOC USD 0.0001 2,937 0.62%
GLUE MONTE ROSA THERAPEUTICS USD 0.0001 2,594 0.66%
GTX GARRETT MOTION INC USD 0.001 1,968 0.56%
GTY GETTY REAL COM USD0.01 1,215 0.62%
HBCP HOME BANCORP INC USD 0.01 627 0.61%
HBI HANESBRANDS INC USD 5,043 0.59%
HBT HBT FINL INC USD 0.01 1,367 0.58%
HG HAMILTON INSURANCE GROUP L USD 0.01 1,408 0.68%
HLF HERBALIFE NUTRITION LTD USD 0.002 4,167 0.89%
HLIT HARMONIC INC USD 0.001 3,116 0.49%
HRMY HARMONY BIOSCIENCES HLD USD 0.00001 1,167 0.71%
HRTG HERITAGE INS HLDGS INC USD 0.0001 1,411 0.68%
IAS INTEGRAL AD SCIENCE HLDG USD 0.001 3,265 0.60%
IBEX IBEX HOLDINGS LTD USD 0.0001 892 0.55%
IBOC INTERNATIONAL BANCSHARES CO USD 1.0 502 0.59%
INDV INDIVIOR PLC USD 0.5 1,135 0.66%
INSW INTERNATIONAL SEAWAYS INC NPV 651 0.63%
IVT INVENTRUST COM USD0.001(POST REV SP 1,217 0.62%
JBSS SANFILIPPO JOHN B + SON IN USD 0.01 531 0.66%
KALU KAISER ALUM CORP USD 0.01 368 0.60%
KINS KINGSTONE USD 0.01 2,286 0.60%
KROS KEROS THERAPEUTICS INC USD 0.0001 2,190 0.68%
KSS KOHLS CORP USD 0.01 2,049 0.57%
KTB KONTOOR BRANDS INC NPV 412 0.52%
LAUR LAUREATE ED INC USD 0.001 1,148 0.61%
LCII LCI INDS USD 0.01 322 0.64%
LEU CENTRUS ENERGY CORP USD 0.1 91 0.39%
LIF LIFE360 INC USD 0.001 338 0.44%
LYTS LSI INDS INC OHIO NPV 1,456 0.47%
MAX MEDIAALPHA INC USD 0.01 2,615 0.55%
MCY MERCURY GEN CORP NEW NPV 431 0.70%
MDXG MIMEDX GROUP INC USD 0.001 4,358 0.52%
MMSI MERIT MEDI COM NPV 381 0.59%
MRX MAREX GROUP PLC NPV 1,098 0.64%
NECB NORTHEAST CMNTY BANCORP IN USD 0.01 1,697 0.61%
NEXN NEXXEN INTERNATIONAL LTD NPV 4,056 0.47%
NHC NATIONAL HEALTHCARE CORP USD 0.01 279 0.65%
NJR NEW JERSEY RES CORP USD 2.5 753 0.65%
NOG NORTHERN OIL + GAS INC USD 0.001 1,506 0.57%
NRIM NORTHRIM BANCORP INC USD 1.0 1,517 0.65%
NSSC NAPCO SEC TECHNOLOGIES INC USD 0.01 755 0.52%
NTB BANK OF NT BUTTERFIELD + S BMD 0.01 721 0.59%
NTGR NETGEAR INC USD 0.001 960 0.43%
NUS NU SKIN ENTERPRISES INC USD 0.001 3,110 0.55%
ODC OIL DRI CORP AMER USD 0.1 602 0.59%
OMCL OMNICELL INC USD 0.001 993 0.64%
OTTR OTTER TAIL COM USD5 432 0.63%
PACS PACS GROUP INC USD 0.001 2,760 1.35%
PAHC PHIBRO ANIMAL HEALTH CORP USD 0.001 793 0.59%
PEBO PEOPLES BANCORP INC NPV 1,166 0.61%
PFBC PREFERRED BK LOS ANGELES CALIF NPV 369 0.61%
PHR PHREESIA INC USD 0.01 1,472 0.52%
PINC PREMIER INC USD 0.01 1,186 0.59%
PLAB PHOTRONICS INC USD 0.01 1,395 0.52%
PLOW DOUGLAS DYNAMICS INC USD 0.01 1,103 0.61%
PLYM PLYMOUTH I COM USD0.01 1,515 0.60%
PNRG PRIMEENERGY RES CORP USD 0.1 246 0.66%
PRIM PRIMORIS SVCS CORP USD 0.0001 236 0.49%
PRM PERIMETER SOLUTIONS INC NPV 1,418 0.66%
PSIX POWER SOLUTIONS INTL INC USD 0.001 389 0.36%
PSTL POSTAL REA COM USD0.01 CL A 2,251 0.62%
QCRH QCR HLDGS INC USD 1.0 448 0.63%
REVG REV GROUP INC USD 0.001 650 0.58%
RHLDV RESOLUTE HLDGS MGMT INC USD 0.0001 200 0.61%
RSI RUSH STR INTERACTIVE INC USD 0.0001 1,966 0.61%
SBH SALLY BEAUTY HLDGS INC USD 0.01 2,206 0.59%
SBRA SABRA HEAL COM USD0.01 1,871 0.62%
SBSI SOUTHSIDE COM USD1.25 1,186 0.61%
SCS STEELCASE INC NPV 2,089 0.60%
SEM SELECT MED HLDGS CORP USD 0.001 2,410 0.59%
SIGA SIGA TECHNOLOGIES INC USD 0.0001 4,026 0.42%
SITC SITE CTRS CORP 4,548 0.57%
SLDE SLIDE INS HLDGS INC USD 0.01 2,085 0.60%
STRL STERLING INFRASTRUCTURE IN USD 0.01 88 0.49%
SUPN SUPERNUS PHARMACEUTICALS USD 0.001 605 0.49%
TCBX THIRD COAST BANCSHARES INC USD 1.0 907 0.60%
TDAY USA TODAY CO NEW USD 0.01 6,290 0.51%
TDW TIDEWATER INC NEW USD 0.001 659 0.63%
TK TEEKAY CORP LTD USD 0.001 3,465 0.63%
TNET TRINET GROUP INC USD 0.000025 556 0.57%
TSSI TSS INC DEL USD 0.0001 1,645 0.23%
UFCS UNITED FIRE GROUP INC USD 0.001 1,103 0.72%
UPWK UPWORK INC USD 0.0001 2,091 0.66%
URBN URBAN OUTFITTERS INC USD 0.0001 516 0.59%
UVE UNIVERSAL INS HLDGS INC USD 0.01 1,082 0.64%
VAL VALARIS LTD USD 0.01 594 0.57%
VCYT VERACYTE INC USD 0.001 924 0.72%
VECO VEECO INSTRS INC DEL USD 0.01 1,160 0.57%
VEL VELOCITY FINL INC USD 0.01 1,790 0.58%
VITL VITAL FARMS INC USD 0.0001 1,015 0.58%
VLGEA VILLAGE SUPER MKT INC NPV 1,063 0.65%
VSCO VICTORIAS SECRET + CO USD 0.01 946 0.62%
VTEX VTEX USD 0.0001 7,425 0.50%
VTOL BRISTOW GROUP INC DEL NEW USD 0.01 819 0.54%
WAY WAYSTAR HLDG CORP USD 0.01 930 0.59%
WHD CACTUS INC USD 0.01 755 0.55%
WK WORKIVA INC USD 0.001 392 0.63%
WLDN WILLDAN GROUP INC USD 0.01 353 0.61%
WLFC WILLIS LEASE FIN CORP USD 0.01 260 0.55%
WLY WILEY JOHN CLASS A COM USD 1 904 0.57%
WTBA WEST BANCORPORATION INC NPV 1,567 0.61%
WWW WOLVERINE WORLD WIDE INC USD 1.0 1,469 0.42%
YOU CLEAR SECURE INC USD 0.00001 1,094 0.70%
RUTW US 11/26/25 P2215 RUTW Nov 2025 2215 Put 4 0.01%
RUTW US 11/26/25 P2315 RUTW Nov 2025 2315 Put -4 -0.07%
RUTW US 12/05/25 P2030 RUTW Dec 2025 2030 Put 4 0.01%
RUTW US 12/05/25 P2110 RUTW Dec 2025 2110 Put 4 0.02%
RUTW US 12/05/25 P2130 RUTW Dec 2025 2130 Put -4 -0.02%
RUTW US 12/05/25 P2210 RUTW Dec 2025 2210 Put -4 -0.05%
SPXW US 11/24/25 P6325 SPXW Nov 2025 6325 Put -4 -0.01%
SPXW US 11/24/25 P6425 SPXW Nov 2025 6425 Put 4 0.02%
SPXW US 11/25/25 C6850 SPXW Nov 2025 6850 Call 11 0.00%
SPXW US 11/26/25 C6840 SPXW Nov 2025 6840 Call 31 0.03%
SPXW US 11/26/25 P6250 SPXW Nov 2025 6250 Put 1 0.01%
SPXW US 11/26/25 P6550 SPXW Nov 2025 6550 Put -1 -0.07%
SPXW US 12/05/25 C6925 SPXW Dec 2025 6925 Call 1 0.00%
SPXW US 12/05/25 P5700 SPXW Dec 2025 5700 Put 1 0.01%
SPXW US 12/05/25 P5775 SPXW Dec 2025 5775 Put 1 0.01%
SPXW US 12/05/25 P5900 SPXW Dec 2025 5900 Put 1 0.01%
SPXW US 12/05/25 P6000 SPXW Dec 2025 6000 Put -1 -0.02%
SPXW US 12/05/25 P6075 SPXW Dec 2025 6075 Put -1 -0.02%
SPXW US 12/05/25 P6200 SPXW Dec 2025 6200 Put -1 -0.03%
- Estimated Cash 7,529 0.13%

Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date Record Date Payable Date Total Distribution
N/A
$0.05000
$0.00000
View Distribution History
S19(a) Notices 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.
S19(a) Notices Close
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.

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