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.
Fund Overview
As of 06/12/2026
Ticker Symbol
LITL
Expense Ratio
0.91%
CUSIP
82889N327
Total Assets
$6,521,766.52
Shares Outstanding
200,001
Distribution Rate as of 05/31/2026
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.1.90%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 05/31/2026
-
30-Day SEC Yield (Unsubsidized) as of 05/31/2026
0.27%
Options Available
No
Inception Date
04/28/2025
Premium/Discount (%) as of 06/12/2026
-0.03%
NAV Per Share as of 06/12/2026
$32.61
Market Price as of 06/12/2026
$32.60
30-Day Median Bid-Ask Spread
0.70%
Bid/Ask
$32.52/$32.72
Midpoint Price
$32.62
Volume
94
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 05/31/2026 03/31/2026
| Cumulative | 1 Month | 3 Month | 6 Month | YTD | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|---|---|---|---|
| NAV | 0.98% | 4.44% | 8.83% | 7.75% | 22.01% | — | — | 28.50% |
| Market Price | 1.06% | 4.84% | 8.99% | 7.86% | 21.84% | — | — | 28.00% |
| Annualized | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | 22.01% | — | — | 25.85% |
| Market Price | 21.84% | — | — | 25.47% |
| Cumulative | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | — | — | — | 16.03% |
| Market Price | — | — | — | 15.35% |
| Annualized | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | — | — | — | — |
| Market Price | — | — | — | — |
| 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 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
| Ticker | Name | Quantity | Weight |
|---|---|---|---|
| ACIW | ACI WORLDWIDE INC USD 0.005 | 899 | 0.62% |
| ADAM | ADAMAS TRUST INC | 4,267 | 0.61% |
| AGX | ARGAN INC USD 0.15 | 64 | 0.63% |
| ALHC | ALIGNMENT HEALTHCARE INC USD 0.001 | 2,715 | 0.82% |
| ALKS | ALKERMES PLC USD 0.01 | 931 | 0.63% |
| AMSC | AMERICAN SUPERCONDUCTOR CO USD 0.01 | 829 | 0.51% |
| ANF | ABERCROMBIE + FITCH CO USD 0.01 | 508 | 0.71% |
| ARDT | ARDENT HEALTH INC | 4,252 | 0.61% |
| ARHS | ARHAUS INC USD 0.001 | 5,798 | 0.64% |
| ARWR | ARROWHEAD PHARMACEUTICALS USD 0.001 | 503 | 0.57% |
| ATEX | ANTERIX INC USD 0.0001 | 664 | 0.84% |
| ATLC | ATLANTICUS HLDGS CORP NPV | 493 | 0.70% |
| ATMU | ATMUS FILTRATION TECHNOL USD 0.0001 | 838 | 0.64% |
| AUPH | AURINIA PHARMACEUTICALS INC NPV | 2,762 | 0.67% |
| AVAH | AVEANNA HEALTHCARE HLDGS I USD 0.01 | 5,474 | 0.60% |
| AZZ | AZZ INC USD 1.0 | 311 | 0.72% |
| BBW | BUILD-A-BEAR WORKSHOP INC USD 0.01 | 1,054 | 0.52% |
| BFH | BREAD FINL HLDGS INC USD 0.01 | 477 | 0.74% |
| BLBD | BLUE BIRD CORP USD 0.0001 | 627 | 0.69% |
| BLX | BANCO LATINOAMERICANO DE COMERC NPV | 761 | 0.71% |
| BTSG | BRIGHTSPRING HEALTH SVCS USD 100.0 | 689 | 0.67% |
| BYND | BEYOND MEAT INC USD 0.0001 | 49,780 | 0.52% |
| CALM | CAL MAINE FOODS INC USD 0.01 | 566 | 0.68% |
| CARG | CARGURUS INC USD 0.001 | 1,315 | 0.55% |
| CBL | CBL + ASSO COM USD0.01 | 884 | 0.67% |
| CDNA | CAREDX INC USD 0.001 | 1,720 | 0.61% |
| CECO | CECO ENVIRONMENTAL CORP USD 0.01 | 566 | 0.84% |
| CIVB | CIVISTA BANCSHARES INC NPV | 1,639 | 0.68% |
| CMCL | CALEDONIA MINING CORP PLC NPV | 1,652 | 0.51% |
| CMPR | CIMPRESS PLC EUR 0.01 | 431 | 0.59% |
| CMRE | COSTAMARE INC USD 0.0001 | 2,553 | 0.65% |
| CNK | CINEMARK HLDGS INC USD 0.001 | 1,513 | 0.78% |
| COLL | COLLEGIUM PHARMACEUTICAL USD 0.001 | 1,168 | 0.62% |
| CON | CONCENTRA GROUP HLDGS PARE USD 0.01 | 1,578 | 0.68% |
| CPRX | CATALYST PHARMACEUTICALS USD 0.001 | 1,361 | 0.65% |
| CRMD | CORMEDIX INC USD 0.001 | 4,651 | 0.62% |
| CRVL | CORVEL CORP USD 0.0001 | 688 | 0.64% |
| CSTM | CONSTELLIUM SE EUR 0.02 | 1,241 | 0.68% |
| CSV | CARRIAGE SVCS INC USD 0.01 | 954 | 0.59% |
| CVLT | COMMVAULT SYS INC USD 0.01 | 358 | 0.70% |
| DAVE | DAVE INC USD 0.0001 | 151 | 0.66% |
| DCTH | DELCATH SYS INC USD 0.01 | 3,644 | 0.65% |
| DDD | 3D SYS CORP DEL USD 0.001 | 11,010 | 0.51% |
| DEC | DIVERSIFIED ENERGY CO 1P GDR | 2,698 | 0.57% |
| DHT | DHT HOLDINGS INC USD 0.01 | 2,569 | 0.69% |
| DJCO | DAILY JOURNAL CORP USD 0.01 | 82 | 0.70% |
| DOCN | DIGITALOCEAN HLDGS INC USD 0.000025 | 252 | 0.66% |
| DRH | DIAMONDROC COM USD0.01 | 3,869 | 0.71% |
| DY | DYCOM INDS INC USD 0.333333 | 76 | 0.55% |
| EAT | BRINKER INTL INC USD 0.1 | 297 | 0.73% |
| ECPG | ENCORE CAPITAL GROUP INC. USD 0.01 | 528 | 0.66% |
| ENR | ENERGIZER HLDGS INC NEW USD 0.01 | 2,312 | 0.72% |
| EVER | EVERQUOTE INC USD 0.001 | 2,210 | 0.68% |
| FBP | FIRST BANCORP P R USD 0.1 | 1,765 | 0.69% |
| FRAF | FRANKLIN FINL SVCS CORP USD 1.0 | 729 | 0.68% |
| FRST | PRIMIS FINL CORP USD 0.01 | 2,721 | 0.66% |
| FSS | FEDERAL SIGNAL CORP USD 1.0 | 394 | 0.66% |
| GCT | GIGACLOUD TECHNOLOGY INC USD 0.05 | 1,157 | 0.60% |
| GRND | GRINDR INC USD 0.0001 | 3,140 | 0.56% |
| GTX | GARRETT MOTION INC USD 0.001 | 1,297 | 0.67% |
| HCI | HCI GROUP INC NPV | 275 | 0.68% |
| HG | HAMILTON INSURANCE GROUP L USD 0.01 | 1,423 | 0.70% |
| HLF | HERBALIFE NUTRITION LTD USD 0.002 | 3,283 | 0.61% |
| INDV | INDIVIOR PHARMACEUTICALS USD 0.001 | 1,171 | 0.69% |
| INSW | INTERNATIONAL SEAWAYS INC NPV | 545 | 0.69% |
| INVA | INNOVIVA INC USD 0.01 | 1,965 | 0.69% |
| JOE | ST JOE CO NPV | 667 | 0.66% |
| KALU | KAISER ALUM CORP USD 0.01 | 234 | 0.68% |
| KFRC | KFORCE INC USD 0.01 | 905 | 0.69% |
| KRYS | KRYSTAL BIOTECH INC USD 0.00001 | 128 | 0.62% |
| KSS | KOHLS CORP USD 0.01 | 2,735 | 0.76% |
| LAUR | LAUREATE ED INC USD 0.001 | 1,327 | 0.75% |
| LFST | LIFESTANCE HEALTH GROUP IN USD 0.01 | 5,092 | 0.66% |
| LGIH | LGI HOMES INC USD 0.01 | 884 | 0.73% |
| LIF | LIFE360 INC USD 0.001 | 992 | 0.69% |
| LMAT | LEMAITRE VASCULAR INC USD 0.01 | 443 | 0.62% |
| LPG | DORIAN LPG LTD USD 0.01 | 975 | 0.68% |
| MATX | MATSON INC NPV | 235 | 0.73% |
| MCRI | MONARCH CASINO + RESORT IN USD 0.01 | 352 | 0.70% |
| MCY | MERCURY GEN CORP NEW NPV | 432 | 0.67% |
| MD | PEDIATRIX MEDICAL GROUP IN USD 0.01 | 1,823 | 0.68% |
| MGEE | MGE ENERGY INC USD 1.0 | 519 | 0.62% |
| MLAB | MESA LABS INC NPV | 384 | 0.62% |
| MRX | MAREX GROUP PLC NPV | 800 | 0.76% |
| MYE | MYERS INDS INC NPV | 1,721 | 0.72% |
| MYRG | MYR GROUP INC DEL USD 0.01 | 84 | 0.57% |
| NBN | NORTHEAST BK PORTLAND ME USD 1.0 | 336 | 0.67% |
| NBR | NABORS INDUSTRIES LTD USD 0.001 | 423 | 0.66% |
| NHC | NATIONAL HEALTHCARE CORP USD 0.01 | 230 | 0.70% |
| NJR | NEW JERSEY RES CORP USD 2.5 | 765 | 0.65% |
| NMRK | NEWMARK GROUP INC USD 0.01 | 2,810 | 0.65% |
| NSIT | INSIGHT ENTERPRISES INC USD 0.01 | 368 | 0.63% |
| NSSC | NAPCO SEC TECHNOLOGIES INC USD 0.01 | 1,046 | 0.60% |
| NUTX | NUTEX HEALTH INC NPV | 326 | 0.72% |
| NVEC | NVE CORP USD 0.01 | 434 | 0.78% |
| NWPX | NWPX INFRASTRUCTURE INC USD 0.01 | 360 | 0.71% |
| OFG | OFG BANCORP USD 1.0 | 930 | 0.69% |
| OMDA | OMADA HEALTH INC USD 0.001 | 2,365 | 0.62% |
| OMER | OMEROS CORP USD 0.01 | 3,555 | 0.48% |
| OUT | OUTFRONT M COM USD0.01(POST REV SPL | 1,218 | 0.59% |
| PACS | PACS GROUP INC USD 0.001 | 1,160 | 0.65% |
| PBI | PITNEY BOWES INC USD 1.0 | 2,636 | 0.70% |
| PD | PAGERDUTY INC USD 0.000005 | 4,273 | 0.59% |
| PEBK | PEOPLES BANCORP N C INC NPV | 932 | 0.63% |
| PFBC | PREFERRED BK LOS ANGELES CALIF NPV | 443 | 0.69% |
| PGNY | PROGYNY INC USD 0.0001 | 1,537 | 0.63% |
| PGY | PAGAYA TECHNOLOGIES LTD USD 0.0001 | 2,597 | 0.61% |
| PKBK | PARKE BANCORP INC USD 0.1 | 1,379 | 0.68% |
| PLBC | PLUMAS BANCORP NPV | 746 | 0.65% |
| PLOW | DOUGLAS DYNAMICS INC USD 0.01 | 948 | 0.69% |
| PNTG | PENNANT GROUP INC USD 0.001 | 1,146 | 0.58% |
| PRTH | PRIORITY TECHNOLOGY HLDGS USD 0.001 | 6,143 | 0.58% |
| PTCT | PTC THERAPEUTICS INC USD 0.001 | 531 | 0.61% |
| QLYS | QUALYS INC USD 0.001 | 359 | 0.61% |
| RBCAA | REPUBLIC BANCORP INC KY NPV | 525 | 0.71% |
| RM | REGIONAL MGMT CORP USD 0.1 | 1,157 | 0.66% |
| RUN | SUNRUN INC USD 0.0001 | 2,542 | 0.50% |
| SANM | SANMINA CORP USD 0.01 | 151 | 0.59% |
| SCHL | SCHOLASTIC CORP USD 0.01 | 970 | 0.65% |
| SD | SANDRIDGE ENERGY INC USD 0.001 | 2,677 | 0.62% |
| SENEA | SENECA FOODS CORP NEW USD 0.25 | 295 | 0.79% |
| SITC | SITE CTRS CORP | 8,330 | 0.63% |
| SLDE | SLIDE INS HLDGS INC USD 0.01 | 2,344 | 0.60% |
| SM | SM ENERGY CO USD 0.01 | 1,277 | 0.61% |
| SPIR | SPIRE GLOBAL INC NPV | 1,718 | 0.48% |
| STRL | STERLING INFRASTRUCTURE IN USD 0.01 | 49 | 0.65% |
| TK | TEEKAY CORP LTD USD 0.001 | 3,423 | 0.65% |
| TMHC | TAYLOR MORRISON HOME CO USD 0.00001 | 671 | 0.74% |
| TMP | TOMPKINS FINL CORP USD 0.1 | 492 | 0.69% |
| TRNO | TERRENO RE COM USD0.01 | 645 | 0.67% |
| TRS | TRIMAS CORP USD 0.01 | 1,038 | 0.66% |
| TSSI | TSS INC DEL USD 0.0001 | 2,579 | 0.51% |
| UFCS | UNITED FIRE GROUP INC USD 0.001 | 885 | 0.66% |
| UPWK | UPWORK INC USD 0.0001 | 4,451 | 0.58% |
| URBN | URBAN OUTFITTERS INC USD 0.0001 | 585 | 0.69% |
| UVE | UNIVERSAL INS HLDGS INC USD 0.01 | 1,137 | 0.66% |
| VCYT | VERACYTE INC USD 0.001 | 917 | 0.67% |
| VLGEA | VILLAGE SUPER MKT INC NPV | 915 | 0.58% |
| VTEX | VTEX USD 0.0001 | 11,195 | 0.62% |
| WLDN | WILLDAN GROUP INC USD 0.01 | 468 | 0.69% |
| WWW | WOLVERINE WORLD WIDE INC USD 1.0 | 2,237 | 0.62% |
| XOMA | XOMA RTY CORP USD 0.0005 | 1,015 | 0.65% |
| YOU | CLEAR SECURE INC USD 0.00001 | 708 | 0.55% |
| ZVRA | ZEVRA THERAPEUTICS INC USD 0.0001 | 3,387 | 0.66% |
| SPXW US 06/17/26 C7575 | SPXW Jun 2026 7575 Call | 4 | 0.03% |
| SPXW US 07/17/26 C7650 | SPXW Jul 2026 7650 Call | 1 | 0.07% |
| SPXW US 07/17/26 C7700 | SPXW Jul 2026 7700 Call | 1 | 0.05% |
| SPXW US 07/17/26 C7850 | SPXW Jul 2026 7850 Call | 2 | 0.03% |
| SPXW US 07/31/26 C7900 | SPXW Jul 2026 7900 Call | 1 | 0.03% |
| SPXW US 08/21/26 C7950 | SPXW Aug 2026 7950 Call | 1 | 0.05% |
| SPXW US 08/21/26 C8000 | SPXW Aug 2026 8000 Call | 1 | 0.04% |
| - | TRS SBAR SOFR +95 061527 | 133,460 | 52.10% |
| - | TRS SBAR SOFR +93 051427 | 31,757 | 12.40% |
| - | TRS SBAR SOFR +93 051427 | -810,276 | -12.42% |
| - | TRS SBAR SOFR +95 061527 | -3,398,484 | -52.11% |
| T Bills | UNITED STS TREAS BILLS 0.0 01SEP26 | 80,000 | 1.22% |
| T Bills | UNITED STS TREAS BILLS 0.0 15OCT26 | 200,000 | 3.03% |
| T Bills | UNITED STS TREAS BILLS 0.0 03DEC26 | 70,000 | 1.05% |
| - | Estimated Cash | 40,683 | 0.62% |
Holdings are subject to change without notice.
Recent Distributions
| Ex-Dividend Date | Record Date | Payable Date | Total Distribution |
|---|---|---|---|
| N/A | |||
| $0.05000 | |||
| $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.
