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 09/15/2026
Ticker Symbol
LITL
Expense Ratio
0.91%
CUSIP
82889N327
Total Assets
$6,662,465.62
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 09/15/2026
0.23%
NAV Per Share as of 09/15/2026
$33.31
Market Price as of 09/15/2026
$33.39
30-Day Median Bid-Ask Spread
0.41%
Bid/Ask
$33.36/$33.50
Midpoint Price
$33.43
Volume
2,044
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 08/31/2026 06/30/2026
| Cumulative | 1 Month | 3 Month | 6 Month | YTD | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|---|---|---|---|
| NAV | 0.75% | 7.66% | 12.44% | 16.01% | 20.80% | — | — | 38.34% |
| Market Price | 0.77% | 7.47% | 12.67% | 15.91% | 20.70% | — | — | 37.56% |
| Annualized | 1 Year | 3 Year | 5 Year | Since Inception |
|---|---|---|---|---|
| NAV | 20.80% | — | — | 27.35% |
| Market Price | 20.70% | — | — | 26.87% |
| 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 | 187 | 0.58% |
| ACAD | ACADIA PHARMACEUTICALS I USD 0.0001 | 1,358 | 0.55% |
| ACLS | AXCELIS TECHNOLOGIES INC USD 0.001 | 342 | 0.54% |
| ADAM | ADAMAS TRUST INC | 4,034 | 0.54% |
| AEO | AMERICAN EAGLE OUTFITTERS USD 0.01 | 2,343 | 0.52% |
| AGM | FEDERAL AGRIC MTG CORP USD 1.0 | 179 | 0.60% |
| AII | AMERICAN INTEGRITY INS GR USD 0.001 | 1,502 | 0.59% |
| ALHC | ALIGNMENT HEALTHCARE INC USD 0.001 | 2,902 | 0.45% |
| ALRM | ALARM COM HLDGS INC NPV | 688 | 0.57% |
| AMPH | AMPHASTAR PHARMACEUTICAL USD 0.0001 | 1,796 | 0.64% |
| ANF | ABERCROMBIE + FITCH CO USD 0.01 | 266 | 0.54% |
| ARLO | ARLO TECHNOLOGIES INC USD 0.001 | 3,067 | 0.62% |
| ARQT | ARCUTIS BIOTHERAPEUTICS USD 0.0001 | 1,662 | 0.59% |
| ASTH | ASTRANA HEALTH INC USD 0.001 | 1,041 | 0.60% |
| AVAH | AVEANNA HEALTHCARE HLDGS I USD 0.01 | 2,968 | 0.64% |
| BELFB | BEL FUSE INC USD 0.1 | 159 | 0.55% |
| BFH | BREAD FINL HLDGS INC USD 0.01 | 374 | 0.60% |
| BFS | SAUL CENTE COM USD0.01 | 1,188 | 0.55% |
| BKE | BUCKLE INC USD 0.01 | 910 | 0.54% |
| BLFS | BIOLIFE SOLUTIONS INC USD 0.001 | 1,087 | 0.59% |
| BTSG | BRIGHTSPRING HEALTH SVCS USD 100.0 | 669 | 0.59% |
| BWFG | BANKWELL FINL GROUP INC NPV | 594 | 0.60% |
| CAKE | CHEESECAKE FACTORY INC USD 0.01 | 353 | 0.51% |
| CARG | CARGURUS INC USD 0.001 | 1,081 | 0.57% |
| CBL | CBL + ASSO COM USD0.01 | 718 | 0.57% |
| CCS | CENTURY CMNTYS INC USD 0.01 | 572 | 0.53% |
| CDNA | CAREDX INC USD 0.001 | 794 | 0.63% |
| CDP | CORP OFFICE PROPS USD0.01 | 1,080 | 0.56% |
| CHEF | CHEFS WHSE INC USD 0.01 | 344 | 0.55% |
| CMC | COMMERCIAL METALS CO USD 0.01 | 585 | 0.57% |
| CNK | CINEMARK HLDGS INC USD 0.001 | 1,098 | 0.56% |
| CNX | CNX RES CORP USD 0.01 | 1,092 | 0.58% |
| CNXN | PC CONNECTION INC USD 0.01 | 496 | 0.63% |
| COCO | VITA COCO CO INC USD 0.01 | 641 | 0.54% |
| CON | CONCENTRA GROUP HLDGS PARE USD 0.01 | 1,154 | 0.62% |
| CRCT | CRICUT INC USD 0.001 | 6,816 | 0.58% |
| CRVL | CORVEL CORP USD 0.0001 | 571 | 0.61% |
| CSTM | CONSTELLIUM SE EUR 0.02 | 1,465 | 0.56% |
| CTS | CTS CORP NPV | 699 | 0.60% |
| CZFS | CITIZENS FINL SVCS INC USD 1.0 | 488 | 0.61% |
| DAKT | DAKTRONICS INC NPV | 2,048 | 0.55% |
| DCTH | DELCATH SYS INC USD 0.01 | 2,419 | 0.59% |
| DDD | 3D SYS CORP DEL USD 0.001 | 12,052 | 0.57% |
| DEC | DIVERSIFIED ENERGY CO 1P GDR | 2,680 | 0.60% |
| DHT | DHT HOLDINGS INC USD 0.01 | 2,011 | 0.67% |
| DRUG | BRIGHT MINDS BIOSCIENCES INC NPV | 543 | 0.49% |
| DXPE | DXP ENTERP COM USD0.01 | 213 | 0.57% |
| ECPG | ENCORE CAPITAL GROUP INC. USD 0.01 | 400 | 0.59% |
| EFC | ELLINGTON COM NPV | 2,913 | 0.55% |
| ELMD | ELECTROMED INC USD 0.01 | 1,336 | 0.53% |
| ELMT | ELMET GROUP CO USD 0.001 | 2,376 | 0.70% |
| EMBC | EMBECTA CORP USD 0.01 | 7,828 | 0.60% |
| ENS | ENERSYS USD 0.01 | 213 | 0.55% |
| ESNT | ESSENT GROUP LTD USD 0.015 | 574 | 0.59% |
| ETON | ETON PHARMACEUTICALS INC USD 0.001 | 661 | 0.54% |
| FBIZ | FIRST BUSINESS FINL SVCS I USD 0.01 | 558 | 0.61% |
| FBP | FIRST BANCORP P R USD 0.1 | 1,411 | 0.60% |
| FIGS | FIGS INC USD 0.0001 | 2,564 | 0.51% |
| FISI | FINANCIAL INSTNS INC USD 0.01 | 965 | 0.59% |
| FLXS | FLEXSTEEL INDS INC USD 1.0 | 483 | 0.60% |
| FRSH | FRESHWORKS INC USD 0.00001 | 2,852 | 0.54% |
| FSS | FEDERAL SIGNAL CORP USD 1.0 | 335 | 0.57% |
| FTK | FLOTEK INDS INC DEL USD 0.0001 | 1,652 | 0.67% |
| GCT | GIGACLOUD TECHNOLOGY INC USD 0.05 | 747 | 0.59% |
| GEF | GREIF BROS CORP NPV | 470 | 0.57% |
| GKOS | GLAUKOS CORP USD 0.001 | 220 | 0.57% |
| GOLD | GOLD.COM, INC | 868 | 0.61% |
| GRBK | GREEN BRICK PARTNERS INC USD 0.01 | 539 | 0.54% |
| GRDN | GUARDIAN PHARMACY SVCS INC USD 0.01 | 1,067 | 0.77% |
| HCI | HCI GROUP INC NPV | 212 | 0.59% |
| HCSG | HEALTHCARE SVCS GROUP INC USD 0.01 | 1,762 | 0.58% |
| HG | HAMILTON INSURANCE GROUP L USD 0.01 | 1,118 | 0.59% |
| HIPO | HIPPO HLDGS INC USD 0.0001 | 1,191 | 0.58% |
| HRMY | HARMONY BIOSCIENCES HLD USD 0.00001 | 1,008 | 0.64% |
| HRTG | HERITAGE INS HLDGS INC USD 0.0001 | 1,167 | 0.61% |
| HURN | HURON CONSULTING GROUP INC USD 0.01 | 247 | 0.57% |
| IA | INNOVATIVE SOLUTIONS + SU USD 0.001 | 1,914 | 0.53% |
| ICUI | ICU MED INC USD 0.1 | 226 | 0.53% |
| IDCC | INTERDIGITAL INC PA USD 0.01 | 118 | 0.58% |
| INDV | INDIVIOR PHARMACEUTICALS USD 0.001 | 1,134 | 0.58% |
| INOD | INNODATA INC USD 0.01 | 699 | 0.57% |
| INSP | INSPIRE MED SYS INC USD 0.001 | 643 | 0.72% |
| INSW | INTERNATIONAL SEAWAYS INC NPV | 400 | 0.65% |
| IRMD | IRADIMED CORP USD 0.0001 | 454 | 0.56% |
| ITRI | ITRON INC COM NPV | 405 | 0.56% |
| JCAP | JEFFERSON CAP INC DEL USD 0.0001 | 1,874 | 0.59% |
| JOE | ST JOE CO NPV | 587 | 0.57% |
| KALU | KAISER ALUM CORP USD 0.01 | 253 | 0.57% |
| KNTK | KINETIK HLDGS INC USD 0.0001 | 735 | 0.60% |
| KSS | KOHLS CORP USD 0.01 | 2,259 | 0.55% |
| LFST | LIFESTANCE HEALTH GROUP IN USD 0.01 | 3,211 | 0.63% |
| LIF | LIFE360 INC USD 0.001 | 909 | 0.58% |
| LNTH | LANTHEUS HLDGS INC USD 0.01 | 392 | 0.59% |
| LQDT | LIQUIDITY SVCS INC USD 0.001 | 953 | 0.62% |
| LRN | STRIDE INC USD 0.0001 | 455 | 0.57% |
| MATX | MATSON INC NPV | 176 | 0.63% |
| MAX | MEDIAALPHA INC USD 0.01 | 3,076 | 0.53% |
| MCY | MERCURY GEN CORP NEW NPV | 384 | 0.59% |
| MD | PEDIATRIX MEDICAL GROUP IN USD 0.01 | 1,486 | 0.60% |
| MGNI | MAGNITE INC USD 0.00001 | 1,668 | 0.59% |
| MGRC | MCGRATH RENTCORP NPV | 352 | 0.59% |
| MMSI | MERIT MEDI COM NPV | 437 | 0.57% |
| MRX | MAREX GROUP LTD NPV | 543 | 0.56% |
| MSGE | MADISON SQUARE GARDEN ENTM USD 0.01 | 505 | 0.61% |
| MYE | MYERS INDS INC NPV | 1,205 | 0.54% |
| NGVC | NATURAL GROCERS BY VITAMI USD 0.001 | 1,439 | 0.62% |
| NHC | NATIONAL HEALTHCARE CORP USD 0.01 | 178 | 0.61% |
| NMIH | NMI HLDGS INC USD 0.01 | 882 | 0.58% |
| NRIM | NORTHRIM BANCORP INC USD 1.0 | 1,541 | 0.60% |
| NSIT | INSIGHT ENTERPRISES INC USD 0.01 | 254 | 0.61% |
| NSSC | NAPCO SEC TECHNOLOGIES INC USD 0.01 | 1,118 | 0.60% |
| NUTX | NUTEX HEALTH INC NPV | 209 | 0.68% |
| NVEC | NVE CORP USD 0.01 | 392 | 0.57% |
| ODC | OIL DRI CORP AMER USD 0.1 | 431 | 0.56% |
| OFG | OFG BANCORP USD 1.0 | 754 | 0.60% |
| OII | OCEANEERING INTL INC USD 0.25 | 781 | 0.56% |
| OMER | OMEROS CORP USD 0.01 | 2,124 | 0.55% |
| OPCH | OPTION CARE HEALTH INC USD 0.0001 | 1,654 | 0.58% |
| OSPN | ONESPAN INC USD 0.001 | 2,390 | 0.64% |
| OTTR | OTTER TAIL COM USD5 | 435 | 0.58% |
| OUT | OUTFRONT M COM USD0.01(POST REV SPL | 1,336 | 0.56% |
| PACS | PACS GROUP INC USD 0.001 | 925 | 0.58% |
| PAHC | PHIBRO ANIMAL HEALTH CORP USD 0.001 | 1,049 | 0.55% |
| PARR | PAR PACIFIC HOLDINGS INC 0.01 | 501 | 0.63% |
| PAYS | PAYSIGN INC NPV | 3,067 | 0.56% |
| PD | PAGERDUTY INC USD 0.000005 | 2,858 | 0.62% |
| PDEX | PRO-DEX INC COLO NPV | 632 | 0.63% |
| PENG | PENGUIN SOLUTIONS INC DEL USD 0.01 | 798 | 0.57% |
| PLAB | PHOTRONICS INC USD 0.01 | 1,426 | 0.58% |
| PLXS | PLEXUS COR COM USD0.01 | 164 | 0.59% |
| PNTG | PENNANT GROUP INC USD 0.001 | 1,066 | 0.64% |
| PRG | PROG HLDGS INC USD 0.5 | 1,011 | 0.55% |
| PRGS | PROGRESS S COM USD0.01 | 883 | 0.58% |
| PSIX | POWER SOLUTIONS INTL INC USD 0.001 | 1,090 | 0.64% |
| QLYS | QUALYS INC USD 0.001 | 211 | 0.59% |
| REX | REX AMERICAN RES CORP USD 0.01 | 956 | 0.61% |
| RHLD | RESOLUTE HLDGS MGMT INC USD 0.0001 | 292 | 0.54% |
| RILY | BRC GROUP HLDGS INC USD 0.0001 | 5,607 | 0.50% |
| RPD | RAPID7 INC USD 0.01 | 2,974 | 0.56% |
| RUN | SUNRUN INC USD 0.0001 | 4,502 | 0.57% |
| SCSC | SCANSOURCE COM NPV | 699 | 0.60% |
| SIG | SIGNET JEWELERS LIMITED USD0.18 | 478 | 0.72% |
| SLDE | SLIDE INS HLDGS INC USD 0.01 | 1,684 | 0.67% |
| SPB | SPECTRUM BRANDS HLDGS INC USD 0.01 | 446 | 0.57% |
| SPNT | SIRIUSPOINT LTD USD 0.1 | 1,635 | 0.61% |
| SRCE | 1ST SOURCE CORP NPV | 457 | 0.60% |
| TDS | TELEPHONE + DATA SYS INC USD 0.01 | 1,175 | 0.67% |
| THFF | FIRST FINL CORP IND NPV | 499 | 0.58% |
| TK | TEEKAY CORP LTD USD 0.001 | 3,029 | 0.65% |
| TMP | TOMPKINS FINL CORP USD 0.1 | 404 | 0.60% |
| TNK | TEEKAY TANKERS LTD USD 0.01 | 446 | 0.66% |
| TRNO | TERRENO RE COM USD0.01 | 594 | 0.58% |
| UFCS | UNITED FIRE GROUP INC USD 0.001 | 732 | 0.60% |
| UVE | UNIVERSAL INS HLDGS INC USD 0.01 | 910 | 0.60% |
| VCYT | VERACYTE INC USD 0.001 | 912 | 0.55% |
| VGNT | VERSIGENT PLC USD 0.01 | 820 | 0.56% |
| VSXY | VICTORIAS SECRET + CO USD 0.01 | 450 | 0.49% |
| WLFC | WILLIS LEASE FIN CORP USD 0.01 | 740 | 0.60% |
| WLY | WILEY JOHN CLASS A COM USD 1 | 736 | 0.54% |
| WWW | WOLVERINE WORLD WIDE INC USD 1.0 | 1,944 | 0.56% |
| YOU | CLEAR SECURE INC USD 0.00001 | 910 | 0.57% |
| ZVRA | ZEVRA THERAPEUTICS INC USD 0.0001 | 3,418 | 0.60% |
| SPXW | SEPTEMBER 26 CALLS ON SPX 7975.0000 | 2 | 0.00% |
| SPXW | SEPTEMBER 26 CALLS ON SPX 7950.0000 | 2 | 0.00% |
| SPXW | SEPTEMBER 26 CALLS ON SPX 8100.0000 | 1 | 0.00% |
| SPXW | SEPTEMBER 26 CALLS ON SPX 8100.0000 | 2 | 0.00% |
| SPXW | OCTOBER 26 CALLS ON SPX 7860.000000 | 1 | 0.03% |
| SPXW | OCTOBER 26 CALLS ON SPX 7900.000000 | 1 | 0.02% |
| SPXW | NOVEMBER 26 CALLS ON SPX 8150.00000 | 1 | 0.03% |
| SPXW | NOVEMBER 26 CALLS ON SPX 8250.00000 | 1 | 0.01% |
| SPXW | NOVEMBER 26 CALLS ON SPX 8350.00000 | 1 | 0.01% |
| SPXW | NOVEMBER 26 CALLS ON SPX 8250.00000 | 2 | 0.04% |
| SPXW | DECEMBER 26 CALLS ON SPX 8250.00000 | 1 | 0.04% |
| - | TRS SBAR SOFR +95 061527 | 133,460 | 50.88% |
| - | TRS SBAR SOFR +93 051427 | 31,757 | 12.11% |
| - | TRS SBAR SOFR +93 051427 | -818,695 | -12.29% |
| - | TRS SBAR SOFR +95 061527 | -3,440,598 | -51.64% |
| T Bills | UNITED STS TREAS BILLS 0.0 15OCT26 | 100,000 | 1.50% |
| T Bills | UNITED STS TREAS BILLS 0.0 03DEC26 | 70,000 | 1.04% |
| T Bills | UNITED STS TREAS BILLS 0.0 31DEC26 | 80,000 | 1.19% |
| T Bills | UNITED STS TREAS BILLS 0.0 28JAN27 | 50,000 | 0.74% |
| T Bills | UNITED STS TREAS BILLS 0.0 11MAR27 | 50,000 | 0.74% |
| - | Estimated Cash | 45,330 | 0.68% |
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.
