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LITL

Simplify Piper Sandler US Small-Cap PLUS Income ETF

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As of 03/18/2026

NAV

$ 28.56

NAV Change

- $ 0.46 /1.59%

Price

$ 28.55

Price Change

- $ 0.46 /1.59%

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 03/18/2026

Ticker Symbol
LITL
Expense Ratio
0.91%
CUSIP
82889N327
Total Assets
$5,711,481.55
Shares Outstanding
200,001
Distribution Rate as of 02/28/2026 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.
1.98%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 02/28/2026
-
30-Day SEC Yield (Unsubsidized) as of 02/28/2026
0.12%
Options Available
No
Inception Date
04/28/2025
Premium/Discount (%) as of 03/18/2026
-0.03%
NAV Per Share as of 03/18/2026
$28.56
Market Price as of 03/18/2026
$28.55
30-Day Median Bid-Ask Spread
0.40%
Bid/Ask
$28.50/$28.62
Midpoint Price
$28.56
Volume
7,520
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 78% 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 02/28/2026 12/31/2025

Monthly Quarterly Annually
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV 0.97% 4.19% 7.42% 3.17% — 23.03%
Market Price 0.80% 3.96% 7.12% 2.88% — 22.09%
Annualized 1 Year 3 Year Since Inception
NAV — — —
Market Price — — —
Cumulative 1 Year Since Inception
NAV — 19.25%
Market Price — 18.67%
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. 

Historical Premium/Discount

Calendar Year 2025 4th Quarter of 2025
Days Traded at Premium
142
49
Days Traded at Discount
29
15
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 03/18/2026

Holdings - All ETFs
Ticker Name Quantity Weight
IWM ISHARES RUSSELL 2000 ETF 336 1.45%
ABEO ABEONA THERAPEUTICS INC USD 0.01 7,646 0.61%
ACIC AMERICAN COASTAL INS COR USD 0.0001 3,439 0.68%
ACT ENACT HLDGS INC USD 0.01 936 0.66%
ADMA ADMA BIOLOGICS INC USD 0.0001 2,514 0.65%
AII AMERICAN INTEGRITY INS GR USD 0.001 1,925 0.65%
ALHC ALIGNMENT HEALTHCARE INC USD 0.001 2,037 0.65%
ALRS ALERUS FINL CORP USD 1.0 1,642 0.67%
ALX ALEXANDERS COM USD1 167 0.71%
AMAL AMALGAMATED FINL CORP USD 0.01 1,017 0.66%
ANF ABERCROMBIE + FITCH CO USD 0.01 400 0.60%
ANIP ANI PHARMACEUTICALS INC USD 0.0001 530 0.69%
APAM ARTISAN PARTNERS ASSET MGM USD 0.01 972 0.61%
APEI AMERICAN PUB ED INC USD 0.01 2 0.00%
APPN APPIAN CORP USD 0.0001 1,468 0.65%
AROC ARCHROCK INC USD 0.01 1,108 0.69%
ASO ACADEMY SPORTS + OUTDOORS USD 0.01 1 0.00%
ATEN A10 NETWORKS INC USD 0.00001 2,033 0.76%
ATEX ANTERIX INC USD 0.0001 1,062 0.71%
ATMU ATMUS FILTRATION TECHNOL USD 0.0001 607 0.60%
ATRC ATRICURE INC USD 0.001 1,252 0.63%
AVAH AVEANNA HEALTHCARE HLDGS I USD 0.01 5,319 0.64%
AWR AMERICAN STS WTR CO NPV 525 0.67%
AX AXOS FINL INC USD 0.01 451 0.65%
AZZ AZZ INC USD 1.0 288 0.62%
BCC BOISE CASCADE CO USD 0.01 473 0.59%
BCRX BIOCRYST PHARMACEUTICALS I USD 0.01 1 0.00%
BELFB BEL FUSE INC USD 0.1 170 0.61%
BFH BREAD FINL HLDGS INC USD 0.01 552 0.69%
BLBD BLUE BIRD CORP USD 0.0001 673 0.64%
BLFS BIOLIFE SOLUTIONS INC USD 0.001 1,618 0.54%
BTBT BIT DIGITAL INC USD 0.01 23,443 0.66%
CBL CBL + ASSO COM USD0.01 1,037 0.68%
CCSI CONSENSUS CLOUD SOLUTIONS USD 0.01 1,302 0.64%
CENT CENTRAL GARDEN + PET CO USD 0.01 1,001 0.63%
CIVB CIVISTA BANCSHARES INC NPV 1 0.00%
CMC COMMERCIAL METALS CO USD 0.01 534 0.57%
CPRX CATALYST PHARMACEUTICALS USD 0.001 1,696 0.68%
CRDO CREDO TECHNOLOGY GROUP USD 0.00005 349 0.62%
CRMD CORMEDIX INC USD 0.001 5,491 0.61%
CRVL CORVEL CORP USD 0.0001 759 0.72%
CSTL CASTLE BIOSCIENCES INC USD 0.001 1,324 0.59%
CSTM CONSTELLIUM SE EUR 0.02 1,575 0.68%
CTLP CANTALOUPE INC NPV 3,750 0.69%
CVLT COMMVAULT SYS INC USD 0.01 460 0.65%
DHIL DIAMOND HILL INVT GROUP INC NPV 228 0.69%
DHT DHT HOLDINGS INC USD 0.01 1 0.00%
DJCO DAILY JOURNAL CORP USD 0.01 77 0.66%
DLX DELUXE CORP USD 1.0 1,411 0.65%
DY DYCOM INDS INC USD 0.333333 2 0.01%
EAT BRINKER INTL INC USD 0.1 264 0.65%
EHAB ENHABIT INC USD 0.01 2 0.00%
ENR ENERGIZER HLDGS INC NEW USD 0.01 1,813 0.54%
ENSG ENSIGN GRO COM USD0.001 183 0.66%
ENVA ENOVA INTL INC USD 0.00001 282 0.67%
EVER EVERQUOTE INC USD 0.001 2,478 0.70%
EWCZ EUROPEAN WAX CTR INC USD 0.00001 6,844 0.69%
FBIZ FIRST BUSINESS FINL SVCS I USD 0.01 716 0.65%
FBP FIRST BANCORP P R USD 0.1 1,853 0.66%
FLOC FLOWCO HLDGS INC USD 0.0001 1,735 0.72%
FLR FLUOR CORP NEW USD 0.01 748 0.60%
FPI FARMLAND P COM USD0.01 3,002 0.61%
FTDR FRONTDOOR INC USD 0.01 571 0.60%
FTK FLOTEK INDS INC DEL USD 0.0001 2,550 0.74%
FUBO FUBOTV INC USD 0.0001 33,462 0.67%
GCT GIGACLOUD TECHNOLOGY INC USD 0.05 883 0.66%
GHC GRAHAM HLDGS CO USD 1.0 37 0.69%
GLDD GREAT LAKES DREDGE + DOC USD 0.0001 2,310 0.68%
GRBK GREEN BRICK PARTNERS INC USD 0.01 2 0.00%
GRDN GUARDIAN PHARMACY SVCS INC USD 0.01 1,169 0.69%
GTX GARRETT MOTION INC USD 0.001 1,923 0.58%
HCI HCI GROUP INC NPV 224 0.61%
HG HAMILTON INSURANCE GROUP L USD 0.01 1,240 0.62%
HIPO HIPPO HLDGS INC USD 0.0001 1,361 0.62%
HLF HERBALIFE NUTRITION LTD USD 0.002 2 0.00%
HRTG HERITAGE INS HLDGS INC USD 0.0001 1,406 0.67%
HURN HURON CONSULTING GROUP INC USD 0.01 277 0.61%
IBEX IBEX HOLDINGS LTD USD 0.0001 1,355 0.68%
IBOC INTERNATIONAL BANCSHARES CO USD 1.0 583 0.68%
IBTA IBOTTA INC USD 0.00001 2 0.00%
IDCC INTERDIGITAL INC PA USD 0.01 2 0.01%
IIPR INNOVATIVE COM USD0.001 739 0.69%
IMAX IMAX CORP NPV 2 0.00%
INDV INDIVIOR PHARMACEUTICALS USD 0.001 1,197 0.64%
INVA INNOVIVA INC USD 0.01 1,705 0.65%
IRWD IRONWOOD PHARMACEUTICALS USD 0.001 11,447 0.64%
JBSS SANFILIPPO JOHN B + SON IN USD 0.01 474 0.63%
JOE ST JOE CO NPV 542 0.66%
KALU KAISER ALUM CORP USD 0.01 2 0.00%
KINS KINGSTONE USD 0.01 2,378 0.62%
KMT KENNAMETAL INC USD 1.25 1 0.00%
KNF KNIFE RIV CORP USD 0.01 440 0.63%
KROS KEROS THERAPEUTICS INC USD 0.0001 2,759 0.53%
LCII LCI INDS USD 0.01 294 0.62%
LFST LIFESTANCE HEALTH GROUP IN USD 0.01 5,407 0.61%
LGND LIGAND PHARMACEUTICALS IN USD 0.001 1 0.00%
LMAT LEMAITRE VASCULAR INC USD 0.01 362 0.70%
LNN LINDSAY MFG CO USD 1.0 1 0.00%
LQDT LIQUIDITY SVCS INC USD 0.001 2 0.00%
MATX MATSON INC NPV 236 0.64%
MAX MEDIAALPHA INC USD 0.01 3,939 0.67%
MBIN MERCHANTS BANCORP IND NPV 928 0.67%
MCY MERCURY GEN CORP NEW NPV 434 0.67%
MMS MAXIMUS INC NPV 518 0.63%
MOD MODINE MFG CO USD 0.625 172 0.60%
MWA MUELLER WTR PRODS INC USD 0.01 1 0.00%
NAGE CHROMADEX CORP USD 0.001 7,752 0.62%
NBN NORTHEAST BK PORTLAND ME USD 1.0 353 0.66%
NBR NABORS INDUSTRIES LTD USD 0.001 503 0.69%
NHC NATIONAL HEALTHCARE CORP USD 0.01 241 0.67%
NJR NEW JERSEY RES CORP USD 2.5 722 0.67%
NSSC NAPCO SEC TECHNOLOGIES INC USD 0.01 840 0.63%
NTB BANK OF NT BUTTERFIELD + S BMD 0.01 771 0.69%
NUTX NUTEX HEALTH INC NPV 354 0.58%
NVEC NVE CORP USD 0.01 2 0.00%
NWPX NWPX INFRASTRUCTURE INC USD 0.01 505 0.64%
OBT ORANGE CNTY BANCORP INC USD 0.25 1,179 0.64%
ODC OIL DRI CORP AMER USD 0.1 578 0.61%
OII OCEANEERING INTL INC USD 0.25 1,104 0.65%
OTTR OTTER TAIL COM USD5 1 0.00%
PACS PACS GROUP INC USD 0.001 1,072 0.65%
PAHC PHIBRO ANIMAL HEALTH CORP USD 0.001 717 0.66%
PBYI PUMA BIOTECHNOLOGY INC USD 0.0001 6,868 0.72%
PD PAGERDUTY INC USD 0.000005 5,545 0.68%
PKBK PARKE BANCORP INC USD 0.1 1,405 0.67%
PLAB PHOTRONICS INC USD 0.01 1 0.00%
PLOW DOUGLAS DYNAMICS INC USD 0.01 853 0.61%
PLUS EPLUS INC USD 0.01 485 0.63%
PNRG PRIMEENERGY RES CORP USD 0.1 197 0.75%
POWL POWELL INDS INC USD 0.01 76 0.67%
PRCH PORCH GROUP INC USD 0.0001 4,769 0.60%
PRDO PERDOCEO ED CORP USD 0.01 1,174 0.70%
PRG PROG HLDGS INC USD 0.5 1,112 0.55%
PRGS PROGRESS S COM USD0.01 937 0.53%
PSIX POWER SOLUTIONS INTL INC USD 0.001 470 0.44%
QNST QUINSTREET INC USD 0.001 3,340 0.70%
RIGL RIGEL PHARMACEUTICALS INC USD 0.001 1,127 0.50%
RSI RUSH STR INTERACTIVE INC USD 0.0001 2 0.00%
SAFX XCF GLOBAL INC USD 0.001 188,857 1.21%
SANM SANMINA CORP USD 0.01 1 0.00%
SBH SALLY BEAUTY HLDGS INC USD 0.01 2,437 0.58%
SD SANDRIDGE ENERGY INC USD 0.001 2,234 0.65%
SITC SITE CTRS CORP 6,356 0.61%
SKYW SKYWEST INC NPV 378 0.59%
SLDE SLIDE INS HLDGS INC USD 0.01 2,062 0.64%
SMP STANDARD MTR PRODS INC USD 2.0 987 0.61%
SNCY SUN CTRY AIRLS HLDGS INC USD 0.01 1,989 0.56%
STRA STRATEGIC ED INC USD 0.01 476 0.67%
STRL STERLING INFRASTRUCTURE IN USD 0.01 91 0.67%
TALK TALKSPACE INC USD 0.0001 8,122 0.73%
TBPH THERAVANCE BIOPHARMA IN USD 0.00001 2,145 0.52%
TCBX THIRD COAST BANCSHARES INC USD 1.0 988 0.63%
TCMD TACTILE SYS TECHNOLOGY IN USD 0.001 1,337 0.63%
TDAY USA TODAY CO NEW USD 0.01 6,580 0.73%
TGNA TEGNA INC USD 1.0 2 0.00%
THFF FIRST FINL CORP IND NPV 618 0.65%
TILE INTERFACE INC USD 0.1 1,243 0.57%
TK TEEKAY CORP LTD USD 0.001 3,025 0.61%
TMDX TRANSMEDICS GROUP INC NPV 2 0.00%
TNK TEEKAY TANKERS LTD USD 0.01 2 0.00%
TRNO TERRENO RE COM USD0.01 1 0.00%
TRS TRIMAS CORP USD 0.01 1,002 0.60%
TTAM TITAN AMERICA SA NPV 2,161 0.57%
TXG 10X GENOMICS INC USD 0.00001 1,698 0.52%
UE URBAN EDGE COM USD0.01 1,842 0.67%
UPWK UPWORK INC USD 0.0001 2,917 0.62%
URBN URBAN OUTFITTERS INC USD 0.0001 591 0.66%
UVE UNIVERSAL INS HLDGS INC USD 0.01 1,113 0.65%
VAL VALARIS LTD USD 0.01 1 0.00%
VCYT VERACYTE INC USD 0.001 1,070 0.62%
VEL VELOCITY FINL INC USD 0.01 2,106 0.64%
VICR VICOR CORP USD 0.01 194 0.65%
VLGEA VILLAGE SUPER MKT INC NPV 1,000 0.72%
VSCO VICTORIAS SECRET + CO USD 0.01 625 0.52%
WGS GENEDX HLDGS CORP NPV 491 0.61%
WLDN WILLDAN GROUP INC USD 0.01 439 0.58%
WLY WILEY JOHN CLASS A COM USD 1 1,262 0.81%
WT WISDOMTREE INC USD 0.01 2,288 0.57%
WTS WATTS WATE CLASS A COM USD0.10 1 0.01%
XHR XENIA HOTE COM USD0.01 2,562 0.65%
YOU CLEAR SECURE INC USD 0.00001 806 0.68%
ZVRA ZEVRA THERAPEUTICS INC USD 0.0001 4,384 0.73%
SPXW US 03/20/26 C7275 SPXW Mar 2026 7275 Call 4 0.00%
SPXW US 03/20/26 C7360 SPXW Mar 2026 7360 Call 3 0.00%
SPXW US 03/31/26 C7350 SPXW Mar 2026 7350 Call 3 0.00%
SPXW US 04/17/26 C7200 SPXW Apr 2026 7200 Call 1 0.00%
SPXW US 04/17/26 C7275 SPXW Apr 2026 7275 Call 3 0.00%
SPXW US 04/17/26 C7380 SPXW Apr 2026 7380 Call 1 0.00%
SPXW US 06/18/26 C7300 SPXW Jun 2026 7300 Call 1 0.04%
- Estimated Cash 17,431 0.31%

Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date Record Date Payable Date Total Distribution
N/A
$0.05000
$0.05000
$0.24421
$0.05000
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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