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LITL

Simplify Piper Sandler US Small-Cap PLUS Income ETF

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As of 06/05/2026

NAV

$ 31.08

NAV Change

- $ 0.58 /1.83%

Price

$ 31.19

Price Change

- $ 0.46 /1.45%

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 06/05/2026

Ticker Symbol
LITL
Expense Ratio
0.91%
CUSIP
82889N327
Total Assets
$5,439,525.10
Shares Outstanding
175,001
Distribution Rate as of 04/30/2026 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.
1.92%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 04/30/2026
-
30-Day SEC Yield (Unsubsidized) as of 04/30/2026
0.07%
Options Available
No
Inception Date
04/28/2025
Premium/Discount (%) as of 06/05/2026
0.34%
NAV Per Share as of 06/05/2026
$31.08
Market Price as of 06/05/2026
$31.19
30-Day Median Bid-Ask Spread
0.70%
Bid/Ask
$31.09/$31.28
Midpoint Price
$31.19
Volume
5,303
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 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 05/31/2026 03/31/2026

Monthly Quarterly Annually
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. 

Historical Premium/Discount

Calendar Year 2025 1st Quarter of 2026
Days Traded at Premium
142
21
Days Traded at Discount
29
40
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 06/05/2026

Holdings - All ETFs
Ticker Name Quantity Weight
ACIW ACI WORLDWIDE INC USD 0.005 788 0.62%
ADAM ADAMAS TRUST INC 3,740 0.62%
AGX ARGAN INC USD 0.15 56 0.72%
ALHC ALIGNMENT HEALTHCARE INC USD 0.001 2,380 0.67%
ALKS ALKERMES PLC USD 0.01 816 0.64%
AMSC AMERICAN SUPERCONDUCTOR CO USD 0.01 727 0.57%
ANF ABERCROMBIE + FITCH CO USD 0.01 445 0.62%
ARDT ARDENT HEALTH INC 3,728 0.59%
ARHS ARHAUS INC USD 0.001 5,082 0.59%
ARWR ARROWHEAD PHARMACEUTICALS USD 0.001 441 0.59%
ATEX ANTERIX INC USD 0.0001 582 0.71%
ATLC ATLANTICUS HLDGS CORP NPV 432 0.67%
ATMU ATMUS FILTRATION TECHNOL USD 0.0001 735 0.62%
AUPH AURINIA PHARMACEUTICALS INC NPV 2,421 0.71%
AVAH AVEANNA HEALTHCARE HLDGS I USD 0.01 4,799 0.59%
AZZ AZZ INC USD 1.0 273 0.69%
BBW BUILD-A-BEAR WORKSHOP INC USD 0.01 924 0.58%
BFH BREAD FINL HLDGS INC USD 0.01 418 0.70%
BLBD BLUE BIRD CORP USD 0.0001 550 0.70%
BLX BANCO LATINOAMERICANO DE COMERC NPV 667 0.69%
BTSG BRIGHTSPRING HEALTH SVCS USD 100.0 604 0.64%
BYND BEYOND MEAT INC USD 0.0001 43,640 0.57%
CALM CAL MAINE FOODS INC USD 0.01 496 0.69%
CARG CARGURUS INC USD 0.001 1,153 0.58%
CBL CBL + ASSO COM USD0.01 775 0.69%
CDNA CAREDX INC USD 0.001 1,508 0.62%
CECO CECO ENVIRONMENTAL CORP USD 0.01 496 0.71%
CIVB CIVISTA BANCSHARES INC NPV 1,437 0.70%
CMCL CALEDONIA MINING CORP PLC NPV 1,448 0.53%
CMPR CIMPRESS PLC EUR 0.01 378 0.66%
CMRE COSTAMARE INC USD 0.0001 2,238 0.66%
CNK CINEMARK HLDGS INC USD 0.001 1,327 0.76%
COLL COLLEGIUM PHARMACEUTICAL USD 0.001 1,024 0.63%
CON CONCENTRA GROUP HLDGS PARE USD 0.01 1,383 0.64%
CPRX CATALYST PHARMACEUTICALS USD 0.001 1,193 0.69%
CRMD CORMEDIX INC USD 0.001 4,077 0.63%
CRVL CORVEL CORP USD 0.0001 603 0.66%
CSTM CONSTELLIUM SE EUR 0.02 1,088 0.68%
CSV CARRIAGE SVCS INC USD 0.01 836 0.58%
CVLT COMMVAULT SYS INC USD 0.01 314 0.69%
DAVE DAVE INC USD 0.0001 132 0.63%
DCTH DELCATH SYS INC USD 0.01 3,192 0.63%
DDD 3D SYS CORP DEL USD 0.001 9,639 0.52%
DEC DIVERSIFIED ENERGY CO 1P GDR 2,365 0.60%
DHT DHT HOLDINGS INC USD 0.01 2,252 0.69%
DJCO DAILY JOURNAL CORP USD 0.01 72 0.69%
DOCN DIGITALOCEAN HLDGS INC USD 0.000025 221 0.69%
DRH DIAMONDROC COM USD0.01 3,390 0.72%
DY DYCOM INDS INC USD 0.333333 67 0.57%
EAT BRINKER INTL INC USD 0.1 260 0.67%
ECPG ENCORE CAPITAL GROUP INC. USD 0.01 463 0.69%
ENR ENERGIZER HLDGS INC NEW USD 0.01 2,026 0.72%
EVER EVERQUOTE INC USD 0.001 1,937 0.69%
FBP FIRST BANCORP P R USD 0.1 1,547 0.69%
FRAF FRANKLIN FINL SVCS CORP USD 1.0 639 0.69%
FRST PRIMIS FINL CORP USD 0.01 2,385 0.66%
FSS FEDERAL SIGNAL CORP USD 1.0 345 0.68%
GCT GIGACLOUD TECHNOLOGY INC USD 0.05 1,015 0.59%
GRND GRINDR INC USD 0.0001 2,753 0.55%
GTX GARRETT MOTION INC USD 0.001 1,137 0.67%
HCI HCI GROUP INC NPV 241 0.70%
HG HAMILTON INSURANCE GROUP L USD 0.01 1,248 0.70%
HLF HERBALIFE NUTRITION LTD USD 0.002 2,877 0.60%
INDV INDIVIOR PHARMACEUTICALS USD 0.001 1,027 0.71%
INSW INTERNATIONAL SEAWAYS INC NPV 478 0.71%
INVA INNOVIVA INC USD 0.01 1,723 0.71%
JOE ST JOE CO NPV 585 0.70%
KALU KAISER ALUM CORP USD 0.01 205 0.67%
KFRC KFORCE INC USD 0.01 793 0.69%
KRYS KRYSTAL BIOTECH INC USD 0.00001 112 0.62%
KSS KOHLS CORP USD 0.01 2,397 0.68%
LAUR LAUREATE ED INC USD 0.001 1,163 0.72%
LFST LIFESTANCE HEALTH GROUP IN USD 0.01 4,463 0.61%
LGIH LGI HOMES INC USD 0.01 775 0.72%
LIF LIFE360 INC USD 0.001 869 0.72%
LMAT LEMAITRE VASCULAR INC USD 0.01 388 0.67%
LPG DORIAN LPG LTD USD 0.01 855 0.65%
MATX MATSON INC NPV 206 0.71%
MCRI MONARCH CASINO + RESORT IN USD 0.01 309 0.70%
MCY MERCURY GEN CORP NEW NPV 379 0.71%
MD PEDIATRIX MEDICAL GROUP IN USD 0.01 1,598 0.66%
MGEE MGE ENERGY INC USD 1.0 455 0.63%
MLAB MESA LABS INC NPV 337 0.64%
MRX MAREX GROUP PLC NPV 702 0.71%
MYE MYERS INDS INC NPV 1,509 0.66%
MYRG MYR GROUP INC DEL USD 0.01 74 0.61%
NBN NORTHEAST BK PORTLAND ME USD 1.0 295 0.65%
NBR NABORS INDUSTRIES LTD USD 0.001 371 0.65%
NHC NATIONAL HEALTHCARE CORP USD 0.01 202 0.71%
NJR NEW JERSEY RES CORP USD 2.5 671 0.68%
NMRK NEWMARK GROUP INC USD 0.01 2,463 0.66%
NSIT INSIGHT ENTERPRISES INC USD 0.01 323 0.66%
NSSC NAPCO SEC TECHNOLOGIES INC USD 0.01 917 0.59%
NUTX NUTEX HEALTH INC NPV 286 0.70%
NVEC NVE CORP USD 0.01 380 0.71%
NWPX NWPX INFRASTRUCTURE INC USD 0.01 316 0.68%
OFG OFG BANCORP USD 1.0 815 0.69%
OMDA OMADA HEALTH INC USD 0.001 2,073 0.68%
OMER OMEROS CORP USD 0.01 3,117 0.56%
OUT OUTFRONT M COM USD0.01(POST REV SPL 1,068 0.61%
PACS PACS GROUP INC USD 0.001 1,017 0.69%
PBI PITNEY BOWES INC USD 1.0 2,311 0.72%
PD PAGERDUTY INC USD 0.000005 3,745 0.64%
PEBK PEOPLES BANCORP N C INC NPV 817 0.65%
PFBC PREFERRED BK LOS ANGELES CALIF NPV 388 0.69%
PGNY PROGYNY INC USD 0.0001 1,347 0.64%
PGY PAGAYA TECHNOLOGIES LTD USD 0.0001 2,276 0.61%
PKBK PARKE BANCORP INC USD 0.1 1,209 0.69%
PLBC PLUMAS BANCORP NPV 654 0.65%
PLOW DOUGLAS DYNAMICS INC USD 0.01 831 0.68%
PNTG PENNANT GROUP INC USD 0.001 1,005 0.59%
PRTH PRIORITY TECHNOLOGY HLDGS USD 0.001 5,385 0.58%
PTCT PTC THERAPEUTICS INC USD 0.001 466 0.61%
QLYS QUALYS INC USD 0.001 315 0.64%
RBCAA REPUBLIC BANCORP INC KY NPV 460 0.71%
RM REGIONAL MGMT CORP USD 0.1 1,014 0.67%
RUN SUNRUN INC USD 0.0001 2,228 0.55%
SANM SANMINA CORP USD 0.01 132 0.61%
SCHL SCHOLASTIC CORP USD 0.01 850 0.67%
SD SANDRIDGE ENERGY INC USD 0.001 2,346 0.64%
SENEA SENECA FOODS CORP NEW USD 0.25 259 0.70%
SITC SITE CTRS CORP 7,301 0.67%
SLDE SLIDE INS HLDGS INC USD 0.01 2,054 0.63%
SM SM ENERGY CO USD 0.01 1,120 0.66%
SPIR SPIRE GLOBAL INC NPV 1,506 0.48%
STRL STERLING INFRASTRUCTURE IN USD 0.01 43 0.70%
TK TEEKAY CORP LTD USD 0.001 3,000 0.64%
TMHC TAYLOR MORRISON HOME CO USD 0.00001 588 0.77%
TMP TOMPKINS FINL CORP USD 0.1 431 0.69%
TRNO TERRENO RE COM USD0.01 565 0.67%
TRS TRIMAS CORP USD 0.01 910 0.66%
TSSI TSS INC DEL USD 0.0001 2,261 0.56%
UFCS UNITED FIRE GROUP INC USD 0.001 776 0.65%
UPWK UPWORK INC USD 0.0001 3,901 0.63%
URBN URBAN OUTFITTERS INC USD 0.0001 513 0.67%
UVE UNIVERSAL INS HLDGS INC USD 0.01 997 0.68%
VCYT VERACYTE INC USD 0.001 804 0.72%
VLGEA VILLAGE SUPER MKT INC NPV 802 0.59%
VTEX VTEX USD 0.0001 9,818 0.66%
WLDN WILLDAN GROUP INC USD 0.01 410 0.73%
WWW WOLVERINE WORLD WIDE INC USD 1.0 1,961 0.57%
XOMA XOMA RTY CORP USD 0.0005 890 0.69%
YOU CLEAR SECURE INC USD 0.00001 621 0.62%
ZVRA ZEVRA THERAPEUTICS INC USD 0.0001 2,969 0.58%
SPXW US 06/10/26 P7250 SPXW Jun 2026 7250 Put -7 -0.27%
SPXW US 06/10/26 P7350 SPXW Jun 2026 7350 Put 7 0.56%
SPXW US 07/17/26 C7650 SPXW Jul 2026 7650 Call 1 0.09%
SPXW US 07/17/26 C7700 SPXW Jul 2026 7700 Call 1 0.07%
SPXW US 07/17/26 C7850 SPXW Jul 2026 7850 Call 2 0.05%
SPXW US 07/31/26 C7900 SPXW Jul 2026 7900 Call 1 0.04%
SPXW US 08/21/26 C8000 SPXW Aug 2026 8000 Call 1 0.04%
- TRS SBAR SOFR +95 061527 68,200 31.71%
- TRS SBAR SOFR +93 051427 31,757 14.76%
- TRS SBAR SOFR +93 051427 -810,276 -14.90%
- TRS SBAR SOFR +95 061527 -1,741,691 -32.02%
T Bills UNITED STS TREAS BILLS 0.0 01SEP26 80,000 1.46%
T Bills UNITED STS TREAS BILLS 0.0 15OCT26 200,000 3.63%
- Estimated Cash 25,069 0.46%

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
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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