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LITL

Simplify Piper Sandler US Small-Cap PLUS Income ETF

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As of 05/12/2026

NAV

$ 30.92

NAV Change

- $ 0.22 /0.71%

Price

$ 30.97

Price Change

- $ 0.52 /1.65%

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 05/12/2026

Ticker Symbol
LITL
Expense Ratio
0.91%
CUSIP
82889N327
Total Assets
$5,410,751.03
Shares Outstanding
175,001
Distribution Rate as of 03/31/2026 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.
2.10%
Distribution Frequency
Monthly
30-Day SEC Yield (Subsidized) as of 03/31/2026
-
30-Day SEC Yield (Unsubsidized) as of 03/31/2026
0.14%
Options Available
No
Inception Date
04/28/2025
Premium/Discount (%) as of 05/12/2026
0.17%
NAV Per Share as of 05/12/2026
$30.92
Market Price as of 05/12/2026
$30.97
30-Day Median Bid-Ask Spread
0.38%
Bid/Ask
$30.85/$31.07
Midpoint Price
$30.96
Volume
6
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 04/30/2026 03/31/2026

Monthly Quarterly Annually
Cumulative 1 Month 3 Month 6 Month YTD 1 Year 3 Year 5 Year Since Inception
NAV 9.67% 4.43% 12.16% 6.71% 27.76% — — 27.25%
Market Price 9.80% 4.58% 12.11% 6.73% 27.58% — — 26.66%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV 27.76% — — 27.08%
Market Price 27.58% — — 26.58%
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 05/12/2026

Holdings - All ETFs
Ticker Name Quantity Weight
IWM ISHARES RUSSELL 2000 ETF 182 0.95%
ACAD ACADIA PHARMACEUTICALS I USD 0.0001 1,614 0.65%
ACEL ACCEL ENTMT INC USD 0.0001 2,851 0.60%
ACIC AMERICAN COASTAL INS COR USD 0.0001 2,997 0.59%
ACT ENACT HLDGS INC USD 0.01 832 0.66%
ADEA ADEIA INC NPV 1,074 0.62%
AGX ARGAN INC USD 0.15 51 0.64%
AII AMERICAN INTEGRITY INS GR USD 0.001 1,830 0.66%
ALHC ALIGNMENT HEALTHCARE INC USD 0.001 1,749 0.59%
AMRX AMNEAL PHARMACEUTICALS INC USD 0.01 2,761 0.64%
AMSC AMERICAN SUPERCONDUCTOR CO USD 0.01 675 0.68%
ANIP ANI PHARMACEUTICALS INC USD 0.0001 1 0.00%
APPN APPIAN CORP USD 0.0001 1,572 0.60%
AROC ARCHROCK INC USD 0.01 908 0.62%
ATEX ANTERIX INC USD 0.0001 715 0.72%
ATLC ATLANTICUS HLDGS CORP NPV 455 0.65%
AUPH AURINIA PHARMACEUTICALS INC NPV 2,308 0.68%
AWR AMERICAN STS WTR CO NPV 471 0.68%
AZZ AZZ INC USD 1.0 247 0.68%
BELFB BEL FUSE INC USD 0.1 127 0.70%
BFH BREAD FINL HLDGS INC USD 0.01 416 0.65%
BKE BUCKLE INC USD 0.01 641 0.58%
BLBD BLUE BIRD CORP USD 0.0001 565 0.72%
BLFS BIOLIFE SOLUTIONS INC USD 0.001 1,670 0.66%
BLX BANCO LATINOAMERICANO DE COMERC NPV 661 0.64%
BOX BOX INC USD 0.0001 1,418 0.63%
BTSG BRIGHTSPRING HEALTH SVCS USD 100.0 674 0.69%
CALM CAL MAINE FOODS INC USD 0.01 465 0.68%
CBL CBL + ASSO COM USD0.01 814 0.70%
CECO CECO ENVIRONMENTAL CORP USD 0.01 477 0.71%
CIVB CIVISTA BANCSHARES INC NPV 1,413 0.64%
CMPR CIMPRESS PLC EUR 0.01 378 0.64%
CNK CINEMARK HLDGS INC USD 0.001 1,283 0.62%
CPRX CATALYST PHARMACEUTICALS USD 0.001 1,235 0.71%
CRDO CREDO TECHNOLOGY GROUP USD 0.00005 194 0.71%
CRVL CORVEL CORP USD 0.0001 616 0.66%
CSTL CASTLE BIOSCIENCES INC USD 0.001 1,428 0.49%
CSTM CONSTELLIUM SE EUR 0.02 1,107 0.68%
CVLT COMMVAULT SYS INC USD 0.01 357 0.67%
DAVE DAVE INC USD 0.0001 130 0.58%
DHT DHT HOLDINGS INC USD 0.01 1,877 0.65%
DJCO DAILY JOURNAL CORP USD 0.01 69 0.62%
DLX DELUXE CORP USD 1.0 1 0.00%
DRH DIAMONDROC COM USD0.01 3,384 0.66%
EAT BRINKER INTL INC USD 0.1 239 0.60%
EBS EMERGENT BIOSOLUTIONS INC USD 0.001 4,183 0.66%
ECPG ENCORE CAPITAL GROUP INC. USD 0.01 425 0.64%
ENR ENERGIZER HLDGS INC NEW USD 0.01 1,802 0.59%
EVER EVERQUOTE INC USD 0.001 2,445 0.86%
FBP FIRST BANCORP P R USD 0.1 1,457 0.63%
FLOC FLOWCO HLDGS INC USD 0.0001 2 0.00%
FRAF FRANKLIN FINL SVCS CORP USD 1.0 620 0.64%
FSS FEDERAL SIGNAL CORP USD 1.0 291 0.62%
FUL FULLER H B CO USD 1.0 1 0.00%
GCT GIGACLOUD TECHNOLOGY INC USD 0.05 786 0.56%
GRDN GUARDIAN PHARMACY SVCS INC USD 0.01 948 0.61%
GSBC GREAT SOUTHN BANCORP INC USD 0.01 514 0.65%
GTX GARRETT MOTION INC USD 0.001 1,369 0.75%
HCI HCI GROUP INC NPV 233 0.66%
HG HAMILTON INSURANCE GROUP L USD 0.01 1,124 0.64%
HIMS HIMS + HERS HEALTH INC USD 0.0001 1,293 0.60%
HIPO HIPPO HLDGS INC USD 0.0001 1,280 0.64%
HRTG HERITAGE INS HLDGS INC USD 0.0001 1,233 0.52%
HURN HURON CONSULTING GROUP INC USD 0.01 270 0.55%
IBEX IBEX HOLDINGS LTD USD 0.0001 1,254 0.72%
IDR IDAHO STRATEGIC RESOURCES I USD 0.1 810 0.77%
INDV INDIVIOR PHARMACEUTICALS USD 0.001 942 0.67%
INSW INTERNATIONAL SEAWAYS INC NPV 416 0.68%
INVA INNOVIVA INC USD 0.01 1,533 0.64%
IRTC IRHYTHM HLDGS INC USD 0.001 2 0.00%
IRWD IRONWOOD PHARMACEUTICALS USD 0.001 7,979 0.60%
JOE ST JOE CO NPV 574 0.68%
KALU KAISER ALUM CORP USD 0.01 204 0.66%
KFRC KFORCE INC USD 0.01 805 0.61%
LAUR LAUREATE ED INC USD 0.001 1,134 0.69%
LCII LCI INDS USD 0.01 303 0.63%
LGIH LGI HOMES INC USD 0.01 730 0.62%
LGND LIGAND PHARMACEUTICALS IN USD 0.001 156 0.64%
LIF LIFE360 INC USD 0.001 774 0.55%
LMAT LEMAITRE VASCULAR INC USD 0.01 316 0.57%
LTC LTC PROPER COM USD0.01 920 0.66%
MATX MATSON INC NPV 204 0.67%
MCRI MONARCH CASINO + RESORT IN USD 0.01 301 0.64%
MCY MERCURY GEN CORP NEW NPV 368 0.69%
MPTI M-TRON INDS INC USD 0.01 2 0.00%
MRX MAREX GROUP PLC NPV 677 0.70%
NBN NORTHEAST BK PORTLAND ME USD 1.0 283 0.64%
NEXN NEXXEN INTERNATIONAL LTD NPV 1 0.00%
NGVC NATURAL GROCERS BY VITAMI USD 0.001 1,198 0.60%
NHC NATIONAL HEALTHCARE CORP USD 0.01 204 0.71%
NHI NATL HLTH COM STK USD0.01 462 0.64%
NJR NEW JERSEY RES CORP USD 2.5 633 0.67%
NRIM NORTHRIM BANCORP INC USD 1.0 1,433 0.63%
NSSC NAPCO SEC TECHNOLOGIES INC USD 0.01 2 0.00%
NTB BANK OF NT BUTTERFIELD + S BMD 0.01 638 0.65%
NUTX NUTEX HEALTH INC NPV 254 0.64%
NVEC NVE CORP USD 0.01 406 0.69%
NWPX NWPX INFRASTRUCTURE INC USD 0.01 332 0.70%
OBT ORANGE CNTY BANCORP INC USD 0.25 1,040 0.65%
ODC OIL DRI CORP AMER USD 0.1 484 0.69%
OFG OFG BANCORP USD 1.0 775 0.63%
OMDA OMADA HEALTH INC USD 0.001 2,318 0.64%
ONIT ONITY GROUP INC USD 0.01 742 0.51%
OPRX OPTIMIZERX CORP USD 0.001 2 0.00%
ORGO ORGANOGENESIS HLDGS INC USD 0.0001 13,785 0.61%
PACS PACS GROUP INC USD 0.001 1,075 0.81%
PAHC PHIBRO ANIMAL HEALTH CORP USD 0.001 645 0.44%
PARR PAR PACIFIC HOLDINGS INC 0.01 542 0.63%
PBI PITNEY BOWES INC USD 1.0 2,281 0.65%
PD PAGERDUTY INC USD 0.000005 4,822 0.60%
PFBC PREFERRED BK LOS ANGELES CALIF NPV 371 0.64%
PKBK PARKE BANCORP INC USD 0.1 1,168 0.65%
PLOW DOUGLAS DYNAMICS INC USD 0.01 768 0.64%
PNRG PRIMEENERGY RES CORP USD 0.1 164 0.76%
PRDO PERDOCEO ED CORP USD 0.01 1,053 0.68%
PRG PROG HLDGS INC USD 0.5 2 0.00%
PXED PHOENIX ED PARTNERS INC USD 0.01 1,183 0.68%
QNST QUINSTREET INC USD 0.001 2,718 0.60%
RBCAA REPUBLIC BANCORP INC KY NPV 464 0.65%
RDN RADIAN GROUP INC USD 0.001 1 0.00%
RDVT RED VIOLET INC USD 0.001 2 0.00%
RIGL RIGEL PHARMACEUTICALS INC USD 0.001 1,205 0.65%
RM REGIONAL MGMT CORP USD 0.1 1,014 0.64%
RUN SUNRUN INC USD 0.0001 2,713 0.71%
RVLV REVOLVE GROUP INC USD 0.001 1,418 0.49%
SAFX XCF GLOBAL INC USD 0.001 70,816 0.53%
SBH SALLY BEAUTY HLDGS INC USD 0.01 2,525 0.58%
SENEA SENECA FOODS CORP NEW USD 0.25 257 0.66%
SEZL SEZZLE INC NPV 2 0.00%
SHBI SHORE BANCSHARES INC USD 0.01 1,817 0.65%
SIGA SIGA TECHNOLOGIES INC USD 0.0001 7,702 0.63%
SITC SITE CTRS CORP 6,374 0.65%
SLDE SLIDE INS HLDGS INC USD 0.01 1,905 0.66%
SMP STANDARD MTR PRODS INC USD 2.0 921 0.65%
SPNT SIRIUSPOINT LTD USD 0.1 1,524 0.64%
STRL STERLING INFRASTRUCTURE IN USD 0.01 68 1.07%
STRT STRATTEC SEC CORP USD 0.01 488 0.57%
SXT SENSIENT TECHNOLOGIES CORP USD 0.1 314 0.67%
TALK TALKSPACE INC USD 0.0001 6,826 0.65%
TBRG TRUEBRIDGE INC USD 0.001 1,374 0.66%
TILE INTERFACE INC USD 0.1 1,275 0.66%
TK TEEKAY CORP LTD USD 0.001 2 0.00%
TMDX TRANSMEDICS GROUP INC NPV 354 0.42%
TMP TOMPKINS FINL CORP USD 0.1 419 0.65%
TNK TEEKAY TANKERS LTD USD 0.01 440 0.65%
TREE LENDINGTREE INC NEW USD 0.01 913 0.64%
TRNO TERRENO RE COM USD0.01 544 0.66%
TRS TRIMAS CORP USD 0.01 919 0.69%
TSSI TSS INC DEL USD 0.0001 2,363 0.51%
TZOO TRAVELZOO USD 0.01 3,615 0.60%
UE URBAN EDGE COM USD0.01 1,621 0.65%
UMBF UMB FINL CORP USD 1.0 274 0.65%
URBN URBAN OUTFITTERS INC USD 0.0001 514 0.64%
UVE UNIVERSAL INS HLDGS INC USD 0.01 893 0.65%
VAL VALARIS LTD USD 0.01 347 0.62%
VCYT VERACYTE INC USD 0.001 1,072 0.78%
VEL VELOCITY FINL INC USD 0.01 1,826 0.59%
VISN VISTANCE NETWORKS INC USD 0.01 2,970 0.65%
VLGEA VILLAGE SUPER MKT INC NPV 805 0.66%
VSCO VICTORIAS SECRET + CO USD 0.01 1 0.00%
VTEX VTEX USD 0.0001 9,038 0.60%
WGS GENEDX HLDGS CORP NPV 542 0.40%
WLDN WILLDAN GROUP INC USD 0.01 479 0.82%
WLY WILEY JOHN CLASS A COM USD 1 867 0.64%
WWW WOLVERINE WORLD WIDE INC USD 1.0 1 0.00%
XHR XENIA HOTE COM USD0.01 2 0.00%
XOMA XOMA RTY CORP USD 0.0005 856 0.66%
YELP YELP INC USD 0.000001 1,226 0.52%
YOU CLEAR SECURE INC USD 0.00001 1 0.00%
ZVRA ZEVRA THERAPEUTICS INC USD 0.0001 1 0.00%
SPXW US 07/17/26 C7600 SPXW Jul 2026 7600 Call 1 0.21%
SPXW US 07/17/26 C7650 SPXW Jul 2026 7650 Call 1 0.18%
SPXW US 07/17/26 C7700 SPXW Jul 2026 7700 Call 1 0.14%
SPXW US 07/31/26 C7900 SPXW Jul 2026 7900 Call 1 0.09%
- TRSBA0016 11,270 5.32%
- TRSBA0016 00001 -286,934 -5.30%
T Bills UNITED STS TREAS BILLS 0.0 01SEP26 90,000 1.64%
- Estimated Cash 3,613 0.07%

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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