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LITL

Simplify Piper Sandler US Small-Cap PLUS Income ETF

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As of 10/03/2025

NAV

$ 28.34

NAV Change

+ $ 0.02 /0.07%

Price

$ 28.38

Price Change

+ $ 0.04 /0.14%

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 10/03/2025

Ticker Symbol
LITL
Gross Expense Ratio
0.91%
CUSIP
82889N327
Total Assets
$5,668,670.23
Shares Outstanding
200,001
Distribution Rate as of 06/30/2025 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.
-
Distribution Frequency
Quarterly
30-Day SEC Yield (Subsidized) as of 08/31/2025 SEC 30-day Yield is available once fund has a full month of performance.
SEC 30-Day Yield Close
SEC 30-day Yield is available once fund has a full month of performance.
-
30-Day SEC Yield (Unsubsidized) as of 08/31/2025
0.16%
Options Available
No
Inception Date
04/28/2025
Premium/Discount (%) as of 10/03/2025
0.13%
NAV Per Share as of 10/03/2025
$28.34
Market Price as of 10/03/2025
$28.38
30-Day Median Bid-Ask Spread
0.38%
Bid/Ask
$28.36/$28.43
Midpoint Price
$28.40
Volume
1,457
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 43% 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 09/30/2025 09/30/2025

Monthly Quarterly
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV -0.34% 3.52% — — — 14.14%
Market Price -0.28% 3.22% — — — 13.65%
Annualized 1 Year 3 Year Since Inception
NAV — — —
Market Price — — —
Cumulative 1 Year Since Inception
NAV — 14.14%
Market Price — 13.65%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV — — — —
Market Price — — — —
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 2024 3rd Quarter of 2025
Days Traded at Premium
N/A
54
Days Traded at Discount
N/A
10
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 10/03/2025

Holdings - All ETFs
Ticker Name Quantity Weight
IWM ISHARES RUSSELL 2000 ETF 330 1.43%
AAMI ACADIAN ASSET MANG COM USD0.001 707 0.58%
ABEO ABEONA THERAPEUTICS INC USD 0.01 6,425 0.61%
ABG ASBURY AUTOMOTIVE GROUP IN USD 0.01 143 0.64%
ACLS AXCELIS TECHNOLOGIES INC USD 0.001 361 0.56%
AEO AMERICAN EAGLE OUTFITTERS USD 0.01 1,832 0.55%
AGX ARGAN INC USD 0.15 133 0.62%
AMPH AMPHASTAR PHARMACEUTICAL USD 0.0001 1,251 0.59%
ARDT ARDENT HEALTH INC 2,696 0.67%
ASC ARDMORE SHIPPING CORP USD 0.01 2,720 0.58%
ASIX ADVANSIX INC USD 0.01 1,694 0.59%
ATLC ATLANTICUS HLDGS CORP NPV 492 0.49%
AVAH AVEANNA HEALTHCARE HLDGS I USD 0.01 4,267 0.65%
BBW BUILD-A-BEAR WORKSHOP INC USD 0.01 473 0.51%
BCO BRINKS CO USD 1.0 303 0.61%
BKE BUCKLE INC USD 0.01 570 0.58%
BKH BLACK HILLS CORP USD 1.0 590 0.63%
BKTI BK TECHNOLOGIES CORP USD 0.6 445 0.61%
BLBD BLUE BIRD CORP USD 0.0001 579 0.55%
BLX BANCO LATINOAMERICANO DE COMERC NPV 736 0.58%
BSVN BANK7 CORP USD 0.01 732 0.60%
BY BYLINE BANCORP INC USD 0.01 1,214 0.59%
CALM CAL MAINE FOODS INC USD 0.01 346 0.56%
CARS CARS COM INC USD 0.01 2,585 0.56%
CBAN COLONY BANKCORP INC USD 1.0 1,966 0.58%
CFBK CF BANKSHARES INC USD 0.01 1,417 0.60%
CHCO CITY HLDG CO USD 2.5 276 0.60%
CLSK CLEANSPARK INC USD 0.001 2,538 0.71%
CMCL CALEDONIA MINING CORP PLC NPV 1,037 0.68%
CMRE COSTAMARE INC USD 0.0001 2,815 0.59%
COLL COLLEGIUM PHARMACEUTICAL USD 0.001 967 0.59%
COMM COMMSCOPE HLDG CO INC USD 0.01 2,101 0.58%
CPS COOPER STD HLDGS INC USD 0.001 910 0.59%
CRC CALIFORNIA RES CORP USD 0.01 628 0.59%
CRCT CRICUT INC USD 0.001 5,061 0.53%
CRMD CORMEDIX INC USD 0.001 3,086 0.62%
CRVL CORVEL CORP USD 0.0001 435 0.57%
CSTL CASTLE BIOSCIENCES INC USD 0.001 1,416 0.57%
CTBI COMMUNITY TR BANCORP INC USD 5.0 612 0.60%
CWK CUSHMAN + WAKEFIELD PLC USD 0.01 2,077 0.58%
CWT CALIFORNIA WTR SVC GROUP USD 0.01 760 0.61%
CXM SPRINKLR INC USD 0.00003 4,437 0.61%
DHIL DIAMOND HILL INVT GROUP INC NPV 246 0.62%
DJCO DAILY JOURNAL CORP USD 0.01 77 0.56%
DOCN DIGITALOCEAN HLDGS INC USD 0.000025 945 0.62%
EBS EMERGENT BIOSOLUTIONS INC USD 0.001 4,210 0.68%
EGY VAALCO ENERGY INC USD 0.1 8,349 0.59%
EMBC EMBECTA CORP USD 0.01 2,410 0.61%
ENR ENERGIZER HLDGS INC NEW USD 0.01 1,199 0.52%
ENSG ENSIGN GRO COM USD0.001 210 0.65%
ENVA ENOVA INTL INC USD 0.00001 274 0.55%
ESNT ESSENT GROUP LTD USD 0.015 529 0.57%
EVER EVERQUOTE INC USD 0.001 1,356 0.53%
FPI FARMLAND P COM USD0.01 3,162 0.60%
FTDR FRONTDOOR INC USD 0.01 517 0.63%
FULT FULTON FINL CORP PA USD 2.5 1,784 0.58%
GBX GREENBRIER COMPANIES INC NPV 749 0.61%
GCI GANNETT CO INC NEW USD 0.01 8,038 0.59%
GCT GIGACLOUD TECHNOLOGY INC USD 0.05 1,169 0.58%
GIC GLOBAL INDL CO USD 0.01 959 0.61%
GLDD GREAT LAKES DREDGE + DOC USD 0.0001 2,854 0.60%
GLUE MONTE ROSA THERAPEUTICS USD 0.0001 5,461 0.75%
GTX GARRETT MOTION INC USD 0.001 2,542 0.60%
HBI HANESBRANDS INC USD 5,367 0.65%
HBT HBT FINL INC USD 0.01 1,329 0.59%
HG HAMILTON INSURANCE GROUP L USD 0.01 1,418 0.61%
HLF HERBALIFE NUTRITION LTD USD 0.002 3,786 0.58%
HROW HARROW HEALTH INC USD 0.001 780 0.63%
HRTG HERITAGE INS HLDGS INC USD 0.0001 1,219 0.53%
HTBI HOMETRUST BANCSHARES INC USD 0.01 829 0.60%
IAS INTEGRAL AD SCIENCE HLDG USD 0.001 4,052 0.73%
IBEX IBEX HOLDINGS LTD USD 0.0001 844 0.56%
IBOC INTERNATIONAL BANCSHARES CO USD 1.0 495 0.60%
IDCC INTERDIGITAL INC PA USD 0.01 103 0.62%
IDT IDT CORP USD 0.01 516 0.45%
IMAX IMAX CORP NPV 1,082 0.64%
INDV INDIVIOR PLC USD 0.5 1,536 0.63%
IRMD IRADIMED CORP USD 0.0001 490 0.62%
ITRI ITRON INC COM NPV 287 0.64%
IVT INVENTRUST COM USD0.001(POST REV SP 1,163 0.57%
JBSS SANFILIPPO JOHN B + SON IN USD 0.01 547 0.62%
KE KIMBALL ELECTRONICS INC NPV 1,094 0.56%
LEU CENTRUS ENERGY CORP USD 0.1 117 0.71%
LMAT LEMAITRE VASCULAR INC USD 0.01 375 0.58%
MARA MARA HLDGS INC USD 0.001 1,890 0.63%
MATX MATSON INC NPV 333 0.59%
MBWM MERCANTILE COM NPV 735 0.58%
MCY MERCURY GEN CORP NEW NPV 435 0.67%
MD PEDIATRIX MEDICAL GROUP IN USD 0.01 2,124 0.66%
MIRM MIRUM PHARMACEUTICALS IN USD 0.0001 465 0.60%
MMS MAXIMUS INC NPV 388 0.62%
MMSI MERIT MEDI COM NPV 414 0.62%
MRBK MERIDIAN RG REGISTERED SHS 2,164 0.58%
MRX MAREX GROUP PLC NPV 1,053 0.56%
NAGE CHROMADEX CORP USD 0.001 3,506 0.43%
NHC NATIONAL HEALTHCARE CORP USD 0.01 295 0.63%
NSSC NAPCO SEC TECHNOLOGIES INC USD 0.01 811 0.61%
NUS NU SKIN ENTERPRISES INC USD 0.001 2,859 0.57%
NXT NEXTRACKER INC USD 0.0001 484 0.66%
ODC OIL DRI CORP AMER USD 0.1 529 0.57%
OFG OFG BANCORP USD 1.0 781 0.59%
OMCL OMNICELL INC USD 0.001 1,103 0.60%
OTTR OTTER TAIL COM USD5 411 0.58%
PACS PACS GROUP INC USD 0.001 2,888 0.70%
PAHC PHIBRO ANIMAL HEALTH CORP USD 0.001 867 0.59%
PBYI PUMA BIOTECHNOLOGY INC USD 0.0001 7,820 0.71%
PGNY PROGYNY INC USD 0.0001 1,599 0.58%
PKBK PARKE BANCORP INC USD 0.1 1,567 0.58%
PLAB PHOTRONICS INC USD 0.01 1,386 0.60%
PLOW DOUGLAS DYNAMICS INC USD 0.01 1,069 0.59%
PLYM PLYMOUTH I COM USD0.01 1,570 0.61%
PNRG PRIMEENERGY RES CORP USD 0.1 209 0.60%
PNTG PENNANT GROUP INC USD 0.001 1,433 0.65%
PRG PROG HLDGS INC USD 0.5 974 0.55%
PSIX POWER SOLUTIONS INTL INC USD 0.001 314 0.51%
QLYS QUALYS INC USD 0.001 255 0.59%
RDNT RADNET INC USD 0.0001 452 0.62%
REVG REV GROUP INC USD 0.001 587 0.56%
RHLD US RESOLUTE HLDGS MGMT INC USD 0.0001 494 0.68%
RIGL RIGEL PHARMACEUTICALS INC USD 0.001 996 0.50%
RRR RED ROCK RESORTS INC USD 0.01 569 0.61%
RSI RUSH STR INTERACTIVE INC USD 0.0001 1,570 0.53%
SAH SONIC AUTOMOTIVE INC USD 0.01 440 0.59%
SBH SALLY BEAUTY HLDGS INC USD 0.01 2,229 0.65%
SCS STEELCASE INC NPV 2,048 0.62%
SIGA SIGA TECHNOLOGIES INC USD 0.0001 3,937 0.62%
SITC SITE CTRS CORP 3,987 0.62%
SKT TANGER FAC COM USD 0.01 1,035 0.62%
SKYW SKYWEST INC NPV 332 0.59%
SMBC SOUTHERN MO BANCORP INC USD 0.01 618 0.56%
SSTK SHUTTERSTOCK INC USD 0.01 1,592 0.63%
STNG SCORPIO TANKERS INC USD 0.01 588 0.59%
STRL STERLING INFRASTRUCTURE IN USD 0.01 98 0.60%
SUPN SUPERNUS PHARMACEUTICALS USD 0.001 751 0.64%
SXT SENSIENT TECHNOLOGIES CORP USD 0.1 336 0.56%
TBPH THERAVANCE BIOPHARMA IN USD 0.00001 2,490 0.63%
TCBX THIRD COAST BANCSHARES INC USD 1.0 858 0.57%
TCMD TACTILE SYS TECHNOLOGY IN USD 0.001 2,458 0.66%
TDW TIDEWATER INC NEW USD 0.001 617 0.58%
THFF FIRST FINL CORP IND NPV 591 0.57%
TILE INTERFACE INC USD 0.1 1,169 0.57%
TK TEEKAY CORP LTD USD 0.001 4,033 0.59%
TMDX TRANSMEDICS GROUP INC NPV 283 0.58%
TSSI TSS INC DEL USD 0.0001 2,173 0.69%
TTAM TITAN AMERICA SA NPV 2,282 0.61%
TTI TETRA TECHNOLOGIES INC DEL USD 0.01 6,522 0.64%
UE URBAN EDGE COM USD0.01 1,684 0.60%
UFCS UNITED FIRE GROUP INC USD 0.001 1,105 0.60%
UPWK UPWORK INC USD 0.0001 1,724 0.53%
VC VISTEON CORP USD 0.01 277 0.59%
VEL VELOCITY FINL INC USD 0.01 1,870 0.59%
VMEO VIMEO HLDGS INC USD 0.01 4,472 0.61%
VSCO VICTORIAS SECRET + CO USD 0.01 1,298 0.67%
VTOL BRISTOW GROUP INC DEL NEW USD 0.01 932 0.60%
VTS VITESSE ENERGY INC USD 0.01 1,490 0.62%
WAY WAYSTAR HLDG CORP USD 0.01 914 0.62%
WGS GENEDX HLDGS CORP NPV 267 0.56%
WK WORKIVA INC USD 0.001 434 0.67%
WLDN WILLDAN GROUP INC USD 0.01 335 0.54%
WLY WILEY JOHN CLASS A COM USD 1 857 0.60%
WS WORTHINGTON STL INC USD 0.0001 1,030 0.57%
WSR WHITESTONE SBI COM USD0.001 CL B 2,715 0.58%
WWW WOLVERINE WORLD WIDE INC USD 1.0 1,149 0.51%
XERS XERIS BIOPHARMA HLDGS IN USD 0.0001 4,477 0.65%
YOU CLEAR SECURE INC USD 0.00001 911 0.51%
GLD US 10/15/25 P329 GLD Oct 2025 329 Put 29 0.00%
GLD US 10/15/25 P339 GLD Oct 2025 339 Put -29 -0.01%
GLD US 10/17/25 P333 GLD Oct 2025 333 Put 29 0.01%
GLD US 10/17/25 P343 GLD Oct 2025 343 Put -29 -0.03%
RUTW US 10/17/25 P2255 RUTW Oct 2025 2255 Put 4 0.01%
RUTW US 10/17/25 P2355 RUTW Oct 2025 2355 Put -4 -0.04%
SPXW US 10/06/25 C6790 SPXW Oct 2025 6790 Call 3 0.00%
SPXW US 10/06/25 P6400 SPXW Oct 2025 6400 Put 3 0.00%
SPXW US 10/08/25 C6815 SPXW Oct 2025 6815 Call 12 0.02%
SPXW US 10/08/25 P6350 SPXW Oct 2025 6350 Put 5 0.01%
SPXW US 10/10/25 C6775 SPXW Oct 2025 6775 Call 2 0.05%
SPXW US 10/10/25 P6140 SPXW Oct 2025 6140 Put 1 0.00%
SPXW US 10/10/25 P6400 SPXW Oct 2025 6400 Put 3 0.02%
SPXW US 10/10/25 P6440 SPXW Oct 2025 6440 Put -1 -0.01%
SPXW US 10/13/25 C6785 SPXW Oct 2025 6785 Call 2 0.05%
SPXW US 10/15/25 P6150 SPXW Oct 2025 6150 Put 1 0.01%
SPXW US 10/15/25 P6450 SPXW Oct 2025 6450 Put -1 -0.02%
SPXW US 10/17/25 P6150 SPXW Oct 2025 6150 Put 1 0.01%
SPXW US 10/17/25 P6450 SPXW Oct 2025 6450 Put -1 -0.02%
SPXW US 10/22/25 C6790 SPXW Oct 2025 6790 Call 1 0.07%
SPXW US 10/24/25 C6810 SPXW Oct 2025 6810 Call 1 0.06%
- Estimated Cash 12,736 0.22%

Holdings are subject to change without notice.

Recent Distributions

Ex-Dividend Date Record Date Payable Date Total Distribution
N/A
$0.05000
$0.00000
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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