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Launched

Simplify Piper Sandler US Small-Cap PLUS Income ETF

LITLNYSE ArcaSimplifyD

$34.00+0.08 (+0.24%)

As of Nov 2, 2026, 3:45 PM ET

D29/ 100

Rank 32 of 41 in US Active Small-Cap

D29/100Rank 32 of 41inUS Active Small-Cap
Intraday session: up, 75 prints from 33.92 to 34.00. Range 34.00 to 34.52. Use the arrow keys to read each point.34.1034.2034.3034.4034.5010 AM12 PM2 PM4 PM
Expense ratio
0.90%
Fund size
$6M
1Y total return
+23.2%
Yield · Last 12 months
2.72%
Holdings
185
Avg volume · 30D
1.77K sh
52W range
low $26.45high $35.36
Launched

The ETF.net LITL Grade

Based on 5 of 6 pillars

D

Score 29 out of 100

Category
US Active Small-Cap⁠
Rank
32 of 41
Six-pillar profile for LITL. Scores out of 100: Cost 5, Risk 70, Mission not scored, Tradability 12, Holdings 66, Durability 28. Strongest: Risk (70). Weakest: Cost (5). Based on 5 of 6 pillars.

Score 29 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F5 out of 100
    Rank 39 of 41

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A70 out of 100
    Rank 6 of 39

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F12 out of 100
    Rank 41 of 41

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B66 out of 100
    Rank 16 of 41

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D28 out of 100
    Rank 35 of 41

Our read on LITL

ETF.net Research

In short

DMost equity income funds sell calls on the stocks they own and cap their own upside. LITL sells put spreads on outside indices instead, bolting an income engine onto an actively rotated basket of about 200 US small caps.

Stated mandate

LITL seeks capital appreciation and income through an actively managed opportunistic strategy paired with a risk-managed income-generating options strategy.

Why people hold it

  • The overlay sells put spreads on outside equity, bond and commodity indices or ETFs, so premium income is generated without writing calls against the fund's own stock sleeve.simplify.ussimplify.us 2
  • Piper Sandler's model picks the 3-4 style factors (value, profitability, earnings growth and similar) it reads as favorable for the current business cycle, then reranks the universe.simplify.us
  • Starts from roughly 2,000 small caps, screens out the most illiquid names, and lands on about 200 holdings. Liquidity screening matters more down here than in large caps.simplify.us

Worth knowing

  • 0.91% a year sits well above the active US small-cap median near 0.5%, and several times what systematic peers like AVUV and AVSC charge at 0.25%.
  • A 2025 launch that is still small and thinly traded, so bid-ask spreads can be wide and the live record is short.
  • Income comes from option premium rather than dividends, so payouts are irregular, and short put spreads can take losses in a sharp selloff alongside the small-cap sleeve.simplify.ussimplify.us 2

LITL Performance

Launched Apr 28, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
LITL$12,316
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. LITL $12,316. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for LITL. Periods over one year show the average yearly return.
PeriodLITL
Year to date+17.3%
1 month+3.3%
3 months+1.9%
1 year+23.2%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for LITL
YearReturn barLITL
2026 YTD+17.3%
2025+18.7%

History from Apr 29, 2025

LITL in the news

LITL Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
2.72%Last 12 months
Payout per share
$0.92Last 12 months
Last payment
$0.15 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2025–2026

One bar per payment. 12 payments from 2025 to 2026 YTD. Sep 25, 2025 $0.05; Dec 23, 2025 $0.24; Jan 27, 2026 $0.05; Feb 24, 2026 $0.05; Mar 26, 2026 $0.05; Apr 27, 2026 $0.05; May 26, 2026 $0.05; Jun 25, 2026 $0.05; Jul 28, 2026 $0.05; Aug 26, 2026 $0.08; Sep 25, 2026 $0.10; Oct 27, 2026 $0.15. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Oct 27, 2026Oct 30, 2026$0.15
Sep 25, 2026Sep 30, 2026$0.10
Aug 26, 2026Aug 31, 2026$0.08
Jul 28, 2026Jul 31, 2026$0.05
Jun 25, 2026Jun 30, 2026$0.05
May 26, 2026May 29, 2026$0.05
Apr 27, 2026Apr 30, 2026$0.05
Mar 26, 2026Mar 31, 2026$0.05
Feb 24, 2026Feb 27, 2026$0.05
Jan 27, 2026Jan 30, 2026$0.05
Dec 23, 2025Dec 31, 2025$0.24
Sep 25, 2025Sep 30, 2025$0.05

$10,000 in LITL 1 year ago paid $326 in dividends.

LITL Risk

Risk pillarA70 out of 100Rank 6 of 39 in US Active Small-Cap
How much the fund’s monthly returns vary, scaled to a year.
14.8%
Annualised · 18 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.34
vs 3-month T-bills · 18 months to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−9.4%
18 months · trough Mar 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.69
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

LITL Cost

Compare LITL and AVSC

Overpaying vs AVSC, cheapest in US Active Small-Cap

$11,881

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • LITL 0.90%

    $17,040

  • AVSC 0.25% Cheapest

    $5,159

$10,000
30 years

Cost over time

  • LITL 0.90%
  • AVSC 0.25%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530LITL $17,040AVSC $5,159

Year by year

YearLITLAVSCOverpaying
10$1,593$455$1,138
20$6,015$1,769$4,246
30$17,040$5,159$11,881

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