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DFSV vs LITL

U.S. Small Cap Value Portfolio ETF Class Shares

DFSVANYSE Arca

Simplify Piper Sandler US Small-Cap PLUS Income ETF

LITLDNYSE Arca

Overlap

Expense ratio

DFSV −0.60pt a year

DFSV0.30%LITL0.90%

Avg volume · 30D

DFSV 534.0×the volume

DFSV944KLITL1.77K

DFSV vs LITL Performance

Oct 31, 2025 – Oct 30, 2026

+27.6%DFSV+23.2%LITL

Oct 31, 2025 to Oct 30, 2026. DFSV +27.6%. LITL +23.2%. Use the arrow keys to read each point.0%10%Oct 2025Apr 2026Oct 2026
Expense ratio
DFSV 0.30%, better
LITL 0.90%
Fund size
DFSV $27.8B
LITL $6M
1Y total return
DFSV +27.6%, better
LITL +23.2%
Yield (12M)
DFSV 1.38%
LITL 2.72%, better
Holdings
DFSV 1053
LITL 185
Avg volume (30D)
DFSV 944K sh, better
LITL 1.77K sh
NAV per share
DFSV $39.41
LITL $33.84
52W range

ETF.net Grade

DFSV: Cost 91, Risk 59, Mission 62, Tradability 88, Holdings 80, Durability 97. LITL: Cost 5, Risk 70, Mission not scored, Tradability 12, Holdings 66, Durability 28.
Pillar letters and Scores for DFSV, LITL, with each pillar’s weight
PillarDFSVLITL
Cost30% weightA91HigherF5
Mission25% weightB62Not scored
Risk15% weightB59A70Higher
Tradability15% weightA88HigherF12
Holdings10% weightA80HigherB66
Durability5% weightA97HigherD28

Rank among US Active Small-Cap funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. DFSV and LITL are both graded against the same 39 US Active Small-Cap funds, so their Grades compare head to head.

US Active Small-Cap⁠

Category · 39 funds
See all 39 ›

DFSV ranks 3rd and LITL 30th of 39 funds in the US Active Small-Cap Category.

  1. Rank 1AAVSCAvantis U.S. Small Cap Equity ETFScore 88
  2. Rank 2AFESMFidelity Enhanced Small Cap ETFScore 85
  3. Rank 3ADFSVU.S. Small Cap Value Portfolio ETF Class SharesScore 82
  4. Rank 4ADUSGU.S. Small Cap Growth Portfolio: ETF Class SharesScore 75
  5. Rank 30DALILArgent Focused Small Cap ETFScore 29
  6. Rank 30DLITLSimplify Piper Sandler US Small-Cap PLUS Income ETFScore 29
  7. Rank 30DSGRWHarbor Active Small Cap Growth ETF (SGRW)Score 29

Our read on each fund

ETF.net Research

DFSVAU.S. Small Cap Value Portfolio ETF Class Shares

LITLDSimplify Piper Sandler US Small-Cap PLUS Income ETF

In short

DFSV Small-cap value, spread wide: roughly a thousand of the market's cheaper small companies, measured against the Russell 2000 Value Index. A deeper bench than most rivals carry, at a higher price than the plain index funds beside it.

LITL Most 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

DFSV The fund seeks long-term capital appreciation.

LITL 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

  • DFSV Roughly 1,000 holdings spread the small-value bet across the whole opportunity set instead of a handful of names.
  • A multi-billion-dollar fund that trades actively, so getting a position on or off is rarely the hard part.
  • Portfolio construction is the strong suit here: broad, diversified small-cap value exposure, with distributions paid quarterly.
  • The mandate is plainly stated: long-term capital appreciation from US stocks, no side quests.
  • LITL 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

  • DFSV At 0.30% a year it costs more than the typical US value ETF (median 0.18%), and VTWV runs against the same Russell 2000 Value benchmark for 0.06%.
  • Small-cap value is a bumpier corner than the large-cap value funds anchoring this group (VTV, SCHV), and the ride shows it.
  • Launched in 2022, so its live record is short next to the value funds it sits beside.
  • LITL 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

Full DFSV profile⁠

Full LITL profile⁠

DFSV vs LITL Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DFSV vs LITL Cost

Overpaying LITL vs DFSV

$10,891

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

  • DFSV 0.30%

    $6,149

  • LITL 0.90%

    $17,040

$10,000
30 years

Cost over time

  • DFSV 0.30%
  • LITL 0.90%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530LITL $17,040DFSV $6,149

Year by year

YearDFSVLITLOverpaying
10$545$1,593$1,048
20$2,113$6,015$3,902
30$6,149$17,040$10,891

Expense ratio

  • 0.30%DFSV, cheaper
  • 0.90%LITL
  • Middle half of US Active Small-Cap funds
  • Median 0.55%

DFSV 4th cheapest of 39 funds

LITL 37th cheapest of 39 funds

DFSV vs LITL Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
DFSV 1.38%
LITL 2.72%, better
Payout (12M)
DFSV $0.54
LITL $0.92
Last payment
DFSV $0.15
LITL $0.15
Ex-dividend
DFSV Sep 22, 2026
LITL Oct 27, 2026
Paid on
DFSV Sep 24, 2026
LITL Oct 30, 2026
Frequency
DFSV Quarterly
LITL Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

DFSVQuarterly · 15 paymentsAll DFSV payments⁠
One bar per payment. 15 payments from 2023 to 2026 YTD. Mar 21, 2023 $0.06; Jun 21, 2023 $0.10; Sep 19, 2023 $0.10; Dec 19, 2023 $0.11; Mar 19, 2024 $0.05; Jun 18, 2024 $0.11; Sep 17, 2024 $0.10; Dec 17, 2024 $0.14; Mar 25, 2025 $0.08; Jun 24, 2025 $0.14; Sep 23, 2025 $0.14; Dec 16, 2025 $0.14; Mar 24, 2026 $0.12; Jun 23, 2026 $0.13; Sep 22, 2026 $0.15. Use the arrow keys to read each point.$0$0.2520232026YTD
LITLMonthly · 12 paymentsAll LITL payments⁠
One bar per payment. 12 payments from 2023 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.$0$0.2520232026YTD

DFSV vs LITL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
DFSV 18.4%LITL 14.8%since May 2025
Return per unit of riskSharpe ratio, 3 years
DFSV 0.84LITL 1.34since May 2025
Worst fallMax drawdown, 5 years
DFSV −28.0%since Feb 2022LITL −9.4%since Apr 2025
Market sensitivityBeta, 5 years
DFSV 1.04LITL 0.69

DFSV and LITL in the news

All news⁠

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