Simplify Piper Sandler US Small-Cap PLUS Income ETF

C000259701 Fund Overview

Simplify Piper Sandler US Small-Cap PLUS Income ETF is a US ETF managed by Simplify Exchange Traded Funds, categorised as United States Small Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: Simplify Exchange Traded Funds
• Category: United States Small Cap Blend / Core Equity
• Assets under management: $6.87M
• 1-year return: 27.2%
• SEC CIK: 0001810747
• SEC series ID: S000091859
• Share class ID: C000259701

C000259701 Investment Objective and Strategy

Simplify Piper Sandler US Small-Cap PLUS Income ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Simplify Exchange Traded Funds.

Investment objective

Investment Objective: The Simplify Piper Sandler US Small-Cap PLUS Income ETF (the Fund or LITL) seeks capital appreciation and income.

Principal investment strategy

The Fund is an actively managed exchange-traded fund (ETF). The Funds investment adviser, Simplify Asset Management Inc. (the Adviser), collaborates with the Funds sub-adviser, Piper Sandler & Co. (the Sub-Adviser), to seek to achieve the Funds investment objective. The Sub-Adviser employs an actively managed opportunistic strategy that focuses on relative value among common stocks of small-cap issuers. The Adviser employs an income generating option strategy. Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of US small-capitalization companies. The Fund defines small-capitalization companies as those, at the time of purchase, with market capitalizations no larger than the largest constituent of the Russell 2000 Index.

As of December 31, 2024, the largest company capitalization in this index was $14.7 billion. The Fund defines US companies as those organized in the US; having a class of securities whose principal securities market is in the US; or deriving 50% or more of total revenues or earnings from goods produced, sales made, or services provided in the US, or maintaining 50% or more of employees, assets, investments, operations, or other business activity in the US. Sub-Advisers Small-Cap Strategy The Sub-Adviser constructs the small-cap strategy allocation of the Funds portfolio by applying proprietary screens to an initial universe of stocks. The Sub-Adviser begins with a universe represented by the Russell 2000 Index, then screens out stocks it considers insufficiently liquid because they represent the bottom 20% of trading volume.

From this reduced universe, the Sub-Adviser then ranks stocks by expected return using a macroeconomic model (the Macro Select Model) and a business cycle model (the Business Cycle Model). The Sub-Advisers Macro Select Model examines the effect of broad macro-economic factors on stocks expected returns. These factors include consumer confidence, unemployment rate, monetary policy, interest rates, inflation, and GDP growth rates. The Sub-Advisers Business Cycle Model examines the effect of the current and projected phase of the US economy: expansion, peak, contraction, and trough. This screening process generates a 200-stock, equally-weighted portfolio. The Sub-Adviser reconstructs the portfolio monthly using this process. Advisers Income Generating Option Strategy To generate additional income, the Fund employs an exchange traded and over-the-counter (OTC) option spread writing strategy on instruments linked to equities, debt, volatility indices, commodities, and currencies with up to 20% of the Funds net assets (plus any borrowings for investment purposes).

The equity holdings include primarily U.S. companies but may include companies from both emerging and developed foreign markets and may include companies of any market capitalization and the debt holding securities may be of any maturity or credit quality. The commodity strategies may include all types of commodities and commodity indexes. Currency strategies are those that attempt to profit from the changes in the relative value of various currencies. Volatility strategies are those that attempt to profit from the changes in the historical or implied return volatility of futures or securities indexes. Volatility is a measure of a reference assets historical or expected future price movements. A call option gives the owner the right, but not the obligation, to buy an asset at a specified price (strike price) within a specific time period.

A put option gives the owner the right, but not the obligation, to sell an asset at a specified price (strike price) within a specific time period. By selling put and call options in return for the receipt of premiums (the purchase price of an option), the Adviser attempts to increase Fund income as the passage of time decreases the value of the written options. While option-based gains are considered capital gains under GAAP (generally accepted accounting principles) they are commonly described as income by securities market participants. The option writing strategy is a form of leveraged investing. The Adviser focuses on writing short-term options with less than one-month to maturity because their value erodes faster than long-term options. Call Spread Strategy When the Adviser believes an assets price will decrease, remain unchanged, or only increase slightly it employs a call spread strategy.

In a call option spread, the Fund writes an at-the-money or out-of-the-money (above current market price) call option while also purchasing a further out-of-the-money call option. Put Spread Strategy When the Adviser believes an assets price will increase, remain unchanged, or only decrease slightly it employs a put spread strategy. In a put option spread, the Fund writes an at-the-money or out-of-the-money (below current market price) put option while also purchasing a further out-of-the-money put option. The Adviser expects the written options to expire worthless, but purchases lower-cost further out-of-the-money options to insulate the Fund from large losses if the written options increase in value. The Adviser expects options to be held to expiration but may adjust positions following a large (over 10%) price swing in an options reference asset.

When writing options, the Fund is required to post collateral to assure its performance to the option buyer. The Fund will hold cash and cash-like instruments or high-quality short term fixed income securities (collectively, Collateral). The Collateral may consist of (1) U.S. Government securities, such as bills, notes and bonds issued by the U.S. Treasury; (2) money market funds (including affiliated money market ETFs); (3) fixed income ETFs; and/or (4) corporate debt securities, such as commercial paper and other short-term unsecured promissory notes issued by companies that are rated investment grade or of comparable quality. The Adviser considers an unrated security to be of comparable quality to a security rated investment grade if it believes it has a similar low risk of default. The Fund is classified as a non-diversified investment company under the Investment Company Act of 1940, as amended, which means that the Fund may invest a higher percentage of its assets in a fewer number of issuers than is permissible for a diversified Fund.

C000259701 Holdings

Top 10 holdings of Simplify Piper Sandler US Small-Cap PLUS Income ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all C000259701 holdings

C000259701 Portfolio Allocation

Asset-class allocation of Simplify Piper Sandler US Small-Cap PLUS Income ETF by percentage of net assets, from the latest SEC N-PORT filing.

C000259701 Performance

Total returns for C000259701 (as of 2026-10-01), from SEC filings.

C000259701 Risk Information

Risk metrics for C000259701, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 16.3%

C000259701 Costs and Fees

C000259701 costs about $91 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.91%
• Gross expense ratio: 0.91%
• Portfolio turnover: 44%
• Brokerage commissions: 22.90 bps of average net assets (SEC N-CEN)

C000259701 Cashflows

Over the 12 months to 2026-06, Simplify Piper Sandler US Small-Cap PLUS Income ETF had net inflows of $1.45M, from monthly SEC N-PORT filings.

C000259701 Debt Constituents

Largest debt holdings of Simplify Piper Sandler US Small-Cap PLUS Income ETF by percentage of net assets, from the latest SEC N-PORT filing.

C000259701 Prospectus and SEC Filings

Official Simplify Piper Sandler US Small-Cap PLUS Income ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2025-10-28
• Prospectus (485BPOS) — filed 2025-04-23
• Prospectus supplement (497) — filed 2025-10-31
• Portfolio holdings (N-PORT) — filed 2026-08-24
• Portfolio holdings (N-PORT) — filed 2026-05-27
• Portfolio holdings (N-PORT) — filed 2026-02-23
• Annual census (N-CEN) — filed 2026-09-11
• Annual census (N-CEN) — filed 2025-09-08

Related Funds

Other United States Small Cap Blend / Core Equity funds tracked on ABC INVEST:

• iShares Core S&P Small-Cap ETF (IJR)
• iShares Russell 2000 ETF (IWM)
• Fidelity Small Cap Index Fund (FSSNX)
• Schwab U.S. Small-Cap ETF (SCHA)
• U.s. Small Cap Portfolio (DFSTX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.