LITL vs. ASCE

Last updated Jul 1, 2026

LITL (Simplify Piper Sandler US Small-Cap PLUS Income ETF) and ASCE (Allspring SMID Core ETF) are both Small Cap Blend Equities funds. Their correlation of 0.83 suggests significant overlap in exposure. LITL charges 0.91%/yr vs 0.38%/yr for ASCE.

Performance

LITL vs. ASCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Piper Sandler US Small-Cap PLUS Income ETF (LITL) and Allspring SMID Core ETF (ASCE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LITL achieves a 17.72% return, which is significantly lower than ASCE's 30.79% return.

LITL

• 1D: 0.53%
• 1M: 9.16%
• YTD: 17.72%
• 6M: 16.76%
• 1Y: 26.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ASCE

• 1D: 1.51%
• 1M: 7.45%
• YTD: 30.79%
• 6M: 28.30%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

LITL vs. ASCE - Yearly Performance Comparison

	2026 (YTD)	2025
LITL Simplify Piper Sandler US Small-Cap PLUS Income ETF	17.72%	7.78%
ASCE Allspring SMID Core ETF	30.79%	8.46%

Correlation

The correlation between LITL and ASCE is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025	0.83

Return for Risk

LITL vs. ASCE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LITL

LITL Risk / Return Rank: 52
LITL Sharpe Ratio Rank: 47
LITL Sortino Ratio Rank: 48
LITL Omega Ratio Rank: 44
LITL Calmar Ratio Rank: 68
LITL Martin Ratio Rank: 54

ASCE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LITL vs. ASCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Piper Sandler US Small-Cap PLUS Income ETF (LITL) and Allspring SMID Core ETF (ASCE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	LITL	ASCE	Difference
Sharpe ratio: Return per unit of total volatility	1.43	—	—
Sortino ratio: Return per unit of downside risk	2.11	—	—
Omega ratio: Gain probability vs. loss probability	1.25	—	—
Calmar ratio: Return relative to maximum drawdown	2.86	—	—
Martin ratio: Return relative to average drawdown	7.95	—	—

Drawdowns

LITL vs. ASCE - Drawdown Comparison

The maximum LITL drawdown since its inception was -9.32%, roughly equal to the maximum ASCE drawdown of -9.22%. Use the drawdown chart below to compare losses from any high point for LITL and ASCE.

Drawdown Indicators

	LITL	ASCE	Difference
Max Drawdown Largest peak-to-trough decline	-9.32%	-9.22%	-0.10%
Max Drawdown (1Y) Largest decline over 1 year	-9.32%	—	—
Current Drawdown Current decline from peak	0.00%	-0.37%	+0.37%
Average Drawdown Average peak-to-trough decline	-2.28%	-2.00%	-0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	—	—

Volatility

Volatility by Period

	LITL	ASCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.72%	19.65%	-0.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.69%	19.65%	-0.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.69%	19.65%	-0.96%

LITL vs. ASCE - Expense Ratio Comparison

LITL has a 0.91% expense ratio, which is higher than ASCE's 0.38% expense ratio.

Dividends

LITL vs. ASCE - Dividend Comparison

LITL's dividend yield for the trailing twelve months is around 1.48%, more than ASCE's 0.17% yield.

Position	TTM	2025
ASCE Allspring SMID Core ETF	0.17%	0.22%
LITL Simplify Piper Sandler US Small-Cap PLUS Income ETF	1.48%	0.71%

Frequently Asked Questions

Can I hold both LITL and ASCE in my portfolio?

LITL and ASCE have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LITL or ASCE?

On fees, ASCE is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LITL or ASCE?

ASCE is cheaper with a 0.38% expense ratio, compared with 0.91% for LITL.

Which ETF pays a higher dividend yield, LITL or ASCE?

LITL has the higher dividend yield at 1.48%, compared with 0.17% for ASCE.

What is the main difference between LITL and ASCE?

They also come from different issuers: Simplify and Allspring. Their fees differ too: 0.91% for LITL and 0.38% for ASCE.