XSEP vs. LITL
XSEP (FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September) and LITL (Simplify Piper Sandler US Small-Cap PLUS Income ETF) are both exchange-traded funds - XSEP is a Options Trading fund actively managed by FT Vest, while LITL is a Small Cap Blend Equities fund actively managed by Simplify. Both are actively managed. Over the past year, XSEP returned 9.79% vs 34.58% for LITL. Their 0.71 correlation means they have sometimes moved together and sometimes differently. XSEP charges 0.85%/yr vs 0.91%/yr for LITL.
Performance
XSEP vs. LITL - Performance Comparison
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Returns By Period
In the year-to-date period, XSEP achieves a 5.76% return, which is significantly lower than LITL's 17.71% return.
XSEP
- 1D
- 0.25%
- 1M
- 0.95%
- 6M
- 4.89%
- YTD
- 5.76%
- 1Y
- 9.79%
- 3Y*
- 9.55%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.92%
LITL
- 1D
- 2.32%
- 1M
- -0.14%
- 6M
- 13.50%
- YTD
- 17.71%
- 1Y
- 34.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 30.54%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $101.38K | $73.38K | $60.57K | |
| $107.26K | $131.16K | $331.82K |
XSEP vs. LITL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XSEP FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September | 5.76% | 10.31% |
LITL Simplify Piper Sandler US Small-Cap PLUS Income ETF | 17.71% | 18.93% |
Correlation
The correlation between XSEP and LITL is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.70 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025 | 0.71 |
The correlation between XSEP and LITL has been stable across timeframes, ranging from 0.70 to 0.71 - a consistent structural relationship.
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Return for Risk
XSEP vs. LITL — Risk / Return Rank
XSEP
LITL
XSEP vs. LITL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP) and Simplify Piper Sandler US Small-Cap PLUS Income ETF (LITL). 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.
| XSEP | LITL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.33 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | 3.73 | -0.92 |
| Martin ratioReturn relative to average drawdown | 14.90 | 11.66 | +3.24 |
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Drawdowns
XSEP vs. LITL - Drawdown Comparison
The maximum XSEP drawdown since its inception was -9.21%, roughly equal to the maximum LITL drawdown of -9.32%. Use the drawdown chart below to compare losses from any high point for XSEP and LITL.
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Drawdown Indicators
| XSEP | LITL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.21% | -9.32% | +0.11% |
Max Drawdown (1Y)Largest decline over 1 year | -3.51% | -9.32% | +5.81% |
Max Drawdown (3Y)Largest decline over 3 years | -9.21% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.72% | +0.72% |
Average DrawdownAverage peak-to-trough decline | -0.53% | -2.23% | +1.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 2.97% | -2.31% |
Volatility
XSEP vs. LITL - Volatility Comparison
The current volatility for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP) is 0.82%, while Simplify Piper Sandler US Small-Cap PLUS Income ETF (LITL) has a volatility of 4.27%. This indicates that XSEP experiences smaller price fluctuations and is considered to be less risky than LITL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSEP | LITL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 4.27% | -3.45% |
Volatility (6M)Calculated over the trailing 6-month period | 3.80% | 12.34% | -8.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.85% | 18.13% | -13.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.90% | 18.40% | -11.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.90% | 18.40% | -11.50% |
XSEP vs. LITL - Expense Ratio Comparison
XSEP has a 0.85% expense ratio, which is lower than LITL's 0.91% expense ratio.
Dividends
XSEP vs. LITL - Dividend Comparison
XSEP has not paid dividends to shareholders, while LITL's dividend yield for the trailing twelve months is around 1.63%.
| Position | TTM | 2025 |
|---|---|---|
LITL Simplify Piper Sandler US Small-Cap PLUS Income ETF | 1.63% | 0.71% |
XSEP FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September | 0.00% | 0.00% |
Frequently Asked Questions
XSEP and LITL have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LITL has higher volatility (4.27%) compared to XSEP (0.82%). In terms of maximum drawdown, XSEP dropped -9.21% vs LITL's -9.32%.
On 1-year performance, LITL leads with 34.58% vs 9.79% for XSEP. On fees, XSEP is cheaper at 0.85% per year. On volatility, XSEP has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, LITL has performed better with a 34.58% return vs 9.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XSEP is cheaper with a 0.85% expense ratio, compared with 0.91% for LITL.
LITL has the higher dividend yield at 1.63%, compared with 0.00% for XSEP.
XSEP is categorized as Options Trading, while LITL is Small Cap Blend Equities. They also come from different issuers: FT Vest and Simplify. Their fees differ too: 0.85% for XSEP and 0.91% for LITL.
XSEP currently has the higher Sharpe Ratio (2.03 vs 1.92), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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