- ISIN
- US82889N5665
- Issuer
- Simplify
- Inception Date
- Mar 27, 2023
- Category
- Commodities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Commodity
- Assets Under Management
- $83M
Highlights
- Avg. Volume (1M)
- 36K
- Avg. Volume Value (1M)
- $1.12M
Share Price Chart
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Performance
HARD Performance Chart
Simplify Commodities Strategy No K-1 ETF (HARD) is up 8.9% since the beginning of the year. HARD is currently trading at $32 per share.
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Returns By Period
Simplify Commodities Strategy No K-1 ETF (HARD) has returned 8.92% so far this year and 16.64% over the past 12 months.
Simplify Commodities Strategy No K-1 ETF
- 1D
- 0.65%
- 1M
- 7.37%
- 6M
- 3.84%
- YTD
- 8.92%
- 1Y
- 16.64%
- 3Y*
- 10.74%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.55%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
HARD Monthly Returns History
Based on dividend-adjusted daily data since Mar 28, 2023, HARD's average daily return is +0.05%, while the average monthly return is +0.93%. At this rate, an investment would double in approximately 6.2 years.
Historically, 59% of months were positive and 41% were negative. The best month was Aug 2025 with a return of +8.9%, while the worst month was May 2026 at -12.4%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 4 months.
On a daily basis, HARD closed higher 52% of trading days. The best single day was Apr 2, 2026 with a return of +4.5%, while the worst single day was Apr 8, 2026 at -7.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.89% | 5.76% | 8.55% | 6.39% | -12.38% | -9.13% | 6.80% | 8.92% | |||||
| 2025 | 7.35% | 0.22% | 7.17% | -9.85% | -1.36% | 2.65% | 0.52% | 8.89% | -0.90% | -1.77% | 1.17% | -1.12% | 12.19% |
| 2024 | -0.97% | 0.54% | 1.72% | 3.25% | 3.16% | -2.77% | -1.92% | 1.84% | 5.67% | -0.60% | 6.02% | 3.26% | 20.48% |
| 2023 | -0.39% | 1.16% | 1.79% | -3.32% | 4.19% | -0.66% | -0.02% | -5.27% | -3.04% | 0.75% | -5.04% |
Benchmark Metrics
Simplify Commodities Strategy No K-1 ETF has an annualized alpha of 10.96%, beta of 0.08, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since March 28, 2023.
- This ETF captured 24.44% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -22.43%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.08 may look defensive, but with R2 of 0.00 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.00 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 10.96%
- Beta
- 0.08
- R²
- 0.00
- Upside Capture
- 24.44%
- Downside Capture
- -22.43%
Expense Ratio
HARD has an expense ratio of 0.75%, placing it in the medium range.
Return for Risk
Risk / Return Rank
HARD ranks 25 for risk / return — above 25% of ETFs peers on PortfoliosLab. Its historical combined result is below the peer median.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Simplify Commodities Strategy No K-1 ETF (HARD) and compare them to S&P 500 Index.
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.
| HARD | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.83 | ||
| Sortino ratioReturn per unit of downside risk | -1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.25 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 2.00 | -1.26 |
| Martin ratioReturn relative to average drawdown | 1.84 | 8.49 | -6.65 |
Dividends
Dividend History
Simplify Commodities Strategy No K-1 ETF provided a 2.94% dividend yield over the last twelve months, with an annual payout of $0.93 per share.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $0.93 | $0.70 | $0.95 | $0.46 |
Dividend yield | 2.94% | 2.36% | 3.51% | 1.95% |
Monthly Dividends
The table displays the monthly dividend distributions for Simplify Commodities Strategy No K-1 ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.30 | $0.00 | $0.00 | $0.30 | $0.00 | $0.60 | |||||
| 2025 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.30 | $0.00 | $0.00 | $0.03 | $0.70 |
| 2024 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.30 | $0.00 | $0.00 | $0.35 | $0.95 |
| 2023 | $0.10 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.26 | $0.46 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Simplify Commodities Strategy No K-1 ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Simplify Commodities Strategy No K-1 ETF was 20.81%, occurring on Jul 2, 2026. The portfolio has not yet recovered.
The current Simplify Commodities Strategy No K-1 ETF drawdown is 14.97%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-20.81%Jul 2026 | 2mo 2d | — | 3mo 4dMay 2026 - now | — |
-13.51%Apr 2025 | 5d | 6mo 3d | 6mo 8dApr 2025 - Oct 2025 | 2025 selloff2025 |
-11.78%Mar 2024 | 6mo 28d | 2mo 13d | 9mo 11dAug 2023 - May 2024 | — |
-11.49%Apr 2026 | 10d | 12d | 22dApr 2026 - Apr 2026 | — |
-10.58%Jul 2024 | 2mo 5d | 4mo 3d | 6mo 8dMay 2024 - Nov 2024 | — |
Drawdown Indicators
| HARD | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.81% | -56.78% | +35.97% |
Max Drawdown (1Y)Largest decline over 1 year | -20.81% | -9.10% | -11.71% |
Max Drawdown (3Y)Largest decline over 3 years | -20.81% | -18.90% | -1.91% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -14.97% | -1.58% | -13.39% |
Average DrawdownAverage peak-to-trough decline | -6.00% | -10.70% | +4.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.43% | 2.14% | +6.29% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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