- 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
- $92M
Share Price Chart
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Performance
HARD Performance Chart
Simplify Commodities Strategy No K-1 ETF (HARD) is up 4.9% since the beginning of the year. HARD is currently trading at $31 per share.
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Returns By Period
Simplify Commodities Strategy No K-1 ETF (HARD) has returned 4.88% so far this year and 8.74% over the past 12 months.
Simplify Commodities Strategy No K-1 ETF
- 1D
- -0.66%
- 1M
- -11.24%
- YTD
- 4.88%
- 6M
- 2.63%
- 1Y
- 8.74%
- 3Y*
- 10.40%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
HARD Monthly Returns History
Based on dividend-adjusted daily data since Mar 28, 2023, HARD's average daily return is +0.04%, while the average monthly return is +0.85%. At this rate, an investment would double in approximately 6.8 years.
Historically, 58% of months were positive and 43% 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% | -6.55% | 4.88% | ||||||
| 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 9.65%, beta of 0.09, 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 -8.58%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.09 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
- 9.65%
- Beta
- 0.09
- R²
- 0.00
- Upside Capture
- 24.44%
- Downside Capture
- -8.58%
Expense Ratio
HARD has an expense ratio of 0.75%, placing it in the medium range.
Return for Risk
Risk / Return Rank
HARD ranks 13 for risk / return — in the bottom 13% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by 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 | -1.70 | ||
| Sortino ratioReturn per unit of downside risk | -2.16 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.37 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.48 | 2.78 | -2.30 |
| Martin ratioReturn relative to average drawdown | 1.41 | 12.44 | -11.03 |
Dividends
Dividend History
Simplify Commodities Strategy No K-1 ETF provided a 2.86% dividend yield over the last twelve months, with an annual payout of $0.88 per share.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $0.88 | $0.70 | $0.95 | $0.46 |
Dividend yield | 2.86% | 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 | $0.00 | $0.30 | ||||||
| 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 18.12%, occurring on Jun 22, 2026. The portfolio has not yet recovered.
The current Simplify Commodities Strategy No K-1 ETF drawdown is 18.12%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 correction2026 | -18.12%Jun 2026 | 1mo 22d | — | 1mo 23dMay 2026 - now |
2025 selloff2025 | -13.51%Apr 2025 | 5d | 6mo 3d | 6mo 8dApr 2025 - Oct 2025 |
2024 correction2024 | -11.78%Mar 2024 | 6mo 28d | 2mo 13d | 9mo 11dAug 2023 - May 2024 |
2026 correction2026 | -11.49%Apr 2026 | 10d | 12d | 22dApr 2026 - Apr 2026 |
2024 correction2024 | -10.58%Jul 2024 | 2mo 5d | 4mo 3d | 6mo 8dMay 2024 - Nov 2024 |
Drawdown Indicators
| HARD | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.12% | -56.78% | +38.66% |
Max Drawdown (1Y)Largest decline over 1 year | -18.12% | -9.10% | -9.02% |
Max Drawdown (3Y)Largest decline over 3 years | -18.12% | -18.90% | +0.78% |
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 | -18.12% | -1.80% | -16.32% |
Average DrawdownAverage peak-to-trough decline | -5.61% | -10.71% | +5.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.21% | 2.03% | +4.18% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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