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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Simplify Commodities Strategy No K-1 ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Simplify Commodities Strategy No K-1 ETF (HARD) has returned 20.41% so far this year and 17.15% over the past 12 months.
Simplify Commodities Strategy No K-1 ETF
- 1D
- -1.39%
- 1M
- 8.55%
- YTD
- 20.41%
- 6M
- 18.31%
- 1Y
- 17.15%
- 3Y*
- 15.77%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Mar 28, 2023, HARD's average daily return is +0.06%, while the average monthly return is +1.26%. At this rate, your investment would double in approximately 4.6 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 Apr 2025 at -9.9%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 4 months.
On a daily basis, HARD closed higher 53% of trading days. The best single day was Jan 10, 2025 with a return of +4.0%, while the worst single day was Mar 23, 2026 at -7.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.89% | 5.76% | 8.55% | 20.41% | |||||||||
| 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 | -0.40% | 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 14.43%, beta of 0.15, and R² of 0.02 versus S&P 500 Index. Calculated based on daily prices since March 29, 2023.
- This ETF captured 37.88% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -35.92%) — a profile typical of hedging or uncorrelated assets.
- Beta of 0.15 may look defensive, but with R² of 0.02 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 0.02 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
- 14.43%
- Beta
- 0.15
- R²
- 0.02
- Upside Capture
- 37.88%
- Downside Capture
- -35.92%
Expense Ratio
HARD has an expense ratio of 0.75%, placing it in the medium range.
Return for Risk
Risk / Return Rank
HARD ranks 36 for risk / return — below 36% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
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 a chosen benchmark (S&P 500 Index).
| HARD | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.72 | 0.90 | -0.17 |
Sortino ratioReturn per unit of downside risk | 1.04 | 1.39 | -0.35 |
Omega ratioGain probability vs. loss probability | 1.14 | 1.21 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.34 | 1.40 | -0.06 |
Martin ratioReturn relative to average drawdown | 2.53 | 6.61 | -4.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore HARD risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Simplify Commodities Strategy No K-1 ETF provided a 2.49% 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 | 2.49% | 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 | $0.30 | |||||||||
| 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 13.51%, occurring on Apr 8, 2025. Recovery took 126 trading sessions.
The current Simplify Commodities Strategy No K-1 ETF drawdown is 1.39%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -13.51% | Apr 3, 2025 | 4 | Apr 8, 2025 | 126 | Oct 8, 2025 | 130 |
| -11.78% | Aug 10, 2023 | 143 | Mar 5, 2024 | 52 | May 17, 2024 | 195 |
| -10.58% | May 21, 2024 | 45 | Jul 25, 2024 | 86 | Nov 25, 2024 | 131 |
| -10.56% | Oct 17, 2025 | 27 | Nov 24, 2025 | 44 | Jan 29, 2026 | 71 |
| -8.09% | Feb 20, 2025 | 7 | Feb 28, 2025 | 23 | Apr 2, 2025 | 30 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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