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HARD vs. CAOS
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

HARD vs. CAOS

Last updated May 20, 2025

Compare and contrast key facts about Simplify Commodities Strategy No K-1 ETF (HARD) and Alpha Architect Tail Risk ETF (CAOS).

HARD and CAOS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HARD is an actively managed fund by Simplify. It was launched on Mar 27, 2023. CAOS is an actively managed fund by Alpha Architect. It was launched on Aug 14, 2013.

Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HARD or CAOS.

Correlation

The correlation between HARD and CAOS is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Performance

HARD vs. CAOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Commodities Strategy No K-1 ETF (HARD) and Alpha Architect Tail Risk ETF (CAOS). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

HARD:

0.86

CAOS:

0.92

Sortino Ratio

HARD:

1.38

CAOS:

1.33

Omega Ratio

HARD:

1.18

CAOS:

1.35

Calmar Ratio

HARD:

1.31

CAOS:

1.37

Martin Ratio

HARD:

2.84

CAOS:

4.18

Ulcer Index

HARD:

6.26%

CAOS:

1.17%

Daily Std Dev

HARD:

18.31%

CAOS:

5.35%

Max Drawdown

HARD:

-13.51%

CAOS:

-3.60%

Current Drawdown

HARD:

-8.96%

CAOS:

-3.37%

Returns By Period

In the year-to-date period, HARD achieves a 7.07% return, which is significantly higher than CAOS's 0.99% return.

HARD

YTD

7.07%

1M

1.37%

6M

18.42%

1Y

15.59%

3Y*

N/A

5Y*

N/A

10Y*

N/A

CAOS

YTD

0.99%

1M

-1.03%

6M

1.52%

1Y

4.90%

3Y*

N/A

5Y*

N/A

10Y*

N/A

*Annualized

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Simplify Commodities Strategy No K-1 ETF

Alpha Architect Tail Risk ETF

HARD vs. CAOS - Expense Ratio Comparison

HARD has a 0.75% expense ratio, which is higher than CAOS's 0.63% expense ratio.

HARD
Simplify Commodities Strategy No K-1 ETF
CAOS
Alpha Architect Tail Risk ETF

Risk-Adjusted Performance

HARD vs. CAOS — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HARD
The Risk-Adjusted Performance Rank of HARD is 7777
Overall Rank
The Sharpe Ratio Rank of HARD is 7777
Sharpe Ratio Rank
The Sortino Ratio Rank of HARD is 7878
Sortino Ratio Rank
The Omega Ratio Rank of HARD is 7575
Omega Ratio Rank
The Calmar Ratio Rank of HARD is 8787
Calmar Ratio Rank
The Martin Ratio Rank of HARD is 6969
Martin Ratio Rank
CAOS
The Risk-Adjusted Performance Rank of CAOS is 8383
Overall Rank
The Sharpe Ratio Rank of CAOS is 7979
Sharpe Ratio Rank
The Sortino Ratio Rank of CAOS is 7676
Sortino Ratio Rank
The Omega Ratio Rank of CAOS is 9393
Omega Ratio Rank
The Calmar Ratio Rank of CAOS is 8787
Calmar Ratio Rank
The Martin Ratio Rank of CAOS is 8181
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

HARD vs. CAOS - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Commodities Strategy No K-1 ETF (HARD) and Alpha Architect Tail Risk ETF (CAOS). 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.

The current HARD Sharpe Ratio is 0.86, which is comparable to the CAOS Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of HARD and CAOS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Dividends

HARD vs. CAOS - Dividend Comparison

HARD's dividend yield for the trailing twelve months is around 3.18%, while CAOS has not paid dividends to shareholders.

TTM20242023
HARD
Simplify Commodities Strategy No K-1 ETF		3.18%3.50%1.95%
CAOS
Alpha Architect Tail Risk ETF		0.00%0.00%0.00%

Drawdowns

HARD vs. CAOS - Drawdown Comparison

The maximum HARD drawdown since its inception was -13.51%, which is greater than CAOS's maximum drawdown of -3.60%. Use the drawdown chart below to compare losses from any high point for HARD and CAOS. For additional features, visit the drawdowns tool.

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Volatility

HARD vs. CAOS - Volatility Comparison

Simplify Commodities Strategy No K-1 ETF (HARD) has a higher volatility of 5.00% compared to Alpha Architect Tail Risk ETF (CAOS) at 0.74%. This indicates that HARD's price experiences larger fluctuations and is considered to be riskier than CAOS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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