HARD vs. CCRV

Last updated Apr 1, 2026

Compare and contrast key facts about Simplify Commodities Strategy No K-1 ETF (HARD) and iShares Commodity Curve Carry Strategy ETF (CCRV).

HARD and CCRV 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. CCRV is a passively managed fund by iShares that tracks the performance of the CCRV-US - ICE BofA Commodity Enhanced Carry Index. It was launched on Sep 1, 2020.

Performance

HARD vs. CCRV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Commodities Strategy No K-1 ETF (HARD) and iShares Commodity Curve Carry Strategy ETF (CCRV). The values are adjusted to include any dividend payments, if applicable.

HARD vs. CCRV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HARD Simplify Commodities Strategy No K-1 ETF	20.41%	12.19%	20.48%	-5.04%
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	-0.05%	5.74%	8.33%

Returns By Period

HARD

• 1D: -1.39%
• 1M: 8.55%
• YTD: 20.41%
• 6M: 18.31%
• 1Y: 17.15%
• 3Y*: 15.77%
• 5Y*: —
• 10Y*: —

CCRV

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HARD vs. CCRV - Expense Ratio Comparison

HARD has a 0.75% expense ratio, which is higher than CCRV's 0.40% expense ratio.

HARD

Simplify Commodities Strategy No K-1 ETF

CCRV

iShares Commodity Curve Carry Strategy ETF

Return for Risk

HARD vs. CCRV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HARD

HARD Risk / Return Rank: 40
HARD Sharpe Ratio Rank: 41
HARD Sortino Ratio Rank: 38
HARD Omega Ratio Rank: 36
HARD Calmar Ratio Rank: 56
HARD Martin Ratio Rank: 31

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HARD vs. CCRV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Commodities Strategy No K-1 ETF (HARD) and iShares Commodity Curve Carry Strategy ETF (CCRV). 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.

	HARD	CCRV	Difference
Sharpe ratio Return per unit of total volatility	0.72	—	—
Sortino ratio Return per unit of downside risk	1.04	—	—
Omega ratio Gain probability vs. loss probability	1.14	—	—
Calmar ratio Return relative to maximum drawdown	1.34	—	—
Martin ratio Return relative to average drawdown	2.53	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HARD	CCRV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.72	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	—	—

Correlation

The correlation between HARD and CCRV 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.

Dividends

HARD vs. CCRV - Dividend Comparison

HARD's dividend yield for the trailing twelve months is around 2.49%, while CCRV has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021
HARD Simplify Commodities Strategy No K-1 ETF	2.49%	2.36%	3.51%	1.95%	0.00%	0.00%
CCRV iShares Commodity Curve Carry Strategy ETF	0.00%	0.00%	4.43%	7.26%	33.27%	26.22%

Drawdowns

Drawdown Indicators

	HARD	CCRV	Difference
Max Drawdown Largest peak-to-trough decline	-13.51%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-13.51%	—	—
Current Drawdown Current decline from peak	-1.39%	—	—
Average Drawdown Average peak-to-trough decline	-5.44%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	7.17%	—	—

Volatility

Volatility by Period

	HARD	CCRV	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.53%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	23.78%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.48%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.48%	—	—