HARD vs. CCRV
HARD (Simplify Commodities Strategy No K-1 ETF) and CCRV (iShares Commodity Curve Carry Strategy ETF) are both Commodities funds. HARD is actively managed, while CCRV is passively managed. At a 0.21 correlation, their price movements are largely independent. HARD charges 0.75%/yr vs 0.40%/yr for CCRV.
Performance
HARD vs. CCRV - Performance Comparison
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Returns By Period
HARD
- 1D
- -0.24%
- 1M
- -9.01%
- YTD
- 14.81%
- 6M
- 14.73%
- 1Y
- 24.26%
- 3Y*
- 13.00%
- 5Y*
- —
- 10Y*
- —
CCRV
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HARD vs. CCRV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HARD Simplify Commodities Strategy No K-1 ETF | 14.81% | 12.19% | 20.48% | -5.04% |
CCRV iShares Commodity Curve Carry Strategy ETF | 0.00% | -0.05% | 5.74% | 8.33% |
Correlation
The correlation between HARD and CCRV is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2023 | 0.21 |
The correlation between HARD and CCRV shifts across timeframes, from 0.07 (1 year) to 0.23 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
HARD vs. CCRV — Risk / Return Rank
HARD
CCRV
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 ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.17 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | — | — |
| Martin ratioReturn relative to average drawdown | 4.51 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HARD | CCRV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | — | — |
Drawdowns
HARD vs. CCRV - Drawdown Comparison
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Drawdown Indicators
| HARD | CCRV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.51% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -12.38% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -13.51% | — | — |
Current DrawdownCurrent decline from peak | -10.38% | — | — |
Average DrawdownAverage peak-to-trough decline | -5.47% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.39% | — | — |
Volatility
HARD vs. CCRV - Volatility Comparison
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Volatility by Period
| HARD | CCRV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.11% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 21.64% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 26.47% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.09% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.09% | — | — |
HARD vs. CCRV - Expense Ratio Comparison
HARD has a 0.75% expense ratio, which is higher than CCRV's 0.40% expense ratio.
Dividends
HARD vs. CCRV - Dividend Comparison
HARD's dividend yield for the trailing twelve months is around 2.61%, while CCRV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CCRV iShares Commodity Curve Carry Strategy ETF | 0.00% | 0.00% | 4.43% | 7.26% | 33.27% | 26.22% |
HARD Simplify Commodities Strategy No K-1 ETF | 2.61% | 2.36% | 3.51% | 1.95% | 0.00% | 0.00% |
Frequently Asked Questions
HARD and CCRV have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CCRV is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CCRV is cheaper with a 0.40% expense ratio, compared with 0.75% for HARD.
HARD has the higher dividend yield at 2.61%, compared with 0.00% for CCRV.
They also come from different issuers: Simplify and iShares. Their fees differ too: 0.75% for HARD and 0.40% for CCRV.
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