HARD vs. COMT

Last updated Jun 24, 2026

HARD (Simplify Commodities Strategy No K-1 ETF) and COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) are both Commodities funds. HARD is actively managed, while COMT is passively managed. Over the past 3 years, HARD returned 9.88%/yr vs 12.01%/yr for COMT. At a 0.46 correlation, their price movements are largely independent. HARD charges 0.75%/yr vs 0.48%/yr for COMT.

Performance

HARD vs. COMT - 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 GSCI Commodity Dynamic Roll Strategy ETF (COMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HARD achieves a 3.42% return, which is significantly lower than COMT's 23.88% return.

HARD

• 1D: -1.40%
• 1M: -12.47%
• YTD: 3.42%
• 6M: 1.80%
• 1Y: 8.63%
• 3Y*: 9.88%
• 5Y*: —
• 10Y*: —

COMT

• 1D: -0.93%
• 1M: -11.91%
• YTD: 23.88%
• 6M: 22.75%
• 1Y: 25.27%
• 3Y*: 12.01%
• 5Y*: 10.76%
• 10Y*: 7.96%

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

HARD vs. COMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HARD Simplify Commodities Strategy No K-1 ETF	3.42%	12.19%	20.48%	-5.04%
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF	23.88%	6.07%	5.96%	-1.31%

Correlation

The correlation between HARD and COMT is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (All Time) Calculated using the full available price history since Mar 28, 2023	0.46

Over the past year, HARD and COMT have become more correlated (0.75) than their long-term average of 0.46, meaning their price movements have been converging.

Return for Risk

HARD vs. COMT — Risk / Return Rank

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

HARD

HARD Risk / Return Rank: 14
HARD Sharpe Ratio Rank: 13
HARD Sortino Ratio Rank: 13
HARD Omega Ratio Rank: 13
HARD Calmar Ratio Rank: 14
HARD Martin Ratio Rank: 15

COMT

COMT Risk / Return Rank: 36
COMT Sharpe Ratio Rank: 35
COMT Sortino Ratio Rank: 34
COMT Omega Ratio Rank: 34
COMT Calmar Ratio Rank: 34
COMT Martin Ratio Rank: 44

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. COMT - 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 GSCI Commodity Dynamic Roll Strategy ETF (COMT). 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.

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	COMT	Difference
Sharpe ratio: Return per unit of total volatility	0.33	1.20	-0.87
Sortino ratio: Return per unit of downside risk	0.59	1.71	-1.12
Omega ratio: Gain probability vs. loss probability	1.08	1.22	-0.14
Calmar ratio: Return relative to maximum drawdown	0.45	1.63	-1.18
Martin ratio: Return relative to average drawdown	1.37	6.99	-5.62

HARD vs. COMT - Sharpe Ratio Comparison

The current HARD Sharpe Ratio is 0.33, which is lower than the COMT Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of HARD and COMT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HARD vs. COMT - Drawdown Comparison

The maximum HARD drawdown since its inception was -19.27%, smaller than the maximum COMT drawdown of -51.89%. Use the drawdown chart below to compare losses from any high point for HARD and COMT.

Drawdown Indicators

	HARD	COMT	Difference
Max Drawdown Largest peak-to-trough decline	-19.27%	-51.89%	+32.62%
Max Drawdown (1Y) Largest decline over 1 year	-19.27%	-15.58%	-3.69%
Max Drawdown (3Y) Largest decline over 3 years	-19.27%	-15.58%	-3.69%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.00%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.22%	—
Current Drawdown Current decline from peak	-19.27%	-15.58%	-3.69%
Average Drawdown Average peak-to-trough decline	-5.62%	-24.00%	+18.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.31%	3.65%	+2.66%

Volatility

HARD vs. COMT - Volatility Comparison

Simplify Commodities Strategy No K-1 ETF (HARD) and iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) have volatilities of 5.05% and 5.02%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HARD	COMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.05%	5.02%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	21.92%	19.24%	+2.68%
Volatility (1Y) Calculated over the trailing 1-year period	26.36%	21.45%	+4.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.06%	21.13%	-2.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.06%	18.86%	+0.20%

HARD vs. COMT - Expense Ratio Comparison

HARD has a 0.75% expense ratio, which is higher than COMT's 0.48% expense ratio.

Dividends

HARD vs. COMT - Dividend Comparison

HARD's dividend yield for the trailing twelve months is around 2.90%, less than COMT's 6.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF	6.25%	7.74%	4.90%	5.19%	29.79%	17.79%	0.36%	2.61%	11.65%	5.16%	0.52%	1.44%
HARD Simplify Commodities Strategy No K-1 ETF	2.90%	2.36%	3.51%	1.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HARD and COMT in my portfolio?

HARD and COMT have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HARD or COMT?

HARD has higher volatility (5.05%) compared to COMT (5.02%). In terms of maximum drawdown, HARD dropped -19.27% vs COMT's -51.89%.

Which ETF is better, HARD or COMT?

On 3-year performance, COMT leads with 12.01% vs 9.88% for HARD. On fees, COMT is cheaper at 0.48% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HARD or COMT?

Over the 3-year period, COMT has performed better with a 12.01% return vs 9.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HARD or COMT?

COMT is cheaper with a 0.48% expense ratio, compared with 0.75% for HARD.

Which ETF pays a higher dividend yield, HARD or COMT?

COMT has the higher dividend yield at 6.25%, compared with 2.90% for HARD.

What is the main difference between HARD and COMT?

They also come from different issuers: Simplify and iShares. Their fees differ too: 0.75% for HARD and 0.48% for COMT.

Which has better risk-adjusted returns?

COMT currently has the higher Sharpe Ratio (1.20 vs 0.33), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.