HARD vs. GSG
Compare and contrast key facts about Simplify Commodities Strategy No K-1 ETF (HARD) and iShares S&P GSCI Commodity-Indexed Trust (GSG).
HARD and GSG 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. GSG is a passively managed fund by iShares that tracks the performance of the S&P GSCI Total Return Index. It was launched on Jul 21, 2006.
Performance
HARD vs. GSG - Performance Comparison
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HARD vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HARD Simplify Commodities Strategy No K-1 ETF | 20.41% | 12.19% | 20.48% | -5.04% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 39.85% | 5.93% | 8.52% | 1.16% |
Returns By Period
In the year-to-date period, HARD achieves a 20.41% return, which is significantly lower than GSG's 39.85% return.
HARD
- 1D
- -1.39%
- 1M
- 8.55%
- YTD
- 20.41%
- 6M
- 18.31%
- 1Y
- 17.15%
- 3Y*
- 15.77%
- 5Y*
- —
- 10Y*
- —
GSG
- 1D
- -1.01%
- 1M
- 24.23%
- YTD
- 39.85%
- 6M
- 40.40%
- 1Y
- 41.63%
- 3Y*
- 17.03%
- 5Y*
- 17.93%
- 10Y*
- 9.09%
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HARD vs. GSG - Expense Ratio Comparison
Both HARD and GSG have an expense ratio of 0.75%.
Return for Risk
HARD vs. GSG — Risk / Return Rank
HARD
GSG
HARD vs. GSG - 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 S&P GSCI Commodity-Indexed Trust (GSG). 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 | GSG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.72 | 1.98 | -1.26 |
Sortino ratioReturn per unit of downside risk | 1.04 | 2.66 | -1.62 |
Omega ratioGain probability vs. loss probability | 1.14 | 1.36 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | 1.34 | 3.70 | -2.35 |
Martin ratioReturn relative to average drawdown | 2.53 | 10.32 | -7.79 |
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 | GSG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | 1.98 | -1.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.82 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.42 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.90 | -0.09 | +0.99 |
Correlation
The correlation between HARD and GSG is 0.41, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
HARD vs. GSG - Dividend Comparison
HARD's dividend yield for the trailing twelve months is around 2.49%, while GSG has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HARD Simplify Commodities Strategy No K-1 ETF | 2.49% | 2.36% | 3.51% | 1.95% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
HARD vs. GSG - Drawdown Comparison
The maximum HARD drawdown since its inception was -13.51%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for HARD and GSG.
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Drawdown Indicators
| HARD | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.51% | -89.62% | +76.11% |
Max Drawdown (1Y)Largest decline over 1 year | -13.51% | -11.91% | -1.60% |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.12% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.64% | — |
Current DrawdownCurrent decline from peak | -1.39% | -57.78% | +56.39% |
Average DrawdownAverage peak-to-trough decline | -5.44% | -63.77% | +58.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.17% | 4.27% | +2.90% |
Volatility
HARD vs. GSG - Volatility Comparison
Simplify Commodities Strategy No K-1 ETF (HARD) and iShares S&P GSCI Commodity-Indexed Trust (GSG) have volatilities of 11.53% and 11.08%, 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.
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Volatility by Period
| HARD | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.53% | 11.08% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 17.94% | 16.24% | +1.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.78% | 21.16% | +2.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.48% | 21.97% | -4.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.48% | 21.78% | -4.30% |