SDCI vs. HARD
SDCI (USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund) and HARD (Simplify Commodities Strategy No K-1 ETF) are both Commodities funds. SDCI is passively managed, while HARD is actively managed. Over the past 3 years, SDCI returned 20.52%/yr vs 10.74%/yr for HARD. Their 0.54 correlation means they have sometimes moved together and sometimes differently. SDCI charges 0.60%/yr vs 0.75%/yr for HARD.
Performance
SDCI vs. HARD - Performance Comparison
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Returns By Period
In the year-to-date period, SDCI achieves a 31.41% return, which is significantly higher than HARD's 8.92% return.
SDCI
- 1D
- 0.63%
- 1M
- 10.03%
- 6M
- 20.73%
- YTD
- 31.41%
- 1Y
- 39.13%
- 3Y*
- 20.52%
- 5Y*
- 20.86%
- 10Y*
- —
- ALL TIME*
- 11.58%
HARD
- 1D
- 0.65%
- 1M
- 7.37%
- 6M
- 3.84%
- YTD
- 8.92%
- 1Y
- 16.64%
- 3Y*
- 10.74%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.55%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $916.88K | $1.12M | $1.59M | |
| $5.69M | $7.12M | $7.50M |
SDCI vs. HARD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SDCI USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | 31.41% | 17.60% | 17.91% | 5.56% |
HARD Simplify Commodities Strategy No K-1 ETF | 8.92% | 12.19% | 20.48% | -5.04% |
Correlation
The correlation between SDCI and HARD is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.57 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2023 | 0.54 |
Over the past year, SDCI and HARD have become more correlated (0.77) than their long-term average of 0.54, meaning their price movements have been converging.
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Return for Risk
SDCI vs. HARD — Risk / Return Rank
SDCI
HARD
SDCI vs. HARD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI) and Simplify Commodities Strategy No K-1 ETF (HARD). 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.
| SDCI | HARD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.54 | ||
| Sortino ratioReturn per unit of downside risk | +1.90 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.12 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 3.33 | 0.75 | +2.58 |
| Martin ratioReturn relative to average drawdown | 10.55 | 1.84 | +8.71 |
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Drawdowns
SDCI vs. HARD - Drawdown Comparison
The maximum SDCI drawdown since its inception was -45.79%, which is greater than HARD's maximum drawdown of -20.81%. Use the drawdown chart below to compare losses from any high point for SDCI and HARD.
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Drawdown Indicators
| SDCI | HARD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.79% | -20.81% | -24.98% |
Max Drawdown (1Y)Largest decline over 1 year | -11.03% | -20.81% | +9.78% |
Max Drawdown (3Y)Largest decline over 3 years | -11.96% | -20.81% | +8.85% |
Max Drawdown (5Y)Largest decline over 5 years | -18.55% | — | — |
Current DrawdownCurrent decline from peak | -1.53% | -14.97% | +13.44% |
Average DrawdownAverage peak-to-trough decline | -11.47% | -6.00% | -5.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 8.43% | -4.95% |
Volatility
SDCI vs. HARD - Volatility Comparison
The current volatility for USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI) is 5.28%, while Simplify Commodities Strategy No K-1 ETF (HARD) has a volatility of 8.43%. This indicates that SDCI experiences smaller price fluctuations and is considered to be less risky than HARD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDCI | HARD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.28% | 8.43% | -3.15% |
Volatility (6M)Calculated over the trailing 6-month period | 14.48% | 22.57% | -8.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.36% | 26.89% | -9.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.44% | 19.32% | -0.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.07% | 19.32% | -2.25% |
SDCI vs. HARD - Expense Ratio Comparison
SDCI has a 0.60% expense ratio, which is lower than HARD's 0.75% expense ratio.
Dividends
SDCI vs. HARD - Dividend Comparison
SDCI's dividend yield for the trailing twelve months is around 2.80%, less than HARD's 2.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HARD Simplify Commodities Strategy No K-1 ETF | 2.94% | 2.36% | 3.51% | 1.95% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SDCI USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | 2.80% | 3.68% | 5.92% | 3.46% | 33.49% | 19.26% | 0.20% | 0.93% | 0.68% |
Frequently Asked Questions
SDCI and HARD have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HARD has higher volatility (8.43%) compared to SDCI (5.28%). In terms of maximum drawdown, SDCI dropped -45.79% vs HARD's -20.81%.
On 3-year performance, SDCI leads with 20.52% vs 10.74% for HARD. On fees, SDCI is cheaper at 0.60% per year. On volatility, SDCI has been the lower-risk option at 5.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SDCI has performed better with a 20.52% return vs 10.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SDCI is cheaper with a 0.60% expense ratio, compared with 0.75% for HARD.
HARD has the higher dividend yield at 2.94%, compared with 2.80% for SDCI.
They also come from different issuers: USCF and Simplify. Their fees differ too: 0.60% for SDCI and 0.75% for HARD.
SDCI currently has the higher Sharpe Ratio (2.12 vs 0.58), 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.
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