SDMF vs. HARD

Last updated Jun 3, 2026

SDMF (Simplify DBi CTA Managed Futures Index ETF) and HARD (Simplify Commodities Strategy No K-1 ETF) are both exchange-traded funds - SDMF is a Systematic Trend fund tracking the DBi CTA Managed Futures Index, while HARD is a Commodities fund actively managed by Simplify. SDMF is passively managed, while HARD is actively managed. At a 0.47 correlation, their price movements are largely independent. SDMF charges 0.35%/yr vs 0.75%/yr for HARD.

Performance

SDMF vs. HARD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify DBi CTA Managed Futures Index ETF (SDMF) and Simplify Commodities Strategy No K-1 ETF (HARD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SDMF

• 1D: 0.00%
• 1M: 2.56%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HARD

• 1D: -0.16%
• 1M: -7.05%
• YTD: 15.08%
• 6M: 14.23%
• 1Y: 25.05%
• 3Y*: 13.09%
• 5Y*: —
• 10Y*: —

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

SDMF vs. HARD - Yearly Performance Comparison

	2026 (YTD)
SDMF Simplify DBi CTA Managed Futures Index ETF	3.28%
HARD Simplify Commodities Strategy No K-1 ETF	4.95%

Correlation

The correlation between SDMF and HARD is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 20, 2026	0.47

Return for Risk

SDMF vs. HARD — Risk / Return Rank

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

HARD

HARD Risk / Return Rank: 30
HARD Sharpe Ratio Rank: 26
HARD Sortino Ratio Rank: 24
HARD Omega Ratio Rank: 26
HARD Calmar Ratio Rank: 42
HARD Martin Ratio Rank: 32

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.

SDMF vs. HARD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify DBi CTA Managed Futures Index ETF (SDMF) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SDMF	HARD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.95	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	0.69	+0.23

Drawdowns

SDMF vs. HARD - Drawdown Comparison

The maximum SDMF drawdown since its inception was -6.23%, smaller than the maximum HARD drawdown of -13.51%. Use the drawdown chart below to compare losses from any high point for SDMF and HARD.

Drawdown Indicators

	SDMF	HARD	Difference
Max Drawdown Largest peak-to-trough decline	-6.23%	-13.51%	+7.28%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.38%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.51%	—
Current Drawdown Current decline from peak	0.00%	-10.16%	+10.16%
Average Drawdown Average peak-to-trough decline	-2.29%	-5.46%	+3.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.35%	—

Volatility

Volatility by Period

	SDMF	HARD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.44%	—
Volatility (6M) Calculated over the trailing 6-month period	—	21.64%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.36%	26.47%	-13.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.36%	19.10%	-5.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.36%	19.10%	-5.74%

SDMF vs. HARD - Expense Ratio Comparison

SDMF has a 0.35% expense ratio, which is lower than HARD's 0.75% expense ratio.

Dividends

SDMF vs. HARD - Dividend Comparison

SDMF has not paid dividends to shareholders, while HARD's dividend yield for the trailing twelve months is around 2.60%.

Position	TTM	2025	2024	2023
HARD Simplify Commodities Strategy No K-1 ETF	2.60%	2.36%	3.51%	1.95%
SDMF Simplify DBi CTA Managed Futures Index ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SDMF and HARD in my portfolio?

SDMF and HARD have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SDMF or HARD?

On fees, SDMF is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SDMF or HARD?

SDMF is cheaper with a 0.35% expense ratio, compared with 0.75% for HARD.

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

HARD has the higher dividend yield at 2.60%, compared with 0.00% for SDMF.

What is the main difference between SDMF and HARD?

SDMF is categorized as Systematic Trend, while HARD is Commodities. Their fees differ too: 0.35% for SDMF and 0.75% for HARD.