WEAT vs. HARD
WEAT (Teucrium Wheat Fund) and HARD (Simplify Commodities Strategy No K-1 ETF) are both exchange-traded funds - WEAT is a Agricultural Commodities fund tracking the Teucrium Wheat Fund Benchmark, while HARD is a Commodities fund actively managed by Simplify. WEAT is passively managed, while HARD is actively managed. Over the past 3 years, WEAT returned -10.48%/yr vs 13.00%/yr for HARD. At a 0.14 correlation, their price movements are largely independent. WEAT charges 1.91%/yr vs 0.75%/yr for HARD.
Performance
WEAT vs. HARD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, WEAT achieves a 13.52% return, which is significantly lower than HARD's 14.81% return.
WEAT
- 1D
- -2.07%
- 1M
- -6.32%
- YTD
- 13.52%
- 6M
- 8.73%
- 1Y
- -0.35%
- 3Y*
- -10.48%
- 5Y*
- -7.95%
- 10Y*
- -6.84%
HARD
- 1D
- -0.24%
- 1M
- -9.01%
- YTD
- 14.81%
- 6M
- 14.73%
- 1Y
- 24.26%
- 3Y*
- 13.00%
- 5Y*
- —
- 10Y*
- —
WEAT vs. HARD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
WEAT Teucrium Wheat Fund | 13.52% | -17.14% | -19.26% | -16.15% |
HARD Simplify Commodities Strategy No K-1 ETF | 14.81% | 12.19% | 20.48% | -5.04% |
Correlation
The correlation between WEAT and HARD is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2023 | 0.14 |
The correlation between WEAT and HARD shifts across timeframes, from 0.14 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
WEAT vs. HARD — Risk / Return Rank
WEAT
HARD
WEAT vs. HARD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Teucrium Wheat Fund (WEAT) 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.
| WEAT | HARD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.17 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 1.97 | -1.99 |
| Martin ratioReturn relative to average drawdown | -0.03 | 4.51 | -4.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| WEAT | HARD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.02 | 0.92 | -0.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.26 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.26 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.41 | 0.68 | -1.09 |
Drawdowns
WEAT vs. HARD - Drawdown Comparison
The maximum WEAT drawdown since its inception was -84.32%, which is greater than HARD's maximum drawdown of -13.51%. Use the drawdown chart below to compare losses from any high point for WEAT and HARD.
Loading charts...
Drawdown Indicators
| WEAT | HARD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.32% | -13.51% | -70.81% |
Max Drawdown (1Y)Largest decline over 1 year | -17.85% | -12.38% | -5.47% |
Max Drawdown (3Y)Largest decline over 3 years | -46.27% | -13.51% | -32.76% |
Max Drawdown (5Y)Largest decline over 5 years | -67.83% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -67.83% | — | — |
Current DrawdownCurrent decline from peak | -82.12% | -10.38% | -71.74% |
Average DrawdownAverage peak-to-trough decline | -63.12% | -5.47% | -57.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.29% | 5.39% | +5.90% |
Volatility
WEAT vs. HARD - Volatility Comparison
Teucrium Wheat Fund (WEAT) has a higher volatility of 10.00% compared to Simplify Commodities Strategy No K-1 ETF (HARD) at 8.11%. This indicates that WEAT's price experiences larger fluctuations and is considered to be riskier than HARD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| WEAT | HARD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.00% | 8.11% | +1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 18.05% | 21.64% | -3.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.62% | 26.47% | -3.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.51% | 19.09% | +11.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.80% | 19.09% | +7.71% |
WEAT vs. HARD - Expense Ratio Comparison
WEAT has a 1.91% expense ratio, which is higher than HARD's 0.75% expense ratio.
Dividends
WEAT vs. HARD - Dividend Comparison
WEAT has not paid dividends to shareholders, while HARD's dividend yield for the trailing twelve months is around 2.61%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
HARD Simplify Commodities Strategy No K-1 ETF | 2.61% | 2.36% | 3.51% | 1.95% |
WEAT Teucrium Wheat Fund | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
WEAT and HARD have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WEAT has higher volatility (10.00%) compared to HARD (8.11%). In terms of maximum drawdown, WEAT dropped -84.32% vs HARD's -13.51%.
On 3-year performance, HARD leads with 13.00% vs -10.48% for WEAT. On fees, HARD is cheaper at 0.75% per year. On volatility, HARD has been the lower-risk option at 8.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HARD has performed better with a 13.00% return vs -10.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HARD is cheaper with a 0.75% expense ratio, compared with 1.91% for WEAT.
HARD has the higher dividend yield at 2.61%, compared with 0.00% for WEAT.
WEAT is categorized as Agricultural Commodities, while HARD is Commodities. They also come from different issuers: Teucrium and Simplify. Their fees differ too: 1.91% for WEAT and 0.75% for HARD.
HARD currently has the higher Sharpe Ratio (0.92 vs -0.02), 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.
Find the right allocation for WEAT and HARD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer