View All ETFs

HARD

Simplify Commodities Strategy No K-1 ETF

Spotlight Banner
as of 01/17/2025

NAV

$ 28.51

NAV Change

- $ 0.25 /0.87%

Price

$ 28.51

Price Change

- $ 0.29 /1.01%
Commodities are a terrific way to hedge portfolios against strong inflation, but long-only commodity investments are challenging to hold over strategic horizons given their prevalence for extended periods of underperformance.

The Simplify Commodities Strategy No K-1 ETF (HARD) seeks long term capital appreciation by systematically investing in commodity futures in an attempt to create commodity exposure that performs strongly during inflationary periods while still performing well in more typical market environments.

To this end, HARD deploys a suite of systematic long/short (l/s) models that have been designed by Altis Partners, a commodity trading advisor with over 20 years of experience.
Spotlight Banner

Documents

Fund Overview

As of 01/17/2025

Ticker Symbol
HARD
Gross Expense Ratio
0.75%
CUSIP
82889N566
Total Assets
$10,690,969.76
Shares Outstanding
375,001
Distribution Rate as of 12/31/2024 Distribution rate calculation employs the most recent distribution, and multiplies the payment by 12 (monthly) or 4 (quarterly) to get an annualized total. The annualized total is then divided by the most recent net asset value (NAV) to determine the distribution rate.
Distribution Rate Close
Distribution rate calculation employs the most recent distribution, and multiplies the payment by 12 (monthly) or 4 (quarterly) to get an annualized total. The annualized total is then divided by the most recent net asset value (NAV) to determine the distribution rate.
5.22%
Distribution Frequency
Quarterly
30-Day SEC Yield (Subsidized) as of 12/31/2024 SEC 30-day Yield is available once fund has a full quarter of performance.
SEC 30-Day Yield Close
SEC 30-day Yield is available once fund has a full quarter of performance.
-
30-Day SEC Yield (Unsubsidized) as of 12/31/2024
2.24%
Options Available
No
Inception Date
03/27/2023
Premium/Discount (%) as of 01/17/2025
0.00%
NAV Per Share as of 01/17/2025
$28.51
Market Price as of 01/17/2025
$28.51
30-Day Median Bid-Ask Spread
0.27%
Bid/Ask
$28.47/$28.55
Midpoint Price
$28.51
Volume
105,671
NAV Symbol
HARD.NV
IOPV Symbol
HARD.IV
Shares Out. Symbol
HARD.SO
Schedule K-1
No
 
The Distribution Rate is the annual rate an investor would receive if the most recently declared distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by multiplying an ETF’s Distribution per Share by twelve (12), and dividing the resulting amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. The distribution rate may contain return of capital but an estimate cannot be provided at this time. Please refer to the 19a-1 notices for additional details regarding the distributions’ composition once they become available.

Management Fees

This table describes the fees and expenses that you may pay if you buy, sell, and hold shares of the Fund. Investors purchasing or selling shares of the Fund in the secondary market may be subject to costs (including customary brokerage commissions) charged by their broker. The fee table located in the prospectus and updates in prospectus supplements prevail.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees 0.75%
Distribution and Service (12b-1) Fees 0.00%
Other Expenses 0.00%
Total Annual Fund Operating Expenses 0.75%

Fund Performance

As of 12/31/2024 12/31/2024

Monthly Quarterly
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV 1.97% 7.49% 13.24% 18.97% 18.97% 12.98%
Market Price 3.28% 8.86% 14.89% 20.48% 20.48% 14.41%
Annualized 1 Year 3 Year Since Inception
NAV 18.97% — 7.16%
Market Price 20.48% — 7.94%
Cumulative 1 Year Since Inception
NAV 18.97% 12.98%
Market Price 20.48% 14.41%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV 18.97% — — 7.16%
Market Price 20.48% — — 7.94%
The performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment returns and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Performance data for the most recent month-end is available above.

NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day.

Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.

Short term performance, in particular, is not a good indication of the fund's future performance, and an investment should not be made based solely on returns.

Historical Premium/Discount

Calendar Year 2024 4th Quarter of 2024
Days Traded at Premium
125
34
Days Traded at Discount
127
30
The above frequency distribution chart presents information about the difference between the daily market price for shares of the Fund and the Fund's reported Net Asset Value. The amount that the Fund's market price is above the reported NAV is called the premium. The amount that the Fund's market price is below the reported NAV is called the discount. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 p.m. EST). The horizontal axis of the chart shows the premium or discount expressed in basis points. The vertical axis indicates the number of trading days in the period covered by the chart. Each bar in the chart shows the number of trading days in which the Fund traded within the premium/discount range indicated.

Portfolio Holdings

Holdings Summary Risk Profile

As of 01/17/2025

Holdings - All ETFs
Ticker Name Quantity Weight
BOH5 COM SOYBEAN OIL FUTR Mar25 12 3.08%
BOK5 COM SOYBEAN OIL FUTR MAY25 8 2.07%
BON5 COM SOYBEAN OIL FUTR JUL25 8 2.08%
C H5 COM CORN FUTURE Mar25 49 11.10%
C K5 COM CORN FUTURE May25 24 5.53%
C N5 COM CORN FUTURE Jul25 19 4.39%
C U5 COM CORN FUTURE Sep25 9 1.93%
CCK5 COM COCOA FUTURE MAY25 2 2.03%
CCN5 COM COCOA FUTURE Jul25 1 0.97%
CLJ5 COM WTI CRUDE FUTURE APR25 1 0.71%
CLK5 COM WTI CRUDE FUTURE MAY25 2 1.40%
CLM5 COM WTI CRUDE FUTURE JUN25 5 3.46%
CLN5 COM WTI CRUDE FUTURE Jul25 2 1.37%
CLU5 COM WTI CRUDE FUTURE Sep25 1 0.67%
CTH5 COM COTTON NO.2 FUTR MAR25 -8 -2.53%
CTK5 COM COTTON NO.2 FUTR May25 -3 -0.96%
CTN5 COM COTTON NO.2 FUTR Jul25 -1 -0.33%
FCH5 COM CATTLE FEEDER FUT Mar25 11 13.79%
FCJ5 COM CATTLE FEEDER FUT Apr25 3 3.76%
GCJ5 COM GOLD 100 OZ FUTR Apr25 7 18.17%
HGH5 COM COPPER FUTURE Mar25 13 13.28%
HGK5 COM COPPER FUTURE MAY25 3 3.09%
HOH5 COM NY Harb ULSD Fut Mar25 10 10.06%
HOJ5 COM NY Harb ULSD Fut Apr25 5 4.90%
HOK5 COM NY Harb ULSD Fut May25 2 1.92%
KCH5 COM COFFEE 'C' FUTURE Mar25 1 1.15%
KCK5 COM COFFEE 'C' FUTURE MAY25 3 3.42%
KWH5 COM KC HRW WHEAT FUT Mar25 6 1.54%
KWK5 COM KC HRW WHEAT FUT May25 2 0.52%
KWN5 COM KC HRW WHEAT FUT JUL25 1 0.27%
LCG5 COM LIVE CATTLE FUTR FEB25 16 11.78%
LCJ5 COM LIVE CATTLE FUTR Apr25 38 28.08%
LCM5 COM LIVE CATTLE FUTR JUN25 20 14.38%
LHJ5 COM LEAN HOGS FUTURE APR25 20 6.61%
LHM5 COM LEAN HOGS FUTURE Jun25 11 4.19%
NGH25 COM NATURAL GAS FUTR Mar25 26 8.46%
NGJ25 COM NATURAL GAS FUTR Apr25 13 4.21%
NGK25 COM NATURAL GAS FUTR May25 6 1.99%
NGM25 COM NATURAL GAS FUTR Jun25 4 1.40%
NGN25 COM NATURAL GAS FUTR Jul25 6 2.18%
NGQ25 COM NATURAL GAS FUTR Aug25 4 1.47%
NGU25 COM NATURAL GAS FUTR Sep25 6 2.18%
NGV25 COM NATURAL GAS FUTR Oct25 11 4.06%
PAH5 COM PALLADIUM FUTURE Mar25 1 0.90%
PLJ5 COM PLATINUM FUTURE Apr25 11 4.97%
RSH5 COM CANOLA FUTR (WCE) Mar25 27 2.15%
RSK5 COM CANOLA FUTR (WCE) May25 11 0.89%
RSN5 COM CANOLA FUTR (WCE) JUL25 5 0.41%
S H5 COM SOYBEAN FUTURE Mar25 27 13.06%
S K5 COM SOYBEAN FUTURE MAY25 7 3.42%
S N5 COM SOYBEAN FUTURE Jul25 6 2.96%
SBH5 COM SUGAR #11 (WORLD) MAR25 -6 -1.15%
SBK5 COM SUGAR #11 (WORLD) MAY25 -3 -0.54%
SBN5 COM SUGAR #11 (WORLD) JUL25 -2 -0.35%
SIH5 COM SILVER FUTURE Mar25 2 2.91%
SMH5 COM SOYBEAN MEAL FUTR Mar25 11 3.06%
SMK5 COM SOYBEAN MEAL FUTR May25 10 2.85%
SMN5 COM SOYBEAN MEAL FUTR Jul25 6 1.75%
W H5 COM WHEAT FUTURE(CBT) Mar25 3 0.76%
W K5 COM WHEAT FUTURE(CBT) May25 2 0.52%
W N5 COM WHEAT FUTURE(CBT) Jul25 1 0.26%
XBH5 COM GASOLINE RBOB FUT Mar25 3 2.53%
XBJ5 COM GASOLINE RBOB FUT APR25 1 0.93%
- TREASURY BILL DN 2/25 1,900,000 17.71%
- TREASURY BILL DN 2/25 800,000 7.45%
- TREASURY BILL DN 3/25 1,200,000 11.16%
- TREASURY BILL DN 3/25 500,000 4.65%
- TREASURY BILL DN 4/25 800,000 7.42%
- TREASURY BILL DN 4/25 700,000 6.49%
- TREASURY BILL DN 4/25 3,200,000 29.66%
- TREASURY BILL DN 4/25 1,000,000 9.27%
- CANADIAN DOLLAR -7,397 -0.05%
- Estimated Cash -183,411 -1.79%

Holdings are subject to change without notice.

As of

Portfolio Risk Profile
Category Weight Est. Initial Margin Contrib to Vol
NATURAL GAS FUTR 25.96% 350,350 23.09%
LIVE CATTLE FUTR 54.24% 179,080 11.54%
SOYBEAN FUTURE 19.44% 85,910 7.52%
CORN FUTURE 22.95% 112,768 7.30%
NY HARB ULSD FUT 16.88% 107,580 6.57%
GOLD 100 OZ FUTR 18.17% 88,550 5.05%
COPPER FUTURE 16.37% 105,600 5.01%
SOYBEAN MEAL FUTR 7.66% 59,950 3.95%
SOYBEAN OIL FUTR 7.23% 49,720 3.91%
LEAN HOGS FUTURE 10.80% 51,150 3.89%
COCOA FUTURE 2.99% 44,669 3.84%
CATTLE FEEDER FUT 17.55% 63,518 3.74%
COFFEE 'C' FUTURE 4.57% 41,033 2.48%
PLATINUM FUTURE 4.97% 33,880 2.40%
SILVER FUTURE 2.91% 25,300 1.66%
WTI CRUDE FUTURE 7.62% 54,780 1.60%
CANOLA FUTR (WCE) 3.45% 21,237 1.53%
GASOLINE RBOB FUT 3.45% 21,890 1.13%
COTTON NO.2 FUTR -3.82% 23,821 1.06%
SUGAR #11 (WORLD) -2.03% 15,452 0.88%
KC HRW WHEAT FUT 2.33% 18,370 0.77%
PALLADIUM FUTURE 0.90% 13,200 0.53%
WHEAT FUTURE(CBT) 1.53% 11,110 0.53%
Total 246.13% 1,578,918 100.00%
Treasury Bill 93.81% 10,028,872 4.30%
Pure Cash 6.19% 662,098 0.00%
Total 100.00% 10,690,970 0.00%
Source: Bloomberg, Simplify

Recent Distributions

Ex-Dividend Date Record Date Payable Date Total Distribution
$0.34840
$0.30000
$0.15000
$0.15000
$0.25516
This Fund is required to meet the reporting requirement of Section 19(a) of the Investment Company Act of 1940 where the payment of any distribution is to be accompanied by a written notice that discloses the sources of a payment if it is made from any source other than the Fund's net income. The distribution may contain return of capital but an estimate cannot be provided at this time. Please refer to the 19a-1 notice for additional details regarding the distribution composition, once it is available.
View Distribution History
Supplemental Tax Information: S19(a) Notices

Register for Simplify's Investor Hub

  • In-depth case studies provide valuable insights into practical portfolio problems and their solutions
  • Simplify curated model portfolios that show investors how to incorporate alternatives into their portfolio
  • Stay up-to-date with our latest thoughts on markets via our weekly market commentaries
Create Your Account
Register Info
Contact Us