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HARD

Simplify Commodities Strategy No K-1 ETF

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as of 11/19/2024

NAV

$ 25.10

NAV Change

+ $ 0.37 /1.50%

Price

$ 25.08

Price Change

+ $ 0.30 /1.21%
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.
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Documents

Fund Overview

As of 11/19/2024

Ticker Symbol
HARD
Gross Expense Ratio
0.75%
CUSIP
82889N566
Total Assets
$7,530,333.75
Shares Outstanding
300,001
Distribution Rate as of 09/30/2024 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.
4.77%
Distribution Frequency
Quarterly
30-Day SEC Yield (Subsidized) as of 10/31/2024 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 10/31/2024
2.68%
Options Available
No
Inception Date
03/27/2023
Premium/Discount (%) as of 11/19/2024
-0.08%
NAV Per Share as of 11/19/2024
$25.10
Market Price as of 11/19/2024
$25.08
30-Day Median Bid-Ask Spread
0.25%
Bid/Ask
$25.06/$25.15
Midpoint Price
$25.11
Volume
3,965
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 10/31/2024 09/30/2024

Monthly Quarterly
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV -0.86% 6.51% 4.80% 9.72% 7.06% 4.19%
Market Price -0.60% 6.96% 5.26% 10.02% 7.49% 4.47%
Annualized 1 Year 3 Year Since Inception
NAV 7.06% — 2.61%
Market Price 7.49% — 2.78%
Cumulative 1 Year Since Inception
NAV 2.54% 5.10%
Market Price 2.44% 5.10%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV 2.54% — — 3.35%
Market Price 2.44% — — 3.35%
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 2023 3rd Quarter of 2024
Days Traded at Premium
122
34
Days Traded at Discount
70
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 11/19/2024

Holdings - All ETFs
Ticker Name Quantity Weight
BOF5 COM SOYBEAN OIL FUTR Jan25 8 2.86%
BOH5 COM SOYBEAN OIL FUTR Mar25 7 2.52%
BOZ4 COM SOYBEAN OIL FUTR Dec24 1 0.36%
CCH5 COM COCOA FUTURE Mar25 12 13.65%
CCK5 COM COCOA FUTURE MAY25 5 5.39%
CLF5 COM WTI CRUDE FUTURE JAN25 -2 -1.84%
CTH5 COM COTTON NO.2 FUTR MAR25 13 5.98%
CTK5 COM COTTON NO.2 FUTR May25 3 1.40%
FCF5 COM CATTLE FEEDER FUT JAN25 18 30.12%
FCH5 COM CATTLE FEEDER FUT Mar25 9 15.02%
FCJ5 COM CATTLE FEEDER FUT Apr25 1 1.67%
GCG5 COM GOLD 100 OZ FUTR Feb25 2 7.05%
GCZ4 COM GOLD 100 OZ FUTR DEC24 -1 -3.49%
HGH5 COM COPPER FUTURE Mar25 -1 -1.39%
HOF5 COM NY HARB ULSD FUT JAN25 3 3.77%
HOG5 COM NY Harb ULSD Fut Feb25 1 1.26%
HOH5 COM NY Harb ULSD Fut Mar25 1 1.25%
KCH5 COM COFFEE 'C' FUTURE Mar25 9 12.61%
KCK5 COM COFFEE 'C' FUTURE MAY25 2 2.78%
KWH5 COM KC HRW WHEAT FUT Mar25 -1 -0.38%
KWK5 COM KC HRW WHEAT FUT May25 1 0.38%
LCG5 COM LIVE CATTLE FUTR FEB25 25 24.97%
LCJ5 COM LIVE CATTLE FUTR Apr25 18 18.11%
LCZ4 COM LIVE CATTLE FUTR Dec24 4 3.96%
LHG5 COM LEAN HOGS FUTURE Feb25 27 11.89%
LHJ5 COM LEAN HOGS FUTURE APR25 13 6.02%
LHZ4 COM LEAN HOGS FUTURE Dec24 4 1.69%
NGG25 COM NATURAL GAS FUTR Feb25 1 0.41%
NGH25 COM NATURAL GAS FUTR Mar25 2 0.75%
NGJ25 COM NATURAL GAS FUTR Apr25 6 2.23%
NGK25 COM NATURAL GAS FUTR May25 3 1.15%
NGM25 COM NATURAL GAS FUTR Jun25 2 0.81%
NGN25 COM NATURAL GAS FUTR Jul25 4 1.71%
NGQ25 COM NATURAL GAS FUTR Aug25 1 0.43%
PLF5 COM PLATINUM FUTURE Jan25 3 1.95%
RSF5 COM CANOLA FUTR (WCE) Jan25 7 0.84%
S F5 COM SOYBEAN FUTURE Jan25 2 1.33%
S H5 COM SOYBEAN FUTURE Mar25 -1 -0.67%
S K5 COM SOYBEAN FUTURE MAY25 -2 -1.36%
SBH5 COM SUGAR #11 (WORLD) MAR25 11 3.60%
SBK5 COM SUGAR #11 (WORLD) MAY25 6 1.83%
SBN5 COM SUGAR #11 (WORLD) JUL25 2 0.59%
SMF5 COM SOYBEAN MEAL FUTR Jan25 -8 -3.09%
SMH5 COM SOYBEAN MEAL FUTR Mar25 -10 -3.91%
W H5 COM WHEAT FUTURE(CBT) Mar25 -1 -0.38%
W K5 COM WHEAT FUTURE(CBT) May25 1 0.38%
- TREASURY BILL DN 12/24 600,000 7.95%
- WI TSY BILL DN 12/24 600,000 7.94%
- WI TSY BILL DN 1/25 3,950,000 52.11%
- WI TSY BILL DN 1/25 1,450,000 19.13%
- CANADIAN DOLLAR 49,744 0.47%
- Estimated Cash 546,721 7.26%

Holdings are subject to change without notice.

As of

Portfolio Risk Profile
Category Weight Est. Initial Margin Contrib to Vol
COCOA FUTURE 19.84% 181,760 23.58%
CATTLE FEEDER FUT 51.42% 140,647 14.32%
COFFEE 'C' FUTURE 15.86% 80,477 12.13%
LIVE CATTLE FUTR 47.65% 116,160 8.65%
LEAN HOGS FUTURE 18.48% 67,650 6.98%
NATURAL GAS FUTR 7.68% 75,350 6.39%
NY HARB ULSD FUT 7.42% 37,730 5.33%
SOYBEAN OIL FUTR 5.15% 25,740 4.27%
SUGAR #11 (WORLD) 7.42% 38,016 4.14%
GOLD 100 OZ FUTR 7.04% 25,300 2.88%
COTTON NO.2 FUTR 6.96% 27,580 2.50%
GASOLINE RBOB FUT 3.30% 16,390 2.43%
SOYBEAN MEAL FUTR -6.95% 38,500 1.68%
PLATINUM FUTURE 2.54% 12,320 1.46%
SOYBEAN FUTURE -0.69% 10,450 1.17%
COPPER FUTURE -1.38% 6,600 0.85%
CANOLA FUTR (WCE) 0.81% 3,583 0.52%
KC HRW WHEAT FUT 0.00% 3,850 0.37%
WHEAT FUTURE(CBT) 0.01% 3,520 0.36%
Total 192.57% 911,622 100.00%
Treasury Bill 86.36% 6,560,809 4.52%
Pure Cash 13.64% 1,036,156 0.00%
Total 100.00% 7,596,965 0.00%
Source: Bloomberg, Simplify

Recent Distributions

Ex-Dividend Date Record Date Payable Date Total Distribution
N/A
$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

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