View All ETFs

HARD

Simplify Commodities Strategy No K-1 ETF

Spotlight Banner
as of 09/27/2024

NAV

$ 25.55

NAV Change

+ $ 0.10 /0.39%

Price

$ 25.51

Price Change

+ $ 0.10 /0.39%
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 09/27/2024

Ticker Symbol
HARD
Gross Expense Ratio
0.75%
CUSIP
82889N566
Total Assets
$8,303,096.61
Shares Outstanding
325,001
Distribution Rate as of 06/30/2024 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.
2.48%
Distribution Frequency
Quarterly
30-Day SEC Yield (Subsidized) as of 08/31/2024 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 08/31/2024
3.05%
Options Available
No
Inception Date
03/27/2023
Premium/Discount (%) as of 09/27/2024
-0.15%
NAV Per Share as of 09/27/2024
$25.55
Market Price as of 09/27/2024
$25.51
30-Day Median Bid-Ask Spread
0.24%
Bid/Ask
$25.48/$25.56
Midpoint Price
$25.52
Volume
4,204
NAV Symbol
HARD.NV
IOPV Symbol
HARD.IV
Shares Out. Symbol
HARD.SO
Schedule K-1
No

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 Expenses1 0.00%
Total Annual Fund Operating Expenses 0.75%
1. Other Expenses are estimated for the Fund’s initial fiscal year.

Fund Performance

As of 07/31/2024 06/30/2024

Monthly Quarterly
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV -1.94% -1.60% 4.04% 3.02% -5.22% -2.17%
Market Price -1.91% -1.59% 3.89% 2.86% -5.46% -2.32%
Annualized 1 Year 3 Year Since Inception
NAV -5.22% — -1.62%
Market Price -5.46% — -1.74%
Cumulative 1 Year Since Inception
NAV 0.63% -0.23%
Market Price 0.44% -0.42%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV 0.63% — — -0.19%
Market Price 0.44% — — -0.34%
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 09/27/2024

Holdings - All ETFs
Ticker Name Quantity Weight
BOF5 COM SOYBEAN OIL FUTR Jan25 5 1.54%
BOH5 COM SOYBEAN OIL FUTR Mar25 3 0.93%
BOZ4 COM SOYBEAN OIL FUTR Dec24 27 8.27%
C K5 COM CORN FUTURE May25 -1 -0.27%
C Z4 COM CORN FUTURE DEC24 -3 -0.76%
CCH5 COM COCOA FUTURE Mar25 8 6.52%
CCK5 COM COCOA FUTURE MAY25 3 2.27%
CCZ4 COM COCOA FUTURE Dec24 8 7.98%
CLZ4 COM WTI CRUDE FUTURE DEC24 -2 -1.63%
CTH5 COM COTTON NO.2 FUTR MAR25 2 0.90%
CTZ4 COM COTTON NO.2 FUTR Dec24 10 4.38%
FCF5 COM CATTLE FEEDER FUT JAN25 4 5.77%
FCV4 COM CATTLE FEEDER FUT Oct24 1 1.49%
FCX4 COM CATTLE FEEDER FUT Nov24 10 14.80%
GCZ4 COM GOLD 100 OZ FUTR DEC24 6 19.29%
HGH5 COM COPPER FUTURE Mar25 2 2.79%
HGZ4 COM COPPER FUTURE DEC24 11 15.24%
HOF5 COM NY HARB ULSD FUT JAN25 -1 -1.10%
HOZ4 COM NY HARB ULSD FUT DEC24 -1 -1.09%
KCH5 COM COFFEE 'C' FUTURE Mar25 4 4.82%
KCZ4 COM COFFEE 'C' FUTURE Dec24 5 6.08%
KWH5 COM KC HRW WHEAT FUT Mar25 5 1.78%
KWK5 COM KC HRW WHEAT FUT May25 1 0.36%
KWZ4 COM KC HRW WHEAT FUT Dec24 14 4.86%
LCG5 COM LIVE CATTLE FUTR FEB25 13 11.63%
LCZ4 COM LIVE CATTLE FUTR Dec24 20 17.78%
NGF25 COM NATURAL GAS FUTR Jan25 2 0.86%
NGH25 COM NATURAL GAS FUTR Mar25 4 1.52%
NGJ25 COM NATURAL GAS FUTR Apr25 8 2.91%
NGK25 COM NATURAL GAS FUTR May25 3 1.10%
NGX24 COM NATURAL GAS FUTR Nov24 13 4.55%
NGZ24 COM NATURAL GAS FUTR Dec24 5 1.99%
PLF5 COM PLATINUM FUTURE Jan25 21 12.93%
RSF5 COM CANOLA FUTR (WCE) Jan25 -6 -0.66%
RSH5 COM CANOLA FUTR (WCE) Mar25 -6 -0.67%
RSX4 COM CANOLA FUTR (WCE) NOV24 -1 -0.11%
S F5 COM SOYBEAN FUTURE Jan25 4 2.61%
S H5 COM SOYBEAN FUTURE Mar25 3 1.98%
S X4 COM SOYBEAN FUTURE NOV24 6 3.85%
SBH5 COM SUGAR #11 (WORLD) MAR25 24 7.33%
SBK5 COM SUGAR #11 (WORLD) MAY25 10 2.86%
SBN5 COM SUGAR #11 (WORLD) JUL25 3 0.82%
SIZ4 COM SILVER FUTURE DEC24 4 7.67%
SMF5 COM SOYBEAN MEAL FUTR Jan25 8 3.32%
SMZ4 COM SOYBEAN MEAL FUTR Dec24 27 11.19%
W H5 COM WHEAT FUTURE(CBT) Mar25 9 3.25%
W K5 COM WHEAT FUTURE(CBT) May25 3 1.10%
W Z4 COM WHEAT FUTURE(CBT) Dec24 22 7.69%
- TREASURY BILL DN 10/24 400,000 4.81%
- TREASURY BILL DN 1/25 5,400,000 64.21%
- TREASURY BILL DN 1/25 1,300,000 15.46%
- CANADIAN DOLLAR 57,428 0.51%
- Estimated Cash 814,831 9.78%

Holdings are subject to change without notice.

As of

Portfolio Risk Profile
Category Weight Est. Initial Margin Contrib to Vol
COCOA FUTURE 15.44% 240,843 16.81%
COFFEE 'C' FUTURE 15.24% 77,749 9.84%
SUGAR #11 (WORLD) 18.70% 63,928 9.52%
LEAN HOGS FUTURE 18.14% 66,000 8.54%
PLATINUM FUTURE 14.88% 64,680 7.71%
CANOLA FUTR (WCE) -12.79% 48,773 7.60%
PALLADIUM FUTURE 7.31% 55,000 5.33%
NY HARB ULSD FUT -10.24% 43,670 5.16%
GOLD 100 OZ FUTR 19.07% 57,750 4.97%
SOYBEAN OIL FUTR 8.73% 38,280 4.64%
SOYBEAN FUTURE 11.20% 34,210 4.45%
CORN FUTURE -11.21% 44,215 3.80%
GASOLINE RBOB FUT -6.55% 38,500 3.32%
NATURAL GAS FUTR 5.30% 57,090 3.14%
COPPER FUTURE 4.74% 18,150 1.66%
LIVE CATTLE FUTR -2.12% 10,780 1.10%
WHEAT FUTURE(CBT) 3.32% 15,620 1.09%
WTI CRUDE FUTURE -2.24% 14,080 0.94%
COTTON NO.2 FUTR 1.05% 4,120 0.38%
Total 97.96% 993,439 100.00%
Treasury Bill 93.31% 6,230,330 5.31%
Pure Cash 6.01% 401,177 0.00%
Total 99.32% 6,631,506 0.00%
Source: Bloomberg, Simplify

Recent Distributions

Ex-Dividend Date Record Date Payable Date Total Distribution
N/A
$0.15000
$0.15000
$0.25516
$0.10000
View Distribution History

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