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HARD

Simplify Commodities Strategy No K-1 ETF

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as of 04/22/2024

NAV

$ 24.38

NAV Change

+ $ 0.05 /0.21%

Price

$ 24.39

Price Change

+ $ 0.06 /0.25%
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 04/22/2024

Ticker Symbol
HARD
Gross Expense Ratio
0.75%
CUSIP
82889N566
Total Assets
$8,534,249.49
Shares Outstanding
350,001
Distribution Yield as of 03/31/2024 Distribution yield 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 yield.
Distribution Yield Close
Distribution yield 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 yield.
2.56%
Distribution Frequency
Quarterly
SEC 30-Day Yield as of 03/31/2024 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.
3.24%
Unsubsidized 30-Day SEC Yield as of 03/31/2024
3.24%
Options Available
No
Inception Date
03/27/2023
Premium/Discount (%) as of 04/22/2024
0.03%
NAV Per Share as of 04/22/2024
$24.38
Market Price as of 04/22/2024
$24.39
30-Day Median Bid-Ask Spread
0.25%
Bid/Ask
$24.37/$24.42
Midpoint Price
$24.40
Volume
380
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 03/31/2024 12/31/2023

Monthly Quarterly
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV 1.66% 1.21% -6.23% 1.21% -3.46% -3.89%
Market Price 1.68% 1.24% -6.29% 1.24% -3.46% -3.86%
Annualized 1 Year 3 Year Since Inception
NAV -3.46% — -3.85%
Market Price -3.46% — -3.83%
Cumulative 1 Year Since Inception
NAV -3.46% -3.89%
Market Price -3.46% -3.86%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV -3.46% — — -3.85%
Market Price -3.46% — — -3.83%
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 1st Quarter of 2024
Days Traded at Premium
122
25
Days Traded at Discount
70
36
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 04/22/2024

Holdings - All ETFs
Ticker Name Quantity Weight
BOK4 COM SOYBEAN OIL FUTR May24 -1 -0.32%
BON4 COM SOYBEAN OIL FUTR Jul24 9 2.89%
BOQ4 COM SOYBEAN OIL FUTR Aug24 3 0.97%
C N4 COM CORN FUTURE Jul24 31 8.17%
C U4 COM CORN FUTURE Sep24 12 3.22%
C Z4 COM CORN FUTURE Dec24 24 6.64%
CLZ4 COM WTI CRUDE FUTURE Dec24 2 1.82%
GCM4 COM GOLD 100 OZ FUTR Jun24 7 19.25%
HGN4 COM COPPER FUTURE Jul24 9 11.88%
HGU4 COM COPPER FUTURE Sep24 2 2.65%
HOM4 COM NY Harb ULSD Fut Jun24 -9 -11.37%
NGF25 COM NATURAL GAS FUTR Jan25 7 3.11%
NGG25 COM NATURAL GAS FUTR Feb25 2 0.85%
NGM24 COM NATURAL GAS FUTR Jun24 6 1.45%
NGN24 COM NATURAL GAS FUTR Jul24 6 1.67%
NGQ24 COM NATURAL GAS FUTR Aug24 5 1.45%
NGU24 COM NATURAL GAS FUTR Sep24 9 2.62%
NGV24 COM NATURAL GAS FUTR Oct24 11 3.33%
NGX24 COM NATURAL GAS FUTR Nov24 6 2.10%
NGZ24 COM NATURAL GAS FUTR Dec24 7 2.89%
S Q4 COM SOYBEAN FUTURE Aug24 1 0.69%
S U4 COM SOYBEAN FUTURE Sep24 4 2.74%
SIK4 COM SILVER FUTURE May24 1 1.60%
W N4 COM WHEAT FUTURE(CBT) Jul24 36 12.39%
W U4 COM WHEAT FUTURE(CBT) Sep24 8 2.84%
XBQ4 COM GASOLINE RBOB FUT Aug24 -2 -2.53%
- TREASURY BILL DN 5/24 500000 5.83%
- TREASURY BILL DN 6/24 3000000 34.85%
- TREASURY BILL DN 6/24 1300000 15.10%
- TREASURY BILL DN 7/24 500000 5.80%
- TREASURY BILL DN 8/24 2200000 25.36%
- Estimated Cash 483761 5.67%

Holdings are subject to change without notice.

As of

Portfolio Risk Profile
Category Weight Est. Initial Margin Contrib to Vol
NATURAL GAS FUTR 19.47% 231,770 20.80%
WHEAT FUTURE(CBT) 15.23% 108,020 16.41%
CORN FUTURE 18.03% 85,140 14.04%
GOLD 100 OZ FUTR 19.25% 77,000 12.80%
COPPER FUTURE 14.53% 48,400 12.64%
NY HARB ULSD FUT -11.37% 82,170 11.71%
SOYBEAN OIL FUTR 3.54% 24,090 4.57%
GASOLINE RBOB FUT -2.53% 14,740 2.07%
SOYBEAN FUTURE 3.43% 11,768 2.01%
SILVER FUTURE 1.60% 11,550 1.98%
WTI CRUDE FUTURE 1.82% 11,990 0.97%
Total 82.97% 706,638 100.00%
Category Weight Market Value/Exposure Est. Yield
Treasury Bill 92.74% 7,914,585 5.39%
Pure Cash 7.26% 619,665 0.00%
Total 100.00% 8,534,249 0.00%
Source: Bloomberg, Simplify

Recent Distributions

Ex-Dividend Date Record Date Payable Date Ordinary Income Short Term Capital Gains Long Term Capital Gains Return of Capital Total Distribution
$0.15000 $0.00000 $0.00000 $0.00000 $0.15000
$0.25516 $0.00000 $0.00000 $0.00000 $0.25516
$0.10000 $0.00000 $0.00000 $0.00000 $0.10000
$0.10000 $0.00000 $0.00000 $0.00000 $0.10000
View Distribution History

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