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HARD

Simplify Commodities Strategy No K-1 ETF

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as of 07/25/2024

NAV

$ 23.51

NAV Change

- $ 0.09 /0.38%

Price

$ 23.53

Price Change

- $ 0.07 /0.30%
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 07/25/2024

Ticker Symbol
HARD
Gross Expense Ratio
0.75%
CUSIP
82889N566
Total Assets
$9,990,582.49
Shares Outstanding
425,001
Distribution Yield as of 06/30/2024 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.
2.48%
Distribution Frequency
Quarterly
30-Day SEC Yield (Subsidized) as of 06/30/2024 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 06/30/2024
3.37%
Options Available
No
Inception Date
03/27/2023
Premium/Discount (%) as of 07/25/2024
0.10%
NAV Per Share as of 07/25/2024
$23.51
Market Price as of 07/25/2024
$23.53
30-Day Median Bid-Ask Spread
0.25%
Bid/Ask
$23.48/$23.57
Midpoint Price
$23.53
Volume
2,697
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 06/30/2024 06/30/2024

Monthly Quarterly
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV -2.85% 3.80% 5.05% 5.05% 0.63% -0.23%
Market Price -2.77% 3.58% 4.86% 4.86% 0.44% -0.42%
Annualized 1 Year 3 Year Since Inception
NAV 0.63% — -0.19%
Market Price 0.44% — -0.34%
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 2nd Quarter of 2024
Days Traded at Premium
122
32
Days Traded at Discount
70
31
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 07/25/2024

Holdings - All ETFs
Ticker Name Quantity Weight
BOU4 COM SOYBEAN OIL FUTR Sep24 -11 -2.99%
BOV4 COM SOYBEAN OIL FUTR Oct24 -5 -1.34%
C H5 COM CORN FUTURE Mar25 -1 -0.22%
C K5 COM CORN FUTURE May25 -2 -0.45%
C U4 COM CORN FUTURE SEP24 -3 -0.61%
CCH5 COM COCOA FUTURE Mar25 1 0.61%
CCU4 COM COCOA FUTURE Sep24 2 1.56%
CCZ4 COM COCOA FUTURE Dec24 5 3.37%
CLF5 COM WTI CRUDE FUTURE JAN25 -1 -0.75%
CLH5 COM WTI CRUDE FUTURE MAR25 -1 -0.74%
CLU4 COM WTI CRUDE FUTURE SEP24 -3 -2.35%
CLV4 COM WTI CRUDE FUTURE OCT24 -1 -0.77%
CTH5 COM COTTON NO.2 FUTR MAR25 -1 -0.35%
CTZ4 COM COTTON NO.2 FUTR Dec24 -3 -1.03%
FCU4 COM CATTLE FEEDER FUT Sep24 6 7.75%
FCV4 COM CATTLE FEEDER FUT Oct24 4 5.15%
GCV4 COM GOLD 100 OZ FUTR OCT24 1 2.38%
GCZ4 COM GOLD 100 OZ FUTR DEC24 9 21.63%
HGU4 COM COPPER FUTURE SEP24 -9 -9.29%
HGZ4 COM COPPER FUTURE DEC24 -1 -1.04%
HOU4 COM NY Harb ULSD Fut Sep24 -14 -14.65%
HOV4 COM NY HARB ULSD FUT OCT24 -3 -3.15%
HOZ4 COM NY HARB ULSD FUT DEC24 -1 -1.05%
KCH5 COM COFFEE 'C' FUTURE Mar25 3 2.61%
KCU4 COM COFFEE 'C' FUTURE Sep24 3 2.64%
KCZ4 COM COFFEE 'C' FUTURE Dec24 2 1.75%
KWU4 COM KC HRW WHEAT FUT Sep24 -5 -1.41%
KWZ4 COM KC HRW WHEAT FUT Dec24 -1 -0.29%
LCV4 COM LIVE CATTLE FUTR Oct24 20 15.11%
LCZ4 COM LIVE CATTLE FUTR Dec24 7 5.30%
LHV4 COM LEAN HOGS FUTURE Oct24 20 6.23%
LHZ4 COM LEAN HOGS FUTURE Dec24 7 1.96%
NGX24 COM NATURAL GAS FUTR Nov24 -1 -0.27%
PAU4 COM PALLADIUM FUTURE Sep24 -3 -2.69%
PLV4 COM PLATINUM FUTURE Oct24 3 1.42%
RSF5 COM CANOLA FUTR (WCE) Jan25 -12 -1.18%
RSH5 COM CANOLA FUTR (WCE) Mar25 -5 -0.49%
RSX4 COM CANOLA FUTR (WCE) NOV24 -30 -2.92%
S F5 COM SOYBEAN FUTURE Jan25 -2 -1.10%
S X4 COM SOYBEAN FUTURE NOV24 -2 -1.08%
SBH5 COM SUGAR #11 (WORLD) MAR25 14 2.97%
SBK5 COM SUGAR #11 (WORLD) MAY25 4 0.81%
SBV4 COM SUGAR #11 (WORLD) Oct24 19 3.98%
SIU4 COM SILVER FUTURE Sep24 -3 -4.20%
SMU4 COM SOYBEAN MEAL FUTR Sep24 -2 -0.67%
SMV4 COM SOYBEAN MEAL FUTR Oct24 -1 -0.33%
W U4 COM WHEAT FUTURE(CBT) Sep24 -3 -0.81%
W Z4 COM WHEAT FUTURE(CBT) Dec24 -2 -0.56%
XBU4 COM GASOLINE RBOB FUT SEP24 -3 -3.06%
XBV4 COM GASOLINE RBOB FUT OCT24 -2 -1.88%
XBX4 COM GASOLINE RBOB FUT Nov24 -1 -0.92%
XBZ4 COM GASOLINE RBOB FUT Dec24 -1 -0.90%
- TREASURY BILL DN 8/24 2200000 21.97%
- TREASURY BILL DN 8/24 400000 3.99%
- TREASURY BILL 0 9/24 5550000 55.14%
- TREASURY BILL DN 9/24 1300000 12.91%
- TREASURY BILL DN 10/24 500000 4.94%
- CANADIAN DOLLAR -39212 -0.28%
- Estimated Cash 305417 2.96%

Holdings are subject to change without notice.

As of

Portfolio Risk Profile
Category Weight Est. Initial Margin Contrib to Vol
GOLD 100 OZ FUTR 23.93% 110,000 13.14%
COCOA FUTURE 4.84% 115,529 11.98%
NY HARB ULSD FUT -16.19% 144,760 9.92%
LEAN HOGS FUTURE 9.32% 51,150 7.84%
LIVE CATTLE FUTR 20.86% 75,460 6.76%
COPPER FUTURE -10.18% 67,100 6.76%
COFFEE 'C' FUTURE 5.93% 48,478 6.62%
SUGAR #11 (WORLD) 6.74% 43,920 5.59%
SOYBEAN OIL FUTR -5.30% 38,115 5.13%
GASOLINE RBOB FUT -7.63% 62,370 4.34%
SILVER FUTURE -4.15% 37,950 4.32%
CANOLA FUTR (WCE) -4.36% 24,288 3.80%
WTI CRUDE FUTURE -7.54% 70,895 3.63%
PALLADIUM FUTURE -2.63% 33,000 3.21%
KC HRW WHEAT FUT -1.62% 13,750 1.46%
COTTON NO.2 FUTR -2.37% 15,884 1.33%
SOYBEAN FUTURE -2.08% 10,284 1.33%
WHEAT FUTURE(CBT) -1.32% 11,330 1.24%
PLATINUM FUTURE 1.40% 9,240 1.18%
NATURAL GAS FUTR -0.26% 5,500 0.27%
CORN FUTURE -0.21% 1,320 0.14%
Total 7.18% 990,323 100.00%
Treasury Bill 97.56% 9,887,309 5.37%
Pure Cash 2.73% 277,175 0.00%
Total 100.29% 10,164,485 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
N/A N/A N/A N/A N/A
$0.15000 $0.00000 $0.00000 $0.00000 $0.15000
$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
View Distribution History

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