HARD

Simplify Commodities Strategy No K-1 ETF

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as of 05/31/2023

NAV

$ 25.66

NAV Change

- $ 0.09 /0.35%

Price

$ 25.65

Price Change

- $ 0.14 /0.54%
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 05/31/2023

Ticker Symbol
HARD
Gross Expense Ratio
0.75%
CUSIP
82889N566
Total Assets
$6,415,587.81
Shares Outstanding
250,001
SEC 30-Day Yield as of 04/30/2023 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.
-
Unsubsidized 30-Day SEC Yield as of 04/30/2023
-
Distribution Frequency
N/A
Distribution Yield as of 05/31/2023 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.
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Options Available
No
Inception Date
03/27/2023
Premium/Discount (%) as of 05/31/2023
-0.05%
NAV
$25.66
NAV Per Share as of 05/31/2023
$25.66
Market Price as of 05/31/2023
$25.65
30-Day Median Bid-Ask Spread
0.27%
Bid/Ask
$25.62/$25.69
Midpoint Price
$25.66
Volume
427
NAV Symbol
HARD.NV
IOPV Symbol
HARD.IV
Shares Out. Symbol
HARD.SO

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 04/30/2023 03/31/2023

Monthly Quarterly
Cumulative 1 Month 3 Month 6 Month YTD 1 Year Since Inception
NAV 1.12% — — — — 0.68%
Market Price 1.17% — — — — 0.74%
Annualized 1 Year 3 Year Since Inception
NAV — — —
Market Price — — —
Cumulative 1 Year Since Inception
NAV — -0.44%
Market Price — -0.42%
Annualized 1 Year 3 Year 5 Year Since Inception
NAV — — — —
Market Price — — — —
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 2022 1st Quarter of 2023
Days Traded at Premium
N/A
4
Days Traded at Discount
N/A
N/A
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.
Ticker Name Quantity Weight
BON3 COM SOYBEAN OIL FUTR Jul23 -6 -2.59%
BOQ3 COM SOYBEAN OIL FUTR Aug23 -1 -0.43%
C Z3 COM CORN FUTURE DEC23 -3 -1.22%
CLQ3 COM WTI CRUDE FUTURE Aug23 3 3.19%
CLU3 COM WTI CRUDE FUTURE Sep23 2 2.12%
CLZ3 COM WTI CRUDE FUTURE Dec23 3 3.15%
GCQ3 COM GOLD 100 OZ FUTR Aug23 -5 -15.45%
HGN3 COM COPPER FUTURE Jul23 -4 -5.67%
NGQ23 COM NATURAL GAS FUTR Aug23 2 0.74%
NGV23 COM NATURAL GAS FUTR Oct23 1 0.39%
S N3 COM SOYBEAN FUTURE Jul23 -12 -12.16%
S Q3 COM SOYBEAN FUTURE Aug23 -2 -1.90%
S X3 COM SOYBEAN FUTURE Nov23 -1 -0.89%
SIN3 COM SILVER FUTURE Jul23 -1 -1.84%
W N3 COM WHEAT FUTURE(CBT) JUL23 -5 -2.32%
W U3 COM WHEAT FUTURE(CBT) Sep23 -5 -2.37%
W Z3 COM WHEAT FUTURE(CBT) Dec23 -3 -1.47%
XBN3 COM GASOLINE RBOB FUT Jul23 3 4.80%
- TREASURY BILL DN 6/23 2040000 31.78%
- TREASURY BILL DN 6/23 600000 9.34%
- TREASURY BILL DN 9/23 1800000 27.67%
- TREASURY BILL DN 9/23 385000 5.92%
- Estimated Cash 1557829 24.28%

Holdings are subject to change without notice.