HARD vs SPY
Simplify Commodities Strategy No K-1 ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, HARD or SPY?
Long-Short Strategy against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | HARD | SPY |
|---|---|---|
| Expense Ratio | 0.78% | 0.09%Best |
| AUM | $62M | $814.4B |
| Dividend Yield | 2.95% | 1.01% |
| Holdings | 83 | 505 |
| YTD Return | +15.26%Best | +13.34% |
| 1Y Return | +14.19% | +19.97%Best |
| 3Y Return (annualized) | +12.88% | +21.20%Best |
| 5Y Return (annualized) | - | +12.81% |
| Volatility (annualized) | 16.5% | 12.4%Best |
| Max Drawdown | -21.0% | -18.8%Best |
| $10,000 over 3.4 years | $14,768 | $20,120Best |
| Fund Family | Simplify Exchange Traded Funds | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Long-Short Strategy | Large Cap Blend |
| Inception | Mar 27, 2023 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.4 years row, are measured over the window both funds cover: Mar 28, 2023 to Sep 4, 2026 (3.4 years).
HARD vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.4 years both funds cover.
HARD vs SPY Performance
Simplify Commodities Strategy No K-1 ETF (HARD) is an ETF from Simplify Exchange Traded Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year HARD returned +14.19% while SPY returned +19.97%. Year to date, HARD is up 15.26% versus a gain of 13.34% for SPY.
Over three years, HARD compounded at +12.88% per year against +21.20% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HARD has been the more volatile fund, with annualized monthly volatility of 16.5% compared with 12.4% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -21.0% for HARD and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.08. They move largely independently of each other.
Fees and Cost Over Time
HARD charges 0.78% per year while SPY charges 0.09%. On a $10,000 position that is $78 vs $9 annually, a gap of $69 per year that compounds over a long holding period. On income, HARD currently yields 2.95% against 1.01% for SPY.
Holdings Overlap
We hold position weights for 1 holding in HARD and 504 in SPY, totalling 69.3% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 1 positions we hold weights for in HARD and 504 in SPY, against full books of 83 and 505.
You are not choosing between two funds in isolation.
Whichever of HARD and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HARD or SPY?
HARD has an expense ratio of 0.78% while SPY charges 0.09%. SPY is the cheaper option, by $69 a year on a $10,000 investment.
Which performed better, HARD or SPY?
Over the past year HARD returned +14.19% vs +19.97% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HARD or SPY?
HARD has been the more volatile fund at 16.5% annualized versus 12.4% for SPY. Worst drawdown: HARD -21.0% vs SPY -18.8%.
Should I hold both HARD and SPY?
HARD and SPY have a monthly-return correlation of -0.08, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, HARD or SPY?
HARD yields 2.95% while SPY yields 1.01%, so HARD currently pays the higher dividend yield.
Is SPY better than HARD?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.