HARD vs NMT

Comparison between SIMPLIFY COMMODITIES STRATEGY NO K-1 ETF (HARD, ETF) and Nuveen Massachusetts Quality Municipal Income Fund (NMT, ETF).

HARD vs NMT - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	HARD(ETF)	NMT(ETF)
Net Assets	$115M	$115M
Expense Ratio	0.78%	N/A
Max Drawdown	15.20%	48.99%
Sharpe Ratio	0.37	1.09
5Y Beta	0.11	0.14
5Y Dividends CAGR	N/A	9.51%

Net Assets

HARD

$115M

Winner

NMT

$115M

Expense Ratio

HARD

0.78%

NMT

N/A

Max Drawdown

Winner

HARD

15.20%

NMT

48.99%

Sharpe Ratio

HARD

0.37

Winner

NMT

1.09

5Y Beta

Winner

HARD

0.11

NMT

0.14

5Y Dividends CAGR

HARD

N/A

NMT

9.51%

HARD vs NMT - Historical Returns

Returns include dividend reinvestment.

Period	HARD	NMT
1 month	-12.83%	-0.27%
3 months	-9.90%	+8.94%
6 months	+9.38%	+15.71%
1 year	+9.82%	+17.10%
5 years(CAGR)	N/A	+2.07%
10 years(CAGR)	N/A	+2.95%
Max(CAGR)	+10.91%	+4.65%

HARD

-12.83%

Winner

NMT

-0.27%

HARD

-9.90%

Winner

NMT

+8.94%

HARD

+9.38%

Winner

NMT

+15.71%

HARD

+9.82%

Winner

NMT

+17.10%

5Y(CAGR)

HARD

N/A

NMT

+2.07%

10Y(CAGR)

HARD

N/A

NMT

+2.95%

Max(CAGR)

Winner

HARD

+10.91%

NMT

+4.65%

HARD vs NMT - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	HARD	NMT
2026	+8.31%	+17.82%
2025	+13.42%	+5.85%
2024	+20.69%	+16.17%
2023	-5.04%	+1.52%
2022	N/A	-30.75%
2021	N/A	+9.84%
2020	N/A	+6.18%
2019	N/A	+23.70%
2018	N/A	-14.40%
2017	N/A	+13.61%
2016	N/A	+0.05%
2015	N/A	+8.91%
2014	N/A	+15.06%
2013	N/A	-16.13%
2012	N/A	+6.26%
2011	N/A	+17.17%
2010	N/A	+4.45%
2009	N/A	+43.04%
2008	N/A	-20.35%
2007	N/A	-7.15%
2006	N/A	-3.17%
2005	N/A	+3.83%
2004	N/A	+8.22%
2003	N/A	+4.73%
2002	N/A	+6.23%
2001	N/A	+12.45%
2000	N/A	+10.29%
1999	N/A	-6.15%

HARD vs NMT Drawdown Comparison

The maximum drawdown for HARD was -15.20%, occurring on Jun 12, 2026. This drawdown has not yet recovered.

The maximum drawdown for NMT was -40.09%, occurring on Oct 10, 2008. Recovery took 895 trading sessions.

The current HARD drawdown is -15.20%. The current NMT drawdown is -2.29%.

Rank	HARD	NMT
#1	-15.20% Apr 30, 2026 - Jun 12, 2026	-40.09% Mar 2, 2006 - Sep 21, 2009
#2	-13.51% Apr 2, 2025 - Oct 8, 2025	-38.87% Nov 22, 2021 - May 1, 2026
#3	-11.78% Aug 9, 2023 - May 17, 2024	-21.46% Jan 24, 2013 - Dec 3, 2015
#4	-11.49% Apr 6, 2026 - Apr 29, 2026	-20.51% Jul 25, 2016 - Aug 1, 2019
#5	-10.58% May 20, 2024 - Nov 25, 2024	-18.20% Oct 21, 2010 - Jan 5, 2012
#6	-10.56% Oct 16, 2025 - Jan 29, 2026	-17.05% Jan 24, 2020 - Jul 10, 2020
#7	-8.09% Feb 19, 2025 - Apr 2, 2025	-16.42% Jun 4, 2003 - Mar 31, 2004
#8	-7.47% Mar 18, 2026 - Mar 30, 2026	-15.35% Feb 15, 2005 - Sep 7, 2005
#9	-6.34% Jan 29, 2026 - Feb 24, 2026	-13.69% Mar 31, 2004 - Oct 27, 2004
#10	-5.58% May 19, 2023 - Aug 8, 2023	-9.72% Nov 3, 1999 - Jul 27, 2000
#11	-4.20% Mar 12, 2026 - Mar 18, 2026	-8.85% Oct 7, 2009 - Mar 4, 2010
#12	-3.96% Mar 30, 2026 - Apr 2, 2026	-8.72% Feb 13, 2012 - May 2, 2012
#13	-2.85% Apr 13, 2023 - May 2, 2023	-8.29% Oct 8, 2002 - Mar 11, 2003
#14	-2.77% Dec 17, 2024 - Dec 31, 2024	-7.58% Oct 15, 2012 - Jan 17, 2013
#15	-2.68% Nov 29, 2024 - Dec 10, 2024	-7.49% Sep 7, 2005 - Feb 28, 2006

Correlation

Correlation between HARD and NMT is 0.89 which considered as a strong positive correlation - the stocks tend to move together.

0.89

-101

Dividend Comparison (1999 - 2026)

HARD vs NMT dividend yield comparison.

Year	HARD	NMT
2026	0.94%	2.47%
2025	2.36%	7.27%
2024	3.51%	5.94%
2023	1.95%	3.06%
2022	0.00%	4.50%
2021	0.00%	3.43%
2020	0.00%	3.60%
2019	0.00%	3.46%
2018	0.00%	4.66%
2017	0.00%	4.57%
2016	0.00%	5.30%
2015	0.00%	5.15%
2014	0.00%	5.05%
2013	0.00%	5.63%
2012	0.00%	4.93%
2011	0.00%	5.24%
2010	0.00%	6.12%
2009	0.00%	5.31%
2008	0.00%	6.87%
2007	0.00%	5.04%
2006	0.00%	5.10%
2005	0.00%	5.67%
2004	0.00%	5.64%
2003	0.00%	6.12%
2002	0.00%	5.39%
2001	0.00%	6.16%
2000	0.00%	5.75%
1999	0.00%	1.00%