NMT vs HARD

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

NMT vs HARD - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

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

Net Assets

Winner

NMT

$115M

HARD

$115M

Expense Ratio

NMT

N/A

HARD

0.78%

Max Drawdown

NMT

48.99%

Winner

HARD

15.20%

Sharpe Ratio

Winner

NMT

1.09

HARD

0.37

5Y Beta

NMT

0.14

Winner

HARD

0.11

5Y Dividends CAGR

NMT

9.51%

HARD

N/A

NMT vs HARD - Historical Returns

Returns include dividend reinvestment.

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

Winner

NMT

-0.27%

HARD

-12.83%

Winner

NMT

+8.94%

HARD

-9.90%

Winner

NMT

+15.71%

HARD

+9.38%

Winner

NMT

+17.10%

HARD

+9.82%

5Y(CAGR)

NMT

+2.07%

HARD

N/A

10Y(CAGR)

NMT

+2.95%

HARD

N/A

Max(CAGR)

NMT

+4.65%

Winner

HARD

+10.91%

NMT vs HARD - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

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

NMT vs HARD Drawdown Comparison

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

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

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

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

Correlation

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

0.89

-101

Dividend Comparison (1999 - 2026)

NMT vs HARD dividend yield comparison.

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