Uses futures to take long or short positions in Chinese commodities, structured so holders do not receive a K-1 tax form, as its name describes.
CCOM, the Simplify Chinese Commodities Strategy No K-1 ETF, is a $101 million ETF whose main story is hard asset flight.
The narrative it carries
Its main narrative, at 0.7 of its exposure.
Hard asset flight →
Gold, silver and the miners: assets held because no government issues them.
The band is where this narrative’s level sits among the 22 this week. QUIET means less talked about, not falling.
| # | ETF | SHARE | ASSETS | 1 YEAR | COST |
|---|---|---|---|---|---|
| 1 | GLD | 36.5% | $141.70bn | +7.1% | 0.40% |
| 2 | IAU | 16.0% | $62.22bn | +7.3% | 0.25% |
| 3 | GLDM | 7.9% | $30.71bn | +7.5% | 0.10% |
| 4 | SLV | 7.7% | $29.96bn | +28.7% | 0.50% |
| 5 | GDX | 6.8% | $26.25bn | +14.7% | 0.51% |
| 101 other ETFs | 25.1% |
Share is each ETF’s slice of the capital carrying this narrative. 1 year is market price total return; cost is the expense ratio. See all 106 ETFs on the narrative page →
Also carries: The trade-war tax →
Retailers, brands and US manufacturers: the companies that pay tariffs or are protected by them.
FRI OCT 2MARKET PRICE TOTAL RETURN
| 1M | 3M | YTD | 1Y | 3Y* | 5Y* | |
|---|---|---|---|---|---|---|
| CCOM | −0.7% | −1.2% | – | – | – | – |
| Hard asset flightits narrative | −5.7% | +3.3% | +0.3% | +14.9% | +33.7% | +19.5% |
| The marketbroad US ETFs | +0.8% | +2.6% | +14.6% | +16.8% | +22.9% | +12.9% |
1M, 3M, 1Y, 3Y, 5Y: one month to five years. YTD: year to date. * A year, annualised. A dash means the ETF has not traded for the whole period. Since it started trading on January 28, 2026: −4.2%.
$10,000 invested January 31, 2026
Total return on the market price, with each distribution reinvested on its ex-date. Not the NAV return the issuer publishes; the two differ when the ETF trades above or below the value of its holdings. The narrative is the asset-weighted return of the unlevered ETFs that carry it. The market is the asset-weighted return of broad US index ETFs. Past performance is no guarantee of future results.
FRI OCT 2MARKET PRICE TOTAL RETURN
CCOM has traded for less than a year, so how it moves against the market is not shown yet.
Where it sits in Hard asset flight
Each dot is one of 54 unlevered ETFs whose main narrative is hard asset flight, placed by its return (up) and how much it swung (right) over the last year.
Risk
Cost against its peers
CCOM is the 35th cheapest of 35 ETFs in hard asset flight. The dashed line is the middle of the group, 0.51% a year.
How it is built
An unlevered long ETF that gets its exposure through futures. It counts toward Share of Narrative.
Narrative exposure
Second narrative: not yet confirmed from a filing.
Common questions
What story is CCOM selling?
CCOM’s main story is hard asset flight, which covers gold, silver and the miners: assets held because no government issues them. Its second is the trade-war tax.
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