BITC vs. MAXI
Compare and contrast key facts about Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) and Simplify Bitcoin Strategy PLUS Income ETF (MAXI).
BITC and MAXI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BITC is an actively managed fund by Bitwise. It was launched on Mar 20, 2023. MAXI is an actively managed fund by Simplify. It was launched on Sep 29, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: BITC or MAXI.
Key characteristics
| BITC | MAXI | |
|---|---|---|
| YTD Return | 68.72% | 64.99% |
| 1Y Return | 94.85% | 92.63% |
| Sharpe Ratio | 1.64 | 1.56 |
| Sortino Ratio | 2.27 | 2.20 |
| Omega Ratio | 1.26 | 1.25 |
| Calmar Ratio | 2.97 | 2.63 |
| Martin Ratio | 6.36 | 6.11 |
| Ulcer Index | 14.60% | 14.90% |
| Daily Std Dev | 56.61% | 58.26% |
| Max Drawdown | -31.26% | -34.54% |
| Current Drawdown | -2.30% | -3.73% |
Correlation
The correlation between BITC and MAXI is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
BITC vs. MAXI - Performance Comparison
In the year-to-date period, BITC achieves a 68.72% return, which is significantly higher than MAXI's 64.99% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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BITC vs. MAXI - Expense Ratio Comparison
BITC has a 0.88% expense ratio, which is lower than MAXI's 11.18% expense ratio.
Risk-Adjusted Performance
BITC vs. MAXI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) and Simplify Bitcoin Strategy PLUS Income ETF (MAXI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
BITC vs. MAXI - Dividend Comparison
BITC's dividend yield for the trailing twelve months is around 3.35%, less than MAXI's 35.80% yield.
| TTM | 2023 | 2022 | |
|---|---|---|---|
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | 3.35% | 5.65% | 0.00% |
MAXI Simplify Bitcoin Strategy PLUS Income ETF | 35.80% | 29.63% | 4.05% |
Drawdowns
BITC vs. MAXI - Drawdown Comparison
The maximum BITC drawdown since its inception was -31.26%, smaller than the maximum MAXI drawdown of -34.54%. Use the drawdown chart below to compare losses from any high point for BITC and MAXI. For additional features, visit the drawdowns tool.
Volatility
BITC vs. MAXI - Volatility Comparison
Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) and Simplify Bitcoin Strategy PLUS Income ETF (MAXI) have volatilities of 15.04% and 14.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.