BITC vs. MAXI
BITC (Bitwise Bitcoin Strategy Optimum Roll ETF) and MAXI (Simplify Bitcoin Strategy PLUS Income ETF) are both Cryptocurrency funds. Both are actively managed. Over the past 3 years, BITC returned 29.84%/yr vs 7.00%/yr for MAXI. Their 0.77 correlation means they have sometimes moved together and sometimes differently. BITC charges 0.88%/yr vs 1.31%/yr for MAXI.
Performance
BITC vs. MAXI - Performance Comparison
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Returns By Period
In the year-to-date period, BITC achieves a -1.76% return, which is significantly higher than MAXI's -36.57% return.
BITC
- 1D
- -2.97%
- 1M
- -1.31%
- 6M
- -1.00%
- YTD
- -1.76%
- 1Y
- -24.54%
- 3Y*
- 29.84%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 26.54%
MAXI
- 1D
- -4.97%
- 1M
- -0.08%
- 6M
- -32.57%
- YTD
- -36.57%
- 1Y
- -63.49%
- 3Y*
- 7.00%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 17.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $51.18K | $64.98K | $91.15K | |
| $93.05K | $101.39K | $235.85K |
BITC vs. MAXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | -1.76% | -20.46% | 97.86% | 42.71% |
MAXI Simplify Bitcoin Strategy PLUS Income ETF | -36.57% | -28.59% | 92.92% | 46.11% |
Correlation
The correlation between BITC and MAXI is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.54 |
Correlation (3Y) Balances recent behavior with more history. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2023 | 0.77 |
Over the past year, the correlation between BITC and MAXI has dropped to 0.54 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.
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Return for Risk
BITC vs. MAXI — Risk / Return Rank
BITC
MAXI
BITC vs. MAXI - Risk-Adjusted Trends 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BITC | MAXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 0.82 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | -0.93 | +0.04 |
| Martin ratioReturn relative to average drawdown | -1.19 | -1.28 | +0.09 |
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Drawdowns
BITC vs. MAXI - Drawdown Comparison
The maximum BITC drawdown since its inception was -38.51%, smaller than the maximum MAXI drawdown of -69.56%. Use the drawdown chart below to compare losses from any high point for BITC and MAXI.
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Drawdown Indicators
| BITC | MAXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.51% | -69.56% | +31.05% |
Max Drawdown (1Y)Largest decline over 1 year | -27.89% | -69.56% | +41.67% |
Max Drawdown (3Y)Largest decline over 3 years | -38.51% | -69.56% | +31.05% |
Current DrawdownCurrent decline from peak | -32.48% | -67.84% | +35.36% |
Average DrawdownAverage peak-to-trough decline | -16.98% | -20.73% | +3.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.72% | 50.31% | -29.59% |
Volatility
BITC vs. MAXI - Volatility Comparison
The current volatility for Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) is 8.07%, while Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a volatility of 16.45%. This indicates that BITC experiences smaller price fluctuations and is considered to be less risky than MAXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BITC | MAXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.07% | 16.45% | -8.38% |
Volatility (6M)Calculated over the trailing 6-month period | 18.32% | 43.72% | -25.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.11% | 64.89% | -39.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.81% | 63.28% | -17.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.81% | 63.28% | -17.47% |
BITC vs. MAXI - Expense Ratio Comparison
BITC has a 0.88% expense ratio, which is lower than MAXI's 1.31% expense ratio.
Dividends
BITC vs. MAXI - Dividend Comparison
BITC's dividend yield for the trailing twelve months is around 3.42%, less than MAXI's 56.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BITC Bitwise Bitcoin Strategy Optimum Roll ETF | 3.42% | 3.36% | 42.68% | 5.82% | 0.00% |
MAXI Simplify Bitcoin Strategy PLUS Income ETF | 56.27% | 49.00% | 32.06% | 29.63% | 4.43% |
Frequently Asked Questions
BITC and MAXI have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MAXI has higher volatility (16.45%) compared to BITC (8.07%). In terms of maximum drawdown, BITC dropped -38.51% vs MAXI's -69.56%.
On 3-year performance, BITC leads with 29.84% vs 7.00% for MAXI. On fees, BITC is cheaper at 0.88% per year. On volatility, BITC has been the lower-risk option at 8.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BITC has performed better with a 29.84% return vs 7.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BITC is cheaper with a 0.88% expense ratio, compared with 1.31% for MAXI.
MAXI has the higher dividend yield at 56.27%, compared with 3.42% for BITC.
They also come from different issuers: Bitwise and Simplify. Their fees differ too: 0.88% for BITC and 1.31% for MAXI.
BITC currently has the higher Sharpe Ratio (-0.98 vs -0.99), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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