BLOX vs. MAXI

Last updated Jun 4, 2026

BLOX (Nicholas Crypto Income ETF) and MAXI (Simplify Bitcoin Strategy PLUS Income ETF) are both Cryptocurrency funds. Both are actively managed. Their correlation of 0.80 suggests significant overlap in exposure. BLOX charges 1.03%/yr vs 0.97%/yr for MAXI.

Performance

BLOX vs. MAXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nicholas Crypto Income ETF (BLOX) and Simplify Bitcoin Strategy PLUS Income ETF (MAXI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BLOX achieves a 16.52% return, which is significantly higher than MAXI's -33.46% return.

BLOX

• 1D: -2.56%
• 1M: 10.59%
• YTD: 16.52%
• 6M: 5.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MAXI

• 1D: -2.93%
• 1M: -20.54%
• YTD: -33.46%
• 6M: -42.63%
• 1Y: -60.98%
• 3Y*: 11.19%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BLOX vs. MAXI - Yearly Performance Comparison

	2026 (YTD)	2025
BLOX Nicholas Crypto Income ETF	16.52%	9.24%
MAXI Simplify Bitcoin Strategy PLUS Income ETF	-33.46%	-36.61%

Correlation

The correlation between BLOX and MAXI is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.80

BLOX vs. MAXI - Sectors Allocation Comparison

Sectors	BLOX	MAXI
Financial Services	60.7%	-
Technology	39.3%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	100.0%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

BLOX vs. MAXI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MAXI

MAXI Risk / Return Rank: 1
MAXI Sharpe Ratio Rank: 2
MAXI Sortino Ratio Rank: 1
MAXI Omega Ratio Rank: 2
MAXI Calmar Ratio Rank: 1
MAXI Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BLOX vs. MAXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nicholas Crypto Income ETF (BLOX) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BLOX	MAXI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.93	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.31	+0.23

Drawdowns

BLOX vs. MAXI - Drawdown Comparison

The maximum BLOX drawdown since its inception was -47.09%, smaller than the maximum MAXI drawdown of -66.78%. Use the drawdown chart below to compare losses from any high point for BLOX and MAXI.

Drawdown Indicators

	BLOX	MAXI	Difference
Max Drawdown Largest peak-to-trough decline	-47.09%	-66.78%	+19.69%
Max Drawdown (1Y) Largest decline over 1 year	—	-66.78%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-66.78%	—
Current Drawdown Current decline from peak	-19.45%	-66.27%	+46.82%
Average Drawdown Average peak-to-trough decline	-18.53%	-18.74%	+0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	42.76%	—

Volatility

Volatility by Period

	BLOX	MAXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.92%	—
Volatility (6M) Calculated over the trailing 6-month period	—	45.84%	—
Volatility (1Y) Calculated over the trailing 1-year period	53.44%	65.83%	-12.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.44%	63.81%	-10.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.44%	63.81%	-10.37%

BLOX vs. MAXI - Expense Ratio Comparison

BLOX has a 1.03% expense ratio, which is higher than MAXI's 0.97% expense ratio.

Dividends

BLOX vs. MAXI - Dividend Comparison

BLOX's dividend yield for the trailing twelve months is around 36.81%, less than MAXI's 66.33% yield.

Position	TTM	2025	2024	2023	2022
BLOX Nicholas Crypto Income ETF	36.81%	22.69%	0.00%	0.00%	0.00%
MAXI Simplify Bitcoin Strategy PLUS Income ETF	66.33%	49.00%	32.06%	29.63%	4.43%

Frequently Asked Questions

Can I hold both BLOX and MAXI in my portfolio?

BLOX and MAXI have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BLOX or MAXI?

On fees, MAXI is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BLOX or MAXI?

MAXI is cheaper with a 0.97% expense ratio, compared with 1.03% for BLOX.

Which ETF pays a higher dividend yield, BLOX or MAXI?

MAXI has the higher dividend yield at 66.33%, compared with 36.81% for BLOX.

What is the main difference between BLOX and MAXI?

They also come from different issuers: Nicholas and Simplify. Their fees differ too: 1.03% for BLOX and 0.97% for MAXI.