CTA vs. MAXI

Last updated Aug 2, 2026

CTA (Simplify Managed Futures Strategy ETF) and MAXI (Simplify Bitcoin Strategy PLUS Income ETF) are both exchange-traded funds - CTA is a Systematic Trend fund actively managed by Simplify, while MAXI is a Cryptocurrency fund actively managed by Simplify. Both are actively managed. Over the past 3 years, CTA returned 8.35%/yr vs 7.00%/yr for MAXI. Their 0.04 correlation means their historical movements had little consistent relationship. CTA charges 0.78%/yr vs 1.31%/yr for MAXI.

Performance

CTA vs. MAXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Managed Futures Strategy ETF (CTA) 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, CTA achieves a 2.94% return, which is significantly higher than MAXI's -36.57% return.

CTA

• 1D: 0.41%
• 1M: 6.16%
• 6M: -0.31%
• YTD: 2.94%
• 1Y: 7.76%
• 3Y*: 8.35%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.49%

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%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CTA Simplify Managed Futures Strategy ETF	$11.61M	$12.21M	$14.75M
MAXI Simplify Bitcoin Strategy PLUS Income ETF	$93.05K	$101.39K	$235.85K

CTA vs. MAXI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CTA Simplify Managed Futures Strategy ETF	2.94%	0.88%	24.15%	-2.23%	-6.13%
MAXI Simplify Bitcoin Strategy PLUS Income ETF	-36.57%	-28.59%	92.92%	144.12%	-13.34%

Correlation

The correlation between CTA and MAXI is -0.00, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.00
Correlation (3Y) Balances recent behavior with more history.	0.06
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022	0.04

Return for Risk

CTA vs. MAXI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CTA

CTA Risk / Return Rank: 15
CTA Sharpe Ratio Rank: 15
CTA Sortino Ratio Rank: 15
CTA Omega Ratio Rank: 15
CTA Calmar Ratio Rank: 14
CTA Martin Ratio Rank: 15

MAXI

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CTA vs. MAXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Managed Futures Strategy ETF (CTA) 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.

	CTA	MAXI	Difference
Sharpe ratio: Return per unit of total volatility	0.19	-0.99	+1.18
Sortino ratio: Return per unit of downside risk	0.39	-1.70	+2.09
Omega ratio: Gain probability vs. loss probability	1.05	0.82	+0.24
Calmar ratio: Return relative to maximum drawdown	0.20	-0.93	+1.12
Martin ratio: Return relative to average drawdown	0.53	-1.28	+1.81

CTA vs. MAXI - Sharpe Ratio Comparison

The current CTA Sharpe Ratio is 0.19, which is higher than the MAXI Sharpe Ratio of -0.99. The chart below compares the historical Sharpe Ratios of CTA and MAXI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CTA vs. MAXI - Drawdown Comparison

The maximum CTA drawdown since its inception was -20.44%, smaller than the maximum MAXI drawdown of -69.56%. Use the drawdown chart below to compare losses from any high point for CTA and MAXI.

Drawdown Indicators

	CTA	MAXI	Difference
Max Drawdown Largest peak-to-trough decline	-20.44%	-69.56%	+49.12%
Max Drawdown (1Y) Largest decline over 1 year	-20.44%	-69.56%	+49.12%
Max Drawdown (3Y) Largest decline over 3 years	-20.44%	-69.56%	+49.12%
Current Drawdown Current decline from peak	-15.54%	-67.84%	+52.30%
Average Drawdown Average peak-to-trough decline	-6.06%	-20.73%	+14.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.61%	50.31%	-42.70%

Volatility

CTA vs. MAXI - Volatility Comparison

The current volatility for Simplify Managed Futures Strategy ETF (CTA) is 8.38%, while Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a volatility of 16.45%. This indicates that CTA 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.

Volatility by Period

	CTA	MAXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.38%	16.45%	-8.07%
Volatility (6M) Calculated over the trailing 6-month period	19.10%	43.72%	-24.62%
Volatility (1Y) Calculated over the trailing 1-year period	21.74%	64.89%	-43.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.92%	63.28%	-46.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.92%	63.28%	-46.36%

CTA vs. MAXI - Expense Ratio Comparison

CTA has a 0.78% expense ratio, which is lower than MAXI's 1.31% expense ratio.

Dividends

CTA vs. MAXI - Dividend Comparison

CTA's dividend yield for the trailing twelve months is around 5.38%, less than MAXI's 56.27% yield.

Position	TTM	2025	2024	2023	2022
CTA Simplify Managed Futures Strategy ETF	5.38%	3.19%	4.80%	7.78%	6.58%
MAXI Simplify Bitcoin Strategy PLUS Income ETF	56.27%	49.00%	32.06%	29.63%	4.43%

Frequently Asked Questions

Can I hold both CTA and MAXI in my portfolio?

CTA and MAXI have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CTA or MAXI?

MAXI has higher volatility (16.45%) compared to CTA (8.38%). In terms of maximum drawdown, CTA dropped -20.44% vs MAXI's -69.56%.

Which ETF is better, CTA or MAXI?

On 3-year performance, CTA leads with 8.35% vs 7.00% for MAXI. On fees, CTA is cheaper at 0.78% per year. On volatility, CTA has been the lower-risk option at 8.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CTA or MAXI?

Over the 3-year period, CTA has performed better with a 8.35% return vs 7.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CTA or MAXI?

CTA is cheaper with a 0.78% expense ratio, compared with 1.31% for MAXI.

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

MAXI has the higher dividend yield at 56.27%, compared with 5.38% for CTA.

What is the main difference between CTA and MAXI?

CTA is categorized as Systematic Trend, while MAXI is Cryptocurrency. Their fees differ too: 0.78% for CTA and 1.31% for MAXI.

Which has better risk-adjusted returns?

CTA currently has the higher Sharpe Ratio (0.19 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.