CTAP vs. MAXI
CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) and MAXI (Simplify Bitcoin Strategy PLUS Income ETF) are both exchange-traded funds - CTAP is a Diversified Portfolio fund actively managed by Simplify, while MAXI is a Cryptocurrency fund actively managed by Simplify. Both are actively managed. At a 0.15 correlation, their price movements are largely independent. CTAP charges 0.10%/yr vs 1.31%/yr for MAXI.
Performance
CTAP vs. MAXI - Performance Comparison
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Returns By Period
In the year-to-date period, CTAP achieves a 7.96% return, which is significantly higher than MAXI's -36.84% return.
CTAP
- 1D
- 2.15%
- 1M
- -4.45%
- 6M
- 3.36%
- YTD
- 7.96%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MAXI
- 1D
- -5.35%
- 1M
- -2.27%
- 6M
- -40.90%
- YTD
- -36.84%
- 1Y
- -67.11%
- 3Y*
- 5.69%
- 5Y*
- —
- 10Y*
- —
CTAP vs. MAXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 7.96% | 2.22% |
MAXI Simplify Bitcoin Strategy PLUS Income ETF | -36.84% | -9.41% |
Correlation
The correlation between CTAP and MAXI is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 9, 2025 | 0.15 |
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Return for Risk
CTAP vs. MAXI — Risk / Return Rank
CTAP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MAXI
CTAP vs. MAXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP) 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.
| CTAP | MAXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.80 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.97 | — |
| Martin ratioReturn relative to average drawdown | — | -1.40 | — |
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Drawdowns
CTAP vs. MAXI - Drawdown Comparison
The maximum CTAP drawdown since its inception was -20.48%, smaller than the maximum MAXI drawdown of -69.56%. Use the drawdown chart below to compare losses from any high point for CTAP and MAXI.
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Drawdown Indicators
| CTAP | MAXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.48% | -69.56% | +49.08% |
Max Drawdown (1Y)Largest decline over 1 year | — | -69.56% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -69.56% | — |
Current DrawdownCurrent decline from peak | -15.43% | -67.98% | +52.55% |
Average DrawdownAverage peak-to-trough decline | -4.40% | -20.07% | +15.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 47.89% | — |
Volatility
CTAP vs. MAXI - Volatility Comparison
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Volatility by Period
| CTAP | MAXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 13.41% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 44.42% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 24.47% | 64.56% | -40.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.47% | 63.42% | -38.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.47% | 63.42% | -38.95% |
CTAP vs. MAXI - Expense Ratio Comparison
CTAP has a 0.10% expense ratio, which is lower than MAXI's 1.31% expense ratio.
Dividends
CTAP vs. MAXI - Dividend Comparison
CTAP's dividend yield for the trailing twelve months is around 1.84%, less than MAXI's 67.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF | 1.84% | 0.00% | 0.00% | 0.00% | 0.00% |
MAXI Simplify Bitcoin Strategy PLUS Income ETF | 67.44% | 49.00% | 32.06% | 29.63% | 4.43% |
Frequently Asked Questions
CTAP and MAXI have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CTAP is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CTAP is cheaper with a 0.10% expense ratio, compared with 1.31% for MAXI.
MAXI has the higher dividend yield at 67.44%, compared with 1.84% for CTAP.
CTAP is categorized as Diversified Portfolio, while MAXI is Cryptocurrency. Their fees differ too: 0.10% for CTAP and 1.31% for MAXI.
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