IYRI vs. MAXI

Last updated Jun 21, 2026

IYRI (NEOS Real Estate High Income ETF) and MAXI (Simplify Bitcoin Strategy PLUS Income ETF) are both exchange-traded funds - IYRI is a Derivative Income fund actively managed by Neos, while MAXI is a Cryptocurrency fund actively managed by Simplify. Both are actively managed. Over the past year, IYRI returned 8.01% vs -57.63% for MAXI. At a 0.20 correlation, their price movements are largely independent. IYRI charges 0.68%/yr vs 1.31%/yr for MAXI.

Performance

IYRI vs. MAXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Real Estate High Income ETF (IYRI) 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, IYRI achieves a 4.71% return, which is significantly higher than MAXI's -35.86% return.

IYRI

• 1D: -0.47%
• 1M: -1.40%
• YTD: 4.71%
• 6M: 5.51%
• 1Y: 8.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MAXI

• 1D: -1.94%
• 1M: -19.20%
• YTD: -35.86%
• 6M: -37.09%
• 1Y: -57.63%
• 3Y*: 10.98%
• 5Y*: —
• 10Y*: —

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

IYRI vs. MAXI - Yearly Performance Comparison

	2026 (YTD)	2025
IYRI NEOS Real Estate High Income ETF	4.71%	6.99%
MAXI Simplify Bitcoin Strategy PLUS Income ETF	-35.86%	-29.67%

Correlation

The correlation between IYRI and MAXI is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025	0.20

Return for Risk

IYRI vs. MAXI — Risk / Return Rank

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

IYRI

IYRI Risk / Return Rank: 23
IYRI Sharpe Ratio Rank: 22
IYRI Sortino Ratio Rank: 20
IYRI Omega Ratio Rank: 21
IYRI Calmar Ratio Rank: 23
IYRI Martin Ratio Rank: 28

MAXI

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

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.

IYRI vs. MAXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Real Estate High Income ETF (IYRI) 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.

	IYRI	MAXI	Difference
Sharpe ratio: Return per unit of total volatility	0.74	-0.90	+1.64
Sortino ratio: Return per unit of downside risk	1.08	-1.37	+2.45
Omega ratio: Gain probability vs. loss probability	1.14	0.85	+0.29
Calmar ratio: Return relative to maximum drawdown	1.06	-0.85	+1.90
Martin ratio: Return relative to average drawdown	3.78	-1.30	+5.08

IYRI vs. MAXI - Sharpe Ratio Comparison

The current IYRI Sharpe Ratio is 0.74, which is higher than the MAXI Sharpe Ratio of -0.90. The chart below compares the historical Sharpe Ratios of IYRI 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

IYRI vs. MAXI - Drawdown Comparison

The maximum IYRI drawdown since its inception was -12.12%, smaller than the maximum MAXI drawdown of -68.91%. Use the drawdown chart below to compare losses from any high point for IYRI and MAXI.

Drawdown Indicators

	IYRI	MAXI	Difference
Max Drawdown Largest peak-to-trough decline	-12.12%	-68.91%	+56.79%
Max Drawdown (1Y) Largest decline over 1 year	-7.53%	-68.91%	+61.38%
Max Drawdown (3Y) Largest decline over 3 years	—	-68.91%	—
Current Drawdown Current decline from peak	-2.72%	-67.49%	+64.77%
Average Drawdown Average peak-to-trough decline	-1.69%	-19.30%	+17.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	44.94%	-42.84%

Volatility

IYRI vs. MAXI - Volatility Comparison

The current volatility for NEOS Real Estate High Income ETF (IYRI) is 4.02%, while Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a volatility of 12.91%. This indicates that IYRI 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

	IYRI	MAXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.02%	12.91%	-8.89%
Volatility (6M) Calculated over the trailing 6-month period	7.82%	44.45%	-36.63%
Volatility (1Y) Calculated over the trailing 1-year period	10.69%	65.18%	-54.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.18%	63.64%	-50.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.18%	63.64%	-50.46%

IYRI vs. MAXI - Expense Ratio Comparison

IYRI has a 0.68% expense ratio, which is lower than MAXI's 1.31% expense ratio.

Dividends

IYRI vs. MAXI - Dividend Comparison

IYRI's dividend yield for the trailing twelve months is around 12.23%, less than MAXI's 68.81% yield.

Position	TTM	2025	2024	2023	2022
IYRI NEOS Real Estate High Income ETF	12.23%	11.72%	0.00%	0.00%	0.00%
MAXI Simplify Bitcoin Strategy PLUS Income ETF	68.81%	49.00%	32.06%	29.63%	4.43%

Frequently Asked Questions

Can I hold both IYRI and MAXI in my portfolio?

IYRI and MAXI have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IYRI or MAXI?

MAXI has higher volatility (12.91%) compared to IYRI (4.02%). In terms of maximum drawdown, IYRI dropped -12.12% vs MAXI's -68.91%.

Which ETF is better, IYRI or MAXI?

On 1-year performance, IYRI leads with 8.01% vs -57.63% for MAXI. On fees, IYRI is cheaper at 0.68% per year. On volatility, IYRI has been the lower-risk option at 4.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IYRI or MAXI?

Over the 1-year period, IYRI has performed better with a 8.01% return vs -57.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IYRI or MAXI?

IYRI is cheaper with a 0.68% expense ratio, compared with 1.31% for MAXI.

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

MAXI has the higher dividend yield at 68.81%, compared with 12.23% for IYRI.

What is the main difference between IYRI and MAXI?

IYRI is categorized as Derivative Income, while MAXI is Cryptocurrency. They also come from different issuers: Neos and Simplify. Their fees differ too: 0.68% for IYRI and 1.31% for MAXI.

Which has better risk-adjusted returns?

IYRI currently has the higher Sharpe Ratio (0.74 vs -0.90), 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.