LITL vs. MAXI

Last updated Jul 21, 2026

LITL (Simplify Piper Sandler US Small-Cap PLUS Income ETF) and MAXI (Simplify Bitcoin Strategy PLUS Income ETF) are both exchange-traded funds - LITL is a Small Cap Blend Equities fund managed by Simplify, while MAXI is a Cryptocurrency fund actively managed by Simplify. Over the past year, LITL returned 27.83% vs -63.13% for MAXI. At a 0.50 correlation, their price movements are largely independent. LITL charges 0.91%/yr vs 1.31%/yr for MAXI.

Performance

LITL vs. MAXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Piper Sandler US Small-Cap PLUS Income ETF (LITL) 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, LITL achieves a 16.34% return, which is significantly higher than MAXI's -31.59% return.

LITL

• 1D: -0.99%
• 1M: 3.67%
• 6M: 12.34%
• YTD: 16.34%
• 1Y: 27.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 30.38%

MAXI

• 1D: 2.51%
• 1M: 6.66%
• 6M: -39.33%
• YTD: -31.59%
• 1Y: -63.13%
• 3Y*: 8.87%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.90%

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

LITL vs. MAXI - Yearly Performance Comparison

	2026 (YTD)	2025
LITL Simplify Piper Sandler US Small-Cap PLUS Income ETF	16.34%	18.93%
MAXI Simplify Bitcoin Strategy PLUS Income ETF	-31.59%	-28.32%

Correlation

The correlation between LITL and MAXI is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025	0.50

Return for Risk

LITL vs. MAXI — Risk / Return Rank

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

LITL

LITL Risk / Return Rank: 68
LITL Sharpe Ratio Rank: 64
LITL Sortino Ratio Rank: 68
LITL Omega Ratio Rank: 60
LITL Calmar Ratio Rank: 78
LITL Martin Ratio Rank: 70

MAXI

MAXI Risk / Return Rank: 2
MAXI Sharpe Ratio Rank: 2
MAXI Sortino Ratio Rank: 1
MAXI Omega Ratio Rank: 1
MAXI Calmar Ratio Rank: 1
MAXI Martin Ratio Rank: 3

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.

LITL vs. MAXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Piper Sandler US Small-Cap PLUS Income ETF (LITL) 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.

	LITL	MAXI	Difference
Sharpe ratio: Return per unit of total volatility	1.54	-0.98	+2.52
Sortino ratio: Return per unit of downside risk	2.31	-1.65	+3.97
Omega ratio: Gain probability vs. loss probability	1.27	0.82	+0.45
Calmar ratio: Return relative to maximum drawdown	3.00	-0.91	+3.91
Martin ratio: Return relative to average drawdown	9.22	-1.30	+10.52

LITL vs. MAXI - Sharpe Ratio Comparison

The current LITL Sharpe Ratio is 1.54, which is higher than the MAXI Sharpe Ratio of -0.98. The chart below compares the historical Sharpe Ratios of LITL 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

LITL vs. MAXI - Drawdown Comparison

The maximum LITL drawdown since its inception was -9.32%, smaller than the maximum MAXI drawdown of -69.56%. Use the drawdown chart below to compare losses from any high point for LITL and MAXI.

Drawdown Indicators

	LITL	MAXI	Difference
Max Drawdown Largest peak-to-trough decline	-9.32%	-69.56%	+60.24%
Max Drawdown (1Y) Largest decline over 1 year	-9.32%	-69.56%	+60.24%
Max Drawdown (3Y) Largest decline over 3 years	—	-69.56%	—
Current Drawdown Current decline from peak	-1.87%	-65.32%	+63.45%
Average Drawdown Average peak-to-trough decline	-2.23%	-20.31%	+18.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	48.75%	-45.72%

Volatility

LITL vs. MAXI - Volatility Comparison

The current volatility for Simplify Piper Sandler US Small-Cap PLUS Income ETF (LITL) is 3.45%, while Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a volatility of 14.74%. This indicates that LITL 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

	LITL	MAXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	14.74%	-11.29%
Volatility (6M) Calculated over the trailing 6-month period	12.37%	44.51%	-32.14%
Volatility (1Y) Calculated over the trailing 1-year period	18.18%	64.55%	-46.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.42%	63.40%	-44.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.42%	63.40%	-44.98%

LITL vs. MAXI - Expense Ratio Comparison

LITL has a 0.91% expense ratio, which is lower than MAXI's 1.31% expense ratio.

Dividends

LITL vs. MAXI - Dividend Comparison

LITL's dividend yield for the trailing twelve months is around 1.50%, less than MAXI's 62.27% yield.

Position	TTM	2025	2024	2023	2022
LITL Simplify Piper Sandler US Small-Cap PLUS Income ETF	1.50%	0.71%	0.00%	0.00%	0.00%
MAXI Simplify Bitcoin Strategy PLUS Income ETF	62.27%	49.00%	32.06%	29.63%	4.43%

Frequently Asked Questions

Can I hold both LITL and MAXI in my portfolio?

LITL and MAXI have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LITL or MAXI?

MAXI has higher volatility (14.74%) compared to LITL (3.45%). In terms of maximum drawdown, LITL dropped -9.32% vs MAXI's -69.56%.

Which ETF is better, LITL or MAXI?

On 1-year performance, LITL leads with 27.83% vs -63.13% for MAXI. On fees, LITL is cheaper at 0.91% per year. On volatility, LITL has been the lower-risk option at 3.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LITL or MAXI?

Over the 1-year period, LITL has performed better with a 27.83% return vs -63.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LITL or MAXI?

LITL is cheaper with a 0.91% expense ratio, compared with 1.31% for MAXI.

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

MAXI has the higher dividend yield at 62.27%, compared with 1.50% for LITL.

What is the main difference between LITL and MAXI?

LITL is categorized as Small Cap Blend Equities, while MAXI is Cryptocurrency. Their fees differ too: 0.91% for LITL and 1.31% for MAXI.

Which has better risk-adjusted returns?

LITL currently has the higher Sharpe Ratio (1.54 vs -0.98), 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.