MAXI vs. BFJL
MAXI (Simplify Bitcoin Strategy PLUS Income ETF) and BFJL (FT Vest Bitcoin Strategy Floor15 ETF - July) are both exchange-traded funds - MAXI is a Cryptocurrency fund actively managed by Simplify, while BFJL is a Defined Outcome fund tracking the iShares Bitcoin Trust ETF (IBIT). MAXI is actively managed, while BFJL is passively managed. Over the past year, MAXI returned -62.54% vs -14.44% for BFJL. Their correlation of 0.90 means they have usually moved in the same direction. MAXI charges 1.31%/yr vs 0.90%/yr for BFJL.
Performance
MAXI vs. BFJL - Performance Comparison
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Returns By Period
In the year-to-date period, MAXI achieves a -34.40% return, which is significantly lower than BFJL's -4.36% return.
MAXI
- 1D
- 1.17%
- 1M
- 3.34%
- 6M
- -22.59%
- YTD
- -34.40%
- 1Y
- -62.54%
- 3Y*
- 8.73%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 18.37%
BFJL
- 1D
- 0.17%
- 1M
- 2.15%
- 6M
- 0.07%
- YTD
- -4.36%
- 1Y
- -14.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -10.55%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.78K | $8.05K | $4.98K | |
| $97.38K | $101.93K | $219.12K |
MAXI vs. BFJL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MAXI Simplify Bitcoin Strategy PLUS Income ETF | -34.40% | -39.73% |
BFJL FT Vest Bitcoin Strategy Floor15 ETF - July | -4.36% | -7.43% |
Correlation
The correlation between MAXI and BFJL is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025 | 0.90 |
The correlation between MAXI and BFJL has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.
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Return for Risk
MAXI vs. BFJL — Risk / Return Rank
MAXI
BFJL
MAXI vs. BFJL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and FT Vest Bitcoin Strategy Floor15 ETF - July (BFJL). 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.
| MAXI | BFJL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.82 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | -0.68 | -0.22 |
| Martin ratioReturn relative to average drawdown | -1.24 | -0.91 | -0.32 |
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Drawdowns
MAXI vs. BFJL - Drawdown Comparison
The maximum MAXI drawdown since its inception was -69.56%, which is greater than BFJL's maximum drawdown of -21.27%. Use the drawdown chart below to compare losses from any high point for MAXI and BFJL.
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Drawdown Indicators
| MAXI | BFJL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.56% | -21.27% | -48.29% |
Max Drawdown (1Y)Largest decline over 1 year | -69.56% | -21.27% | -48.29% |
Max Drawdown (3Y)Largest decline over 3 years | -69.56% | — | — |
Current DrawdownCurrent decline from peak | -66.74% | -18.37% | -48.37% |
Average DrawdownAverage peak-to-trough decline | -20.83% | -12.94% | -7.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.66% | 15.83% | +34.83% |
Volatility
MAXI vs. BFJL - Volatility Comparison
Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a higher volatility of 15.33% compared to FT Vest Bitcoin Strategy Floor15 ETF - July (BFJL) at 3.38%. This indicates that MAXI's price experiences larger fluctuations and is considered to be riskier than BFJL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAXI | BFJL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.33% | 3.38% | +11.95% |
Volatility (6M)Calculated over the trailing 6-month period | 43.22% | 5.11% | +38.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.92% | 13.19% | +51.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.23% | 13.13% | +50.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.23% | 13.13% | +50.10% |
MAXI vs. BFJL - Expense Ratio Comparison
MAXI has a 1.31% expense ratio, which is higher than BFJL's 0.90% expense ratio.
Dividends
MAXI vs. BFJL - Dividend Comparison
MAXI's dividend yield for the trailing twelve months is around 54.40%, more than BFJL's 1.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
BFJL FT Vest Bitcoin Strategy Floor15 ETF - July | 1.41% | 1.35% | 0.00% | 0.00% | 0.00% |
MAXI Simplify Bitcoin Strategy PLUS Income ETF | 54.40% | 49.00% | 32.06% | 29.63% | 4.43% |
Frequently Asked Questions
With a correlation of 0.91, MAXI and BFJL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
MAXI has higher volatility (15.33%) compared to BFJL (3.38%). In terms of maximum drawdown, MAXI dropped -69.56% vs BFJL's -21.27%.
On 1-year performance, BFJL leads with -14.44% vs -62.54% for MAXI. On fees, BFJL is cheaper at 0.90% per year. On volatility, BFJL has been the lower-risk option at 3.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BFJL has performed better with a -14.44% return vs -62.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BFJL is cheaper with a 0.90% expense ratio, compared with 1.31% for MAXI.
MAXI has the higher dividend yield at 54.40%, compared with 1.41% for BFJL.
MAXI is categorized as Cryptocurrency, while BFJL is Defined Outcome. They also come from different issuers: Simplify and First Trust. Their fees differ too: 1.31% for MAXI and 0.90% for BFJL.
MAXI currently has the higher Sharpe Ratio (-0.97 vs -1.10), 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.
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