MAXI vs. BITS

Last updated Jul 16, 2026

MAXI (Simplify Bitcoin Strategy PLUS Income ETF) and BITS (Global X Blockchain & Bitcoin Strategy ETF) are both Cryptocurrency funds. MAXI is actively managed, while BITS is passively managed. Over the past 3 years, MAXI returned 8.54%/yr vs 30.18%/yr for BITS. Their correlation of 0.87 suggests significant overlap in exposure. MAXI charges 1.31%/yr vs 0.65%/yr for BITS.

Performance

MAXI vs. BITS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and Global X Blockchain & Bitcoin Strategy ETF (BITS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAXI achieves a -31.58% return, which is significantly lower than BITS's -7.88% return.

MAXI

• 1D: 0.61%
• 1M: 1.35%
• 6M: -41.43%
• YTD: -31.58%
• 1Y: -62.64%
• 3Y*: 8.54%
• 5Y*: —
• 10Y*: —

BITS

• 1D: 1.15%
• 1M: -11.58%
• 6M: -22.72%
• YTD: -7.88%
• 1Y: -11.28%
• 3Y*: 30.18%
• 5Y*: —
• 10Y*: —

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

MAXI vs. BITS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MAXI Simplify Bitcoin Strategy PLUS Income ETF	-31.58%	-28.59%	92.92%	144.12%	-13.34%
BITS Global X Blockchain & Bitcoin Strategy ETF	-7.88%	14.90%	61.84%	212.23%	-28.61%

Correlation

The correlation between MAXI and BITS is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022	0.87

The correlation between MAXI and BITS has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.

Return for Risk

MAXI vs. BITS — Risk / Return Rank

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

MAXI

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

BITS

BITS Risk / Return Rank: 8
BITS Sharpe Ratio Rank: 7
BITS Sortino Ratio Rank: 8
BITS Omega Ratio Rank: 8
BITS Calmar Ratio Rank: 7
BITS Martin Ratio Rank: 7

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.

MAXI vs. BITS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and Global X Blockchain & Bitcoin Strategy ETF (BITS). 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	BITS	Difference
Sharpe ratio: Return per unit of total volatility	-0.97	-0.21	-0.76
Sortino ratio: Return per unit of downside risk	-1.62	0.06	-1.68
Omega ratio: Gain probability vs. loss probability	0.82	1.01	-0.18
Calmar ratio: Return relative to maximum drawdown	-0.90	-0.23	-0.67
Martin ratio: Return relative to average drawdown	-1.30	-0.40	-0.90

MAXI vs. BITS - Sharpe Ratio Comparison

The current MAXI Sharpe Ratio is -0.97, which is lower than the BITS Sharpe Ratio of -0.21. The chart below compares the historical Sharpe Ratios of MAXI and BITS, 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

MAXI vs. BITS - Drawdown Comparison

The maximum MAXI drawdown since its inception was -69.56%, smaller than the maximum BITS drawdown of -83.11%. Use the drawdown chart below to compare losses from any high point for MAXI and BITS.

Drawdown Indicators

	MAXI	BITS	Difference
Max Drawdown Largest peak-to-trough decline	-69.56%	-83.11%	+13.55%
Max Drawdown (1Y) Largest decline over 1 year	-69.56%	-48.38%	-21.18%
Max Drawdown (3Y) Largest decline over 3 years	-69.56%	-48.38%	-21.18%
Current Drawdown Current decline from peak	-65.32%	-39.35%	-25.97%
Average Drawdown Average peak-to-trough decline	-20.16%	-42.59%	+22.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	48.22%	28.51%	+19.71%

Volatility

MAXI vs. BITS - Volatility Comparison

Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a higher volatility of 15.12% compared to Global X Blockchain & Bitcoin Strategy ETF (BITS) at 11.52%. This indicates that MAXI's price experiences larger fluctuations and is considered to be riskier than BITS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAXI	BITS	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.12%	11.52%	+3.60%
Volatility (6M) Calculated over the trailing 6-month period	44.98%	40.41%	+4.57%
Volatility (1Y) Calculated over the trailing 1-year period	64.88%	53.21%	+11.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.47%	60.64%	+2.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.47%	60.64%	+2.83%

MAXI vs. BITS - Expense Ratio Comparison

MAXI has a 1.31% expense ratio, which is higher than BITS's 0.65% expense ratio.

Dividends

MAXI vs. BITS - Dividend Comparison

MAXI's dividend yield for the trailing twelve months is around 62.26%, more than BITS's 24.70% yield.

Position	TTM	2025	2024	2023	2022	2021
BITS Global X Blockchain & Bitcoin Strategy ETF	24.70%	22.80%	29.49%	13.69%	0.48%	1.90%
MAXI Simplify Bitcoin Strategy PLUS Income ETF	62.26%	49.00%	32.06%	29.63%	4.43%	0.00%

Frequently Asked Questions

Can I hold both MAXI and BITS in my portfolio?

MAXI and BITS have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAXI or BITS?

MAXI has higher volatility (15.12%) compared to BITS (11.52%). In terms of maximum drawdown, MAXI dropped -69.56% vs BITS's -83.11%.

Which ETF is better, MAXI or BITS?

On 3-year performance, BITS leads with 30.18% vs 8.54% for MAXI. On fees, BITS is cheaper at 0.65% per year. On volatility, BITS has been the lower-risk option at 11.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAXI or BITS?

Over the 3-year period, BITS has performed better with a 30.18% return vs 8.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAXI or BITS?

BITS is cheaper with a 0.65% expense ratio, compared with 1.31% for MAXI.

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

MAXI has the higher dividend yield at 62.26%, compared with 24.70% for BITS.

What is the main difference between MAXI and BITS?

They also come from different issuers: Simplify and Global X. Their fees differ too: 1.31% for MAXI and 0.65% for BITS.

Which has better risk-adjusted returns?

BITS currently has the higher Sharpe Ratio (-0.21 vs -0.97), 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.