MAXI vs. BTC-USD
MAXI (Simplify Bitcoin Strategy PLUS Income ETF) is Cryptocurrency fund actively managed by Simplify, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 3 years, MAXI returned 8.73%/yr vs 30.09%/yr for BTC-USD. Their 0.71 correlation means they have sometimes moved together and sometimes differently.
Performance
MAXI vs. BTC-USD - 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 BTC-USD's -26.92% 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%
BTC-USD
- 1D
- 0.76%
- 1M
- 0.58%
- 6M
- -15.48%
- YTD
- -26.92%
- 1Y
- -44.42%
- 3Y*
- 30.09%
- 5Y*
- 9.36%
- 10Y*
- 59.72%
- ALL TIME*
- 87.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BTC-USD Bitcoin | $1506.18T | $1625.47T | $2048.00T |
| $97.38K | $101.93K | $219.12K |
MAXI vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MAXI Simplify Bitcoin Strategy PLUS Income ETF | -34.40% | -28.59% | 92.92% | 144.12% | -13.34% |
BTC-USD Bitcoin | -26.92% | -6.27% | 120.76% | 155.82% | -15.64% |
Correlation
The correlation between MAXI and BTC-USD is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.72 |
Correlation (3Y) Balances recent behavior with more history. | 0.71 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022 | 0.71 |
The correlation between MAXI and BTC-USD has been stable across timeframes, ranging from 0.71 to 0.72 - a consistent structural relationship.
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Return for Risk
MAXI vs. BTC-USD — Risk / Return Rank
MAXI
BTC-USD
MAXI vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and Bitcoin (BTC-USD). 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 | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.85 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | -0.84 | -0.06 |
| Martin ratioReturn relative to average drawdown | -1.24 | -1.28 | +0.04 |
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Drawdowns
MAXI vs. BTC-USD - Drawdown Comparison
The maximum MAXI drawdown since its inception was -69.56%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for MAXI and BTC-USD.
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Drawdown Indicators
| MAXI | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.56% | -85.30% | +15.74% |
Max Drawdown (1Y)Largest decline over 1 year | -69.56% | -53.08% | -16.48% |
Max Drawdown (3Y)Largest decline over 3 years | -69.56% | -53.08% | -16.48% |
Max Drawdown (5Y)Largest decline over 5 years | — | -76.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -83.80% | — |
Current DrawdownCurrent decline from peak | -66.74% | -48.73% | -18.01% |
Average DrawdownAverage peak-to-trough decline | -20.83% | -42.75% | +21.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.66% | 25.12% | +25.54% |
Volatility
MAXI vs. BTC-USD - Volatility Comparison
Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a higher volatility of 15.33% compared to Bitcoin (BTC-USD) at 8.45%. This indicates that MAXI's price experiences larger fluctuations and is considered to be riskier than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAXI | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.33% | 8.45% | +6.88% |
Volatility (6M)Calculated over the trailing 6-month period | 43.22% | 33.45% | +9.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.92% | 35.85% | +29.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.23% | 43.62% | +19.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.23% | 56.22% | +7.01% |
Frequently Asked Questions
MAXI and BTC-USD have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MAXI has higher volatility (15.33%) compared to BTC-USD (8.45%). In terms of maximum drawdown, MAXI dropped -69.56% vs BTC-USD's -85.30%.
MAXI currently has the higher Sharpe Ratio (-0.97 vs -1.03), 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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