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 8.37%/yr vs 31.02%/yr for BTC-USD. A 0.71 correlation means they provide meaningful diversification when combined.
Performance
MAXI vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, MAXI achieves a -38.67% return, which is significantly lower than BTC-USD's -29.97% return.
MAXI
- 1D
- -5.43%
- 1M
- -29.33%
- YTD
- -38.67%
- 6M
- -43.67%
- 1Y
- -60.73%
- 3Y*
- 8.37%
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- -3.97%
- 1M
- -24.76%
- YTD
- -29.97%
- 6M
- -31.42%
- 1Y
- -39.67%
- 3Y*
- 31.02%
- 5Y*
- 11.35%
- 10Y*
- 59.37%
MAXI vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MAXI Simplify Bitcoin Strategy PLUS Income ETF | -38.67% | -28.59% | 92.92% | 144.12% | -13.34% |
BTC-USD Bitcoin | -29.97% | -6.27% | 120.76% | 155.82% | -14.91% |
Correlation
The correlation between MAXI and BTC-USD is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 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.
| MAXI | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.87 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | -0.78 | -0.10 |
| Martin ratioReturn relative to average drawdown | -1.41 | -1.39 | -0.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MAXI | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.93 | -0.93 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.21 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 1.13 | -0.86 |
Drawdowns
MAXI vs. BTC-USD - Drawdown Comparison
The maximum MAXI drawdown since its inception was -68.91%, 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 | -68.91% | -85.30% | +16.39% |
Max Drawdown (1Y)Largest decline over 1 year | -68.91% | -50.87% | -18.04% |
Max Drawdown (3Y)Largest decline over 3 years | -68.91% | -50.87% | -18.04% |
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 | -68.91% | -50.87% | -18.04% |
Average DrawdownAverage peak-to-trough decline | -18.85% | -42.29% | +23.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 43.18% | 34.02% | +9.16% |
Volatility
MAXI vs. BTC-USD - Volatility Comparison
Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a higher volatility of 11.72% compared to Bitcoin (BTC-USD) at 10.54%. 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 | 11.72% | 10.54% | +1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 44.92% | 34.26% | +10.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.91% | 35.65% | +30.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.83% | 44.98% | +18.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.83% | 56.70% | +7.13% |
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 (11.72%) compared to BTC-USD (10.54%). In terms of maximum drawdown, MAXI dropped -68.91% vs BTC-USD's -85.30%.
BTC-USD currently has the higher Sharpe Ratio (-0.93 vs -0.93), 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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