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 8.54%/yr vs 28.74%/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 -31.58% return, which is significantly lower than BTC-USD's -26.24% return.
MAXI
- 1D
- 0.61%
- 1M
- 1.35%
- 6M
- -41.43%
- YTD
- -31.58%
- 1Y
- -62.64%
- 3Y*
- 8.54%
- 5Y*
- —
- 10Y*
- —
BTC-USD
- 1D
- -0.69%
- 1M
- -2.62%
- 6M
- -33.43%
- YTD
- -26.24%
- 1Y
- -45.20%
- 3Y*
- 28.74%
- 5Y*
- 15.51%
- 10Y*
- 57.66%
MAXI vs. BTC-USD - 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% |
BTC-USD Bitcoin | -26.24% | -6.27% | 120.76% | 155.82% | -15.64% |
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 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 | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.84 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | -0.85 | -0.05 |
| Martin ratioReturn relative to average drawdown | -1.30 | -1.38 | +0.08 |
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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 | -65.32% | -48.25% | -17.07% |
Average DrawdownAverage peak-to-trough decline | -20.16% | -42.57% | +22.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 48.22% | 29.20% | +19.02% |
Volatility
MAXI vs. BTC-USD - Volatility Comparison
Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a higher volatility of 15.12% compared to Bitcoin (BTC-USD) at 9.75%. 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 | 15.12% | 9.75% | +5.37% |
Volatility (6M)Calculated over the trailing 6-month period | 44.98% | 34.90% | +10.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.88% | 35.75% | +29.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.47% | 43.96% | +19.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.47% | 56.34% | +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 (15.12%) compared to BTC-USD (9.75%). 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 -1.05), 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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