MAXI vs. CSHP
MAXI (Simplify Bitcoin Strategy PLUS Income ETF) and CSHP (iShares Enhanced Short-Term Bond Active ETF) are both exchange-traded funds - MAXI is a Cryptocurrency fund actively managed by Simplify, while CSHP is a Ultrashort Bond fund actively managed by iShares. Both are actively managed. Over the past year, MAXI returned -61.42% vs 3.89% for CSHP. At a 0.07 correlation, their price movements are largely independent. MAXI charges 1.31%/yr vs 0.20%/yr for CSHP.
Performance
MAXI vs. CSHP - Performance Comparison
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Returns By Period
In the year-to-date period, MAXI achieves a -38.72% return, which is significantly lower than CSHP's 1.79% return.
MAXI
- 1D
- -3.44%
- 1M
- -21.00%
- YTD
- -38.72%
- 6M
- -40.27%
- 1Y
- -61.42%
- 3Y*
- 3.33%
- 5Y*
- —
- 10Y*
- —
CSHP
- 1D
- -0.04%
- 1M
- 0.23%
- YTD
- 1.79%
- 6M
- 1.85%
- 1Y
- 3.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MAXI vs. CSHP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MAXI Simplify Bitcoin Strategy PLUS Income ETF | -38.72% | -28.59% | 31.52% |
CSHP iShares Enhanced Short-Term Bond Active ETF | 1.79% | 4.10% | 2.24% |
Correlation
The correlation between MAXI and CSHP is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2024 | 0.07 |
The correlation between MAXI and CSHP shifts across timeframes, from -0.09 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MAXI vs. CSHP — Risk / Return Rank
MAXI
CSHP
MAXI vs. CSHP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and iShares Enhanced Short-Term Bond Active ETF (CSHP). 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 | CSHP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -11.75 | ||
| Sortino ratioReturn per unit of downside risk | -27.70 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 6.09 | -5.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 48.60 | -49.49 |
| Martin ratioReturn relative to average drawdown | -1.35 | 338.28 | -339.63 |
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Drawdowns
MAXI vs. CSHP - Drawdown Comparison
The maximum MAXI drawdown since its inception was -68.93%, which is greater than CSHP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for MAXI and CSHP.
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Drawdown Indicators
| MAXI | CSHP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.93% | -0.08% | -68.85% |
Max Drawdown (1Y)Largest decline over 1 year | -68.93% | -0.08% | -68.85% |
Max Drawdown (3Y)Largest decline over 3 years | -68.93% | — | — |
Current DrawdownCurrent decline from peak | -68.93% | -0.08% | -68.85% |
Average DrawdownAverage peak-to-trough decline | -19.45% | -0.00% | -19.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.55% | 0.01% | +45.54% |
Volatility
MAXI vs. CSHP - Volatility Comparison
Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a higher volatility of 13.02% compared to iShares Enhanced Short-Term Bond Active ETF (CSHP) at 0.16%. This indicates that MAXI's price experiences larger fluctuations and is considered to be riskier than CSHP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAXI | CSHP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.02% | 0.16% | +12.86% |
Volatility (6M)Calculated over the trailing 6-month period | 44.09% | 0.27% | +43.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.22% | 0.36% | +64.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.57% | 0.41% | +63.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.57% | 0.41% | +63.16% |
MAXI vs. CSHP - Expense Ratio Comparison
MAXI has a 1.31% expense ratio, which is higher than CSHP's 0.20% expense ratio.
Dividends
MAXI vs. CSHP - Dividend Comparison
MAXI's dividend yield for the trailing twelve months is around 72.02%, more than CSHP's 3.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CSHP iShares Enhanced Short-Term Bond Active ETF | 3.92% | 5.39% | 1.96% | 0.00% | 0.00% |
MAXI Simplify Bitcoin Strategy PLUS Income ETF | 72.02% | 49.00% | 32.06% | 29.63% | 4.43% |
Frequently Asked Questions
MAXI and CSHP have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MAXI has higher volatility (13.02%) compared to CSHP (0.16%). In terms of maximum drawdown, MAXI dropped -68.93% vs CSHP's -0.08%.
On 1-year performance, CSHP leads with 3.89% vs -61.42% for MAXI. On fees, CSHP is cheaper at 0.20% per year. On volatility, CSHP has been the lower-risk option at 0.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CSHP has performed better with a 3.89% return vs -61.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CSHP is cheaper with a 0.20% expense ratio, compared with 1.31% for MAXI.
MAXI has the higher dividend yield at 72.02%, compared with 3.92% for CSHP.
MAXI is categorized as Cryptocurrency, while CSHP is Ultrashort Bond. They also come from different issuers: Simplify and iShares. Their fees differ too: 1.31% for MAXI and 0.20% for CSHP.
CSHP currently has the higher Sharpe Ratio (10.81 vs -0.95), 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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