MAXI vs. CTA
MAXI (Simplify Bitcoin Strategy PLUS Income ETF) and CTA (Simplify Managed Futures Strategy ETF) are both exchange-traded funds - MAXI is a Cryptocurrency fund actively managed by Simplify, while CTA is a Systematic Trend fund actively managed by Simplify. Both are actively managed. Over the past 3 years, MAXI returned 8.73%/yr vs 6.11%/yr for CTA. Their 0.03 correlation means their historical movements had little consistent relationship. MAXI charges 1.31%/yr vs 0.78%/yr for CTA.
Performance
MAXI vs. CTA - 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 CTA's -3.47% 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%
CTA
- 1D
- -2.97%
- 1M
- -0.45%
- 6M
- -6.52%
- YTD
- -3.47%
- 1Y
- 1.28%
- 3Y*
- 6.11%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.92%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $12.34M | $12.46M | $14.52M | |
| $97.38K | $101.93K | $219.12K |
MAXI vs. CTA - 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% |
CTA Simplify Managed Futures Strategy ETF | -3.47% | 0.88% | 24.15% | -2.23% | -6.13% |
Correlation
The correlation between MAXI and CTA is -0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.02 |
Correlation (3Y) Balances recent behavior with more history. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022 | 0.03 |
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Return for Risk
MAXI vs. CTA — Risk / Return Rank
MAXI
CTA
MAXI vs. CTA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and Simplify Managed Futures Strategy ETF (CTA). 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 | CTA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -1.83 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.03 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | 0.06 | -0.96 |
| Martin ratioReturn relative to average drawdown | -1.24 | 0.16 | -1.40 |
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Drawdowns
MAXI vs. CTA - Drawdown Comparison
The maximum MAXI drawdown since its inception was -69.56%, which is greater than CTA's maximum drawdown of -20.80%. Use the drawdown chart below to compare losses from any high point for MAXI and CTA.
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Drawdown Indicators
| MAXI | CTA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.56% | -20.80% | -48.76% |
Max Drawdown (1Y)Largest decline over 1 year | -69.56% | -20.80% | -48.76% |
Max Drawdown (3Y)Largest decline over 3 years | -69.56% | -20.80% | -48.76% |
Current DrawdownCurrent decline from peak | -66.74% | -20.80% | -45.94% |
Average DrawdownAverage peak-to-trough decline | -20.83% | -6.08% | -14.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.66% | 7.80% | +42.86% |
Volatility
MAXI vs. CTA - Volatility Comparison
Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a higher volatility of 15.33% compared to Simplify Managed Futures Strategy ETF (CTA) at 9.54%. This indicates that MAXI's price experiences larger fluctuations and is considered to be riskier than CTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAXI | CTA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.33% | 9.54% | +5.79% |
Volatility (6M)Calculated over the trailing 6-month period | 43.22% | 19.28% | +23.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.92% | 21.83% | +43.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.23% | 17.04% | +46.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.23% | 17.04% | +46.19% |
MAXI vs. CTA - Expense Ratio Comparison
MAXI has a 1.31% expense ratio, which is higher than CTA's 0.78% expense ratio.
Dividends
MAXI vs. CTA - Dividend Comparison
MAXI's dividend yield for the trailing twelve months is around 54.40%, more than CTA's 5.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CTA Simplify Managed Futures Strategy ETF | 5.74% | 3.19% | 4.80% | 7.78% | 6.58% |
MAXI Simplify Bitcoin Strategy PLUS Income ETF | 54.40% | 49.00% | 32.06% | 29.63% | 4.43% |
Frequently Asked Questions
MAXI and CTA have a correlation of -0.01, 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 CTA (9.54%). In terms of maximum drawdown, MAXI dropped -69.56% vs CTA's -20.80%.
On 3-year performance, MAXI leads with 8.73% vs 6.11% for CTA. On fees, CTA is cheaper at 0.78% per year. On volatility, CTA has been the lower-risk option at 9.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, MAXI has performed better with a 8.73% return vs 6.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CTA is cheaper with a 0.78% expense ratio, compared with 1.31% for MAXI.
MAXI has the higher dividend yield at 54.40%, compared with 5.74% for CTA.
MAXI is categorized as Cryptocurrency, while CTA is Systematic Trend. Their fees differ too: 1.31% for MAXI and 0.78% for CTA.
CTA currently has the higher Sharpe Ratio (0.06 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.
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