MAXI vs. GBTC
Compare and contrast key facts about Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and Grayscale Bitcoin Trust (BTC) (GBTC).
MAXI is an actively managed fund by Simplify. It was launched on Sep 29, 2022.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MAXI or GBTC.
Key characteristics
| MAXI | GBTC | |
|---|---|---|
| YTD Return | 96.23% | 105.98% |
| 1Y Return | 132.93% | 160.07% |
| Sharpe Ratio | 2.04 | 2.45 |
| Sortino Ratio | 2.62 | 2.89 |
| Omega Ratio | 1.30 | 1.35 |
| Calmar Ratio | 3.52 | 2.82 |
| Martin Ratio | 8.15 | 9.41 |
| Ulcer Index | 14.90% | 15.45% |
| Daily Std Dev | 59.47% | 59.25% |
| Max Drawdown | -34.54% | -89.91% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between MAXI and GBTC is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
MAXI vs. GBTC - Performance Comparison
In the year-to-date period, MAXI achieves a 96.23% return, which is significantly lower than GBTC's 105.98% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
MAXI vs. GBTC - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and Grayscale Bitcoin Trust (BTC) (GBTC). 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.
Dividends
MAXI vs. GBTC - Dividend Comparison
MAXI's dividend yield for the trailing twelve months is around 30.10%, while GBTC has not paid dividends to shareholders.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
MAXI Simplify Bitcoin Strategy PLUS Income ETF | 30.10% | 29.63% | 4.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GBTC Grayscale Bitcoin Trust (BTC) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.23% |
Drawdowns
MAXI vs. GBTC - Drawdown Comparison
The maximum MAXI drawdown since its inception was -34.54%, smaller than the maximum GBTC drawdown of -89.91%. Use the drawdown chart below to compare losses from any high point for MAXI and GBTC. For additional features, visit the drawdowns tool.
Volatility
MAXI vs. GBTC - Volatility Comparison
Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and Grayscale Bitcoin Trust (BTC) (GBTC) have volatilities of 17.49% and 17.81%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.