MAXI vs. IBIT

Last updated Jun 23, 2026

MAXI (Simplify Bitcoin Strategy PLUS Income ETF) and IBIT (iShares Bitcoin Trust ETF) are both Cryptocurrency funds. MAXI is actively managed, while IBIT is passively managed. Over the past year, MAXI returned -57.20% vs -37.79% for IBIT. With a 0.95 correlation, they move nearly in lockstep. MAXI charges 1.31%/yr vs 0.25%/yr for IBIT.

Performance

MAXI vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and iShares Bitcoin Trust ETF (IBIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAXI achieves a -35.22% return, which is significantly lower than IBIT's -26.49% return.

MAXI

• 1D: 1.01%
• 1M: -16.49%
• YTD: -35.22%
• 6M: -37.12%
• 1Y: -57.20%
• 3Y*: 5.26%
• 5Y*: —
• 10Y*: —

IBIT

• 1D: 2.47%
• 1M: -15.04%
• YTD: -26.49%
• 6M: -27.13%
• 1Y: -37.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MAXI vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MAXI Simplify Bitcoin Strategy PLUS Income ETF	-35.22%	-28.59%	77.97%
IBIT iShares Bitcoin Trust ETF	-26.49%	-6.41%	89.87%

Correlation

The correlation between MAXI and IBIT is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.95

The correlation between MAXI and IBIT has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.

Return for Risk

MAXI vs. IBIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MAXI

MAXI Risk / Return Rank: 2
MAXI Sharpe Ratio Rank: 2
MAXI Sortino Ratio Rank: 2
MAXI Omega Ratio Rank: 2
MAXI Calmar Ratio Rank: 2
MAXI Martin Ratio Rank: 2

IBIT

IBIT Risk / Return Rank: 3
IBIT Sharpe Ratio Rank: 2
IBIT Sortino Ratio Rank: 3
IBIT Omega Ratio Rank: 3
IBIT Calmar Ratio Rank: 3
IBIT Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MAXI vs. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and iShares Bitcoin Trust ETF (IBIT). 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	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	-0.88	-0.86	-0.02
Sortino ratio: Return per unit of downside risk	-1.32	-1.16	-0.16
Omega ratio: Gain probability vs. loss probability	0.85	0.87	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.83	-0.73	-0.10
Martin ratio: Return relative to average drawdown	-1.27	-1.24	-0.02

MAXI vs. IBIT - Sharpe Ratio Comparison

The current MAXI Sharpe Ratio is -0.88, which is comparable to the IBIT Sharpe Ratio of -0.86. The chart below compares the historical Sharpe Ratios of MAXI and IBIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MAXI vs. IBIT - Drawdown Comparison

The maximum MAXI drawdown since its inception was -68.91%, which is greater than IBIT's maximum drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for MAXI and IBIT.

Drawdown Indicators

	MAXI	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-68.91%	-52.11%	-16.80%
Max Drawdown (1Y) Largest decline over 1 year	-68.91%	-52.11%	-16.80%
Max Drawdown (3Y) Largest decline over 3 years	-68.91%	—	—
Current Drawdown Current decline from peak	-67.16%	-48.80%	-18.36%
Average Drawdown Average peak-to-trough decline	-19.35%	-16.79%	-2.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.14%	30.41%	+14.73%

Volatility

MAXI vs. IBIT - Volatility Comparison

Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and iShares Bitcoin Trust ETF (IBIT) have volatilities of 12.84% and 13.00%, 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.

Volatility by Period

	MAXI	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.84%	13.00%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	44.33%	34.53%	+9.80%
Volatility (1Y) Calculated over the trailing 1-year period	65.27%	44.29%	+20.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.60%	50.21%	+13.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.60%	50.21%	+13.39%

MAXI vs. IBIT - Expense Ratio Comparison

MAXI has a 1.31% expense ratio, which is higher than IBIT's 0.25% expense ratio.

Dividends

MAXI vs. IBIT - Dividend Comparison

MAXI's dividend yield for the trailing twelve months is around 68.13%, while IBIT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
IBIT iShares Bitcoin Trust ETF	0.00%	0.00%	0.00%	0.00%	0.00%
MAXI Simplify Bitcoin Strategy PLUS Income ETF	68.13%	49.00%	32.06%	29.63%	4.43%

Frequently Asked Questions

Can I hold both MAXI and IBIT in my portfolio?

With a correlation of 0.95, MAXI and IBIT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MAXI or IBIT?

IBIT has higher volatility (13.00%) compared to MAXI (12.84%). In terms of maximum drawdown, MAXI dropped -68.91% vs IBIT's -52.11%.

Which ETF is better, MAXI or IBIT?

On 1-year performance, IBIT leads with -37.79% vs -57.20% for MAXI. On fees, IBIT is cheaper at 0.25% per year. On volatility, MAXI has been the lower-risk option at 12.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAXI or IBIT?

Over the 1-year period, IBIT has performed better with a -37.79% return vs -57.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAXI or IBIT?

IBIT is cheaper with a 0.25% expense ratio, compared with 1.31% for MAXI.

Which ETF pays a higher dividend yield, MAXI or IBIT?

MAXI has the higher dividend yield at 68.13%, compared with 0.00% for IBIT.

What is the main difference between MAXI and IBIT?

They also come from different issuers: Simplify and iShares. Their fees differ too: 1.31% for MAXI and 0.25% for IBIT.

Which has better risk-adjusted returns?

IBIT currently has the higher Sharpe Ratio (-0.86 vs -0.88), 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.