MAXI vs. MQY

Last updated Jun 4, 2026

MAXI (Simplify Bitcoin Strategy PLUS Income ETF) and MQY (BlackRock MuniYield Quality Fund) are both funds - MAXI is a Cryptocurrency fund actively managed by Simplify, while MQY is a Municipal Bonds fund actively managed by BlackRock. Both are actively managed. Over the past 3 years, MAXI returned 11.19%/yr vs 6.08%/yr for MQY. At a 0.13 correlation, their price movements are largely independent. MAXI charges 0.97%/yr vs 2.07%/yr for MQY.

Performance

MAXI vs. MQY - Performance Comparison

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

Returns By Period

In the year-to-date period, MAXI achieves a -33.46% return, which is significantly lower than MQY's 3.28% return.

MAXI

• 1D: -2.93%
• 1M: -20.54%
• YTD: -33.46%
• 6M: -42.63%
• 1Y: -60.98%
• 3Y*: 11.19%
• 5Y*: —
• 10Y*: —

MQY

• 1D: -0.44%
• 1M: 2.13%
• YTD: 3.28%
• 6M: 2.54%
• 1Y: 9.97%
• 3Y*: 6.08%
• 5Y*: -1.93%
• 10Y*: 1.41%

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

MAXI vs. MQY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MAXI Simplify Bitcoin Strategy PLUS Income ETF	-33.46%	-28.59%	92.92%	144.12%	-13.34%
MQY BlackRock MuniYield Quality Fund	3.28%	4.28%	-0.06%	10.20%	6.30%

Correlation

The correlation between MAXI and MQY is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (All Time) Calculated using the full available price history since Oct 3, 2022	0.13

Return for Risk

MAXI vs. MQY — Risk / Return Rank

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

MAXI

MAXI Risk / Return Rank: 1
MAXI Sharpe Ratio Rank: 2
MAXI Sortino Ratio Rank: 1
MAXI Omega Ratio Rank: 2
MAXI Calmar Ratio Rank: 1
MAXI Martin Ratio Rank: 1

MQY

MQY Risk / Return Rank: 15
MQY Sharpe Ratio Rank: 15
MQY Sortino Ratio Rank: 19
MQY Omega Ratio Rank: 15
MQY Calmar Ratio Rank: 13
MQY Martin Ratio Rank: 14

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. MQY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and BlackRock MuniYield Quality Fund (MQY). 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.

	MAXI	MQY	Difference
Sharpe ratio: Return per unit of total volatility	-0.93	1.09	-2.02
Sortino ratio: Return per unit of downside risk	-1.49	1.82	-3.30
Omega ratio: Gain probability vs. loss probability	0.84	1.20	-0.37
Calmar ratio: Return relative to maximum drawdown	-0.92	1.23	-2.15
Martin ratio: Return relative to average drawdown	-1.43	3.90	-5.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAXI vs. MQY - Sharpe Ratio Comparison

The current MAXI Sharpe Ratio is -0.93, which is lower than the MQY Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of MAXI and MQY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MAXI	MQY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.93	1.09	-2.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.16	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.35	-0.04

Drawdowns

MAXI vs. MQY - Drawdown Comparison

The maximum MAXI drawdown since its inception was -66.78%, which is greater than MQY's maximum drawdown of -41.67%. Use the drawdown chart below to compare losses from any high point for MAXI and MQY.

Drawdown Indicators

	MAXI	MQY	Difference
Max Drawdown Largest peak-to-trough decline	-66.78%	-41.67%	-25.11%
Max Drawdown (1Y) Largest decline over 1 year	-66.78%	-8.13%	-58.65%
Max Drawdown (3Y) Largest decline over 3 years	-66.78%	-17.03%	-49.75%
Max Drawdown (5Y) Largest decline over 5 years	—	-35.44%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.97%	—
Current Drawdown Current decline from peak	-66.27%	-14.02%	-52.25%
Average Drawdown Average peak-to-trough decline	-18.74%	-8.29%	-10.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.76%	2.56%	+40.20%

Volatility

MAXI vs. MQY - Volatility Comparison

Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a higher volatility of 11.92% compared to BlackRock MuniYield Quality Fund (MQY) at 3.57%. This indicates that MAXI's price experiences larger fluctuations and is considered to be riskier than MQY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAXI	MQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.92%	3.57%	+8.35%
Volatility (6M) Calculated over the trailing 6-month period	45.84%	7.27%	+38.57%
Volatility (1Y) Calculated over the trailing 1-year period	65.83%	9.22%	+56.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.81%	12.18%	+51.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.81%	13.04%	+50.77%

MAXI vs. MQY - Expense Ratio Comparison

MAXI has a 0.97% expense ratio, which is lower than MQY's 2.07% expense ratio.

Dividends

MAXI vs. MQY - Dividend Comparison

MAXI's dividend yield for the trailing twelve months is around 66.33%, more than MQY's 6.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MAXI Simplify Bitcoin Strategy PLUS Income ETF	66.33%	49.00%	32.06%	29.63%	4.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MQY BlackRock MuniYield Quality Fund	6.12%	6.16%	6.04%	4.46%	5.87%	4.93%	4.21%	4.00%	5.24%	5.67%	6.10%	6.06%

Frequently Asked Questions

Can I hold both MAXI and MQY in my portfolio?

MAXI and MQY have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAXI or MQY?

MAXI has higher volatility (11.92%) compared to MQY (3.57%). In terms of maximum drawdown, MAXI dropped -66.78% vs MQY's -41.67%.

Which has better risk-adjusted returns?

MQY currently has the higher Sharpe Ratio (1.09 vs -0.93), 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.