MAXI vs. MSTR
MAXI (Simplify Bitcoin Strategy PLUS Income ETF) is Cryptocurrency fund actively managed by Simplify, while MSTR (Strategy Inc) is a stock. Over the past 3 years, MAXI returned 5.69%/yr vs 26.14%/yr for MSTR. A 0.76 correlation means they provide meaningful diversification when combined.
Performance
MAXI vs. MSTR - Performance Comparison
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Returns By Period
In the year-to-date period, MAXI achieves a -36.84% return, which is significantly higher than MSTR's -39.39% return.
MAXI
- 1D
- -5.35%
- 1M
- -2.27%
- 6M
- -40.90%
- YTD
- -36.84%
- 1Y
- -67.11%
- 3Y*
- 5.69%
- 5Y*
- —
- 10Y*
- —
MSTR
- 1D
- -2.68%
- 1M
- -25.71%
- 6M
- -43.23%
- YTD
- -39.39%
- 1Y
- -78.81%
- 3Y*
- 26.14%
- 5Y*
- 10.45%
- 10Y*
- 17.27%
MAXI vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MAXI Simplify Bitcoin Strategy PLUS Income ETF | -36.84% | -28.59% | 92.92% | 144.12% | -13.34% |
MSTR Strategy Inc | -39.39% | -47.53% | 358.54% | 346.15% | -33.16% |
Correlation
The correlation between MAXI and MSTR is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022 | 0.76 |
The correlation between MAXI and MSTR has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.
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Return for Risk
MAXI vs. MSTR — Risk / Return Rank
MAXI
MSTR
MAXI vs. MSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and Strategy Inc (MSTR). 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 | MSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 0.76 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.97 | -0.96 | 0.00 |
| Martin ratioReturn relative to average drawdown | -1.40 | -1.38 | -0.02 |
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Drawdowns
MAXI vs. MSTR - Drawdown Comparison
The maximum MAXI drawdown since its inception was -69.56%, smaller than the maximum MSTR drawdown of -99.86%. Use the drawdown chart below to compare losses from any high point for MAXI and MSTR.
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Drawdown Indicators
| MAXI | MSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.56% | -99.86% | +30.30% |
Max Drawdown (1Y)Largest decline over 1 year | -69.56% | -81.95% | +12.39% |
Max Drawdown (3Y)Largest decline over 3 years | -69.56% | -82.63% | +13.07% |
Max Drawdown (5Y)Largest decline over 5 years | — | -84.11% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -89.27% | — |
Current DrawdownCurrent decline from peak | -67.98% | -80.56% | +12.58% |
Average DrawdownAverage peak-to-trough decline | -20.07% | -86.43% | +66.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.89% | 57.18% | -9.29% |
Volatility
MAXI vs. MSTR - Volatility Comparison
The current volatility for Simplify Bitcoin Strategy PLUS Income ETF (MAXI) is 13.41%, while Strategy Inc (MSTR) has a volatility of 26.76%. This indicates that MAXI experiences smaller price fluctuations and is considered to be less risky than MSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAXI | MSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.41% | 26.76% | -13.35% |
Volatility (6M)Calculated over the trailing 6-month period | 44.42% | 61.05% | -16.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.56% | 74.29% | -9.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.42% | 90.78% | -27.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.42% | 74.25% | -10.83% |
Dividends
MAXI vs. MSTR - Dividend Comparison
MAXI's dividend yield for the trailing twelve months is around 67.44%, while MSTR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
MAXI Simplify Bitcoin Strategy PLUS Income ETF | 67.44% | 49.00% | 32.06% | 29.63% | 4.43% |
MSTR Strategy Inc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MAXI and MSTR have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (26.76%) compared to MAXI (13.41%). In terms of maximum drawdown, MAXI dropped -69.56% vs MSTR's -99.86%.
MAXI currently has the higher Sharpe Ratio (-1.04 vs -1.06), 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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