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 7.00%/yr vs 28.96%/yr for MSTR. Their 0.76 correlation means they have sometimes moved together and sometimes differently.
Performance
MAXI vs. MSTR - Performance Comparison
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Returns By Period
In the year-to-date period, MAXI achieves a -36.57% return, which is significantly higher than MSTR's -38.61% return.
MAXI
- 1D
- -4.97%
- 1M
- -0.08%
- 6M
- -32.57%
- YTD
- -36.57%
- 1Y
- -63.49%
- 3Y*
- 7.00%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 17.39%
MSTR
- 1D
- -4.56%
- 1M
- -7.43%
- 6M
- -37.69%
- YTD
- -38.61%
- 1Y
- -74.56%
- 3Y*
- 28.96%
- 5Y*
- 8.30%
- 10Y*
- 18.75%
- ALL TIME*
- 9.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $93.05K | $101.39K | $235.85K | |
MSTR Strategy Inc | $1.53B | $1.65B | $2.43B |
MAXI vs. MSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MAXI Simplify Bitcoin Strategy PLUS Income ETF | -36.57% | -28.59% | 92.92% | 144.12% | -13.34% |
MSTR Strategy Inc | -38.61% | -47.53% | 358.54% | 346.15% | -33.16% |
Correlation
The correlation between MAXI and MSTR is 0.82, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.82 |
Correlation (3Y) Balances recent behavior with more history. | 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 0.82 - 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 | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 0.78 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.93 | -0.97 | +0.04 |
| Martin ratioReturn relative to average drawdown | -1.28 | -1.38 | +0.10 |
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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% | -79.53% | +9.97% |
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 | -67.84% | -80.31% | +12.47% |
Average DrawdownAverage peak-to-trough decline | -20.73% | -86.42% | +65.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 50.31% | 55.64% | -5.33% |
Volatility
MAXI vs. MSTR - Volatility Comparison
The current volatility for Simplify Bitcoin Strategy PLUS Income ETF (MAXI) is 16.45%, while Strategy Inc (MSTR) has a volatility of 18.58%. 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 | 16.45% | 18.58% | -2.13% |
Volatility (6M)Calculated over the trailing 6-month period | 43.72% | 60.57% | -16.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.89% | 75.24% | -10.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.28% | 89.94% | -26.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.28% | 74.33% | -11.05% |
Dividends
MAXI vs. MSTR - Dividend Comparison
MAXI's dividend yield for the trailing twelve months is around 56.27%, while MSTR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
MAXI Simplify Bitcoin Strategy PLUS Income ETF | 56.27% | 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 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTR has higher volatility (18.58%) compared to MAXI (16.45%). In terms of maximum drawdown, MAXI dropped -69.56% vs MSTR's -99.86%.
MAXI currently has the higher Sharpe Ratio (-0.99 vs -1.02), 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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