MAXI vs. MSTZ

Last updated Jul 12, 2026

MAXI (Simplify Bitcoin Strategy PLUS Income ETF) and MSTZ (T-REX 2X Inverse MSTR Daily Target ETF) are both exchange-traded funds - MAXI is a Cryptocurrency fund actively managed by Simplify, while MSTZ is a Inverse Equities fund actively managed by REX. Both are actively managed. Over the past year, MAXI returned -65.25% vs 264.10% for MSTZ. At a correlation of -0.75, they often move in opposite directions. MAXI charges 1.31%/yr vs 1.05%/yr for MSTZ.

Performance

MAXI vs. MSTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and T-REX 2X Inverse MSTR Daily Target ETF (MSTZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAXI achieves a -33.27% return, which is significantly lower than MSTZ's -26.97% return.

MAXI

• 1D: 1.54%
• 1M: 3.25%
• 6M: -35.90%
• YTD: -33.27%
• 1Y: -65.25%
• 3Y*: 7.11%
• 5Y*: —
• 10Y*: —

MSTZ

• 1D: -1.53%
• 1M: 39.32%
• 6M: -19.19%
• YTD: -26.97%
• 1Y: 264.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MAXI vs. MSTZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MAXI Simplify Bitcoin Strategy PLUS Income ETF	-33.27%	-28.59%	49.78%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	-26.97%	-38.95%	-94.43%

Correlation

The correlation between MAXI and MSTZ is -0.81, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.81
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	-0.75

The correlation between MAXI and MSTZ has been stable across timeframes, ranging from -0.81 to -0.75 - a consistent structural relationship.

Return for Risk

MAXI vs. MSTZ — 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: 1
MAXI Sortino Ratio Rank: 1
MAXI Omega Ratio Rank: 1
MAXI Calmar Ratio Rank: 1
MAXI Martin Ratio Rank: 2

MSTZ

MSTZ Risk / Return Rank: 60
MSTZ Sharpe Ratio Rank: 61
MSTZ Sortino Ratio Rank: 62
MSTZ Omega Ratio Rank: 63
MSTZ Calmar Ratio Rank: 71
MSTZ Martin Ratio Rank: 43

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. MSTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and T-REX 2X Inverse MSTR Daily Target ETF (MSTZ). 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	MSTZ	Difference
Sharpe ratio: Return per unit of total volatility	-1.00	1.64	-2.64
Sortino ratio: Return per unit of downside risk	-1.70	2.34	-4.04
Omega ratio: Gain probability vs. loss probability	0.81	1.30	-0.49
Calmar ratio: Return relative to maximum drawdown	-0.92	2.86	-3.79
Martin ratio: Return relative to average drawdown	-1.34	5.59	-6.93

MAXI vs. MSTZ - Sharpe Ratio Comparison

The current MAXI Sharpe Ratio is -1.00, which is lower than the MSTZ Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of MAXI and MSTZ, 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. MSTZ - Drawdown Comparison

The maximum MAXI drawdown since its inception was -69.56%, smaller than the maximum MSTZ drawdown of -99.38%. Use the drawdown chart below to compare losses from any high point for MAXI and MSTZ.

Drawdown Indicators

	MAXI	MSTZ	Difference
Max Drawdown Largest peak-to-trough decline	-69.56%	-99.38%	+29.82%
Max Drawdown (1Y) Largest decline over 1 year	-69.56%	-84.89%	+15.33%
Max Drawdown (3Y) Largest decline over 3 years	-69.56%	—	—
Current Drawdown Current decline from peak	-66.17%	-97.51%	+31.34%
Average Drawdown Average peak-to-trough decline	-20.01%	-94.53%	+74.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.70%	43.41%	+4.29%

Volatility

MAXI vs. MSTZ - Volatility Comparison

The current volatility for Simplify Bitcoin Strategy PLUS Income ETF (MAXI) is 12.11%, while T-REX 2X Inverse MSTR Daily Target ETF (MSTZ) has a volatility of 56.46%. This indicates that MAXI experiences smaller price fluctuations and is considered to be less risky than MSTZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAXI	MSTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.11%	56.46%	-44.35%
Volatility (6M) Calculated over the trailing 6-month period	44.13%	135.20%	-91.07%
Volatility (1Y) Calculated over the trailing 1-year period	64.46%	148.41%	-83.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.39%	171.17%	-107.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.39%	171.17%	-107.78%

MAXI vs. MSTZ - Expense Ratio Comparison

MAXI has a 1.31% expense ratio, which is higher than MSTZ's 1.05% expense ratio.

Dividends

MAXI vs. MSTZ - Dividend Comparison

MAXI's dividend yield for the trailing twelve months is around 63.83%, while MSTZ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
MAXI Simplify Bitcoin Strategy PLUS Income ETF	63.83%	49.00%	32.06%	29.63%	4.43%
MSTZ T-REX 2X Inverse MSTR Daily Target ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MAXI and MSTZ in my portfolio?

MAXI and MSTZ 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.

Which is riskier, MAXI or MSTZ?

MSTZ has higher volatility (56.46%) compared to MAXI (12.11%). In terms of maximum drawdown, MAXI dropped -69.56% vs MSTZ's -99.38%.

Which ETF is better, MAXI or MSTZ?

On 1-year performance, MSTZ leads with 264.10% vs -65.25% for MAXI. On fees, MSTZ is cheaper at 1.05% per year. On volatility, MAXI has been the lower-risk option at 12.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAXI or MSTZ?

Over the 1-year period, MSTZ has performed better with a 264.10% return vs -65.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAXI or MSTZ?

MSTZ is cheaper with a 1.05% expense ratio, compared with 1.31% for MAXI.

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

MAXI has the higher dividend yield at 63.83%, compared with 0.00% for MSTZ.

What is the main difference between MAXI and MSTZ?

MAXI is categorized as Cryptocurrency, while MSTZ is Inverse Equities. They also come from different issuers: Simplify and REX. Their fees differ too: 1.31% for MAXI and 1.05% for MSTZ.

Which has better risk-adjusted returns?

MSTZ currently has the higher Sharpe Ratio (1.64 vs -1.00), 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.