MAXI vs. UNH

Last updated Jun 21, 2026

MAXI (Simplify Bitcoin Strategy PLUS Income ETF) is Cryptocurrency fund actively managed by Simplify, while UNH (UnitedHealth Group Incorporated) is a stock. Over the past 3 years, MAXI returned 10.98%/yr vs -2.42%/yr for UNH. At a 0.07 correlation, their price movements are largely independent.

Performance

MAXI vs. UNH - Performance Comparison

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

Returns By Period

In the year-to-date period, MAXI achieves a -35.86% return, which is significantly lower than UNH's 23.11% return.

MAXI

• 1D: -1.94%
• 1M: -19.20%
• YTD: -35.86%
• 6M: -37.09%
• 1Y: -57.63%
• 3Y*: 10.98%
• 5Y*: —
• 10Y*: —

UNH

• 1D: 0.36%
• 1M: 3.80%
• YTD: 23.11%
• 6M: 24.12%
• 1Y: 36.32%
• 3Y*: -2.42%
• 5Y*: 2.37%
• 10Y*: 13.06%

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

MAXI vs. UNH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MAXI Simplify Bitcoin Strategy PLUS Income ETF	-35.86%	-28.59%	92.92%	144.12%	-13.34%
UNH UnitedHealth Group Incorporated	23.11%	-33.14%	-2.41%	0.80%	4.52%

Correlation

The correlation between MAXI and UNH is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.06
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022	0.07

The correlation between MAXI and UNH shifts across timeframes, from 0.06 (3 years) to 0.20 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MAXI vs. UNH — 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

UNH

UNH Risk / Return Rank: 66
UNH Sharpe Ratio Rank: 69
UNH Sortino Ratio Rank: 63
UNH Omega Ratio Rank: 67
UNH Calmar Ratio Rank: 66
UNH Martin Ratio Rank: 65

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. UNH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and UnitedHealth Group Incorporated (UNH). 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	UNH	Difference
Sharpe ratio: Return per unit of total volatility	-0.90	0.85	-1.75
Sortino ratio: Return per unit of downside risk	-1.37	1.32	-2.69
Omega ratio: Gain probability vs. loss probability	0.85	1.20	-0.35
Calmar ratio: Return relative to maximum drawdown	-0.85	1.18	-2.03
Martin ratio: Return relative to average drawdown	-1.30	2.59	-3.88

MAXI vs. UNH - Sharpe Ratio Comparison

The current MAXI Sharpe Ratio is -0.90, which is lower than the UNH Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of MAXI and UNH, 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. UNH - Drawdown Comparison

The maximum MAXI drawdown since its inception was -68.91%, smaller than the maximum UNH drawdown of -74.37%. Use the drawdown chart below to compare losses from any high point for MAXI and UNH.

Drawdown Indicators

	MAXI	UNH	Difference
Max Drawdown Largest peak-to-trough decline	-68.91%	-74.37%	+5.46%
Max Drawdown (1Y) Largest decline over 1 year	-68.91%	-28.96%	-39.95%
Max Drawdown (3Y) Largest decline over 3 years	-68.91%	-61.39%	-7.52%
Max Drawdown (5Y) Largest decline over 5 years	—	-61.39%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-61.39%	—
Current Drawdown Current decline from peak	-67.49%	-33.15%	-34.34%
Average Drawdown Average peak-to-trough decline	-19.30%	-14.78%	-4.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	44.94%	13.17%	+31.77%

Volatility

MAXI vs. UNH - Volatility Comparison

Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a higher volatility of 12.91% compared to UnitedHealth Group Incorporated (UNH) at 7.81%. This indicates that MAXI's price experiences larger fluctuations and is considered to be riskier than UNH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAXI	UNH	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.91%	7.81%	+5.10%
Volatility (6M) Calculated over the trailing 6-month period	44.45%	30.77%	+13.68%
Volatility (1Y) Calculated over the trailing 1-year period	65.18%	40.05%	+25.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.64%	31.89%	+31.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	63.64%	30.19%	+33.45%

Dividends

MAXI vs. UNH - Dividend Comparison

MAXI's dividend yield for the trailing twelve months is around 68.81%, more than UNH's 2.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MAXI Simplify Bitcoin Strategy PLUS Income ETF	68.81%	49.00%	32.06%	29.63%	4.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UNH UnitedHealth Group Incorporated	2.23%	2.64%	1.62%	1.38%	1.21%	1.12%	1.38%	1.41%	1.38%	1.30%	1.48%	1.59%

Frequently Asked Questions

Can I hold both MAXI and UNH in my portfolio?

MAXI and UNH have a correlation of 0.20, 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 UNH?

MAXI has higher volatility (12.91%) compared to UNH (7.81%). In terms of maximum drawdown, MAXI dropped -68.91% vs UNH's -74.37%.

Which has better risk-adjusted returns?

UNH currently has the higher Sharpe Ratio (0.85 vs -0.90), 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.