MAXI vs. USFR
MAXI (Simplify Bitcoin Strategy PLUS Income ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - MAXI is a Cryptocurrency fund actively managed by Simplify, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. MAXI is actively managed, while USFR is passively managed. Over the past 3 years, MAXI returned 7.11%/yr vs 4.71%/yr for USFR. At a 0.01 correlation, their price movements are largely independent. MAXI charges 1.31%/yr vs 0.15%/yr for USFR.
Performance
MAXI vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, MAXI achieves a -33.27% return, which is significantly lower than USFR's 2.01% return.
MAXI
- 1D
- 1.54%
- 1M
- 3.25%
- 6M
- -35.90%
- YTD
- -33.27%
- 1Y
- -65.25%
- 3Y*
- 7.11%
- 5Y*
- —
- 10Y*
- —
USFR
- 1D
- 0.02%
- 1M
- 0.28%
- 6M
- 1.90%
- YTD
- 2.01%
- 1Y
- 3.93%
- 3Y*
- 4.71%
- 5Y*
- 3.75%
- 10Y*
- 2.49%
MAXI vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MAXI Simplify Bitcoin Strategy PLUS Income ETF | -33.27% | -28.59% | 92.92% | 144.12% | -13.34% |
USFR WisdomTree Floating Rate Treasury Fund | 2.01% | 4.23% | 5.47% | 5.18% | 0.93% |
Correlation
The correlation between MAXI and USFR is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022 | 0.01 |
The correlation between MAXI and USFR shifts across timeframes, from -0.11 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MAXI vs. USFR — Risk / Return Rank
MAXI
USFR
MAXI vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and WisdomTree Floating Rate Treasury Fund (USFR). 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 | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -15.83 | ||
| Sortino ratioReturn per unit of downside risk | -53.36 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 14.08 | -13.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.92 | 200.62 | -201.55 |
| Martin ratioReturn relative to average drawdown | -1.34 | 801.27 | -802.62 |
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Drawdowns
MAXI vs. USFR - Drawdown Comparison
The maximum MAXI drawdown since its inception was -69.56%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for MAXI and USFR.
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Drawdown Indicators
| MAXI | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.56% | -1.36% | -68.20% |
Max Drawdown (1Y)Largest decline over 1 year | -69.56% | -0.02% | -69.54% |
Max Drawdown (3Y)Largest decline over 3 years | -69.56% | -0.06% | -69.50% |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.18% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.80% | — |
Current DrawdownCurrent decline from peak | -66.17% | 0.00% | -66.17% |
Average DrawdownAverage peak-to-trough decline | -20.01% | -0.15% | -19.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 47.70% | 0.00% | +47.70% |
Volatility
MAXI vs. USFR - Volatility Comparison
Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a higher volatility of 12.11% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.07%. This indicates that MAXI's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAXI | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.11% | 0.07% | +12.04% |
Volatility (6M)Calculated over the trailing 6-month period | 44.13% | 0.19% | +43.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.46% | 0.27% | +64.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.39% | 0.39% | +63.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.39% | 0.77% | +62.62% |
MAXI vs. USFR - Expense Ratio Comparison
MAXI has a 1.31% expense ratio, which is higher than USFR's 0.15% expense ratio.
Dividends
MAXI vs. USFR - Dividend Comparison
MAXI's dividend yield for the trailing twelve months is around 63.83%, more than USFR's 3.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
MAXI Simplify Bitcoin Strategy PLUS Income ETF | 63.83% | 49.00% | 32.06% | 29.63% | 4.43% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USFR WisdomTree Floating Rate Treasury Fund | 3.84% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% |
Frequently Asked Questions
MAXI and USFR have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MAXI has higher volatility (12.11%) compared to USFR (0.07%). In terms of maximum drawdown, MAXI dropped -69.56% vs USFR's -1.36%.
On 3-year performance, MAXI leads with 7.11% vs 4.71% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, MAXI has performed better with a 7.11% return vs 4.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USFR is cheaper with a 0.15% expense ratio, compared with 1.31% for MAXI.
MAXI has the higher dividend yield at 63.83%, compared with 3.84% for USFR.
MAXI is categorized as Cryptocurrency, while USFR is Government Bonds. They also come from different issuers: Simplify and WisdomTree. Their fees differ too: 1.31% for MAXI and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (14.83 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.
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