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 12.72%/yr vs 4.76%/yr for USFR. At a 0.01 correlation, their price movements are largely independent. MAXI charges 0.97%/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 -35.14% return, which is significantly lower than USFR's 1.60% return.
MAXI
- 1D
- -2.53%
- 1M
- -24.95%
- YTD
- -35.14%
- 6M
- -43.24%
- 1Y
- -61.18%
- 3Y*
- 12.72%
- 5Y*
- —
- 10Y*
- —
USFR
- 1D
- 0.00%
- 1M
- 0.27%
- YTD
- 1.60%
- 6M
- 1.96%
- 1Y
- 4.01%
- 3Y*
- 4.76%
- 5Y*
- 3.66%
- 10Y*
- 2.47%
MAXI vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MAXI Simplify Bitcoin Strategy PLUS Income ETF | -35.14% | -28.59% | 92.92% | 144.12% | -13.34% |
USFR WisdomTree Floating Rate Treasury Fund | 1.60% | 4.23% | 5.47% | 5.18% | 0.95% |
Correlation
The correlation between MAXI and USFR is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2022 | 0.01 |
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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.
| MAXI | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -15.94 | ||
| Sortino ratioReturn per unit of downside risk | -51.88 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 13.37 | -12.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 202.38 | -203.29 |
| Martin ratioReturn relative to average drawdown | -1.42 | 783.80 | -785.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MAXI | USFR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.93 | 15.01 | -15.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 9.25 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 3.07 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 1.60 | -1.30 |
Drawdowns
MAXI vs. USFR - Drawdown Comparison
The maximum MAXI drawdown since its inception was -67.12%, 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 | -67.12% | -1.36% | -65.76% |
Max Drawdown (1Y)Largest decline over 1 year | -67.12% | -0.02% | -67.10% |
Max Drawdown (3Y)Largest decline over 3 years | -67.12% | -0.06% | -67.06% |
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 | -67.12% | 0.00% | -67.12% |
Average DrawdownAverage peak-to-trough decline | -18.80% | -0.16% | -18.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.96% | 0.01% | +42.95% |
Volatility
MAXI vs. USFR - Volatility Comparison
Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a higher volatility of 11.13% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.06%. 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 | 11.13% | 0.06% | +11.07% |
Volatility (6M)Calculated over the trailing 6-month period | 44.80% | 0.18% | +44.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.74% | 0.27% | +65.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.80% | 0.40% | +63.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.80% | 0.81% | +62.99% |
MAXI vs. USFR - Expense Ratio Comparison
MAXI has a 0.97% 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 68.05%, more than USFR's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
MAXI Simplify Bitcoin Strategy PLUS Income ETF | 68.05% | 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 | 3.91% | 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 -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MAXI has higher volatility (11.13%) compared to USFR (0.06%). In terms of maximum drawdown, MAXI dropped -67.12% vs USFR's -1.36%.
On 3-year performance, MAXI leads with 12.72% vs 4.76% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.06%. 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 12.72% return vs 4.76%. 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 0.97% for MAXI.
MAXI has the higher dividend yield at 68.05%, compared with 3.91% 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: 0.97% for MAXI and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (15.01 vs -0.93), 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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