MAXI vs. XSB.TO
MAXI (Simplify Bitcoin Strategy PLUS Income ETF) and XSB.TO (iShares Core Canadian Short Term Bond Index ETF) are both exchange-traded funds - MAXI is a Cryptocurrency fund actively managed by Simplify, while XSB.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD. MAXI is actively managed, while XSB.TO is passively managed. Over the past 3 years, MAXI returned 12.05%/yr vs 3.42%/yr for XSB.TO. At a 0.01 correlation, their price movements are largely independent. MAXI charges 0.97%/yr vs 0.10%/yr for XSB.TO.
Performance
MAXI vs. XSB.TO - Performance Comparison
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Different Trading Currencies
MAXI is traded in USD, while XSB.TO is traded in CAD. To make them comparable, the XSB.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, MAXI achieves a -35.37% return, which is significantly lower than XSB.TO's -0.83% return.
MAXI
- 1D
- -0.01%
- 1M
- -24.38%
- YTD
- -35.37%
- 6M
- -40.13%
- 1Y
- -60.40%
- 3Y*
- 12.05%
- 5Y*
- —
- 10Y*
- —
XSB.TO
- 1D
- -0.18%
- 1M
- -1.11%
- YTD
- -0.83%
- 6M
- -0.03%
- 1Y
- 0.52%
- 3Y*
- 3.42%
- 5Y*
- -0.85%
- 10Y*
- 1.10%
MAXI vs. XSB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MAXI Simplify Bitcoin Strategy PLUS Income ETF | -35.37% | -28.59% | 92.92% | 144.12% | -13.34% |
XSB.TO iShares Core Canadian Short Term Bond Index ETF | -0.83% | 8.66% | -2.39% | 7.22% | 1.52% |
Correlation
The correlation between MAXI and XSB.TO is 0.05, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022 | 0.01 |
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Return for Risk
MAXI vs. XSB.TO — Risk / Return Rank
MAXI
XSB.TO
MAXI vs. XSB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Bitcoin Strategy PLUS Income ETF (MAXI) and iShares Core Canadian Short Term Bond Index ETF (XSB.TO). 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 | XSB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.89 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.04 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | 0.28 | -1.18 |
| Martin ratioReturn relative to average drawdown | -1.40 | 0.67 | -2.08 |
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Drawdowns
MAXI vs. XSB.TO - Drawdown Comparison
The maximum MAXI drawdown since its inception was -68.91%, which is greater than XSB.TO's maximum drawdown of -28.27%. Use the drawdown chart below to compare losses from any high point for MAXI and XSB.TO.
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Drawdown Indicators
| MAXI | XSB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.91% | -28.27% | -40.64% |
Max Drawdown (1Y)Largest decline over 1 year | -68.91% | -3.40% | -65.51% |
Max Drawdown (3Y)Largest decline over 3 years | -68.91% | -7.05% | -61.86% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.85% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.49% | — |
Current DrawdownCurrent decline from peak | -67.24% | -8.46% | -58.78% |
Average DrawdownAverage peak-to-trough decline | -19.09% | -11.08% | -8.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 44.17% | 1.43% | +42.74% |
Volatility
MAXI vs. XSB.TO - Volatility Comparison
Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a higher volatility of 13.26% compared to iShares Core Canadian Short Term Bond Index ETF (XSB.TO) at 1.18%. This indicates that MAXI's price experiences larger fluctuations and is considered to be riskier than XSB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAXI | XSB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.26% | 1.18% | +12.08% |
Volatility (6M)Calculated over the trailing 6-month period | 45.02% | 3.67% | +41.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.30% | 4.74% | +60.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.71% | 6.84% | +56.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.71% | 7.24% | +56.47% |
MAXI vs. XSB.TO - Expense Ratio Comparison
MAXI has a 0.97% expense ratio, which is higher than XSB.TO's 0.10% expense ratio.
Dividends
MAXI vs. XSB.TO - Dividend Comparison
MAXI's dividend yield for the trailing twelve months is around 68.29%, more than XSB.TO's 3.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MAXI Simplify Bitcoin Strategy PLUS Income ETF | 68.29% | 49.00% | 32.06% | 29.63% | 4.43% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XSB.TO iShares Core Canadian Short Term Bond Index ETF | 3.10% | 3.15% | 3.05% | 2.67% | 2.28% | 2.05% | 2.21% | 2.39% | 2.39% | 2.36% | 2.36% | 2.50% |
Frequently Asked Questions
MAXI and XSB.TO have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSB.TO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSB.TO is cheaper with a 0.10% expense ratio, compared with 0.97% for MAXI.
MAXI is categorized as Cryptocurrency, while XSB.TO is Canadian Government Bonds. They also come from different issuers: Simplify and iShares. Their fees differ too: 0.97% for MAXI and 0.10% for XSB.TO.
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