QIS vs. MAXI

Last updated Jul 17, 2026

QIS (Simplify Multi-Qis Alternative ETF) and MAXI (Simplify Bitcoin Strategy PLUS Income ETF) are both exchange-traded funds - QIS is a Multistrategy fund actively managed by Simplify, while MAXI is a Cryptocurrency fund actively managed by Simplify. Both are actively managed. Over the past 3 years, QIS returned -24.70%/yr vs 7.80%/yr for MAXI. At a 0.07 correlation, their price movements are largely independent. QIS charges 1.00%/yr vs 1.31%/yr for MAXI.

Performance

QIS vs. MAXI - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with QIS having a -32.48% return and MAXI slightly lower at -33.30%.

QIS

• 1D: -3.21%
• 1M: -5.60%
• 6M: -35.50%
• YTD: -32.48%
• 1Y: -51.81%
• 3Y*: -24.70%
• 5Y*: —
• 10Y*: —

MAXI

• 1D: -2.51%
• 1M: 0.56%
• 6M: -41.06%
• YTD: -33.30%
• 1Y: -64.90%
• 3Y*: 7.80%
• 5Y*: —
• 10Y*: —

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

QIS vs. MAXI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
QIS Simplify Multi-Qis Alternative ETF	-32.48%	-38.02%	0.19%	2.08%
MAXI Simplify Bitcoin Strategy PLUS Income ETF	-33.30%	-28.59%	92.92%	31.78%

Correlation

The correlation between QIS and MAXI is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (All Time) Calculated using the full available price history since Jul 11, 2023	0.07

Return for Risk

QIS vs. MAXI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QIS

QIS Risk / Return Rank: 0
QIS Sharpe Ratio Rank: 0
QIS Sortino Ratio Rank: 0
QIS Omega Ratio Rank: 0
QIS Calmar Ratio Rank: 1
QIS Martin Ratio Rank: 0

MAXI

MAXI Risk / Return Rank: 1
MAXI Sharpe Ratio Rank: 2
MAXI Sortino Ratio Rank: 1
MAXI Omega Ratio Rank: 1
MAXI Calmar Ratio Rank: 1
MAXI Martin Ratio Rank: 2

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.

QIS vs. MAXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Multi-Qis Alternative ETF (QIS) and Simplify Bitcoin Strategy PLUS Income ETF (MAXI). 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.

	QIS	MAXI	Difference
Sharpe ratio: Return per unit of total volatility	-1.35	-1.01	-0.34
Sortino ratio: Return per unit of downside risk	-2.19	-1.75	-0.44
Omega ratio: Gain probability vs. loss probability	0.75	0.81	-0.06
Calmar ratio: Return relative to maximum drawdown	-0.96	-0.94	-0.03
Martin ratio: Return relative to average drawdown	-1.68	-1.34	-0.34

QIS vs. MAXI - Sharpe Ratio Comparison

The current QIS Sharpe Ratio is -1.35, which is lower than the MAXI Sharpe Ratio of -1.01. The chart below compares the historical Sharpe Ratios of QIS and MAXI, 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

QIS vs. MAXI - Drawdown Comparison

The maximum QIS drawdown since its inception was -61.25%, smaller than the maximum MAXI drawdown of -69.56%. Use the drawdown chart below to compare losses from any high point for QIS and MAXI.

Drawdown Indicators

	QIS	MAXI	Difference
Max Drawdown Largest peak-to-trough decline	-61.25%	-69.56%	+8.31%
Max Drawdown (1Y) Largest decline over 1 year	-53.92%	-69.56%	+15.64%
Max Drawdown (3Y) Largest decline over 3 years	-61.25%	-69.56%	+8.31%
Current Drawdown Current decline from peak	-60.41%	-66.19%	+5.78%
Average Drawdown Average peak-to-trough decline	-15.42%	-20.21%	+4.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.89%	48.40%	-17.51%

Volatility

QIS vs. MAXI - Volatility Comparison

The current volatility for Simplify Multi-Qis Alternative ETF (QIS) is 9.92%, while Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a volatility of 14.74%. This indicates that QIS experiences smaller price fluctuations and is considered to be less risky than MAXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QIS	MAXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.92%	14.74%	-4.82%
Volatility (6M) Calculated over the trailing 6-month period	31.16%	44.80%	-13.64%
Volatility (1Y) Calculated over the trailing 1-year period	38.39%	64.59%	-26.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.48%	63.45%	-33.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.48%	63.45%	-33.97%

QIS vs. MAXI - Expense Ratio Comparison

QIS has a 1.00% expense ratio, which is lower than MAXI's 1.31% expense ratio.

Dividends

QIS vs. MAXI - Dividend Comparison

QIS's dividend yield for the trailing twelve months is around 2.02%, less than MAXI's 63.87% yield.

Position	TTM	2025	2024	2023	2022
MAXI Simplify Bitcoin Strategy PLUS Income ETF	63.87%	49.00%	32.06%	29.63%	4.43%
QIS Simplify Multi-Qis Alternative ETF	2.02%	3.37%	1.07%	3.29%	0.00%

Frequently Asked Questions

Can I hold both QIS and MAXI in my portfolio?

QIS and MAXI have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QIS or MAXI?

MAXI has higher volatility (14.74%) compared to QIS (9.92%). In terms of maximum drawdown, QIS dropped -61.25% vs MAXI's -69.56%.

Which ETF is better, QIS or MAXI?

On 3-year performance, MAXI leads with 7.80% vs -24.70% for QIS. On fees, QIS is cheaper at 1.00% per year. On volatility, QIS has been the lower-risk option at 9.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QIS or MAXI?

Over the 3-year period, MAXI has performed better with a 7.80% return vs -24.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QIS or MAXI?

QIS is cheaper with a 1.00% expense ratio, compared with 1.31% for MAXI.

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

MAXI has the higher dividend yield at 63.87%, compared with 2.02% for QIS.

What is the main difference between QIS and MAXI?

QIS is categorized as Multistrategy, while MAXI is Cryptocurrency. Their fees differ too: 1.00% for QIS and 1.31% for MAXI.

Which has better risk-adjusted returns?

MAXI currently has the higher Sharpe Ratio (-1.01 vs -1.35), 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.