SLV vs. MAXI
SLV (iShares Silver Trust) and MAXI (Simplify Bitcoin Strategy PLUS Income ETF) are both exchange-traded funds - SLV is a Silver fund tracking the LBMA Silver Price, while MAXI is a Cryptocurrency fund actively managed by Simplify. SLV is passively managed, while MAXI is actively managed. Over the past 3 years, SLV returned 38.96%/yr vs 10.98%/yr for MAXI. At a 0.20 correlation, their price movements are largely independent. SLV charges 0.50%/yr vs 1.31%/yr for MAXI.
Performance
SLV vs. MAXI - Performance Comparison
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Returns By Period
In the year-to-date period, SLV achieves a -7.62% return, which is significantly higher than MAXI's -35.86% return.
SLV
- 1D
- -1.81%
- 1M
- -12.95%
- YTD
- -7.62%
- 6M
- -2.33%
- 1Y
- 81.88%
- 3Y*
- 38.96%
- 5Y*
- 20.04%
- 10Y*
- 13.58%
MAXI
- 1D
- -1.94%
- 1M
- -19.20%
- YTD
- -35.86%
- 6M
- -37.09%
- 1Y
- -57.63%
- 3Y*
- 10.98%
- 5Y*
- —
- 10Y*
- —
SLV vs. MAXI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SLV iShares Silver Trust | -7.62% | 144.66% | 20.89% | -1.09% | 26.77% |
MAXI Simplify Bitcoin Strategy PLUS Income ETF | -35.86% | -28.59% | 92.92% | 144.12% | -13.34% |
Correlation
The correlation between SLV and MAXI is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022 | 0.20 |
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Return for Risk
SLV vs. MAXI — Risk / Return Rank
SLV
MAXI
SLV vs. MAXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Silver Trust (SLV) 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.
| SLV | MAXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.22 | ||
| Sortino ratioReturn per unit of downside risk | +3.05 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.85 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | -0.85 | +2.59 |
| Martin ratioReturn relative to average drawdown | 3.68 | -1.30 | +4.97 |
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Drawdowns
SLV vs. MAXI - Drawdown Comparison
The maximum SLV drawdown since its inception was -76.28%, which is greater than MAXI's maximum drawdown of -68.91%. Use the drawdown chart below to compare losses from any high point for SLV and MAXI.
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Drawdown Indicators
| SLV | MAXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.28% | -68.91% | -7.37% |
Max Drawdown (1Y)Largest decline over 1 year | -45.40% | -68.91% | +23.51% |
Max Drawdown (3Y)Largest decline over 3 years | -45.40% | -68.91% | +23.51% |
Max Drawdown (5Y)Largest decline over 5 years | -45.40% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.40% | — | — |
Current DrawdownCurrent decline from peak | -43.65% | -67.49% | +23.84% |
Average DrawdownAverage peak-to-trough decline | -44.65% | -19.30% | -25.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.52% | 44.94% | -23.42% |
Volatility
SLV vs. MAXI - Volatility Comparison
iShares Silver Trust (SLV) has a higher volatility of 14.09% compared to Simplify Bitcoin Strategy PLUS Income ETF (MAXI) at 12.91%. This indicates that SLV's price experiences larger fluctuations and is considered to be riskier than MAXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLV | MAXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.09% | 12.91% | +1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 59.18% | 44.45% | +14.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 60.10% | 65.18% | -5.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.50% | 63.64% | -27.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.04% | 63.64% | -31.60% |
SLV vs. MAXI - Expense Ratio Comparison
SLV has a 0.50% expense ratio, which is lower than MAXI's 1.31% expense ratio.
Dividends
SLV vs. MAXI - Dividend Comparison
SLV has not paid dividends to shareholders, while MAXI's dividend yield for the trailing twelve months is around 68.81%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
MAXI Simplify Bitcoin Strategy PLUS Income ETF | 68.81% | 49.00% | 32.06% | 29.63% | 4.43% |
SLV iShares Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SLV and MAXI have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (14.09%) compared to MAXI (12.91%). In terms of maximum drawdown, SLV dropped -76.28% vs MAXI's -68.91%.
On 3-year performance, SLV leads with 38.96% vs 10.98% for MAXI. On fees, SLV is cheaper at 0.50% per year. On volatility, MAXI has been the lower-risk option at 12.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SLV has performed better with a 38.96% return vs 10.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLV is cheaper with a 0.50% expense ratio, compared with 1.31% for MAXI.
MAXI has the higher dividend yield at 68.81%, compared with 0.00% for SLV.
SLV is categorized as Silver, while MAXI is Cryptocurrency. They also come from different issuers: iShares and Simplify. Their fees differ too: 0.50% for SLV and 1.31% for MAXI.
SLV currently has the higher Sharpe Ratio (1.32 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.
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