TYA vs. MAXI

Last updated Jun 4, 2026

TYA (Simplify Intermediate Term Treasury Futures Strategy ETF) and MAXI (Simplify Bitcoin Strategy PLUS Income ETF) are both exchange-traded funds - TYA is a Government Bonds fund actively managed by Simplify, while MAXI is a Cryptocurrency fund actively managed by Simplify. Both are actively managed. Over the past 3 years, TYA returned -2.45%/yr vs 11.19%/yr for MAXI. At a 0.02 correlation, their price movements are largely independent. TYA charges 0.15%/yr vs 0.97%/yr for MAXI.

Performance

TYA vs. MAXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) and Simplify Bitcoin Strategy PLUS Income ETF (MAXI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TYA achieves a -5.08% return, which is significantly higher than MAXI's -33.46% return.

TYA

• 1D: -0.63%
• 1M: -0.93%
• YTD: -5.08%
• 6M: -6.88%
• 1Y: 2.03%
• 3Y*: -2.45%
• 5Y*: —
• 10Y*: —

MAXI

• 1D: -2.93%
• 1M: -20.54%
• YTD: -33.46%
• 6M: -42.63%
• 1Y: -60.98%
• 3Y*: 11.19%
• 5Y*: —
• 10Y*: —

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

TYA vs. MAXI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TYA Simplify Intermediate Term Treasury Futures Strategy ETF	-5.08%	14.38%	-9.63%	-2.23%	0.33%
MAXI Simplify Bitcoin Strategy PLUS Income ETF	-33.46%	-28.59%	92.92%	144.12%	-13.34%

Correlation

The correlation between TYA and MAXI is 0.09, 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	0.09
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	0.02

TYA vs. MAXI - Sectors Allocation Comparison

Sectors	TYA	MAXI
Financial Services	24.7%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	100.0%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

TYA vs. MAXI — Risk / Return Rank

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

TYA

TYA Risk / Return Rank: 10
TYA Sharpe Ratio Rank: 11
TYA Sortino Ratio Rank: 10
TYA Omega Ratio Rank: 10
TYA Calmar Ratio Rank: 10
TYA Martin Ratio Rank: 11

MAXI

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

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.

TYA vs. MAXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) 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.

	TYA	MAXI	Difference
Sharpe ratio: Return per unit of total volatility	0.16	-0.93	+1.09
Sortino ratio: Return per unit of downside risk	0.32	-1.49	+1.81
Omega ratio: Gain probability vs. loss probability	1.04	0.84	+0.20
Calmar ratio: Return relative to maximum drawdown	0.17	-0.92	+1.09
Martin ratio: Return relative to average drawdown	0.49	-1.43	+1.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TYA vs. MAXI - Sharpe Ratio Comparison

The current TYA Sharpe Ratio is 0.16, which is higher than the MAXI Sharpe Ratio of -0.93. The chart below compares the historical Sharpe Ratios of TYA 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.

Sharpe Ratios by Period

	TYA	MAXI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	-0.93	+1.09
Sharpe Ratio (All Time) Calculated using the full available price history	-0.51	0.31	-0.83

Drawdowns

TYA vs. MAXI - Drawdown Comparison

The maximum TYA drawdown since its inception was -51.15%, smaller than the maximum MAXI drawdown of -66.78%. Use the drawdown chart below to compare losses from any high point for TYA and MAXI.

Drawdown Indicators

	TYA	MAXI	Difference
Max Drawdown Largest peak-to-trough decline	-51.15%	-66.78%	+15.63%
Max Drawdown (1Y) Largest decline over 1 year	-11.80%	-66.78%	+54.98%
Max Drawdown (3Y) Largest decline over 3 years	-22.51%	-66.78%	+44.27%
Current Drawdown Current decline from peak	-41.49%	-66.27%	+24.78%
Average Drawdown Average peak-to-trough decline	-35.85%	-18.74%	-17.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.17%	42.76%	-38.59%

Volatility

TYA vs. MAXI - Volatility Comparison

The current volatility for Simplify Intermediate Term Treasury Futures Strategy ETF (TYA) is 4.11%, while Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a volatility of 11.92%. This indicates that TYA 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

	TYA	MAXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.11%	11.92%	-7.81%
Volatility (6M) Calculated over the trailing 6-month period	8.81%	45.84%	-37.03%
Volatility (1Y) Calculated over the trailing 1-year period	12.91%	65.83%	-52.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.57%	63.81%	-43.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.57%	63.81%	-43.24%

TYA vs. MAXI - Expense Ratio Comparison

TYA has a 0.15% expense ratio, which is lower than MAXI's 0.97% expense ratio.

Dividends

TYA vs. MAXI - Dividend Comparison

TYA's dividend yield for the trailing twelve months is around 3.87%, less than MAXI's 66.33% yield.

Position	TTM	2025	2024	2023	2022	2021
MAXI Simplify Bitcoin Strategy PLUS Income ETF	66.33%	49.00%	32.06%	29.63%	4.43%	0.00%
TYA Simplify Intermediate Term Treasury Futures Strategy ETF	3.87%	3.85%	4.84%	4.28%	2.23%	0.11%

Frequently Asked Questions

Can I hold both TYA and MAXI in my portfolio?

TYA and MAXI have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TYA or MAXI?

MAXI has higher volatility (11.92%) compared to TYA (4.11%). In terms of maximum drawdown, TYA dropped -51.15% vs MAXI's -66.78%.

Which ETF is better, TYA or MAXI?

On 3-year performance, MAXI leads with 11.19% vs -2.45% for TYA. On fees, TYA is cheaper at 0.15% per year. On volatility, TYA has been the lower-risk option at 4.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TYA or MAXI?

Over the 3-year period, MAXI has performed better with a 11.19% return vs -2.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TYA or MAXI?

TYA is cheaper with a 0.15% expense ratio, compared with 0.97% for MAXI.

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

MAXI has the higher dividend yield at 66.33%, compared with 3.87% for TYA.

What is the main difference between TYA and MAXI?

TYA is categorized as Government Bonds, while MAXI is Cryptocurrency. Their fees differ too: 0.15% for TYA and 0.97% for MAXI.

Which has better risk-adjusted returns?

TYA currently has the higher Sharpe Ratio (0.16 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.