XV vs. MAXI

Last updated Jun 4, 2026

XV (Simplify Target 15 Distribution ETF) and MAXI (Simplify Bitcoin Strategy PLUS Income ETF) are both exchange-traded funds - XV is a Derivative Income fund actively managed by Simplify, while MAXI is a Cryptocurrency fund actively managed by Simplify. Both are actively managed. Over the past year, XV returned 13.08% vs -60.98% for MAXI. At a 0.45 correlation, their price movements are largely independent. XV charges 0.75%/yr vs 0.97%/yr for MAXI.

Performance

XV vs. MAXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Target 15 Distribution ETF (XV) 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, XV achieves a 3.17% return, which is significantly higher than MAXI's -33.46% return.

XV

• 1D: -0.40%
• 1M: 1.21%
• YTD: 3.17%
• 6M: 2.76%
• 1Y: 13.08%
• 3Y*: —
• 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)

XV vs. MAXI - Yearly Performance Comparison

	2026 (YTD)	2025
XV Simplify Target 15 Distribution ETF	3.17%	16.13%
MAXI Simplify Bitcoin Strategy PLUS Income ETF	-33.46%	-9.98%

Correlation

The correlation between XV and MAXI is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Apr 16, 2025	0.45

XV vs. MAXI - Sectors Allocation Comparison

Sectors	XV	MAXI
Financial Services	78.4%	-
Technology	33.1%	-
Communication Services	10.7%	-
Consumer Cyclical	10.1%	100.0%
Healthcare	9.8%	-
Industrials	8.7%	-
Consumer Defensive	5.4%	-
Energy	3.5%	-
Utilities	2.5%	-
Real Estate	2.0%	-
Basic Materials	1.9%	-

Return for Risk

XV vs. MAXI — Risk / Return Rank

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

XV

XV Risk / Return Rank: 44
XV Sharpe Ratio Rank: 40
XV Sortino Ratio Rank: 41
XV Omega Ratio Rank: 39
XV Calmar Ratio Rank: 46
XV Martin Ratio Rank: 52

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.

XV vs. MAXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Target 15 Distribution ETF (XV) 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.

	XV	MAXI	Difference
Sharpe ratio: Return per unit of total volatility	1.42	-0.93	+2.35
Sortino ratio: Return per unit of downside risk	2.09	-1.49	+3.58
Omega ratio: Gain probability vs. loss probability	1.25	0.84	+0.42
Calmar ratio: Return relative to maximum drawdown	2.29	-0.92	+3.21
Martin ratio: Return relative to average drawdown	8.72	-1.43	+10.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XV vs. MAXI - Sharpe Ratio Comparison

The current XV Sharpe Ratio is 1.42, which is higher than the MAXI Sharpe Ratio of -0.93. The chart below compares the historical Sharpe Ratios of XV 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

	XV	MAXI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	-0.93	+2.35
Sharpe Ratio (All Time) Calculated using the full available price history	1.62	0.31	+1.31

Drawdowns

XV vs. MAXI - Drawdown Comparison

The maximum XV drawdown since its inception was -5.73%, smaller than the maximum MAXI drawdown of -66.78%. Use the drawdown chart below to compare losses from any high point for XV and MAXI.

Drawdown Indicators

	XV	MAXI	Difference
Max Drawdown Largest peak-to-trough decline	-5.73%	-66.78%	+61.05%
Max Drawdown (1Y) Largest decline over 1 year	-5.73%	-66.78%	+61.05%
Max Drawdown (3Y) Largest decline over 3 years	—	-66.78%	—
Current Drawdown Current decline from peak	-0.42%	-66.27%	+65.85%
Average Drawdown Average peak-to-trough decline	-0.98%	-18.74%	+17.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.50%	42.76%	-41.26%

Volatility

XV vs. MAXI - Volatility Comparison

The current volatility for Simplify Target 15 Distribution ETF (XV) is 2.09%, while Simplify Bitcoin Strategy PLUS Income ETF (MAXI) has a volatility of 11.92%. This indicates that XV 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

	XV	MAXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.09%	11.92%	-9.83%
Volatility (6M) Calculated over the trailing 6-month period	5.97%	45.84%	-39.87%
Volatility (1Y) Calculated over the trailing 1-year period	9.31%	65.83%	-56.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.77%	63.81%	-53.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.77%	63.81%	-53.04%

XV vs. MAXI - Expense Ratio Comparison

XV has a 0.75% expense ratio, which is lower than MAXI's 0.97% expense ratio.

Dividends

XV vs. MAXI - Dividend Comparison

XV's dividend yield for the trailing twelve months is around 19.22%, less than MAXI's 66.33% yield.

Position	TTM	2025	2024	2023	2022
MAXI Simplify Bitcoin Strategy PLUS Income ETF	66.33%	49.00%	32.06%	29.63%	4.43%
XV Simplify Target 15 Distribution ETF	19.22%	13.87%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XV and MAXI in my portfolio?

XV and MAXI have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XV or MAXI?

MAXI has higher volatility (11.92%) compared to XV (2.09%). In terms of maximum drawdown, XV dropped -5.73% vs MAXI's -66.78%.

Which ETF is better, XV or MAXI?

On 1-year performance, XV leads with 13.08% vs -60.98% for MAXI. On fees, XV is cheaper at 0.75% per year. On volatility, XV has been the lower-risk option at 2.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XV or MAXI?

Over the 1-year period, XV has performed better with a 13.08% return vs -60.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XV or MAXI?

XV is cheaper with a 0.75% expense ratio, compared with 0.97% for MAXI.

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

MAXI has the higher dividend yield at 66.33%, compared with 19.22% for XV.

What is the main difference between XV and MAXI?

XV is categorized as Derivative Income, while MAXI is Cryptocurrency. Their fees differ too: 0.75% for XV and 0.97% for MAXI.

Which has better risk-adjusted returns?

XV currently has the higher Sharpe Ratio (1.42 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.