Simplify Bitcoin Strategy PLUS Income ETF (MAXI) Performance
MAXI total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −0.1% since Dec 31, 2025
- 1 year
- −36.1% total return
- 3 years
- +21.6% a year
- Since first price
- +30.1% a year since 2022
MAXI trailing returns vs SPY, QQQ, AGG
| Period | MAXI total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −12.9% | −13.2% | −1.0% | −5.0% | +0.9% |
| 3 months | +48.2% | +46.8% | +3.2% | +1.9% | −0.4% |
| 6 months | +22.1% | +17.6% | +7.8% | +8.4% | −1.5% |
| YTD | −0.1% | −4.4% | +12.3% | +15.1% | −1.0% |
| 1 year | −36.1% | −46.6% | +14.4% | +15.9% | −1.1% |
| 3 years | +80.0%+21.6%/yr | −24.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionSep 30, 2022 | +191.2%+30.1%/yr | +9.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: MAXI vs SPY
From Sep 30, 2022: MAXI grew to $29,120, SPY to $22,410.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MAXI returns by calendar year
2 of 3 full years positive. Best 2023 (+144.1%), worst 2025 (−28.6%). 2026 is year to date.
MAXI annual returns table
| Year | MAXI | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −0.1% | −48.6% | +12.3% | +15.1% | −1.0% |
| 2025 | −28.6% | −51.2% | +17.7% | +20.8% | +7.2% |
| 2024 | +92.9% | −34.5% | +24.9% | +25.6% | +1.3% |
| 2023 | +144.1% | −22.9% | +26.2% | +54.9% | +5.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
MAXI largest drawdowns
Now 49.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Aug 13, 2025 | −69.6% | Jun 30, 2026 | not yet | 11 months | 1.2 years so far |
| Dec 17, 2024 | −52.5% | Apr 8, 2025 | May 13, 2025 | 4 months | 5 months |
| Mar 13, 2024 | −34.5% | Sep 6, 2024 | Nov 11, 2024 | 6 months | 8 months |
| Nov 4, 2022 | −26.0% | Nov 9, 2022 | Jan 17, 2023 | 5 days | 2 months |
| Jul 13, 2023 | −22.9% | Sep 11, 2023 | Oct 24, 2023 | 2 months | 3 months |
| Feb 17, 2023 | −20.4% | Mar 10, 2023 | Mar 14, 2023 | 21 days | 25 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
MAXI risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | +32.1% | +33.8% |
| Volatility (annualized) | 69.1% | 64.8% |
| Sharpe ratio | 0.65 | 0.68 |
| Sortino ratio | 1.26 | 1.34 |
| Best month | +59.5% | +59.5% |
| Worst month | −27.9% | −27.9% |
| Best 12 months | +135.4% | +154.5% |
| Worst 12 months | −64.2% | −64.2% |
| Positive months | 56% | 54% |
| Beta vs S&P 500 | 2.25 | — |
| Correlation with S&P 500 | 0.40 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
MAXI rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 38 | −64.2% | +66.5% | +154.5% | 66% |
| 3-year (a year) | 14 | +3.0% | +24.1% | +70.4% | 100% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
MAXI performance overview
Simplify Bitcoin Strategy PLUS Income ETF (MAXI) returned −36.1% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned +30.1% a year, turning $10,000 into about $29,120. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −69.6%, from Aug 13, 2025 to Jun 30, 2026; the fund has not yet regained that high. MAXI finished 2 of its 3 full calendar years with a gain; the best year was 2023 (+144.1%) and the worst 2025 (−28.6%). Volatility has been 64.8% a year.
Related: MAXI chart, MAXI dividends. See the MAXI overview for the latest quote and fund facts.
MAXI performance FAQ
What is the MAXI return over the past year?
MAXI returned −36.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 46.6%.
How much would $10,000 invested in MAXI be worth?
$10,000 invested in MAXI at its first recorded close on September 30, 2022 would be worth about $29,120 on October 23, 2026 with distributions reinvested.
What was the worst year for MAXI?
The worst calendar year was 2025, with a total return of −28.6%. The best was 2023 at +144.1%.
What is the biggest drawdown of MAXI?
The largest peak-to-trough decline was −69.6% between August 13, 2025 and June 30, 2026. It has not yet recovered to that high; it is 49.3% below its peak.
How volatile is MAXI?
Over the past 3 years MAXI had an annualized volatility of 69.1% and a Sharpe ratio of 0.65 (excess return over 1–3 month T-bills per unit of risk).