MAXI vs SPY
Simplify Bitcoin Strategy ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | MAXI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.31% | 0.09% | |
| AUM | $26M | $789.1B | |
| Dividend Yield | 67.57% | 1.01% | |
| Holdings | 11 | 505 | |
| YTD Return | -35.96% | +13.79% | |
| 1Y Return | -63.92% | +23.66% | |
| 3Y Return (annualized) | +6.22% | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 59.0% | 15.3% | |
| Max Drawdown | -69.8% | -56.5% | |
| Fund Family | Simplify Exchange Traded Funds | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Sep 29, 2022 | Jan 22, 1993 |
MAXI vs SPY Performance
Simplify Bitcoin Strategy ETF (MAXI) is a ETF from Simplify Exchange Traded Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MAXI returned -63.92% while SPY returned +23.66%. Year to date, MAXI is down 35.96% versus a gain of 13.79% for SPY.
Over three years, MAXI compounded at +6.22% per year against +21.40% for SPY. Across the full 4-year window we track, MAXI has the edge at +17.44% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MAXI has been the more volatile fund, with annualized monthly volatility of 59.0% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -69.8% for MAXI and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.40. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MAXI charges 1.31% per year while SPY charges 0.09%. On a $10,000 position that is $131 vs $9 annually, a gap of $122 per year that compounds over a long holding period. On income, MAXI currently yields 67.57% against 1.01% for SPY.
Holdings Overlap
MAXI and SPY share 0 holdings out of 504 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, MAXI or SPY?
MAXI has an expense ratio of 1.31% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $122 per year of difference.
Which performed better, MAXI or SPY?
Over the past year MAXI returned -63.92% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), MAXI annualized +17.44% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, MAXI or SPY?
MAXI has been the more volatile fund at 59.0% annualized versus 15.3% for SPY. Worst drawdown: MAXI -69.8% vs SPY -56.5%.
Should I hold both MAXI and SPY?
MAXI and SPY have a monthly-return correlation of 0.40, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MAXI and SPY?
MAXI and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, MAXI or SPY?
MAXI yields 67.57% while SPY yields 1.01%, so MAXI currently pays the higher dividend yield.
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