A head-to-head comparison of ProShares Bitcoin Strategy ETF and Simplify Bitcoin Strategy PLUS Income ETF covering yield, cost, risk, and income potential.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
ProShares is known for offering leveraged and inverse ETFs that provide amplified exposure to market movements, along with thematic and income-focused strategies. Their fund lineup spans digital assets (including Bitcoin and Ethereum exposure through BITO and EETH), dividend strategies like the Dividend Aristocrats fund (NOBL), covered call income strategies, and leveraged/inverse products that track major indices with 2x or 3x daily multipliers (such as SSO and TQQQ for tech-heavy portfolios). With 23 ETFs across specialized families including leveraged products, money market funds, and sector-specific offerings, ProShares serves investors seeking both traditional income and alternative exposure strategies.
See our curated list of related YouTube videos on BITO.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Simplify ETFs is known for creating specialized alternatives and income-focused strategies that cater to investors seeking non-traditional exposure and enhanced yield opportunities. The issuer's 13-fund lineup spans alternatives, bonds, commodities, income, money market, and target distribution strategies, with notable tickers including SVOL (a volatility-focused fund), CAS and CTA (alternative/commodity-based), and HIGH (a high-yield income strategy). The firm distinguishes itself through its emphasis on simplifying complex investment strategies and offering niche products designed to address specific investor objectives across multiple asset classes.
See our curated list of related YouTube videos on MAXI.
Seeks to provide current income and capital appreciation with a focus on Bitcoin exposure through a strategy that combines Bitcoin futures with income-generating options strategies.
Asset class
Equity
Equity
Inception date
10/18/2021
03/29/2023
Beta
1.8778
3.274
Last dividend
$0.0104
$0.0800
Ex-dividend date
07/01/2026
06/25/2026
Bottom lineChoose BITO if you want straightforward Bitcoin exposure for the long run. Choose MAXI if you want to maximize current income — roughly 10.41%, generated by selling options premium. There's no free lunch: MAXI's payout comes from selling options, which caps upside and can erode the share price over time, while BITO keeps full price exposure.
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
BITO has outpaced MAXI over the trailing twelve months, posting a -45.07% total return against -61.84%. The lead holds up over 3 years too: BITO has compounded at 19.65% a year, against 7.50% for MAXI. BITO has been the steadier holding, though — annualized volatility of 49.3% against 64.6% for MAXI. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 10, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Sep 2022” measures every fund from September 30, 2022 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Quick verdict
BITO (ProShares Bitcoin Strategy ETF) and MAXI (Simplify Bitcoin Strategy PLUS Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.
MAXI offers the higher yield at 10.41% vs 1.44% for BITO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
BITO is cheaper with an expense ratio of 0.95% compared to 1.31%.
They track different benchmarks: BITO is linked to Bitcoin Futures while MAXI tracks Bitcoin, which means their performance drivers differ.
BITO is the larger fund by assets ($1.44B), which generally means tighter spreads and better liquidity.
Who should choose each?
Choose BITO
ProShares Bitcoin Strategy ETF
Want straightforward Bitcoin exposure for long-term appreciation, not income.
Want to keep costs low — a 0.95% expense ratio vs 1.31% for MAXI.
Prefer lower volatility — a beta of 1.9 vs 3.3 for MAXI.
Choose MAXI
Simplify Bitcoin Strategy PLUS Income ETF
Want to maximize current income — MAXI distributes roughly 10.41% from selling options premium, vs 1.44% for BITO.
Want crypto exposure that pays income rather than waiting on price alone.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Deep dive
Yield & income
On a $10,000 investment, BITO would generate roughly $12.00/month, while MAXI would produce $86.75/month, at current distribution rates. Both pay monthly distributions.
BITO yield1.44%
MAXI yield10.41%
Monthly diff on $10K$74.75
Cost & efficiency
Over 10 years on $10,000, BITO would cost approximately $950 in fees vs $1,310 for MAXI (simplified, not compounded). The $360.00 difference may be offset by yield or performance.
BITO ER0.95%
MAXI ER1.31%
Strategy & risk
BITO tracks Bitcoin Futures with a futures-based approach, while MAXI tracks Bitcoin with a crypto approach. Beta is 1.8778 for BITO and 3.274 for MAXI, indicating BITO is less volatile relative to the market.
BITO beta1.8778
MAXI beta3.274
Fund details
BITO is managed by ProShares (launched 10/18/2021) with $1.44B in assets. MAXI is managed by Simplify ETFs (launched 03/29/2023) with $25.4M in assets.
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Frequently asked questions
Is BITO or MAXI better for dividend income?
It depends on your goals. MAXI currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between BITO and MAXI?
BITO (ProShares Bitcoin Strategy ETF) tracks Bitcoin Futures with a futures-based approach, while MAXI (Simplify Bitcoin Strategy PLUS Income ETF) tracks Bitcoin with a crypto approach. They are issued by ProShares and Simplify ETFs respectively.
Can I hold both BITO and MAXI?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, BITO or MAXI?
BITO has an expense ratio of 0.95% while MAXI charges 1.31%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in BITO vs MAXI generate?
At current rates, $10,000 in BITO would generate roughly $12.00 per month ($144.00 annually). The same in MAXI would produce about $86.75 per month ($1,041.00 annually).
Which has performed better historically, BITO or MAXI?
BITO has outpaced MAXI over the trailing twelve months, posting a -45.07% total return against -61.84%. The lead holds up over 3 years too: BITO has compounded at 19.65% a year, against 7.50% for MAXI. BITO has been the steadier holding, though — annualized volatility of 49.3% against 64.6% for MAXI. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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