Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
BTCI has outpaced MAXI over the trailing twelve months, posting a -26.67% total return against -37.07%. Measured from Oct 2024 — the start of shared available history — BTCI has compounded at 9.52% a year versus 3.37% for MAXI. BTCI has been the steadier holding, though — annualized volatility of 40.6% against 72.4% for MAXI. Figures are total returns: price change plus every distribution reinvested.
Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 2, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Oct 2024” measures every fund from October 17, 2024 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. 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 past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Distribution rate and SEC yield
Metric
BTCI
MAXI
Forward distribution rate
25.42%
3.93%
Trailing 12-month yield
29.88%
19.77%
30-day SEC yield
1.35%
—
Total return (price change plus reinvested distributions) is the Total returns section above. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.
Seeks to generate high monthly income with potential appreciation through bitcoin exposure.
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.
Bottom lineChoose BTCI if you want to maximize current income — roughly 25.42%, generated by selling options premium. Choose MAXI if you want straightforward Bitcoin exposure for the long run. BTCI and MAXI both use option or derivative overlays. Their tradeoff is the underlying exposure, how each option strategy is implemented, and the yield each targets; either overlay can limit upside participation, so neither offers uncapped price exposure.
BTCI vs MAXI: two bitcoin income overlays
Both sell bitcoin upside for cash. Overlay design and cost should drive the choice, not which yield is larger on one date.
BTCI
MAXI
Issuer
NEOS
Simplify
Expense ratio
0.98%
1.31%
Distribution rate
25.42%
3.93%
How the risk works
Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.
Capped upside and premium dependence. BTCI generates income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.
Crypto volatility. BTCI and MAXI sit on top of crypto-asset prices, which routinely swing far more than equities. A single drawdown can exceed a year of distributions, so income projections deserve extra skepticism here.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
NEOS is known for developing specialized income-focused ETFs that employ strategies like covered calls, hedging, and enhanced yields across various asset classes. The firm manages 19 funds organized into nine distinct families, including offerings in equity high income, fixed income enhancement, digital assets, and alternative strategies, with popular tickers like SPYI (S&P 500 covered call), QQQI (Nasdaq-100 covered call), and QQQH (Nasdaq-100 hedged equity income). NEOS distinguishes itself in the ETF landscape through its emphasis on income generation and downside protection strategies rather than traditional growth approaches.
See our curated list of related YouTube videos on BTCI.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Simplify ETFs is known for offering sophisticated, strategy-driven funds that cater to investors seeking alternatives to traditional passive indexing. The issuer's lineup spans income-focused strategies including covered call and high-yield approaches, along with thematic and commodity-based funds, alternative investments, and fixed income products across bonds and money market instruments. The platform serves a niche audience interested in tactical and specialized strategies, with tickers like FOXY (covered calls on micro-cap stocks), HARD (physical commodities), and CTA (trend-following) exemplifying their focus on non-traditional investment approaches.
See our curated list of related YouTube videos on MAXI.
BTCI (NEOS Bitcoin High Income ETF) and MAXI (Simplify Bitcoin Strategy PLUS Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.
BTCI offers the higher yield at 25.42% vs 3.93% for MAXI. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
BTCI is cheaper with an expense ratio of 0.98% compared to 1.31%.
They have different reference exposures: BTCI is linked to Bitcoin ETPs while MAXI is linked to Bitcoin, which means their performance drivers differ.
BTCI is the larger fund by assets ($1.38B), but assets alone do not establish trading costs or liquidity.
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On a $10,000 investment, BTCI would generate roughly $211.83 cash per distribution, while MAXI would produce $32.75 cash per distribution, at current distribution rates. Both pay monthly distributions.
BTCI yield25.42%
MAXI yield3.93%
Cash diff on $10K$179.08
Cost & efficiency
Over 10 years on $10,000, BTCI would cost approximately $980 in fees vs $1,310 for MAXI (simplified, not compounded). The $330.00 difference may be offset by yield or performance.
BTCI ER0.98%
MAXI ER1.31%
Strategy & risk
BTCI tracks Bitcoin ETPs with a crypto approach, while MAXI tracks Bitcoin with an options approach. Beta is 1.48 for BTCI and 3.274 for MAXI, making BTCI the less volatile of the two by this measure.
BTCI beta1.48
MAXI beta3.274
Fund details
BTCI is managed by NEOS (launched 10/16/2024) with $1.38B in assets. MAXI is managed by Simplify ETFs (launched 09/29/2022) with $38.7M in assets.
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Frequently asked questions
What is the difference between BTCI and MAXI?
Both take bitcoin exposure and sell options for cash. BTCI (NEOS Bitcoin High Income ETF) is NEOS's high-income overlay. MAXI (Simplify Bitcoin Strategy PLUS Income ETF) is Simplify's bitcoin strategy plus income. Cost is 0.98% versus 1.31%; distributions are 25.42% and 3.93% as of October 2026. Overlay design, not which yield is larger on one date, is the decision. Neither is spot bitcoin.
What is the current distribution rate for BTCI and MAXI?
BTCI currently distributes 25.42% and MAXI 3.93%, based on fund data updated October 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is BTCI or MAXI better for dividend income?
It depends on your goals. BTCI 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.
Can I hold both BTCI 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.
Is BTCI or MAXI safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — MAXI scores 56, BTCI scores 51, so MAXI's payout currently looks the more resilient of the two. BTCI has also shown lower price volatility (beta 1.48 vs 3.27 for MAXI). No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.
Which has lower fees, BTCI or MAXI?
BTCI has an expense ratio of 0.98% 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 BTCI vs MAXI generate?
At current rates, $10,000 in BTCI would generate roughly $211.83 cash per distribution ($2,542.00 annually). The same in MAXI would produce about $32.75 cash per distribution ($393.00 annually).
Which has performed better historically, BTCI or MAXI?
BTCI has outpaced MAXI over the trailing twelve months, posting a -26.67% total return against -37.07%. Measured from Oct 2024 — the start of shared available history — BTCI has compounded at 9.52% a year versus 3.37% for MAXI. BTCI has been the steadier holding, though — annualized volatility of 40.6% against 72.4% for MAXI. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
The gap in their income profiles—and the structural choices behind each—makes them distinct products for different investor risk appetites. BTCI has $1.38B in assets and 1 year of trading history (inception 10/16/2024), while MAXI holds $38.7M and dates to 09/29/2022, making MAXI the longer-established of the two but far smaller. On fees, BTCI charges 0.98% versus MAXI's 1.31%, though that difference narrows meaningfully when MAXI's yield is lower.
MAXI: Investors who want Bitcoin leverage and options-based income without sacrificing as much upside, and who can tolerate higher leverage, options complexity, and the tax complications of futures-based strategies in pursuit of growth alongside modest yield. Monitor whether distributions begin to exceed realized gains. Investors holding during a prolonged bull market may lag an unhedged Bitcoin position.
Futures and leverage risk in MAXI. Bitcoin futures introduce roll costs, basis risk, and leverage amplification; MAXI's 3.274 reflects this amplification. Drawdowns can be steeper and faster than spot Bitcoin alone.
Options complexity and assignment risk. Both funds run options strategies daily. BTCI's calls may be assigned, forcing position turnover; MAXI's broader options tactics introduce counterparty and liquidity risk in volatile markets.
Cryptocurrency volatility and regulatory risk. Both ETFs depend on Bitcoin's price stability and benefit from a stable regulatory environment for crypto assets. Changes in SEC, CFTC, or international policy could affect both strategy viability and underlying asset value. Past performance does not predict future results.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
Learn the method
The metrics behind this comparison, explained in the Academy.
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