A head-to-head comparison of Simplify Bitcoin Strategy PLUS Income ETF and YieldMax MSTR Option Income Strategy ETF covering yield, cost, risk, and income potential.
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.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
YieldMax is known for specializing in options-based and income-focused ETFs that emphasize yield generation through covered call strategies and other income-producing methodologies. The firm operates a diverse lineup of 63 funds organized across multiple families including covered call strategies, 0DTE (zero days to expiration) options, double distribution approaches, and various target-date and performance-based portfolios designed to generate regular distributions. Notable offerings span popular underlying assets like major technology stocks and broad market indices, with a particular emphasis on providing enhanced income solutions for investors seeking regular cash flows through options strategies and other tactical approaches.
See our curated list of related YouTube videos on MSTY.
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.
Covered Call
Asset class
Equity
Equity
Inception date
03/29/2023
02/21/2024
Beta
3.274
2.5604
Last dividend
$0.0800
$0.2060
Ex-dividend date
06/25/2026
07/09/2026
Bottom lineChoose MAXI if you want crypto exposure that pays you along the way, not just price gains. Choose MSTY if you want to maximize current income — roughly 83.49%, generated by selling options premium. There's no free lunch: MSTY's payout comes from selling options, which caps upside and can erode the share price over time, while MAXI keeps full price exposure.
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
MAXI has outpaced MSTY over the trailing twelve months, posting a -61.84% total return against -73.50%. Measured from Feb 2024 — when the younger fund began trading — MSTY has compounded at 3.48% a year versus -10.60% 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 Feb 2024” measures every fund from February 22, 2024 — 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 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.
Quick verdict
MAXI (Simplify Bitcoin Strategy PLUS Income ETF) and MSTY (YieldMax MSTR Option Income Strategy ETF) are both dividend ETFs, but they take different approaches.
MSTY offers the higher yield at 83.49% vs 10.41% for MAXI. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
MSTY is cheaper with an expense ratio of 0.99% compared to 1.31%.
They track different benchmarks: MAXI is linked to Bitcoin while MSTY tracks Strategy (MSTR), which means their performance drivers differ.
MSTY is the larger fund by assets ($1.01B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, MAXI would generate roughly $86.75/month, while MSTY would produce $695.75/month, at current distribution rates.
MAXI yield10.41%
MSTY yield83.49%
Monthly diff on $10K$609.00
Cost & efficiency
Over 10 years on $10,000, MAXI would cost approximately $1,310 in fees vs $990 for MSTY (simplified, not compounded). The $320.00 difference may be offset by yield or performance.
MAXI ER1.31%
MSTY ER0.99%
Strategy & risk
MAXI tracks Bitcoin with a crypto approach, while MSTY tracks Strategy (MSTR) with a covered call approach. Beta is 3.274 for MAXI and 2.5604 for MSTY, indicating MSTY is less volatile relative to the market.
MAXI beta3.274
MSTY beta2.5604
Fund details
MAXI is managed by Simplify ETFs (launched 03/29/2023) with $25.4M in assets. MSTY is managed by YieldMax (launched 02/21/2024) with $1.01B in assets.
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Frequently asked questions
Is MAXI or MSTY better for dividend income?
It depends on your goals. MSTY 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 MAXI and MSTY?
MAXI (Simplify Bitcoin Strategy PLUS Income ETF) tracks Bitcoin with a crypto approach, while MSTY (YieldMax MSTR Option Income Strategy ETF) tracks Strategy (MSTR) with a covered call approach. They are issued by Simplify ETFs and YieldMax respectively.
Can I hold both MAXI and MSTY?
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, MAXI or MSTY?
MAXI has an expense ratio of 1.31% while MSTY charges 0.99%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in MAXI vs MSTY generate?
At current rates, $10,000 in MAXI would generate roughly $86.75 per month ($1,041.00 annually). The same in MSTY would produce about $695.75 per month ($8,349.00 annually).
Which has performed better historically, MAXI or MSTY?
MAXI has outpaced MSTY over the trailing twelve months, posting a -61.84% total return against -73.50%. Measured from Feb 2024 — when the younger fund began trading — MSTY has compounded at 3.48% a year versus -10.60% for MAXI. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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