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ETF Comparison

MAXI vs YBIT: Which Is the Better Pick in 2026?

A head-to-head comparison of Simplify Bitcoin Strategy PLUS Income ETF and YieldMax Bitcoin Option Income Strategy ETF covering yield, cost, risk, and income potential.

Updated September 30, 2026

How these figures are calculated: methodology.

Best for

  • MAXIInvestors who want straightforward Bitcoin exposure for the long run.
  • YBITInvestors who want to maximize current income — roughly 40.33%, generated by selling options premium.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

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.

MAXI has lagged YBIT over the trailing twelve months, posting a -35.07% total return against -26.49%. Measured from Apr 2024 — the start of shared available history — MAXI has compounded at -0.25% a year versus -4.37% for YBIT. YBIT has been the steadier holding, though — annualized volatility of 38.0% 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.
SymbolYTD cumulative1Y cumulativeSince Apr 2024Volatility Sharpe Sortino Max drawdown
MAXI6.09%-35.07%-0.25%72.4%-0.66-0.96-69.3%
YBIT-9.53%-26.49%-4.37%38.0%-0.93-1.24-47.5%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 30, 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 Apr 2024” measures every fund from April 23, 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, SEC yield and return of capital

MetricMAXIYBIT
Forward distribution rate3.99%40.33%
Trailing 12-month yield20.07%77.11%
30-day SEC yield—2.21%
Return of capital—94.71%

Total return (price change plus reinvested distributions) is the Total returns section above. Return of capital is the share of a recent distribution that was not income. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.

Total return against the stated underlying is on MAXI vs IBIT, YBIT vs IBIT.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricMAXIYBIT
Full nameSimplify Bitcoin Strategy PLUS Income ETFYieldMax Bitcoin Option Income Strategy ETF
IssuerSimplify ETFsYieldMax
Last Close$15.03 as of September 30, 2026$21.03 as of September 30, 2026
Distribution rate3.99%40.33%
Trailing 12-month yield20.07%77.11%
30-day SEC yield—2.21%
Distribution Safety Score™ 5679
Safety-Adjusted Yield 2.23%31.86%
Expense ratio1.31%1.02%
AUM$38.7M$62.0M
Distribution frequencyMonthlyWeekly
Underlying indexBitcoinBitcoin
ObjectiveSeeks 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.Actively managed fund that seeks weekly income while providing indirect exposure to the share price of U.S.-listed bitcoin exchange-traded products, subject to a limit on potential gains.
Asset classEquityEquity
Inception date09/29/202204/22/2024
Beta3.2741.5424
Last dividend$0.05 payable today$0.1631 declared, pays 10/02/2026
Ex-dividend date09/25/202610/01/2026 upcoming

Bottom lineChoose MAXI if you want straightforward Bitcoin exposure for the long run. Choose YBIT if you want to maximize current income — roughly 40.33%, generated by selling options premium. MAXI and YBIT 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.

How the risk works

Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.

  • Crypto volatility. MAXI and YBIT 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.
  • Capped upside and premium dependence. YBIT 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.

Learn the mechanics: Return of capital, explained · NAV erosion, explained

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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

Simplify ETFs
ETFs42
Total AUM$12.3B

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.

See all Simplify ETFs ETFs
YieldMax
ETFs62
Total AUM$10.1B

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 YBIT.

See all YieldMax ETFs

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Quick verdict

MAXI (Simplify Bitcoin Strategy PLUS Income ETF) and YBIT (YieldMax Bitcoin Option Income Strategy ETF) are both dividend ETFs, but they take different approaches.

YBIT offers the higher yield at 40.33% vs 3.99% for MAXI. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

YBIT is cheaper with an expense ratio of 1.02% compared to 1.31%.

YBIT is the larger fund by assets ($62.0M), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment, MAXI would generate roughly $33.25 cash per distribution, while YBIT would produce $77.56 cash per distribution, at current distribution rates.

MAXI yield3.99%
YBIT yield40.33%
Cash diff on $10K$44.31

Cost & efficiency

Over 10 years on $10,000, MAXI would cost approximately $1,310 in fees vs $1,020 for YBIT (simplified, not compounded). The $290.00 difference may be offset by yield or performance.

MAXI ER1.31%
YBIT ER1.02%

Strategy & risk

Both MAXI and YBIT wrap Bitcoin with options-based income overlays (options and covered call). The practical differences are yield target, fee structure, and issuer track record — not the underlying mechanic. Beta is 3.274 for MAXI and 1.5424 for YBIT, making YBIT the less volatile of the two by this measure.

MAXI beta3.274
YBIT beta1.5424

Fund details

MAXI is managed by Simplify ETFs (launched 09/29/2022) with $38.7M in assets. YBIT is managed by YieldMax (launched 04/22/2024) with $62.0M in assets.

MAXI AUM$38.7M
YBIT AUM$62.0M
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Frequently asked questions

What is the current distribution rate for MAXI and YBIT?

MAXI currently distributes 3.99% and YBIT 40.33%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is MAXI or YBIT better for dividend income?

It depends on your goals. YBIT 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 YBIT?

Both MAXI (Simplify Bitcoin Strategy PLUS Income ETF) and YBIT (YieldMax Bitcoin Option Income Strategy ETF) track Bitcoin with options-based income strategies — the labels "options" and "covered call" describe closely related mechanics (covered calls are a specific type of options strategy). The real differences show up in yield target (3.99% vs 40.33%), expense ratio (1.31% vs 1.02%), and issuer (Simplify ETFs vs YieldMax).

Can I hold both MAXI and YBIT?

You can, but expect significant overlap. Both funds use options-based income strategies on Bitcoin, so holding them together gives you two wrappers around effectively the same exposure — not true diversification. Weigh issuer, fee, and yield differences rather than treating them as complementary.

Is MAXI or YBIT safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — YBIT scores 79, MAXI scores 56, so YBIT's payout currently looks the more resilient of the two. YBIT has also shown lower price volatility (beta 1.54 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, MAXI or YBIT?

MAXI has an expense ratio of 1.31% while YBIT charges 1.02%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in MAXI vs YBIT generate?

At current rates, $10,000 in MAXI would generate roughly $33.25 cash per distribution ($399.00 annually). The same in YBIT would produce about $77.56 cash per distribution ($4,033.00 annually).

Which has performed better historically, MAXI or YBIT?

MAXI has lagged YBIT over the trailing twelve months, posting a -35.07% total return against -26.49%. Measured from Apr 2024 — the start of shared available history — MAXI has compounded at -0.25% a year versus -4.37% for YBIT. YBIT has been the steadier holding, though — annualized volatility of 38.0% against 72.4% for MAXI. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

MAXI vs YBIT — at a glance

Generated September 27, 2026.

Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.

Overview

MAXI and YBIT both use options strategies to generate income from Bitcoin exposure, but they operate on opposite ends of the yield spectrum. The critical difference: YBIT's distribution strategy includes a cap on upside participation, whereas MAXI retains fuller directional exposure to Bitcoin price moves.

How they differ

The most obvious distinction is yield. MAXI, by contrast, pays a more modest monthly income without sacrificing upside capture.

Second, the structural risk profiles diverge sharply. MAXI carries a beta of 3.274, meaning it amplifies Bitcoin's volatility and price swings significantly. YBIT's beta of 1.5424 is lower, a direct result of its covered-call structure—the sold calls dampen both downside and upside moves. Third, YBIT is newer (inception 04/22/2024) with a smaller, fresher asset base at $62.0M, whereas MAXI has been live since 09/29/2022 and manages $38.7M. YBIT's expense ratio is 1.02%, slightly lower than MAXI's 1.31%, but this edge is dwarfed by the yield difference and the structural costs embedded in option selling.

Who each is best for

MAXI: Fits investors who want direct leverage to Bitcoin price appreciation alongside a modest income stream, and who can tolerate amplified volatility without abandoning upside potential.

YBIT: Fits investors who prioritize consistent, predictable weekly cash flow over Bitcoin price capture, and who are comfortable capping their gains in exchange for income stability and lower volatility exposure.

Key risks to know

  • Capped upside in YBIT. The covered-call overlay institutionalizes a ceiling on Bitcoin price gains. If Bitcoin rallies sharply, YBIT holders' share price appreciation will lag a direct Bitcoin position or a non-capped fund—a real economic cost masked by the high distribution rate.
  • NAV erosion at extreme yields. YBIT's 40.33% distribution rate is unsustainably high relative to typical Bitcoin ETP returns. If the underlying Bitcoin position generates less total return than distributions paid, NAV will decline over time, eroding principal.
  • Leverage amplifies drawdowns in MAXI. With a beta of 3.274, MAXI magnifies Bitcoin's downside swings. A 20% Bitcoin decline translates to roughly a 65% move in MAXI, creating steep underwater periods and potential forced liquidations for leveraged holders.
  • Weekly distribution frequency compounds reinvestment timing risk in YBIT. Fifty-two small payouts per year create friction—reinvestment costs, tax lot fragmentation, and vulnerability to market timing across repeated purchase cycles.
  • Options decay as underlying volatility shrinks. Both funds' income depends on options premiums. If Bitcoin's realized volatility falls, option prices compress, and distributions will likely decline alongside—a risk both funds face but that becomes acute at YBIT's payout scale. Both embed options risk and rely on continued premium availability to sustain their stated distributions—a premise worth validating before committing capital. Past performance in volatile crypto markets 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.

How covered-call funds work How to read a fund's stats The covered-call opportunity cost

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These comparisons follow the Dividend Vision methodology.