Skip to content
etf.net

BAGY vs MAXI

Amplify Bitcoin Max Income Covered Call ETF

BAGYBCboe

Simplify Bitcoin Strategy PLUS Income ETF

MAXIFNasdaq

Overlap

Expense ratio

BAGY −0.87pt a year

BAGY0.65%MAXI1.52%

Avg volume · 30D

MAXI 5.6×the volume

BAGY4.27KMAXI23.8K

BAGY vs MAXI Performance

Oct 31, 2025 – Oct 30, 2026

−39.2%BAGY−42.8%MAXI

Oct 31, 2025 to Oct 30, 2026. BAGY −39.2%. MAXI −42.8%. Use the arrow keys to read each point.−60%−30%−20%−10%0%Oct 2025Apr 2026Oct 2026
Expense ratio
BAGY 0.65%, better
MAXI 1.52%
Fund size
BAGY $9M
MAXI $29M
1Y total return
BAGY −39.2%, better
MAXI −42.8%
Yield (12M)
BAGY 47.85%, better
MAXI 16.89%
Holdings
BAGY 4
MAXI 15
Avg volume (30D)
BAGY 4.27K sh
MAXI 23.8K sh, better
NAV per share
BAGY $20.12
MAXI $12.27
52W range

ETF.net Grade

BAGY: Cost 90, Risk 36, Mission not scored, Tradability 58, Holdings 46, Durability 54. MAXI: Cost 0, Risk 27, Mission not scored, Tradability 48, Holdings not scored, Durability 70.
Pillar letters and Scores for BAGY, MAXI, with each pillar’s weight
PillarBAGYMAXI
Cost30% weightA90HigherF0
Mission25% weightNot scoredNot scored
Risk15% weightD36HigherD27
Tradability15% weightB58HigherC48
Holdings10% weightC46Not scored
Durability5% weightC54A70Higher

Rank among Crypto Option Income funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BAGY and MAXI are both graded against the same 21 Crypto Option Income funds, so their Grades compare head to head.

Crypto Option Income⁠

Category · 21 funds
See all 21 ›

BAGY ranks 3rd and MAXI 21st of 21 funds in the Crypto Option Income Category.

  1. Rank 1ABITAThe iShares Bitcoin Premium Income ETFScore 88
  2. Rank 2BBTCCGrayscale Funds TrustScore 70
  3. Rank 3BBAGYAmplify Bitcoin Max Income Covered Call ETFScore 64
  4. Rank 3BCEPIREX Crypto Equity Premium Income ETFScore 64
  5. Rank 20FXEYGraniteShares YieldBOOST Ether ETFScore 24
  6. Rank 21FMAXISimplify Bitcoin Strategy PLUS Income ETFScore 22

Our read on each fund

ETF.net Research

BAGYBAmplify Bitcoin Max Income Covered Call ETF

MAXIFSimplify Bitcoin Strategy PLUS Income ETF

In short

BAGY Most bitcoin income funds sell calls on futures or on crypto-adjacent stocks. BAGY works off bitcoin ETPs and options on them, harvesting premium and paying it out monthly.

MAXI Bitcoin exposure with a side job. MAXI pairs bitcoin futures and bitcoin-linked ETPs with an actively managed options overlay aimed at income as well as price, priced like the hands-on strategy it is.

Stated mandate

BAGY The Fund seeks to maximize current income through a covered-call strategy tied to Bitcoin price-return exposure. It uses Bitcoin ETPs and Bitcoin ETP Options to obtain exposure and generate option-premium income.

MAXI The Fund seeks income and capital appreciation through Bitcoin exposure obtained via Bitcoin futures and/or Bitcoin-related exchange-traded products, together with an actively managed options overlay.

Why people hold it

  • BAGY A 0.65% expense ratio, under the typical fee in its crypto option-income cohort and below peers like CEPI and DFII at 0.85%.
  • Clean plumbing: bitcoin price exposure via ETPs, income via options on those ETPs, all inside a standard 1940 Act fund rather than a commodity partnership.amplifyetfs.com
  • Income is the stated mission, not a side effect: the fund targets option premium and distributes monthly.amplifyetfs.com
  • Among the stronger builds in a crowded field of crypto covered-call funds, helped by cost discipline.
  • MAXI Not a plain covered-call sleeve: bitcoin exposure via futures and bitcoin-related ETPs, wrapped in an actively managed options overlay targeting income and capital appreciation.simplify.us
  • Trading since 2022, an early entrant in the bitcoin-plus-income niche with a multi-year operating history behind it.
  • Runs inside the standard 1940 Act ETF wrapper, from a shop that also builds the equity-plus-bitcoin version, SPBC.

Worth knowing

  • BAGY Selling calls trades away part of bitcoin's upside for premium. Downside moves in bitcoin still come through.amplifyetfs.com
  • The monthly payout is not all investment income: the fund discloses that distributions can include return of capital, which chips at your cost basis.amplifyetfs.com
  • Launched in 2025 and still small, with lighter trading than the category's biggest names, so bid-ask spreads can run wider.
  • MAXI The overlay costs money: 1.31% a year, above the typical fee in its crypto-income group. Cheaper routes exist, such as BTCI at 0.99% and CEPI at 0.85%.
  • Small and thinly traded, so spreads can be wide. Limit orders do real work here.
  • Distributions are irregular rather than a set monthly check, and derivative-based bitcoin exposure can behave differently from holding spot.

Full BAGY profile⁠

Full MAXI profile⁠

BAGY vs MAXI Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BAGY vs MAXI Cost

Overpaying MAXI vs BAGY

$13,849

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BAGY 0.65%

    $12,717

  • MAXI 1.52%

    $26,566

$10,000
30 years

Cost over time

  • BAGY 0.65%
  • MAXI 1.52%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530MAXI $26,566BAGY $12,717

Year by year

YearBAGYMAXIOverpaying
10$1,163$2,622$1,459
20$4,440$9,630$5,190
30$12,717$26,566$13,849

Expense ratio

  • 0.65%BAGY, cheaper
  • 1.52%MAXI
  • Middle half of Crypto Option Income funds
  • Median 0.85%

BAGY cheapest of 21 funds

MAXI 21st cheapest of 21 funds

BAGY vs MAXI Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
BAGY 47.85%, better
MAXI 16.89%
Payout (12M)
BAGY $9.95
MAXI $2.07
Last payment
BAGY $0.56
MAXI $0.05
Ex-dividend
BAGY Oct 29, 2026
MAXI Oct 27, 2026
Paid on
BAGY Oct 30, 2026
MAXI Oct 30, 2026
Frequency
BAGY Monthly
MAXI Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

BAGYMonthly · 18 paymentsAll BAGY payments⁠
One bar per payment. 18 payments from 2023 to 2026 YTD. May 29, 2025 $1.46; Jun 27, 2025 $1.41; Jul 30, 2025 $1.50; Aug 28, 2025 $1.39; Sep 29, 2025 $1.53; Oct 30, 2025 $1.50; Nov 26, 2025 $1.15; Dec 30, 2025 $1.13; Jan 29, 2026 $1.14; Feb 26, 2026 $0.91; Mar 30, 2026 $0.97; Apr 29, 2026 $0.95; May 28, 2026 $0.74; Jun 29, 2026 $0.56; Jul 30, 2026 $0.58; Aug 28, 2026 $0.61; Sep 29, 2026 $0.64; Oct 29, 2026 $0.56. Use the arrow keys to read each point.$0$2.5020232026YTD
MAXIMonthly · 43 paymentsAll MAXI payments⁠
One bar per payment. 43 payments from 2023 to 2026 YTD. Feb 23, 2023 $0.15; Mar 27, 2023 $0.15; Apr 25, 2023 $0.15; May 25, 2023 $0.15; Jun 27, 2023 $0.15; Jul 26, 2023 $0.15; Aug 28, 2023 $0.15; Sep 27, 2023 $0.15; Oct 26, 2023 $0.15; Nov 27, 2023 $0.15; Dec 26, 2023 $4.18; Jan 26, 2024 $0.15; Feb 26, 2024 $0.15; Mar 25, 2024 $0.15; Apr 25, 2024 $0.15; May 24, 2024 $0.15; Jun 25, 2024 $0.15; Jul 26, 2024 $1.00; Aug 27, 2024 $1.00; Sep 25, 2024 $1.00; Oct 28, 2024 $1.00; Nov 25, 2024 $2.00; Dec 23, 2024 $1.67; Jan 28, 2025 $0.15; Feb 25, 2025 $0.10; Mar 26, 2025 $0.10; Apr 25, 2025 $0.30; May 27, 2025 $0.50; Jun 25, 2025 $0.35; Jul 28, 2025 $1.00; Aug 26, 2025 $1.00; Sep 25, 2025 $1.00; Oct 28, 2025 $1.00; Nov 21, 2025 $1.00; Dec 23, 2025 $0.51; Jan 27, 2026 $0.10; Apr 27, 2026 $0.10; May 26, 2026 $0.10; Jun 25, 2026 $0.08; Jul 28, 2026 $0.03; Aug 26, 2026 $0.05; Sep 25, 2026 $0.05; Oct 27, 2026 $0.05. Use the arrow keys to read each point.$0$2.5020232026YTD

BAGY vs MAXI Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BAGY 36.4%since Jun 2025MAXI 69.0%
Return per unit of riskSharpe ratio, 3 years
BAGY −0.85since Jun 2025MAXI 0.44
Worst fallMax drawdown, 5 years
BAGY −50.6%since May 2025MAXI −69.5%since Sep 2022
Market sensitivityBeta, 5 years
BAGY 1.36MAXI 1.57

Popular comparisons

  • BAGYBvsBITAA

    Amplify Bitcoin Max Income Covered Call ETF · The iShares Bitcoin Premium Income ETF

    Expense ratio
    0.65% · 0.65%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • MAXIFvsBITAA

    Simplify Bitcoin Strategy PLUS Income ETF · The iShares Bitcoin Premium Income ETF

    Expense ratio
    1.52% · 0.65%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • BAGYBvsBTCCB

    Amplify Bitcoin Max Income Covered Call ETF · Grayscale Funds Trust

    Expense ratio
    0.65% · 0.66%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • MAXIFvsBTCCB

    Simplify Bitcoin Strategy PLUS Income ETF · Grayscale Funds Trust

    Expense ratio
    1.52% · 0.66%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • BAGYBvsCEPIB

    Amplify Bitcoin Max Income Covered Call ETF · REX Crypto Equity Premium Income ETF

    Expense ratio
    0.65% · 0.85%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • MAXIFvsCEPIB

    Simplify Bitcoin Strategy PLUS Income ETF · REX Crypto Equity Premium Income ETF

    Expense ratio
    1.52% · 0.85%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.