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BITA vs MAXI

The iShares Bitcoin Premium Income ETF

BITAANasdaq

Simplify Bitcoin Strategy PLUS Income ETF

MAXIFNasdaq

Overlap

Expense ratio

BITA −0.87pt a year

BITA0.65%MAXI1.52%

Avg volume · 30D

BITA 1.4×the volume

BITA32.3KMAXI23.8K

BITA vs MAXI Performance

Jul 31, 2026 – Oct 30, 2026

+18.0%BITA+41.4%MAXI

Jul 31, 2026 to Oct 30, 2026. BITA +18.0%. MAXI +41.4%. Use the arrow keys to read each point.0%60%80%Jul 2026Sep 2026Oct 2026
Expense ratio
BITA 0.65%, better
MAXI 1.52%
Fund size
BITA $96M
MAXI $29M
1Y total return
BITA No data
MAXI −42.8%
Yield (12M)
BITA No data
MAXI 16.89%
Holdings
BITA 4
MAXI 15
Avg volume (30D)
BITA 32.3K sh, better
MAXI 23.8K sh
NAV per share
BITA $57.98
MAXI $12.27
52W range

ETF.net Grade

BITA: Cost 90, Risk 98, Mission not scored, Tradability 85, Holdings not scored, Durability 61. MAXI: Cost 0, Risk 27, Mission not scored, Tradability 48, Holdings not scored, Durability 70.
Pillar letters and Scores for BITA, MAXI, with each pillar’s weight
PillarBITAMAXI
Cost30% weightA90HigherF0
Mission25% weightNot scoredNot scored
Risk15% weightA98HigherD27
Tradability15% weightA85HigherC48
Holdings10% weightNot scoredNot scored
Durability5% weightB61A70Higher

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. BITA 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 ›

BITA ranks 1st 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 20FXEYGraniteShares YieldBOOST Ether ETFScore 24
  4. Rank 21FMAXISimplify Bitcoin Strategy PLUS Income ETFScore 22

Our read on each fund

ETF.net Research

BITAAThe iShares Bitcoin Premium Income ETF

MAXIFSimplify Bitcoin Strategy PLUS Income ETF

In short

BITA BlackRock's take on the bitcoin income trade: own actual bitcoin, then sell calls on only a quarter to a third of it. Most crypto covered-call funds hand over the upside to buy the yield. This one is built to leave most of it on the table.

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

BITA The Trust seeks to reflect the performance of bitcoin while generating premium income through an actively managed strategy of selling call options primarily on IBIT shares and, from time to time, on ETP indices.

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

  • BITA Holds spot bitcoin and IBIT shares directly, and the sponsor aims to write calls on a predetermined 25% to 35% of notional value, leaving the majority of the position unwritten.sec.gov
  • 0.65% expense ratio, below the 0.85% typical of crypto options-income funds and at the low end of the category's strongest implementations (BTCC 0.66%, CEPI 0.85%, YBTC 0.96%).
  • The partnership wrapper earns its keep: IBIT options are Section 1256 contracts eligible for 60/40 blended rates, and partnerships skip forced year-end capital gain distributions.ishares.com
  • Among the better-built options in a crowded crypto income shelf, with the calls written on IBIT, the deepest-traded bitcoin ETP options market.ishares.com
  • 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

  • BITA That same partnership structure means a Schedule K-1 instead of a 1099, which lands later in tax season and can add filing steps.ishares.com
  • Calls written on part of the book cap gains on that slice. The premium income is paid for with upside, not conjured from thin air.sec.gov
  • Launched in 2026 and structured as a trust outside the Investment Company Act, so the record is short and it trades lighter than the category's biggest names.sec.gov
  • 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 BITA profile⁠

Full MAXI profile⁠

BITA 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.

BITA vs MAXI Cost

Overpaying MAXI vs BITA

$13,849

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

  • BITA 0.65%

    $12,717

  • MAXI 1.52%

    $26,566

$10,000
30 years

Cost over time

  • BITA 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 $26,566BITA $12,717

Year by year

YearBITAMAXIOverpaying
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%BITA, cheaper
  • 1.52%MAXI
  • Middle half of Crypto Option Income funds
  • Median 0.85%

BITA cheapest of 21 funds

MAXI 21st cheapest of 21 funds

BITA vs MAXI Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
BITA No data
MAXI 16.89%
Payout (12M)
BITA No data
MAXI $2.07
Last payment
BITA $0.73
MAXI $0.05
Ex-dividend
BITA Oct 2, 2026
MAXI Oct 27, 2026
Paid on
BITA Oct 7, 2026
MAXI Oct 30, 2026
Frequency
BITA Monthly
MAXI Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

BITAMonthly · 4 paymentsAll BITA payments⁠
One bar per payment. 4 payments from 2023 to 2026 YTD. Jul 2, 2026 $0.52; Aug 4, 2026 $0.80; Sep 2, 2026 $0.66; Oct 2, 2026 $0.73. 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

BITA vs MAXI Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BITA No dataMAXI 69.0%
Return per unit of riskSharpe ratio, 3 years
BITA No dataMAXI 0.44
Worst fallMax drawdown, 5 years
BITA No dataMAXI −69.5%since Sep 2022
Market sensitivityBeta, 5 years
BITA 1.10MAXI 1.57

BITA and MAXI in the news

All news⁠

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