Skip to content
etf.net

CEPI vs MAXI

REX Crypto Equity Premium Income ETF

CEPIBNasdaq

Simplify Bitcoin Strategy PLUS Income ETF

MAXIFNasdaq

Overlap

Expense ratio

CEPI −0.67pt a year

CEPI0.85%MAXI1.52%

Avg volume · 30D

CEPI 2.2×the volume

CEPI51.4KMAXI23.8K

CEPI vs MAXI Performance

Oct 31, 2025 – Oct 30, 2026

−1.8%CEPI−42.8%MAXI

Oct 31, 2025 to Oct 30, 2026. CEPI −1.8%. MAXI −42.8%. Use the arrow keys to read each point.−60%−20%Oct 2025Apr 2026Oct 2026
Expense ratio
CEPI 0.85%, better
MAXI 1.52%
Fund size
CEPI $119M
MAXI $29M
1Y total return
CEPI −1.8%, better
MAXI −42.8%
Yield (12M)
CEPI 48.27%, better
MAXI 16.89%
Holdings
CEPI 26
MAXI 15
Avg volume (30D)
CEPI 51.4K sh, better
MAXI 23.8K sh
NAV per share
CEPI $28.13
MAXI $12.27
52W range

ETF.net Grade

CEPI: Cost 50, Risk 88, Mission not scored, Tradability 50, Holdings 92, Durability 71. MAXI: Cost 0, Risk 27, Mission not scored, Tradability 48, Holdings not scored, Durability 70.
Pillar letters and Scores for CEPI, MAXI, with each pillar’s weight
PillarCEPIMAXI
Cost30% weightC50HigherF0
Mission25% weightNot scoredNot scored
Risk15% weightA88HigherD27
Tradability15% weightC50HigherC48
Holdings10% weightA92Not scored
Durability5% weightA71HigherA70

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. CEPI 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 ›

CEPI 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 5CYBTCRoundhill Bitcoin Covered Call Strategy ETFScore 54
  6. Rank 20FXEYGraniteShares YieldBOOST Ether ETFScore 24
  7. Rank 21FMAXISimplify Bitcoin Strategy PLUS Income ETFScore 22

Our read on each fund

ETF.net Research

CEPIBREX Crypto Equity Premium Income ETF

MAXIFSimplify Bitcoin Strategy PLUS Income ETF

In short

CEPI Crypto exposure without the coins. CEPI owns a basket of miners, exchanges and digital-payment stocks, then sells options against them for income, so the sector's volatility becomes the fuel for the premium.

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

CEPI The fund seeks current income and capital appreciation, while targeting most of the returns of the S&P 500 Total Return Index with lower volatility and additional 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

  • CEPI Charges 0.85% a year, below the 0.96% median for crypto-linked income funds.
  • Spreads across roughly 80 crypto and digital-payment stocks from the BITA Crypto Assets & Digital Payments Index, rather than leaning on one bitcoin proxy.
  • Sits in the top quartile of the crypto-income group we track, one of the stronger builds in a crowded niche.
  • A plain 1940 Act fund holding stocks, not coins: no wallet, no exchange account, 1099 at tax time.
  • 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

  • CEPI Writing options for income trades away part of any big rally in crypto equities. Premium now, capped upside later.
  • A December 2024 launch that still trades lightly next to the giant income ETFs, so spreads can run wider.
  • Exposure leans on derivatives, including synthetic single-stock positions, so the options book drives results as much as the shares behind it.
  • 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 CEPI profile⁠

Full MAXI profile⁠

CEPI 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.

CEPI vs MAXI Cost

Overpaying MAXI vs CEPI

$10,367

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

  • CEPI 0.85%

    $16,199

  • MAXI 1.52%

    $26,566

$10,000
30 years

Cost over time

  • CEPI 0.85%
  • 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 $26,566CEPI $16,199

Year by year

YearCEPIMAXIOverpaying
10$1,508$2,622$1,114
20$5,706$9,630$3,924
30$16,199$26,566$10,367

Expense ratio

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

CEPI 10th cheapest of 21 funds

MAXI 21st cheapest of 21 funds

CEPI vs MAXI Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
CEPI 48.27%, better
MAXI 16.89%
Payout (12M)
CEPI $13.03
MAXI $2.07
Last payment
CEPI $0.22
MAXI $0.05
Ex-dividend
CEPI Oct 28, 2026
MAXI Oct 27, 2026
Paid on
CEPI Oct 29, 2026
MAXI Oct 30, 2026
Frequency
CEPI Weekly
MAXI Monthly

Distribution history

Per share, 2026, same scale for both

CEPIWeekly · 27 paymentsAll CEPI payments⁠
One bar per payment. 27 payments in 2026 YTD. Jan 27, 2026 $1.25; Feb 24, 2026 $1.11; Mar 24, 2026 $1.06; Apr 28, 2026 $1.17; May 27, 2026 $0.28; Jun 3, 2026 $0.29; Jun 10, 2026 $0.28; Jun 17, 2026 $0.28; Jun 24, 2026 $0.28; Jul 1, 2026 $0.27; Jul 8, 2026 $0.27; Jul 15, 2026 $0.26; Jul 22, 2026 $0.26; Jul 29, 2026 $0.25; Aug 5, 2026 $0.26; Aug 12, 2026 $0.25; Aug 19, 2026 $0.26; Aug 26, 2026 $0.25; Sep 2, 2026 $0.25; Sep 9, 2026 $0.26; Sep 16, 2026 $0.25; Sep 23, 2026 $0.26; Sep 30, 2026 $0.25; Oct 7, 2026 $0.26; Oct 14, 2026 $0.25; Oct 21, 2026 $0.23; Oct 28, 2026 $0.22. Use the arrow keys to read each point.$0$12026YTD
MAXIMonthly · 8 paymentsAll MAXI payments⁠
One bar per payment. 8 payments in 2026 YTD. 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$12026YTD

CEPI vs MAXI Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
CEPI 26.0%since Jan 2025MAXI 69.0%
Return per unit of riskSharpe ratio, 3 years
CEPI 0.41since Jan 2025MAXI 0.44
Worst fallMax drawdown, 5 years
CEPI −29.4%since Dec 2024MAXI −69.5%since Sep 2022
Market sensitivityBeta, 5 years
CEPI 1.69MAXI 1.57

CEPI and MAXI in the news

All news⁠

Popular comparisons

  • CEPIBvsBITAA

    REX Crypto Equity Premium Income ETF · The iShares Bitcoin Premium Income ETF

    Expense ratio
    0.85% · 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.

  • CEPIBvsBTCCB

    REX Crypto Equity Premium Income ETF · Grayscale Funds Trust

    Expense ratio
    0.85% · 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.

  • CEPIBvsBAGYB

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

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

  • MAXIFvsBAGYB

    Simplify Bitcoin Strategy PLUS Income ETF · Amplify Bitcoin Max Income Covered Call 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.