This paper investigates the metaphysics in higher-order counterfactual logic. I establish the necessity of identity and distinctness and show that the logic is committed to vacuism, which entails that all counteridenticals are true. I prove the Barcan, Converse Barcan, Being Constraint and Necessitism. I then show how to derive the Identity of Indiscernibles in counterfactual logic. I study a form of maximalist ontology which has been claimed to be so expansive as to be inconsistent. I show that it is equivalent (...) to the collapse of the counterfactual into the material conditional---which is itself equivalent to the modal logic TRIV. TRIV is consistent, from which it follows that maximalism is, surprisingly, consistent. I close by arguing that stating the limit assumption requires a higher-order logic. (shrink)