iShares Large Cap Max Buffer Dec ETF
$27.89−0.02 (−0.07%)
- 0.53%
- $132M
- +7.1%
- 0M sh
- $27.93
- low $26.38high $27.92
The ETF.net DMAX Grade
B
Score 57 out of 100
- 3 of 20
Score 57 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C47 out of 100Rank 11 of 20Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C52 out of 100Rank 7 of 20Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A73 out of 100Rank 4 of 20Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C45 out of 100Rank 4 of 4Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A90 out of 100Rank 2 of 20
Our read on DMAX
BMost buffer ETFs swap a slice of your downside for a slice of your upside. DMAX takes it to the limit: it aims to absorb nearly the entire annual decline in the S&P 500, and accepts a very small cap as the price of that protection.
The fund uses an options strategy tied to the iShares Core S&P 500 ETF, seeking to provide substantial downside protection in exchange for capped upside during the annual hedge period.
Why people hold it
- The buffer is the whole story: it aims to absorb nearly all of a one-year decline in IVV, far deeper than the single-digit buffers common in this category.ishares.com
- 0.53% a year undercuts most of the buffer shelf, where BUFR charges 0.95% and BAPR 0.79%.
- The thing being hedged is plain vanilla: IVV, BlackRock's S&P 500 ETF. No bespoke index, no custom basket to decode.ishares.com
- Self-renewing by design: the December outcome period resets each year, so there is no rollover chore on your calendar.ishares.com
Worth knowing
- Deep protection buys a thin ceiling. The cap is set fresh each period and sits low by construction, so a roaring market largely goes on without you.ishares.com
- Terms apply across the full December-to-December period. Buy in the middle and you inherit whatever buffer and upside remain, not the stated headline numbers.ishares.com
- Thinly traded with a track record only since its December 2024 launch. Limit orders are the friendly move here.
DMAX Holdings
- Stocks
- 5
- 109%
- IVV
Geography
- United States100.00%
DMAX Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
DMAX$10,705
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | DMAX |
|---|---|
| Year to date | +4.6% |
| 1 month | +0.6% |
| 3 months | +1.7% |
| 1 year | +7.1% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | DMAX |
|---|---|---|
| 2026 YTD | +4.6% | |
| 2025 | +7.8% |
DMAX in the news
DMAX Dividends
- $0.32 per share
- Irregular
Distribution data unavailable.
Distribution history
DMAX Risk
- 2.5%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.05
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −3.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.19
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
DMAX Cost
0.53%
DMAX0.53%
- The middle half of S&P 500 Max Buffer funds
- Median 0.52%
10 of the 20 S&P 500 Max Buffer funds charge less.
Other funds in S&P 500 Max Buffer
- BPMDEPGIM S&P 500 Max Buffer ETF - DecemberExpense ratio 0.50%1 year return —
- BPMAUPGIM Rock ETF Trust - PGIM S&P 500 Max Buffer ETF - AugustExpense ratio 0.50%1 year return +6.8%
- BPMJNPGIM Rock ETF Trust - PGIM S&P 500 Max Buffer ETF - JuneExpense ratio 0.50%1 year return +5.3%
- BPMMRPGIM Rock ETF Trust - PGIM S&P 500 Max Buffer ETF - MarchExpense ratio 0.50%1 year return +6.2%
- BPMMYPGIM Rock ETF Trust - PGIM S&P 500 Max Buffer ETF - MayExpense ratio 0.50%1 year return +5.4%