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MMAX

GradeBChicago Board Options Exchange

iShares Trust - iShares Large Cap Max Buffer Mar ETF

Floor Protected · IShares · Inception 2025-03-30 · SEC filings

$27.43−0.04 (−0.13%)

As of Sep 23, 2026, 12:03 PM EDT

History starts Apr 1, 2025.
Intraday session: down, 2 prints from 27.47 to 27.43. Range 27.43 to 27.47. Use the arrow keys to read each point.$27.44$27.45$27.4610 AM12 PM2 PM4 PM
Expense ratio
0.53%
Fund size
$74M
1Y return
−59.1%
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$27.46
52W range
low $26.04high $27.46

The ETF.net MMAX Grade

B

64/ 100

Rank 3 of 39 in S&P 500 Full Protection⁠

Confidence Medium

Six-pillar profile for MMAX. Scores out of 100: Cost 83, Risk 48, Mission not scored, Tradability 45, Holdings 50, Durability 62. Strongest: Cost (83). Weakest: Tradability (45). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 64 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    AScore 83
    Category rank8/39 · top 21%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 48
    Category rank21/37 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 45
    Category rank23/39 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 50
    Category rank10/12 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 62
    Category rank16/39 · top 41%

Graded as of Sep 21, 2026 · Based on 5 of 6 pillars

MMAX Holdings

As of Sep 22, 2026, 5:09 AM
Asset class
Stocks
Holdings
—
Top-10 weight
114%
Largest holding
IVV111.3%

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001IVVISHARES CORE S&P ETF TRUST111.28%106,950$71M56
002—APR27 IVV US P @ 653.211.24%1,087$797K2
003—BLK CSH FND TREASURY SL AGENCY0.93%680,968$594K442
004—CASH COLLATERAL USD GSCFT0.14%101,000$88K9
005—USD CASH0.11%80,717$70K195

Showing 1–5 of 5 holdings

MMAX Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

MMAX$4,085
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,780
Sep 19, 2025 to Sep 21, 2026. MMAX $4,085. SPY $11,780. Use the arrow keys to read each point.$3,353$7,899$12,444Sep 2025Mar 2026Sep 2026

Sep 19, 2025 – Sep 21, 2026

Returns run to the Sep 21, 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.

Trailing total return for MMAX. Periods over one year show the average yearly return.
PeriodMMAX
Year to date−59.9%
1 month+1.5%
3 months−61.1%
1 year−59.1%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for MMAX
YearReturn barMMAX
2026 YTD−59.9%
2025+5.9%

History from Apr 1, 2025

MMAX in the news

ETF.net Research hasn’t filed on MMAX yet — coverage lands here as it’s written.

MMAX Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 21, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.35 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 23, 2025 $0.35. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 23, 2025Data unavailable$0.35

MMAX Risk

How much the fund’s monthly returns vary, scaled to a year.
54.0%
Annualised · 16 months to Aug 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
−0.80
vs 3-month T-bills · 16 months to Aug 2026
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.

The largest fall from a peak to the low that followed.
−62.5%
17 months · trough Sep 2026
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.

How strongly the fund’s returns move with its asset-class index.
1.24
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

MMAX Cost

Expense ratio0.53%
  • The middle half of S&P 500 Full Protection funds
  • Median 0.69%

5 of the 26 S&P 500 Full Protection funds charge less.

MMAX costs $53.00 a year on $10,000. The median S&P 500 Full Protection fund costs $69.00.