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DMAX vs PMJN

iShares Large Cap Max Buffer Dec ETF

DMAXCCboe

PGIM S&P 500 Max Buffer ETF - June

PMJNBCboe

Overlap

Expense ratio

PMJN −0.03pt a year

DMAX0.53%PMJN0.50%

Avg volume · 30D

DMAX 2.5×the volume

DMAX12.1KPMJN4.9K

DMAX vs PMJN Performance

Oct 31, 2025 – Oct 30, 2026

+6.1%DMAX+4.3%PMJN

Oct 31, 2025 to Oct 30, 2026. DMAX +6.1%. PMJN +4.3%. Use the arrow keys to read each point.0%1%2%3%Oct 2025Apr 2026Oct 2026
Expense ratio
DMAX 0.53%
PMJN 0.50%, better
Fund size
DMAX $128M
PMJN $10M
1Y total return
DMAX +6.1%, better
PMJN +4.3%
Holdings
DMAX 4
PMJN 4
Avg volume (30D)
DMAX 12.1K sh, better
PMJN 4.9K sh
NAV per share
DMAX $27.90
PMJN $27.11
52W range

ETF.net Grade

DMAX: Cost 47, Risk 51, Mission not scored, Tradability 61, Holdings 45, Durability 92. PMJN: Cost 76, Risk 36, Mission not scored, Tradability 41, Holdings not scored, Durability 36.
Pillar letters and Scores for DMAX, PMJN, with each pillar’s weight
PillarDMAXPMJN
Cost30% weightC47A76Higher
Mission25% weightNot scoredNot scored
Risk15% weightC51HigherD36
Tradability15% weightB61HigherC41
Holdings10% weightC45Not scored
Durability5% weightA92HigherD36

Rank among S&P 500 Max Buffer funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. DMAX and PMJN are both graded against the same 20 S&P 500 Max Buffer funds, so their Grades compare head to head.

S&P 500 Max Buffer⁠

Category · 20 funds
See all 20 ›

PMJN ranks 4th and DMAX 8th of 20 funds in the S&P 500 Max Buffer Category.

  1. Rank 1BPMDEPGIM S&P 500 Max Buffer ETF - DecemberScore 63
  2. Rank 2BPMJLPGIM S&P 500 Max Buffer ETF - JulyScore 56
  3. Rank 2BPMSEPGIM S&P 500 Max Buffer ETF - SeptemberScore 56
  4. Rank 4BPMJNPGIM S&P 500 Max Buffer ETF - JuneScore 55
  5. Rank 4CPMMRPGIM S&P 500 Max Buffer ETF - MarchScore 55
  6. Rank 4CPMOCPGIM S&P 500 Max Buffer ETF - OctoberScore 55
  7. Rank 8CDMAXiShares Large Cap Max Buffer Dec ETFScore 54
  8. Rank 8BPMMYPGIM S&P 500 Max Buffer ETF - MayScore 54

Our read on each fund

ETF.net Research

DMAXCiShares Large Cap Max Buffer Dec ETF

PMJNBPGIM S&P 500 Max Buffer ETF - June

In short

DMAX Most 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.

PMJN No data

Stated mandate

DMAX 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.

PMJN No data

Why people hold it

  • DMAX 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

PMJN No data

Worth knowing

  • DMAX 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.

PMJN No data

Full DMAX profile⁠

Full PMJN profile⁠

DMAX vs PMJN 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.

DMAX vs PMJN Cost

Overpaying DMAX vs PMJN

$557

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

  • DMAX 0.53%

    $10,536

  • PMJN 0.50%

    $9,979

$10,000
30 years

Cost over time

  • DMAX 0.53%
  • PMJN 0.50%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530DMAX $10,536PMJN $9,979

Year by year

YearDMAXPMJNOverpaying
10$953$900$53
20$3,658$3,460$198
30$10,536$9,979$557

Expense ratio

  • 0.53%DMAX
  • 0.50%PMJN, cheaper
  • Middle half of S&P 500 Max Buffer funds
  • Median 0.52%

PMJN cheapest of 20 funds

DMAX 11th cheapest of 20 funds

DMAX vs PMJN Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
DMAX No data
PMJN None
Last payment
DMAX $0.32
PMJN No data
Ex-dividend
DMAX Dec 23, 2025
PMJN No data
Paid on
DMAX Dec 29, 2025
PMJN No data
Frequency
DMAX Irregular
PMJN No data

Distribution history

Per share, 2025 to 2026, same scale for both

DMAXIrregular · 1 paymentAll DMAX payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 23, 2025 $0.32. Use the arrow keys to read each point.$0$0.252026YTD
PMJNAll PMJN payments⁠

No distribution history available.

DMAX vs PMJN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
DMAX 2.5%since Feb 2025PMJN 1.5%since Jul 2025
Return per unit of riskSharpe ratio, 3 years
DMAX 0.98since Feb 2025PMJN 0.64since Jul 2025
Worst fallMax drawdown, 5 years
DMAX −3.4%since Jan 2025PMJN −1.1%since Jun 2025
Market sensitivityBeta, 5 years
DMAX 0.19PMJN 0.11

Popular comparisons

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    iShares Large Cap Max Buffer Dec ETF · PGIM S&P 500 Max Buffer ETF - December

    Expense ratio
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    Category
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    Expense ratio
    0.50% · 0.50%
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    Expense ratio
    0.53% · 0.50%
    Category
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  • PMJNBvsPMSEB

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    Expense ratio
    0.50% · 0.50%
    Category
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