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MAXJ vs TAPR

iShares Large Cap Max Buffer Jun ETF

MAXJACboe

Innovator Equity Defined Protection ETF

TAPRDCboe

Overlap

Expense ratio

MAXJ −0.26pt a year

MAXJ0.53%TAPR0.79%

Avg volume · 30D

MAXJ 91.0×the volume

MAXJ37.6KTAPR413

MAXJ vs TAPR Performance

Oct 31, 2025 – Nov 2, 2026

+5.7%MAXJ+4.8%TAPR

Oct 31, 2025 to Nov 2, 2026. MAXJ +5.7%. TAPR +4.8%. Use the arrow keys to read each point.0%1%2%3%4%Oct 2025May 2026Nov 2026
Expense ratio
MAXJ 0.53%, better
TAPR 0.79%
Fund size
MAXJ $163M
TAPR $11M
1Y total return
MAXJ +5.7%, better
TAPR +4.8%
Yield (12M)
MAXJ 0.96%
TAPR No data
Holdings
MAXJ 5
TAPR 3
Avg volume (30D)
MAXJ 37.6K sh, better
TAPR 413 sh
NAV per share
MAXJ $29.54
TAPR $26.96
52W range

ETF.net Grade

MAXJ: Cost 83, Risk 51, Mission not scored, Tradability 82, Holdings 58, Durability 91. TAPR: Cost 21, Risk 42, Mission not scored, Tradability 22, Holdings not scored, Durability 47.
Pillar letters and Scores for MAXJ, TAPR, with each pillar’s weight
PillarMAXJTAPR
Cost30% weightA83HigherF21
Mission25% weightNot scoredNot scored
Risk15% weightC51HigherC42
Tradability15% weightA82HigherF22
Holdings10% weightB58Not scored
Durability5% weightA91HigherC47

Rank among S&P 500 Full Protection funds

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

Same Category. MAXJ and TAPR are both graded against the same 27 S&P 500 Full Protection funds, so their Grades compare head to head.

S&P 500 Full Protection⁠

Category · 27 funds
See all 27 ›

MAXJ ranks 3rd and TAPR 27th of 27 funds in the S&P 500 Full Protection Category.

  1. Rank 1ACPSLCalamos Laddered S&P 500 Structured Alt Protection ETFScore 80
  2. Rank 2AMMAXiShares Large Cap Max Buffer Mar ETFScore 76
  3. Rank 3AMAXJiShares Large Cap Max Buffer Jun ETFScore 75
  4. Rank 4BCPSNCalamos S&P 500 Structured Alt Protection ETF – NovemberScore 59
  5. Rank 26DZMARInnovator Equity Defined Protection ETF - 1 Yr MarchScore 39
  6. Rank 27DTAPRInnovator Equity Defined Protection ETFScore 28

Our read on each fund

ETF.net Research

MAXJAiShares Large Cap Max Buffer Jun ETF

TAPRDInnovator Equity Defined Protection ETF

In short

MAXJ No data

TAPR Innovator's maximalist take on the buffer trade: a two-year term that aims to shield 100% of SPY's downside before fees, with upside stopped at a cap fixed the day the period starts.

Stated mandate

MAXJ No data

TAPR The Fund seeks to track SPY's return subject to a cap while providing a 100% downside buffer over the two-year outcome period, before fees and expenses.

Why people hold it

MAXJ No data

  • TAPR No partial cushion here. The stated goal is protection against 100% of SPY's decline across the outcome period running to March 31, 2027, before fees and expenses.innovatoretfs.com
  • The cap is set at the start of the two-year term, so the bargain (full downside covered, upside stopped at a defined level) is known going in rather than discovered later.innovatoretfs.com
  • It's a registered 1940 Act fund built from an options package on SPY, so the outcome doesn't ride on a single bank's balance sheet the way a structured note does.innovatoretfs.com

Worth knowing

MAXJ No data

  • TAPR At 0.79% a year, it costs more than the 0.69% charged by the Calamos protection lineup (CPSM, CPSA, CPST) chasing the same S&P 500 exposure.
  • The stated outcomes apply to shares held from the start of the period through March 31, 2027. Buy or sell in between and you get whatever the options package is worth that day.innovatoretfs.com
  • Small and thinly traded next to its peers, so bid-ask spreads deserve a look. It also hasn't paid distributions, meaning any return shows up in the share price.

Full MAXJ profile⁠

Full TAPR profile⁠

MAXJ vs TAPR 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.

MAXJ vs TAPR Cost

Overpaying TAPR vs MAXJ

$4,638

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

  • MAXJ 0.53%

    $10,536

  • TAPR 0.79%

    $15,174

$10,000
30 years

Cost over time

  • MAXJ 0.53%
  • TAPR 0.79%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530TAPR $15,174MAXJ $10,536

Year by year

YearMAXJTAPROverpaying
10$953$1,405$452
20$3,658$5,331$1,673
30$10,536$15,174$4,638

Expense ratio

  • 0.53%MAXJ, cheaper
  • 0.79%TAPR
  • Middle half of S&P 500 Full Protection funds
  • Median 0.69%

MAXJ 6th cheapest of 27 funds

TAPR 21st cheapest of 27 funds

MAXJ vs TAPR Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
MAXJ 0.96%
TAPR No data
Payout (12M)
MAXJ $0.28
TAPR None
Last payment
MAXJ $0.28
TAPR No data
Ex-dividend
MAXJ Dec 23, 2025
TAPR No data
Paid on
MAXJ Dec 29, 2025
TAPR No data
Frequency
MAXJ Annual
TAPR No data

Distribution history

Per share, 2024 to 2026, same scale for both

MAXJAnnual · 2 paymentsAll MAXJ payments⁠
One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 30, 2024 $0.21; Dec 23, 2025 $0.28. Use the arrow keys to read each point.$0$0.252026YTD
TAPRAll TAPR payments⁠

No distribution history available.

MAXJ vs TAPR Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MAXJ 4.1%since Aug 2024TAPR 2.3%since May 2025
Return per unit of riskSharpe ratio, 3 years
MAXJ 0.88since Aug 2024TAPR 1.18since May 2025
Worst fallMax drawdown, 5 years
MAXJ −6.3%since Jul 2024TAPR −2.6%since Apr 2025
Market sensitivityBeta, 5 years
MAXJ 0.30TAPR 0.18

MAXJ and TAPR in the news

All news⁠

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