BWVTFvsDMAXETF Comparison
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iPath CBOE S&P 500 BuyWrite Index ETN (BWVTF) and iShares Large Cap Max Buffer Dec ETF (DMAX) belong to the same industry segment: Options Strategies. Both ETFs have the same top 3 sector exposures: Technology, Finance and Healthcare. BWVTF is more expensive with a Total Expense Ratio (TER) of 0.75%, versus 0.53% for DMAX. BWVTF is up 9.78% year-to-date (YTD) with -$126K in YTD flows. DMAX performs worse with 4.15% YTD performance, and +$50M in YTD flows. Run a side-by-side ETF comparison of BWVTF and DMAX below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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BWVTF vs DMAX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/10/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | BWVTF DMAX | +0.15%+0.38% | +6.55%+1.80% | +9.78%+4.15% | +18.51%+6.53% | +45.98%n/a | +48.78%n/a |
| Flows | BWVTF DMAX | --$3M | --$2M | -$126K+$50M | -$841K+$45M | -$841K- | -$1M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | BWVTF DMAX | +6.37%+1.76% | +7.54%+2.23% | +11.15%n/a | +12.31%n/a |
| Max drawdown | BWVTF DMAX | -1.30%-0.44% | -5.71%-1.47% | -16.79%n/a | -19.88%n/a |
| Max drawdown duration | BWVTF DMAX | 8d14d | 62d44d | 240dn/a | 686dn/a |
Trading data
BWVTF | DMAX | |
Last sale 9/11/2026 at 1:30 PM | $27.73 | |
| Previous close 09/10/2026 | $27.67 | |
| Consolidated volume 09/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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DMAX
is actively managed and doesn’t replicate an indexBWVTF | DMAX | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/11/2026 at 1:30 PM
Live
Closed
BWVTF | DMAX | |
|---|---|---|
| Last price | – | $27.73 |
| 1D performance | – | +0.21% |
| AuM | $1.55 M | $136.49 M |
| E/R | 0.75% | 0.53% |
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Exposure
Countries
BWVTF
USA
98.14%
Other
1.86%
DMAX
USA
101.93%
Other
-1.93%
Sectors
BWVTF
Technology
44.19%
Finance
14.31%
Healthcare
9.37%
Consumer Non-Cycl.
9.14%
Industrials
7.9%
Other
15.1%
DMAX
Technology
46.39%
Finance
14.53%
Healthcare
9.31%
Consumer Non-Cycl.
9.26%
Industrials
8.12%
Other
12.39%
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Diversification
BWVTF
Total weight of top 15 holdings out of 15
43.4%
DMAX
Total weight of top 15 holdings out of 15
45.18%
Top 15 holdings
Data as of July 31, 2026
BWVTF
Apple, Inc.
7.95%
NVIDIA Corp.
7.36%
Microsoft Corp.
4.64%
Amazon.com, Inc.
3.55%
Alphabet, Inc.
3.16%
Broadcom Inc.
2.80%
Alphabet, Inc.
2.54%
Meta Platforms, Inc.
2.06%
Eli Lilly & Co.
1.53%
Berkshire Hathaway, Inc.
1.49%
JPMorgan Chase & Co.
1.48%
Tesla, Inc.
1.34%
Micron Technology, Inc.
1.33%
Advanced Micro Devices, Inc.
1.12%
ExxonMobil Holdings Corp.
1.04%
DMAX
Apple, Inc.
7.92%
NVIDIA Corp.
7.64%
Microsoft Corp.
5.42%
Amazon.com, Inc.
3.73%
Alphabet, Inc.
3.17%
Broadcom Inc.
2.97%
Alphabet, Inc.
2.55%
Meta Platforms, Inc.
1.92%
Micron Technology, Inc.
1.60%
JPMorgan Chase & Co.
1.52%
Berkshire Hathaway, Inc.
1.51%
Eli Lilly & Co.
1.48%
Tesla, Inc.
1.41%
Advanced Micro Devices, Inc.
1.28%
ExxonMobil Holdings Corp.
1.05%
Frequently asked questions about BWVTF and DMAX
How have the BWVTF and DMAX ETFs performed in 2026?
As of September 10, 2026, BWVTF is up 9.78% year-to-date (YTD), while DMAX has returned 4.15%. That puts BWVTF better performer ahead so far this year.
Which ETF is attracting more investor money: BWVTF or DMAX?
Year-to-date, the BWVTF ETF saw -$126K in flows, compared to +$50M for DMAX.
Which ETF is more volatile: BWVTF or DMAX?
Over the past year, BWVTF had a volatility of 7.54%, while DMAX experienced 2.23%.
Which ETF is bigger: BWVTF or DMAX?
As of September 10, 2026, BWVTF holds $1.55 M in assets under management (AUM), while DMAX manages $136.49 M.
What sectors do the BWVTF and DMAX ETFs invest in?
BWVTF leans toward sectors like Technology, Finance and Healthcare. Meanwhile, DMAX focuses on Technology, Finance and Healthcare.
What are the top holdings of the BWVTF ETF and DMAX ETF?
BWVTF top holdings include Apple, Inc., NVIDIA Corp. and Microsoft Corp.. DMAX holds in its top three: Apple, Inc., NVIDIA Corp. and Microsoft Corp..
Which ETF is more diversified: BWVTF or DMAX?
BWVTF holds 503 securities with 43.4% of its assets in the top 15. DMAX has 504 securities and a top 15 weight of 45.18%.
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