DMAXvsHEQTETF Comparison
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iShares Large Cap Max Buffer Dec ETF (DMAX) and Simplify Hedged Equity ETF (HEQT) belong to the same industry segment: Options Strategies. Both ETFs have the same top 3 sector exposures: Technology, Finance and Consumer Non-Cyclicals. Both DMAX and HEQT have the same Total Expense Ratio (TER) of 0.53%. DMAX is up 2.95% year-to-date (YTD) with +$53M in YTD flows. HEQT performs better with 5.93% YTD performance, and -$46M in YTD flows. Run a side-by-side ETF comparison of DMAX and HEQT 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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DMAX vs HEQT performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/17/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | DMAX HEQT | +0.58%+0.89% | +1.60%+3.75% | +2.95%+5.93% | +6.98%+12.88% | n/a+44.01% | n/an/a |
| Flows | DMAX HEQT | +$1M-$18M | -$1M-$30M | +$53M-$46M | +$44M-$58M | -+$122M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | DMAX HEQT | +1.92%+5.63% | +2.31%+6.45% | n/a+7.66% | n/an/a |
| Max drawdown | DMAX HEQT | -0.59%-1.67% | -1.47%-5.27% | n/a-10.18% | n/an/a |
| Max drawdown duration | DMAX HEQT | 10d15d | 44d49d | n/a149d | n/an/a |
Trading data
DMAX | HEQT | |
Last sale 7/17/2026 at 1:30 PM | $27.41 | $33.57 |
| Previous close 07/16/2026 | $27.44 | $33.68 |
| Consolidated volume 07/16/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 7/17/2026 at 1:30 PM
Live
Closed
DMAX | HEQT | |
|---|---|---|
| Last price | $27.41 | $33.57 |
| 1D performance | -0.11% | -0.33% |
| AuM | $138.22 M | $300.01 M |
| E/R | 0.53% | 0.53% |
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Exposure
Countries
DMAX
USA
104.62%
Other
-4.62%
HEQT
USA
101.71%
Other
-1.71%
Sectors
DMAX
Technology
49.78%
Finance
13.44%
Consumer Non-Cycl.
9.77%
Healthcare
8.62%
Industrials
8.06%
Other
10.32%
HEQT
Technology
48.68%
Finance
13.15%
Consumer Non-Cycl.
9.56%
Healthcare
8.43%
Industrials
7.89%
Other
12.3%
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Diversification
DMAX
Total weight of top 15 holdings out of 15
48.2%
HEQT
Total weight of top 15 holdings out of 15
47.13%
Top 15 holdings
Data as of May 31, 2026
DMAX
NVIDIA Corp.
8.38%
Apple, Inc.
7.49%
Microsoft Corp.
5.46%
Amazon.com, Inc.
4.32%
Alphabet, Inc.
3.62%
Broadcom Inc.
3.46%
Alphabet, Inc.
2.88%
Meta Platforms, Inc.
2.26%
Tesla, Inc.
2.00%
Micron Technology, Inc.
1.79%
Eli Lilly & Co.
1.43%
Berkshire Hathaway, Inc.
1.42%
Advanced Micro Devices, Inc.
1.38%
JPMorgan Chase & Co.
1.32%
Exxon Mobil Corp.
0.99%
HEQT
NVIDIA Corp.
8.20%
Apple, Inc.
7.32%
Microsoft Corp.
5.34%
Amazon.com, Inc.
4.22%
Alphabet, Inc.
3.54%
Broadcom Inc.
3.39%
Alphabet, Inc.
2.81%
Meta Platforms, Inc.
2.21%
Tesla, Inc.
1.96%
Micron Technology, Inc.
1.75%
Eli Lilly & Co.
1.40%
Berkshire Hathaway, Inc.
1.39%
Advanced Micro Devices, Inc.
1.34%
JPMorgan Chase & Co.
1.29%
Exxon Mobil Corp.
0.97%
Frequently asked questions about DMAX and HEQT
How have the DMAX and HEQT ETFs performed in 2026?
As of July 17, 2026, DMAX is up 2.95% year-to-date (YTD), while HEQT has returned 5.93%. That puts HEQT better performer ahead so far this year.
Which ETF is attracting more investor money: DMAX or HEQT?
Year-to-date, the DMAX ETF saw +$53M in flows, compared to -$46M for HEQT.
Which ETF is more volatile: DMAX or HEQT?
Over the past year, DMAX had a volatility of 2.31%, while HEQT experienced 6.45%.
Which ETF is bigger: DMAX or HEQT?
As of July 17, 2026, DMAX holds $138.22 M in assets under management (AUM), while HEQT manages $300.01 M.
What sectors do the DMAX and HEQT ETFs invest in?
DMAX leans toward sectors like Technology, Finance and Consumer Non-Cyclicals. Meanwhile, HEQT focuses on Technology, Finance and Consumer Non-Cyclicals.
What are the top holdings of the DMAX ETF and HEQT ETF?
DMAX top holdings include NVIDIA Corp., Apple, Inc. and Microsoft Corp.. HEQT holds in its top three: NVIDIA Corp., Apple, Inc. and Microsoft Corp..
Which ETF is more diversified: DMAX or HEQT?
DMAX holds 504 securities with 48.2% of its assets in the top 15. HEQT has 504 securities and a top 15 weight of 47.13%.
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Latest news about DMAX & HEQT
Tony’s ETF Buyer’s Guide: Hedged Equity ETFs
February 10, 2026
HEQT
Hedged Equity ETFs: Options-Based Alternatives to the 60/40 Portfolio
March 25, 2025
HEQT
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