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FHEQvsDMAXETF Comparison

ETF 1

FHEQ

Fidelity Hedged Equity ETF

This fund is part of

Options Strategies

-0.06%

Full FHEQ fund page

VS

ETF 2

DMAX

iShares Large Cap Max Buffer Dec ETF

This fund is part of

Options Strategies

-0.06%

Full DMAX fund page

Fidelity Hedged Equity ETF (FHEQ) and iShares Large Cap Max Buffer Dec ETF (DMAX) belong to the same industry segment: Options Strategies. FHEQ's top 3 sector exposures are Technology, Finance and Industrials. In contrast, DMAX's top sector exposures are Technology, Finance and Healthcare. FHEQ is less expensive with a Total Expense Ratio (TER) of 0.52%, versus 0.53% for DMAX. FHEQ is up 11.13% year-to-date (YTD) with +$136M in YTD flows. DMAX performs worse with 4.2% YTD performance, and +$50M in YTD flows. Run a side-by-side ETF comparison of FHEQ 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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FHEQ vs DMAX performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 09/04/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	FHEQ DMAX	-0.39%+0.53%	+1.81%+1.60%	+11.13%+4.20%	+14.67%+6.87%	n/an/a	n/an/a
Flows	FHEQ DMAX	+$32M-$3M	+$86M-$2M	+$136M+$50M	+$374M+$45M	--	--

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FHEQ DMAX	+11.08%+1.96%	+9.96%+2.22%	n/an/a	n/an/a
Max drawdown	FHEQ DMAX	-3.88%-0.51%	-7.39%-1.47%	n/an/a	n/an/a
Max drawdown duration	FHEQ DMAX	57d8d	71d44d	n/an/a	n/an/a

Trading data

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	FHEQ	DMAX
Last sale 9/4/2026 at 1:30 PM	$34.20	$27.71
Previous close 09/04/2026	$34.29	$27.74
Consolidated volume 09/04/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Main metrics

Last update 9/4/2026 at 1:30 PM

Live

Closed

	FHEQ	DMAX
Last price	$34.20	$27.71
1D performance	-0.26%	-0.09%
AuM	$981.98 M	$136.55 M
E/R	0.52%	0.53%

Characteristics

	FHEQ	DMAX
Management strategy	Active	Active
Provider	Fidelity	iShares
Benchmark	-	-
N° of holdings	159	501
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	April 9, 2024	December 31, 2024
ESG	No	No

More FHEQ data on Trackinsight

More DMAX data on Trackinsight

Exposure

Countries

FHEQ

USA

98.26%

Other

1.74%

DMAX

USA

101.93%

Other

-1.93%

Sectors

FHEQ

Technology

47.38%

Finance

14.61%

Industrials

10.37%

Healthcare

9.1%

Consumer Non-Cycl.

8.43%

Other

10.11%

DMAX

Technology

46.39%

Finance

14.53%

Healthcare

9.31%

Consumer Non-Cycl.

9.26%

Industrials

8.12%

Other

12.39%

Diversification

FHEQ

Total weight of top 15 holdings out of 15

46.8%

DMAX

Total weight of top 15 holdings out of 15

45.18%

Top 15 holdings

Data as of July 31, 2026

FHEQ

Apple, Inc.

8.52%

NVIDIA Corp.

8.07%

Microsoft Corp.

4.50%

Amazon.com, Inc.

3.82%

Alphabet, Inc.

3.40%

Broadcom Inc.

3.05%

Alphabet, Inc.

2.41%

Meta Platforms, Inc.

2.19%

JPMorgan Chase & Co.

2.04%

Berkshire Hathaway, Inc.

2.02%

Eli Lilly & Co.

1.71%

Micron Technology, Inc.

1.57%

Mastercard, Inc.

1.22%

Bank of America Corp.

1.19%

GE Aerospace

1.11%

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 FHEQ and DMAX

How have the FHEQ and DMAX ETFs performed in 2026?

As of September 4, 2026, FHEQ is up 11.13% year-to-date (YTD), while DMAX has returned 4.2%. That puts FHEQ better performer ahead so far this year.

Which ETF is attracting more investor money: FHEQ or DMAX?

Year-to-date, the FHEQ ETF saw +$136M in flows, compared to +$50M for DMAX.

Which ETF is more volatile: FHEQ or DMAX?

Over the past year, FHEQ had a volatility of 9.96%, while DMAX experienced 2.22%.

Which ETF is bigger: FHEQ or DMAX?

As of September 4, 2026, FHEQ holds $981.98 M in assets under management (AUM), while DMAX manages $136.55 M.

What sectors do the FHEQ and DMAX ETFs invest in?

FHEQ leans toward sectors like Technology, Finance and Industrials. Meanwhile, DMAX focuses on Technology, Finance and Healthcare.

What are the top holdings of the FHEQ ETF and DMAX ETF?

FHEQ 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: FHEQ or DMAX?

FHEQ holds 160 securities with 46.8% of its assets in the top 15. DMAX has 504 securities and a top 15 weight of 45.18%.

Tony’s ETF Buyer’s Guide: Hedged Equity ETFs

February 10, 2026

FHEQ

FHEQvsDMAXETF Comparison

Fidelity Hedged Equity ETF

iShares Large Cap Max Buffer Dec ETF

FHEQ vs DMAX performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the FHEQ and DMAX ETFs performed in 2026?

As of September 4, 2026, FHEQ is up 11.13% year-to-date (YTD), while DMAX has returned 4.2%. That puts FHEQ better performer ahead so far this year.

Which ETF is attracting more investor money: FHEQ or DMAX?

Year-to-date, the FHEQ ETF saw +$136M in flows, compared to +$50M for DMAX.

Which ETF is more volatile: FHEQ or DMAX?

Over the past year, FHEQ had a volatility of 9.96%, while DMAX experienced 2.22%.

Which ETF is bigger: FHEQ or DMAX?

As of September 4, 2026, FHEQ holds $981.98 M in assets under management (AUM), while DMAX manages $136.55 M.

What sectors do the FHEQ and DMAX ETFs invest in?

FHEQ leans toward sectors like Technology, Finance and Industrials. Meanwhile, DMAX focuses on Technology, Finance and Healthcare.

What are the top holdings of the FHEQ ETF and DMAX ETF?

FHEQ 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: FHEQ or DMAX?

FHEQ holds 160 securities with 46.8% of its assets in the top 15. DMAX has 504 securities and a top 15 weight of 45.18%.

Tony’s ETF Buyer’s Guide: Hedged Equity ETFs

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