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FQALvsDMAXETF Comparison

ETF 1

FQAL

Fidelity Quality Factor ETF

This fund is part of

US Multi-Factor

-0.48%

Full FQAL fund page

VS

ETF 2

DMAX

iShares Large Cap Max Buffer Dec ETF

This fund is part of

Options Strategies

-0.24%

Full DMAX fund page

Fidelity Quality Factor ETF (FQAL) belongs to the US Multi-Factor segment. iShares Large Cap Max Buffer Dec ETF (DMAX) is part of the Options Strategies segment. Both ETFs have the same top 3 sector exposures: Technology, Finance and Healthcare. FQAL is less expensive with a Total Expense Ratio (TER) of 0.15%, versus 0.53% for DMAX. FQAL is up 11.79% year-to-date (YTD) with +$135M in YTD flows. DMAX performs worse with 4.14% YTD performance, and +$50M in YTD flows. Run a side-by-side ETF comparison of FQAL 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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FQAL 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 09/08/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	FQAL DMAX	-1.13%+0.37%	+5.23%+1.79%	+11.79%+4.14%	+16.22%+6.76%	+70.27%n/a	+71.51%n/a
Flows	FQAL DMAX	-$5M-$3M	-$25M-$2M	+$135M+$50M	+$154M+$45M	+$620M-	+$738M-

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FQAL DMAX	+10.21%+1.88%	+11.42%+2.22%	+13.97%n/a	+16.31%n/a
Max drawdown	FQAL DMAX	-2.22%-0.44%	-8.44%-1.47%	-16.70%n/a	-25.39%n/a
Max drawdown duration	FQAL DMAX	16d14d	50d44d	126dn/a	750dn/a

Trading data

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	FQAL	DMAX
Last sale 9/9/2026 at 1:30 PM	$83.47	$27.67
Previous close 09/08/2026	$83.96	$27.69
Consolidated volume 09/08/2026
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 index

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	FQAL	DMAX
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

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

Live

Closed

	FQAL	DMAX
Last price	$83.47	$27.67
1D performance	-0.58%	-0.07%
AuM	$1.44 B	$136.48 M
E/R	0.15%	0.53%

Characteristics

	FQAL	DMAX
Management strategy	Passive	Active
Provider	Fidelity	iShares
Benchmark	Fidelity U.S. Quality Factor Index	-
N° of holdings	124	501
Asset class	Equities	-
Trailing 12m distribution yield	Join	Join
Inception date	September 12, 2016	December 31, 2024
ESG	No	No

More FQAL data on Trackinsight

More DMAX data on Trackinsight

Exposure

Countries

FQAL

USA

97.73%

Other

2.27%

DMAX

USA

101.93%

Other

-1.93%

Sectors

FQAL

Technology

42.52%

Finance

13.54%

Healthcare

9.52%

Industrials

7.72%

Other

26.71%

DMAX

Technology

46.39%

Finance

14.53%

Healthcare

9.31%

Consumer Non-Cycl.

9.26%

Industrials

8.12%

Other

12.39%

Diversification

FQAL

Total weight of top 15 holdings out of 15

44.26%

DMAX

Total weight of top 15 holdings out of 15

45.18%

Top 15 holdings

Data as of July 31, 2026

FQAL

Apple, Inc.

7.97%

NVIDIA Corp.

7.57%

Alphabet, Inc.

5.25%

Microsoft Corp.

4.77%

Broadcom Inc.

3.29%

Meta Platforms, Inc.

2.03%

JPMorgan Chase & Co.

2.02%

Eli Lilly & Co.

1.88%

Visa, Inc.

1.49%

Cisco Systems, Inc.

1.46%

Applied Materials, Inc.

1.44%

Johnson & Johnson

1.42%

Seagate Technology Holdings Plc

1.24%

Lam Research Corp.

1.21%

The Home Depot, Inc.

1.21%

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 FQAL and DMAX

How have the FQAL and DMAX ETFs performed in 2026?

As of September 8, 2026, FQAL is up 11.79% year-to-date (YTD), while DMAX has returned 4.14%. That puts FQAL better performer ahead so far this year.

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

Year-to-date, the FQAL ETF saw +$135M in flows, compared to +$50M for DMAX.

Which ETF is more volatile: FQAL or DMAX?

Over the past year, FQAL had a volatility of 11.42%, while DMAX experienced 2.22%.

Which ETF is bigger: FQAL or DMAX?

As of September 8, 2026, FQAL holds $1.44 B in assets under management (AUM), while DMAX manages $136.48 M.

What sectors do the FQAL and DMAX ETFs invest in?

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

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

FQAL top holdings include Apple, Inc., NVIDIA Corp. and Alphabet, Inc.. DMAX holds in its top three: Apple, Inc., NVIDIA Corp. and Microsoft Corp..

Which ETF is more diversified: FQAL or DMAX?

FQAL holds 124 securities with 44.26% of its assets in the top 15. DMAX has 504 securities and a top 15 weight of 45.18%.

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June 15, 2022

FQAL

FQALvsDMAXETF Comparison

Fidelity Quality Factor ETF

iShares Large Cap Max Buffer Dec ETF

FQAL 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 FQAL and DMAX ETFs performed in 2026?

As of September 8, 2026, FQAL is up 11.79% year-to-date (YTD), while DMAX has returned 4.14%. That puts FQAL better performer ahead so far this year.

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

Year-to-date, the FQAL ETF saw +$135M in flows, compared to +$50M for DMAX.

Which ETF is more volatile: FQAL or DMAX?

Over the past year, FQAL had a volatility of 11.42%, while DMAX experienced 2.22%.

Which ETF is bigger: FQAL or DMAX?

As of September 8, 2026, FQAL holds $1.44 B in assets under management (AUM), while DMAX manages $136.48 M.

What sectors do the FQAL and DMAX ETFs invest in?

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

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

FQAL top holdings include Apple, Inc., NVIDIA Corp. and Alphabet, Inc.. DMAX holds in its top three: Apple, Inc., NVIDIA Corp. and Microsoft Corp..

Which ETF is more diversified: FQAL or DMAX?

FQAL holds 124 securities with 44.26% of its assets in the top 15. DMAX has 504 securities and a top 15 weight of 45.18%.

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