SMAXvsDMAXETF Comparison
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iShares Large Cap Max Buffer Sep ETF (SMAX) 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 Consumer Non-Cyclicals. Both SMAX and DMAX have the same Total Expense Ratio (TER) of 0.53%. SMAX is up 3.92% year-to-date (YTD) with -$33M in YTD flows. DMAX performs worse with 2.95% YTD performance, and +$53M in YTD flows. Run a side-by-side ETF comparison of SMAX 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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SMAX vs DMAX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/17/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SMAX DMAX | +0.65%+0.58% | +1.94%+1.60% | +3.92%+2.95% | +7.63%+6.98% | n/an/a | n/an/a |
| Flows | SMAX DMAX | -$3M+$1M | -$12M-$1M | -$33M+$53M | -$4M+$44M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SMAX DMAX | +2.45%+1.92% | +2.81%+2.31% | n/an/a | n/an/a |
| Max drawdown | SMAX DMAX | -0.70%-0.59% | -1.93%-1.47% | n/an/a | n/an/a |
| Max drawdown duration | SMAX DMAX | 10d10d | 44d44d | n/an/a | n/an/a |
Trading data
SMAX | DMAX | |
Last sale 7/17/2026 at 1:30 PM | $27.93 | $27.41 |
| Previous close 07/16/2026 | $27.96 | $27.44 |
| 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
SMAX | DMAX | |
|---|---|---|
| Last price | $27.93 | $27.41 |
| 1D performance | -0.11% | -0.11% |
| AuM | $88.31 M | $138.22 M |
| E/R | 0.53% | 0.53% |
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Exposure
Countries
SMAX
USA
104.87%
Other
-4.87%
DMAX
USA
104.62%
Other
-4.62%
Sectors
SMAX
Technology
49.73%
Finance
13.43%
Consumer Non-Cycl.
9.76%
Healthcare
8.61%
Industrials
8.06%
Other
10.4%
DMAX
Technology
49.78%
Finance
13.44%
Consumer Non-Cycl.
9.77%
Healthcare
8.62%
Industrials
8.06%
Other
10.32%
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Diversification
SMAX
Total weight of top 15 holdings out of 15
48.25%
DMAX
Total weight of top 15 holdings out of 15
48.2%
Top 15 holdings
Data as of May 31, 2026
SMAX
NVIDIA Corp.
8.38%
Apple, Inc.
7.48%
Microsoft Corp.
5.46%
Amazon.com, Inc.
4.32%
Alphabet, Inc.
3.62%
Broadcom Inc.
3.46%
Alphabet, Inc.
2.87%
Meta Platforms, Inc.
2.26%
Tesla, Inc.
2.00%
Micron Technology, Inc.
1.78%
Eli Lilly & Co.
1.43%
Berkshire Hathaway, Inc.
1.42%
Advanced Micro Devices, Inc.
1.37%
JPMorgan Chase & Co.
1.32%
BlackRock Cash Funds - Treasury
1.09%
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%
Frequently asked questions about SMAX and DMAX
How have the SMAX and DMAX ETFs performed in 2026?
As of July 17, 2026, SMAX is up 3.92% year-to-date (YTD), while DMAX has returned 2.95%. That puts SMAX better performer ahead so far this year.
Which ETF is attracting more investor money: SMAX or DMAX?
Year-to-date, the SMAX ETF saw -$33M in flows, compared to +$53M for DMAX.
Which ETF is more volatile: SMAX or DMAX?
Over the past year, SMAX had a volatility of 2.81%, while DMAX experienced 2.31%.
Which ETF is bigger: SMAX or DMAX?
As of July 17, 2026, SMAX holds $88.31 M in assets under management (AUM), while DMAX manages $138.22 M.
What sectors do the SMAX and DMAX ETFs invest in?
SMAX leans toward sectors like Technology, Finance and Consumer Non-Cyclicals. Meanwhile, DMAX focuses on Technology, Finance and Consumer Non-Cyclicals.
What are the top holdings of the SMAX ETF and DMAX ETF?
SMAX top holdings include NVIDIA Corp., Apple, Inc. and Microsoft Corp.. DMAX holds in its top three: NVIDIA Corp., Apple, Inc. and Microsoft Corp..
Which ETF is more diversified: SMAX or DMAX?
SMAX holds 504 securities with 48.25% of its assets in the top 15. DMAX has 504 securities and a top 15 weight of 48.2%.
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