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SPXVvsSMAXETF Comparison

ETF 1

SPXV

ProShares S&P 500 Ex-Health Care ETF

This fund is part of

US Large Cap

-0.46%

Full SPXV fund page

VS

ETF 2

SMAX

iShares Large Cap Max Buffer Sep ETF

This fund is part of

Options Strategies

-0.35%

Full SMAX fund page

ProShares S&P 500 Ex-Health Care ETF (SPXV) belongs to the US Large Cap segment. iShares Large Cap Max Buffer Sep ETF (SMAX) is part of the Options Strategies segment. SPXV's top 3 sector exposures are Technology, Finance and Consumer Non-Cyclicals. In contrast, SMAX's top sector exposures are Technology, Finance and Healthcare. SPXV is less expensive with a Total Expense Ratio (TER) of 0.13%, versus 0.53% for SMAX. SPXV is up 11.91% year-to-date (YTD) with +$832K in YTD flows. SMAX performs worse with 5.37% YTD performance, and -$34M in YTD flows. Run a side-by-side ETF comparison of SPXV and SMAX 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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SPXV vs SMAX 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 09/15/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	SPXV SMAX	-2.17%+0.41%	-0.21%+1.76%	+11.91%+5.37%	+15.05%+7.18%	+83.12%n/a	+87.48%n/a
Flows	SPXV SMAX	--$1M	+$832K-$4M	+$832K-$34M	+$2M+$515K	+$8M-	+$20M-

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	SPXV SMAX	+12.86%+2.05%	+13.83%+2.77%	+16.05%n/a	+18.15%n/a
Max drawdown	SPXV SMAX	-4.19%-0.49%	-9.14%-1.93%	-19.85%n/a	-26.54%n/a
Max drawdown duration	SPXV SMAX	46d14d	75d44d	124dn/a	707dn/a

Trading data

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	SPXV	SMAX
Last sale 9/16/2026 at 1:30 PM	$82.49	$28.32
Previous close 09/15/2026	$82.87	$28.33
Consolidated volume 09/15/2026
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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SMAX

is actively managed and doesn’t replicate an index

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	SPXV	SMAX
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 9/16/2026 at 1:30 PM

Live

Closed

	SPXV	SMAX
Last price	$82.49	$28.32
1D performance	-0.45%	-0.01%
AuM	$40.62 M	$88.40 M
E/R	0.13%	0.53%

Characteristics

	SPXV	SMAX
Management strategy	Passive	Active
Provider	ProShares	iShares
Benchmark	S&P 500 Ex-Health Care Index	-
N° of holdings	437	501
Asset class	Equities	-
Trailing 12m distribution yield	Join	Join
Inception date	September 22, 2015	September 30, 2024
ESG	No	No

More SPXV data on Trackinsight

More SMAX data on Trackinsight

Exposure

Countries

SPXV

USA

96.13%

Other

3.87%

SMAX

USA

102.01%

Other

-2.01%

Sectors

SPXV

Technology

48.91%

Finance

15.49%

Consumer Non-Cycl.

9.57%

Industrials

8.88%

Other

17.15%

SMAX

Technology

46.23%

Finance

14.48%

Healthcare

9.28%

Consumer Non-Cycl.

9.23%

Industrials

8.09%

Other

12.68%

Diversification

SPXV

Total weight of top 15 holdings out of 15

46.77%

SMAX

Total weight of top 15 holdings out of 15

45.4%

Top 15 holdings

Data as of July 31, 2026

SPXV

Apple, Inc.

8.54%

NVIDIA Corp.

8.22%

Microsoft Corp.

4.99%

Amazon.com, Inc.

3.91%

Alphabet, Inc.

3.31%

Broadcom Inc.

3.13%

Alphabet, Inc.

2.66%

Meta Platforms, Inc.

2.25%

Micron Technology, Inc.

1.75%

JPMorgan Chase & Co.

1.65%

Berkshire Hathaway, Inc.

1.57%

Tesla, Inc.

1.50%

Advanced Micro Devices, Inc.

1.39%

Visa, Inc.

1.04%

Walmart, Inc.

0.85%

SMAX

Apple, Inc.

7.90%

NVIDIA Corp.

7.62%

Microsoft Corp.

5.40%

Amazon.com, Inc.

3.72%

Alphabet, Inc.

3.16%

Broadcom Inc.

2.96%

Alphabet, Inc.

2.54%

Meta Platforms, Inc.

1.91%

Micron Technology, Inc.

1.59%

JPMorgan Chase & Co.

1.52%

Berkshire Hathaway, Inc.

1.51%

Eli Lilly & Co.

1.47%

BlackRock Cash Funds - Treasury

1.42%

Tesla, Inc.

1.40%

Advanced Micro Devices, Inc.

1.28%

Frequently asked questions about SPXV and SMAX

How have the SPXV and SMAX ETFs performed in 2026?

As of September 15, 2026, SPXV is up 11.91% year-to-date (YTD), while SMAX has returned 5.37%. That puts SPXV better performer ahead so far this year.

Which ETF is attracting more investor money: SPXV or SMAX?

Year-to-date, the SPXV ETF saw +$832K in flows, compared to -$34M for SMAX.

Which ETF is more volatile: SPXV or SMAX?

Over the past year, SPXV had a volatility of 13.83%, while SMAX experienced 2.77%.

Which ETF is bigger: SPXV or SMAX?

As of September 15, 2026, SPXV holds $40.62 M in assets under management (AUM), while SMAX manages $88.40 M.

What sectors do the SPXV and SMAX ETFs invest in?

SPXV leans toward sectors like Technology, Finance and Consumer Non-Cyclicals. Meanwhile, SMAX focuses on Technology, Finance and Healthcare.

What are the top holdings of the SPXV ETF and SMAX ETF?

SPXV top holdings include Apple, Inc., NVIDIA Corp. and Microsoft Corp.. SMAX holds in its top three: Apple, Inc., NVIDIA Corp. and Microsoft Corp..

Which ETF is more diversified: SPXV or SMAX?

SPXV holds 440 securities with 46.77% of its assets in the top 15. SMAX has 504 securities and a top 15 weight of 45.4%.

Simeon Hyman Talks Ex-Sector ETFs

November 1, 2022

SPXV

SPXVvsSMAXETF Comparison

ProShares S&P 500 Ex-Health Care ETF

iShares Large Cap Max Buffer Sep ETF

SPXV vs SMAX 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 SPXV and SMAX ETFs performed in 2026?

As of September 15, 2026, SPXV is up 11.91% year-to-date (YTD), while SMAX has returned 5.37%. That puts SPXV better performer ahead so far this year.

Which ETF is attracting more investor money: SPXV or SMAX?

Year-to-date, the SPXV ETF saw +$832K in flows, compared to -$34M for SMAX.

Which ETF is more volatile: SPXV or SMAX?

Over the past year, SPXV had a volatility of 13.83%, while SMAX experienced 2.77%.

Which ETF is bigger: SPXV or SMAX?

As of September 15, 2026, SPXV holds $40.62 M in assets under management (AUM), while SMAX manages $88.40 M.

What sectors do the SPXV and SMAX ETFs invest in?

SPXV leans toward sectors like Technology, Finance and Consumer Non-Cyclicals. Meanwhile, SMAX focuses on Technology, Finance and Healthcare.

What are the top holdings of the SPXV ETF and SMAX ETF?

SPXV top holdings include Apple, Inc., NVIDIA Corp. and Microsoft Corp.. SMAX holds in its top three: Apple, Inc., NVIDIA Corp. and Microsoft Corp..

Which ETF is more diversified: SPXV or SMAX?

SPXV holds 440 securities with 46.77% of its assets in the top 15. SMAX has 504 securities and a top 15 weight of 45.4%.

Simeon Hyman Talks Ex-Sector ETFs

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