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TSPAvsSMAXETF Comparison

ETF 1

TSPA

T. Rowe Price U.S. Equity Research ETF

This fund is part of

US Large Cap

-0.28%

Full TSPA fund page

VS

ETF 2

SMAX

iShares Large Cap Max Buffer Sep ETF

This fund is part of

Options Strategies

-0.09%

Full SMAX fund page

T. Rowe Price U.S. Equity Research ETF (TSPA) belongs to the US Large Cap segment. iShares Large Cap Max Buffer Sep ETF (SMAX) is part of the Options Strategies segment. TSPA's top 3 sector exposures are Technology, Finance and Consumer Non-Cyclicals. In contrast, SMAX's top sector exposures are Technology, Finance and Healthcare. TSPA is less expensive with a Total Expense Ratio (TER) of 0.34%, versus 0.53% for SMAX. TSPA is up 12.96% year-to-date (YTD) with +$2.03B in YTD flows. SMAX performs worse with 5.2% YTD performance, and -$34M in YTD flows. Run a side-by-side ETF comparison of TSPA 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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TSPA 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 08/31/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	TSPA SMAX	+2.57%+0.85%	+1.03%+1.71%	+12.96%+5.20%	+20.70%+7.64%	+77.81%n/a	+82.96%n/a
Flows	TSPA SMAX	+$150M-$1M	+$1.01B-$7M	+$2.03B-$34M	+$2.14B+$515K	+$3.73B-	+$3.74B-

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	TSPA SMAX	+13.94%+2.45%	+13.19%+2.77%	+15.31%n/a	+17.72%n/a
Max drawdown	TSPA SMAX	-4.52%-0.70%	-9.19%-1.93%	-19.15%n/a	-24.81%n/a
Max drawdown duration	TSPA SMAX	62d10d	75d44d	127dn/a	704dn/a

Trading data

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	TSPA	SMAX
Last sale 9/1/2026 at 1:30 PM	$47.93	$28.24
Previous close 08/31/2026	$48.29	$28.29
Consolidated volume 08/31/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Main metrics

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

Live

Closed

	TSPA	SMAX
Last price	$47.93	$28.24
1D performance	-0.75%	-0.18%
AuM	$4.50 B	$88.26 M
E/R	0.34%	0.53%

Characteristics

	TSPA	SMAX
Management strategy	Active	Active
Provider	T. Rowe Price	iShares
Benchmark	-	-
N° of holdings	327	496
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	June 8, 2021	September 30, 2024
ESG	No	No

More TSPA data on Trackinsight

More SMAX data on Trackinsight

Exposure

Countries

TSPA

USA

95.3%

Other

4.7%

SMAX

USA

100.92%

Other

-0.92%

Sectors

TSPA

Technology

45.36%

Finance

13.87%

Consumer Non-Cycl.

9.38%

Healthcare

8.8%

Industrials

7.53%

Other

15.06%

SMAX

Technology

46.23%

Finance

14.48%

Healthcare

9.28%

Consumer Non-Cycl.

9.23%

Industrials

7.84%

Other

12.94%

Diversification

TSPA

Total weight of top 15 holdings out of 15

45.1%

SMAX

Total weight of top 15 holdings out of 15

45.4%

Top 15 holdings

Data as of July 31, 2026

TSPA

Apple, Inc.

7.69%

NVIDIA Corp.

7.68%

Microsoft Corp.

5.42%

Amazon.com, Inc.

4.21%

Alphabet, Inc.

3.43%

Broadcom Inc.

3.00%

Alphabet, Inc.

2.69%

Meta Platforms, Inc.

2.07%

Eli Lilly & Co.

1.46%

JPMorgan Chase & Co.

1.43%

Advanced Micro Devices, Inc.

1.33%

Tesla, Inc.

1.30%

Micron Technology, Inc.

1.26%

Mastercard, Inc.

1.19%

Johnson & Johnson

0.93%

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 TSPA and SMAX

TSPAvsSMAXETF Comparison

T. Rowe Price U.S. Equity Research ETF

iShares Large Cap Max Buffer Sep ETF

TSPA 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 TSPA and SMAX ETFs performed in 2026?

As of August 31, 2026, TSPA is up 12.96% year-to-date (YTD), while SMAX has returned 5.2%. That puts TSPA better performer ahead so far this year.

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

Year-to-date, the TSPA ETF saw +$2.03B in flows, compared to -$34M for SMAX.

Which ETF is more volatile: TSPA or SMAX?

Over the past year, TSPA had a volatility of 13.19%, while SMAX experienced 2.77%.

Which ETF is bigger: TSPA or SMAX?

As of August 31, 2026, TSPA holds $4.50 B in assets under management (AUM), while SMAX manages $88.26 M.

What sectors do the TSPA and SMAX ETFs invest in?

TSPA 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 TSPA ETF and SMAX ETF?

TSPA 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: TSPA or SMAX?

TSPA holds 333 securities with 45.1% of its assets in the top 15. SMAX has 504 securities and a top 15 weight of 45.4%.

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