- CUSIP
- 46438G471
- Issuer
- iShares
- Inception Date
- Dec 31, 2024
- Category
- Defined Outcome
- Leveraged
- 1x (No leverage)
- Index Tracked
- S&P 500 Index
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $137M
Share Price Chart
Loading charts...
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Performance
DMAX Performance Chart
iShares Large Cap Max Buffer December ETF (DMAX) is up 2.3% since the beginning of the year. DMAX is currently trading at $27 per share.
Loading charts...
Returns By Period
iShares Large Cap Max Buffer December ETF (DMAX) has returned 2.34% so far this year and 8.23% over the past 12 months.
iShares Large Cap Max Buffer December ETF
- 1D
- -0.02%
- 1M
- 0.22%
- YTD
- 2.34%
- 6M
- 2.59%
- 1Y
- 8.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.15%
- 1Y
- 24.03%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
DMAX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 2025, DMAX's average daily return is +0.03%, while the average monthly return is +0.54%. At this rate, an investment would double in approximately 10.7 years.
Historically, 83% of months were positive and 17% were negative. The best month was Apr 2026 with a return of +1.9%, while the worst month was Mar 2025 at -1.0%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 2 months.
On a daily basis, DMAX closed higher 59% of trading days. The best single day was Apr 9, 2025 with a return of +1.6%, while the worst single day was Apr 3, 2025 at -1.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.34% | 0.13% | -0.84% | 1.92% | 0.79% | 0.00% | 2.34% | ||||||
| 2025 | 0.48% | -0.04% | -1.03% | 0.08% | 1.84% | 1.46% | 0.88% | 0.78% | 0.72% | 0.65% | 0.65% | 0.82% | 7.51% |
Benchmark Metrics
iShares Large Cap Max Buffer December ETF has an annualized alpha of 3.55%, beta of 0.17, and R2 of 0.81 versus S&P 500 Index. Calculated based on daily prices since January 02, 2025.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (22.31%) than losses (6.39%) - typical of diversified or defensive assets.
- This ETF generated an annualized alpha of 3.55% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.17 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 3.55%
- Beta
- 0.17
- R²
- 0.81
- Upside Capture
- 22.31%
- Downside Capture
- 6.39%
Expense Ratio
DMAX has an expense ratio of 0.50%, placing it in the medium range.
Return for Risk
Risk / Return Rank
DMAX ranks 95 for risk / return — in the top 95% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares Large Cap Max Buffer December ETF (DMAX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DMAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.52 | ||
| Sortino ratioReturn per unit of downside risk | +2.70 | ||
| Omega ratioGain probability vs. loss probability | 1.76 | 1.37 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 5.85 | 2.78 | +3.07 |
| Martin ratioReturn relative to average drawdown | 29.41 | 12.44 | +16.97 |
Dividends
Dividend History
iShares Large Cap Max Buffer December ETF provided a 1.15% dividend yield over the last twelve months, with an annual payout of $0.31 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $0.31 | $0.31 |
Dividend yield | 1.15% | 1.18% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares Large Cap Max Buffer December ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.31 | $0.31 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Loading charts...
Worst Drawdowns
The table below displays the maximum drawdowns of the iShares Large Cap Max Buffer December ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the iShares Large Cap Max Buffer December ETF was 3.37%, occurring on Apr 8, 2025. Recovery took 27 trading sessions.
The current iShares Large Cap Max Buffer December ETF drawdown is 0.24%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -3.37%Apr 2025 | 1mo 17d | 1mo 8d | 2mo 25dFeb 2025 - May 2025 |
2026 pullback2026 | -1.41%Mar 2026 | 29d | 17d | 1mo 16dFeb 2026 - Apr 2026 |
2025 pullback2025 | -0.64%Nov 2025 | 8d | 5d | 13dNov 2025 - Nov 2025 |
2025 pullback2025 | -0.56%Jan 2025 | 6d | 4d | 10dJan 2025 - Jan 2025 |
2025 selloff2025 | -0.55%May 2025 | 4d | 11d | 15dMay 2025 - Jun 2025 |
Drawdown Indicators
| DMAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.37% | -56.78% | +53.41% |
Max Drawdown (1Y)Largest decline over 1 year | -1.41% | -9.10% | +7.69% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.24% | -1.80% | +1.56% |
Average DrawdownAverage peak-to-trough decline | -0.38% | -10.71% | +10.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.28% | 2.03% | -1.75% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
Loading charts...
Build a portfolio with DMAX
Add iShares Large Cap Max Buffer December ETF to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Analyzer with DMAX