iShares Large Cap Max Buffer December ETF (DMAX) belongs to the Defined Outcome category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with DMAX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to DMAX
DMAX charges 0.50% annually. There are 5 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | DMAX vs JANB | |
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | DMAX vs JULB | |
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | DMAX vs OCTB | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | DMAX vs APRB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | DMAX vs FBUF |
Best Risk-Adjusted Alternatives to DMAX
DMAX has a PortfoliosLab risk / return rank of 96. There are 29 ETFs in the Defined Outcome category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 99 | — | Mar 2025 | DMAX vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 21.00M | Apr 2025 | DMAX vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | DMAX vs MMAX | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | DMAX vs ZAPR | |
| Calamos Russell 2000 Structured Alt Protection ETF... | 98 | 13.20M | Apr 2025 | DMAX vs CPRA |
Top Performing DMAX Alternatives (YTD)
DMAX is at 3.19% YTD. There are 230 ETFs in the Defined Outcome category with higher YTD returns, going as high as 16.35%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Leverage Shares 2x Capped Accelerated NVDA Monthly... | 16.35% | — | Aug 2025 | DMAX vs NVDO | |
| ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 13.84% | 2.87M | Jun 2025 | DMAX vs QB | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 13.73% | — | Jan 2025 | DMAX vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 13.09% | 214.27M | Mar 2020 | DMAX vs KAPR | |
| FT Cboe Vest Nasdaq-100 Buffer ETF - March | 11.91% | 566.25M | Mar 2021 | DMAX vs QMAR |
Lowest Volatility Alternatives to DMAX
DMAX has 2.33% 1-year volatility. There are 41 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.18%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 1.18% | — | Mar 2025 | DMAX vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.33% | — | Apr 2025 | DMAX vs APXM | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.40% | 21.00M | Apr 2025 | DMAX vs CPSP | |
| PGIM S&P 500 Max Buffer ETF - May | 1.40% | — | Apr 2025 | DMAX vs PMMY | |
| iShares Large Cap Max Buffer Mar ETF | 1.44% | — | Mar 2025 | DMAX vs MMAX |
Lowest Drawdown Alternatives to DMAX
DMAX has a 1-year max drawdown of -1.41%. There are 32 ETFs in the Defined Outcome category with shallower 1-year drawdowns, going as shallow as -0.35%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | -0.35% | — | Mar 2025 | DMAX vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 21.00M | Apr 2025 | DMAX vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | DMAX vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | DMAX vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.60M | May 2024 | DMAX vs CPSM |
Other ETFs from iShares
The 10 most viewed iShares ETFs shown here include SGOV, IBIT, SOXX and span 14 categories. AUM among these funds goes as high as $869B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | Ultrashort Bond | 100 | 2.11% | 99.95B | May 2020 | DMAX vs SGOV | |
| iShares Bitcoin Trust ETF | Cryptocurrency | 1 | -28.22% | 46.52B | Jan 2024 | DMAX vs IBIT | |
| iShares Semiconductor ETF | Semiconductors, Technology Equities | 90 | 67.84% | 44.69B | Jul 2001 | DMAX vs SOXX | |
| iShares Core S&P 500 ETF | S&P 500 | 67 | 10.13% | 869.20B | May 2000 | DMAX vs IVV | |
| iShares Core Dividend Growth ETF | Large Cap Growth Equities, Dividend | 91 | 13.39% | 42.77B | Jun 2014 | DMAX vs DGRO | |
| iShares 20+ Year Treasury Bond ETF | Government Bonds, Long-Term Bond | 9 | -3.49% | 41.54B | Jul 2002 | DMAX vs TLT | |
| iShares Silver Trust | Silver, Precious Metals | 36 | -18.72% | 28.08B | Apr 2006 | DMAX vs SLV | |
| iShares Gold Trust | Gold, Precious Metals | 30 | -6.16% | 59.74B | Jan 2005 | DMAX vs IAU | |
| iShares Russell 2000 ETF | Small Cap Blend Equities | 79 | 18.79% | 80.11B | May 2000 | DMAX vs IWM | |
| iShares MSCI ACWI ETF | Global Equities | 71 | 11.28% | 32.49B | Mar 2008 | DMAX vs ACWI |
Often Compared With DMAX
Investors most often compare DMAX with ZDEK, ZMAY, ZJUL. These 20 comparison targets span 3 categories, based on PortfoliosLab usage data.
Compare DMAX with Any Fund or Stock
Compare DMAX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair DMAX with funds that move differently
iShares Large Cap Max Buffer December ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to DMAX.
Explore DMAX Diversifiers