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CUSIP
46438G588
Issuer
iShares
Inception Date
Sep 30, 2024
Leveraged
1x (No leverage)
Index Tracked
No Index (Active)
Domicile
United States
Distribution Policy
Distributing
Asset Class
Equity
Asset Class Size
Large-Cap
Asset Class Style
Blend

Share Price Chart


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Performance

SMAX Performance Chart

iShares Large Cap Max Buffer Sep ETF (SMAX) is up 3.2% since the beginning of the year. SMAX is currently trading at $28 per share.


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S&P 500 Index

Returns By Period

iShares Large Cap Max Buffer Sep ETF (SMAX) has returned 3.21% so far this year and 9.07% over the past 12 months.


iShares Large Cap Max Buffer Sep ETF

1D
-0.05%
1M
0.36%
YTD
3.21%
6M
3.24%
1Y
9.07%
3Y*
5Y*
10Y*

Benchmark (S&P 500 Index)

1D
-0.37%
1M
-0.01%
YTD
9.16%
6M
8.64%
1Y
25.22%
3Y*
19.78%
5Y*
11.99%
10Y*
13.88%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SMAX Monthly Returns History

Based on dividend-adjusted daily data since Oct 1, 2024, SMAX's average daily return is +0.03%, while the average monthly return is +0.57%. At this rate, an investment would double in approximately 10.2 years.

Historically, 81% of months were positive and 19% were negative. The best month was Apr 2026 with a return of +2.6%, while the worst month was Mar 2025 at -1.5%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 2 months.

On a daily basis, SMAX closed higher 59% of trading days. The best single day was Apr 9, 2025 with a return of +1.7%, while the worst single day was Apr 3, 2025 at -1.0%.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20260.45%0.23%-1.17%2.60%1.02%0.07%3.21%
20251.08%-0.24%-1.46%0.20%2.11%1.64%1.06%1.11%0.64%0.74%0.37%0.51%8.01%
2024-0.08%1.04%0.10%1.06%

Benchmark Metrics

iShares Large Cap Max Buffer Sep ETF has an annualized alpha of 3.83%, beta of 0.20, and R2 of 0.82 versus S&P 500 Index. Calculated based on daily prices since October 01, 2024.

  • This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (25.82%) than losses (10.76%) - typical of diversified or defensive assets.
  • This ETF generated an annualized alpha of 3.83% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
  • Beta of 0.20 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
3.83%
Beta
0.20
0.82
Upside Capture
25.82%
Downside Capture
10.76%

Expense Ratio

SMAX has an expense ratio of 0.50%, placing it in the medium range.


Return for Risk

Risk / Return Rank

SMAX ranks 93 for risk / return — in the top 93% 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.


SMAX Risk / Return Rank: 9393
Overall Rank
SMAX Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
SMAX Sortino Ratio Rank: 9696
Sortino Ratio Rank
SMAX Omega Ratio Rank: 9595
Omega Ratio Rank
SMAX Calmar Ratio Rank: 8787
Calmar Ratio Rank
SMAX Martin Ratio Rank: 9494
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

The table below present risk-adjusted performance metrics for iShares Large Cap Max Buffer Sep ETF (SMAX) 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.


SMAXBenchmarkDifference
Sharpe ratioReturn per unit of total volatility

+1.33

Sortino ratioReturn per unit of downside risk

+2.42

Omega ratioGain probability vs. loss probability

1.72

1.37

+0.36

Calmar ratioReturn relative to maximum drawdown

4.76

2.78

+1.97

Martin ratioReturn relative to average drawdown

25.48

12.44

+13.04

Dividends

Dividend History

iShares Large Cap Max Buffer Sep ETF provided a 0.95% dividend yield over the last twelve months, with an annual payout of $0.26 per share.


0.20%0.40%0.60%0.80%1.00%$0.00$0.05$0.10$0.15$0.20$0.2520242025
Dividends
Dividend Yield
PeriodTTM20252024
Dividend$0.26$0.26$0.07

Dividend yield

0.95%0.98%0.27%

Monthly Dividends

The table displays the monthly dividend distributions for iShares Large Cap Max Buffer Sep ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2026$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2025$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.26$0.26
2024$0.07$0.07

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.


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Worst Drawdowns

The table below displays the maximum drawdowns of the iShares Large Cap Max Buffer Sep 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 Sep ETF was 3.90%, occurring on Apr 8, 2025. Recovery took 27 trading sessions.

The current iShares Large Cap Max Buffer Sep ETF drawdown is 0.07%.


Related event

Drawdown

Fall

Recovery

Underwater

2025 selloff2025
-3.90%Apr 2025
1mo 16d1mo 8d
2mo 24dFeb 2025 - May 2025
2026 pullback2026
-1.91%Mar 2026
1mo 2d14d
1mo 16dFeb 2026 - Apr 2026
2025 pullback2025
-0.81%Nov 2025
22d6d
28dOct 2025 - Nov 2025
2025 selloff2025
-0.72%May 2025
3d10d
13dMay 2025 - Jun 2025
2024 pullback2024
-0.71%Dec 2024
2d5d
7dDec 2024 - Dec 2024

Drawdown Indicators


SMAXBenchmarkDifference

Max Drawdown

Largest peak-to-trough decline

-3.90%

-56.78%

+52.88%

Max Drawdown (1Y)

Largest decline over 1 year

-1.91%

-9.10%

+7.19%

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 Drawdown

Current decline from peak

-0.07%

-1.80%

+1.73%

Average Drawdown

Average peak-to-trough decline

-0.40%

-10.71%

+10.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.36%

2.03%

-1.67%

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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Portfolio Analyzer

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