DDFF vs. DMAX
DDFF (Innovator Equity Dual Directional 15 Buffer ETF - February) and DMAX (iShares Large Cap Max Buffer December ETF) are both Defined Outcome funds. DDFF is actively managed, while DMAX is passively managed. Their correlation of 0.84 suggests significant overlap in exposure. DDFF charges 0.79%/yr vs 0.50%/yr for DMAX.
Performance
DDFF vs. DMAX - Performance Comparison
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Returns By Period
DDFF
- 1D
- -0.02%
- 1M
- 0.48%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DMAX
- 1D
- -0.02%
- 1M
- 0.22%
- YTD
- 2.34%
- 6M
- 2.59%
- 1Y
- 8.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DDFF vs. DMAX - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
DDFF Innovator Equity Dual Directional 15 Buffer ETF - February | 3.29% |
DMAX iShares Large Cap Max Buffer December ETF | 2.00% |
Correlation
The correlation between DDFF and DMAX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 2, 2026 | 0.84 |
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Return for Risk
DDFF vs. DMAX — Risk / Return Rank
DDFF
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
DMAX
DDFF vs. DMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Dual Directional 15 Buffer ETF - February (DDFF) and iShares Large Cap Max Buffer December ETF (DMAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| DDFF | DMAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.76 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 5.85 | — |
| Martin ratioReturn relative to average drawdown | — | 29.41 | — |
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Drawdowns
DDFF vs. DMAX - Drawdown Comparison
The maximum DDFF drawdown since its inception was -3.72%, which is greater than DMAX's maximum drawdown of -3.37%. Use the drawdown chart below to compare losses from any high point for DDFF and DMAX.
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Drawdown Indicators
| DDFF | DMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.72% | -3.37% | -0.35% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.41% | — |
Current DrawdownCurrent decline from peak | -0.18% | -0.24% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -0.59% | -0.38% | -0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.28% | — |
Volatility
DDFF vs. DMAX - Volatility Comparison
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Volatility by Period
| DDFF | DMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.64% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.64% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 5.81% | 2.34% | +3.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.81% | 3.38% | +2.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.81% | 3.38% | +2.43% |
DDFF vs. DMAX - Expense Ratio Comparison
DDFF has a 0.79% expense ratio, which is higher than DMAX's 0.50% expense ratio.
Dividends
DDFF vs. DMAX - Dividend Comparison
DDFF has not paid dividends to shareholders, while DMAX's dividend yield for the trailing twelve months is around 1.15%.
| Position | TTM | 2025 |
|---|---|---|
DDFF Innovator Equity Dual Directional 15 Buffer ETF - February | 0.00% | 0.00% |
DMAX iShares Large Cap Max Buffer December ETF | 1.15% | 1.18% |
Frequently Asked Questions
DDFF and DMAX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DMAX is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DMAX is cheaper with a 0.50% expense ratio, compared with 0.79% for DDFF.
DMAX has the higher dividend yield at 1.15%, compared with 0.00% for DDFF.
They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for DDFF and 0.50% for DMAX.
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