DECM vs. DMAX
DECM (FT Vest U.S. Equity Max Buffer ETF - December) and DMAX (iShares Large Cap Max Buffer December ETF) are both Defined Outcome funds - DECM tracks the S&P 500 while DMAX tracks the S&P 500 Index. Both are passively managed. Over the past year, DECM returned 7.02% vs 7.41% for DMAX. Their correlation of 0.85 means they have usually moved in the same direction. DECM charges 0.85%/yr vs 0.50%/yr for DMAX.
Performance
DECM vs. DMAX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with DECM having a 3.22% return and DMAX slightly lower at 3.19%.
DECM
- 1D
- 0.21%
- 1M
- 0.53%
- 6M
- 2.77%
- YTD
- 3.22%
- 1Y
- 7.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.22%
DMAX
- 1D
- 0.27%
- 1M
- 0.66%
- 6M
- 2.84%
- YTD
- 3.19%
- 1Y
- 7.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $23.88K | $19.38K | $108.16K | |
| $158.92K | $293.43K | $280.72K |
DECM vs. DMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DECM FT Vest U.S. Equity Max Buffer ETF - December | 3.22% | 6.85% |
DMAX iShares Large Cap Max Buffer December ETF | 3.19% | 7.51% |
Correlation
The correlation between DECM and DMAX is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2025 | 0.85 |
The correlation between DECM and DMAX has been stable across timeframes, ranging from 0.84 to 0.85 - a consistent structural relationship.
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Return for Risk
DECM vs. DMAX — Risk / Return Rank
DECM
DMAX
DECM vs. DMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Max Buffer ETF - December (DECM) 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.
| DECM | DMAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.61 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.95 | 4.97 | -1.02 |
| Martin ratioReturn relative to average drawdown | 20.19 | 24.54 | -4.35 |
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Drawdowns
DECM vs. DMAX - Drawdown Comparison
The maximum DECM drawdown since its inception was -3.00%, smaller than the maximum DMAX drawdown of -3.37%. Use the drawdown chart below to compare losses from any high point for DECM and DMAX.
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Drawdown Indicators
| DECM | DMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.00% | -3.37% | +0.37% |
Max Drawdown (1Y)Largest decline over 1 year | -1.71% | -1.41% | -0.30% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.35% | -0.36% | +0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.33% | 0.29% | +0.04% |
Volatility
DECM vs. DMAX - Volatility Comparison
FT Vest U.S. Equity Max Buffer ETF - December (DECM) and iShares Large Cap Max Buffer December ETF (DMAX) have volatilities of 0.58% and 0.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DECM | DMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 0.60% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.92% | 1.70% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.40% | 2.33% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.91% | 3.30% | -0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.91% | 3.30% | -0.39% |
DECM vs. DMAX - Expense Ratio Comparison
DECM has a 0.85% expense ratio, which is higher than DMAX's 0.50% expense ratio.
Dividends
DECM vs. DMAX - Dividend Comparison
DECM has not paid dividends to shareholders, while DMAX's dividend yield for the trailing twelve months is around 1.14%.
| Position | TTM | 2025 |
|---|---|---|
DECM FT Vest U.S. Equity Max Buffer ETF - December | 0.00% | 0.00% |
DMAX iShares Large Cap Max Buffer December ETF | 1.14% | 1.18% |
Frequently Asked Questions
DECM 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.
DMAX has higher volatility (0.60%) compared to DECM (0.58%). In terms of maximum drawdown, DECM dropped -3.00% vs DMAX's -3.37%.
On 1-year performance, DMAX leads with 7.41% vs 7.02% for DECM. On fees, DMAX is cheaper at 0.50% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DMAX has performed better with a 7.41% return vs 7.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DMAX is cheaper with a 0.50% expense ratio, compared with 0.85% for DECM.
DMAX has the higher dividend yield at 1.14%, compared with 0.00% for DECM.
DECM tracks S&P 500, while DMAX tracks S&P 500 Index. They also come from different issuers: FT Vest and iShares. Their fees differ too: 0.85% for DECM and 0.50% for DMAX.
DMAX currently has the higher Sharpe Ratio (3.01 vs 2.81), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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