MAXJ vs. IWM
MAXJ (iShares Large Cap Max Buffer Jun ETF) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - MAXJ is a Equity Hedged fund actively managed by iShares, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. MAXJ is actively managed, while IWM is passively managed. Over the past year, MAXJ returned 8.35% vs 40.90% for IWM. A 0.65 correlation means they provide meaningful diversification when combined. MAXJ charges 0.50%/yr vs 0.19%/yr for IWM.
Performance
MAXJ vs. IWM - Performance Comparison
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Returns By Period
In the year-to-date period, MAXJ achieves a 3.14% return, which is significantly lower than IWM's 20.47% return.
MAXJ
- 1D
- -0.03%
- 1M
- 0.48%
- YTD
- 3.14%
- 6M
- 3.08%
- 1Y
- 8.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IWM
- 1D
- -0.96%
- 1M
- 3.82%
- YTD
- 20.47%
- 6M
- 17.64%
- 1Y
- 40.90%
- 3Y*
- 19.22%
- 5Y*
- 6.27%
- 10Y*
- 11.58%
MAXJ vs. IWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MAXJ iShares Large Cap Max Buffer Jun ETF | 3.14% | 8.97% | 4.56% |
IWM iShares Russell 2000 ETF | 20.47% | 12.66% | 9.60% |
Correlation
The correlation between MAXJ and IWM is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2024 | 0.65 |
The correlation between MAXJ and IWM has been stable across timeframes, ranging from 0.60 to 0.65 - a consistent structural relationship.
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Return for Risk
MAXJ vs. IWM — Risk / Return Rank
MAXJ
IWM
MAXJ vs. IWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap Max Buffer Jun ETF (MAXJ) and iShares Russell 2000 ETF (IWM). 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.
| MAXJ | IWM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.38 | ||
| Sortino ratioReturn per unit of downside risk | +2.88 | ||
| Omega ratioGain probability vs. loss probability | 1.79 | 1.34 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 4.92 | 3.73 | +1.19 |
| Martin ratioReturn relative to average drawdown | 28.96 | 13.18 | +15.78 |
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Drawdowns
MAXJ vs. IWM - Drawdown Comparison
The maximum MAXJ drawdown since its inception was -6.35%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for MAXJ and IWM.
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Drawdown Indicators
| MAXJ | IWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.35% | -59.05% | +52.70% |
Max Drawdown (1Y)Largest decline over 1 year | -1.70% | -11.03% | +9.33% |
Max Drawdown (3Y)Largest decline over 3 years | — | -27.50% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.91% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.13% | — |
Current DrawdownCurrent decline from peak | -0.03% | -0.96% | +0.93% |
Average DrawdownAverage peak-to-trough decline | -0.55% | -10.75% | +10.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.29% | 3.11% | -2.82% |
Volatility
MAXJ vs. IWM - Volatility Comparison
The current volatility for iShares Large Cap Max Buffer Jun ETF (MAXJ) is 0.30%, while iShares Russell 2000 ETF (IWM) has a volatility of 6.56%. This indicates that MAXJ experiences smaller price fluctuations and is considered to be less risky than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MAXJ | IWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.30% | 6.56% | -6.26% |
Volatility (6M)Calculated over the trailing 6-month period | 1.89% | 14.31% | -12.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.51% | 19.74% | -17.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.21% | 22.61% | -17.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.21% | 23.06% | -17.85% |
MAXJ vs. IWM - Expense Ratio Comparison
MAXJ has a 0.50% expense ratio, which is higher than IWM's 0.19% expense ratio.
Dividends
MAXJ vs. IWM - Dividend Comparison
MAXJ's dividend yield for the trailing twelve months is around 0.98%, more than IWM's 0.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWM iShares Russell 2000 ETF | 0.90% | 1.04% | 1.15% | 1.35% | 1.48% | 0.94% | 1.04% | 1.26% | 1.40% | 1.26% | 1.38% | 1.54% |
MAXJ iShares Large Cap Max Buffer Jun ETF | 0.98% | 1.01% | 0.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MAXJ and IWM have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWM has higher volatility (6.56%) compared to MAXJ (0.30%). In terms of maximum drawdown, MAXJ dropped -6.35% vs IWM's -59.05%.
On 1-year performance, IWM leads with 40.90% vs 8.35% for MAXJ. On fees, IWM is cheaper at 0.19% per year. On volatility, MAXJ has been the lower-risk option at 0.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IWM has performed better with a 40.90% return vs 8.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWM is cheaper with a 0.19% expense ratio, compared with 0.50% for MAXJ.
MAXJ has the higher dividend yield at 0.98%, compared with 0.90% for IWM.
MAXJ is categorized as Equity Hedged, while IWM is Small Cap Blend Equities. Their fees differ too: 0.50% for MAXJ and 0.19% for IWM.
MAXJ currently has the higher Sharpe Ratio (3.46 vs 2.08), 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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