MAXJ vs. SNTH

Last updated Jun 24, 2026

MAXJ (iShares Large Cap Max Buffer Jun ETF) and SNTH (MRP SynthEquity ETF) are both Equity Hedged funds. Both are actively managed. Over the past year, MAXJ returned 8.35% vs 24.31% for SNTH. A 0.79 correlation means they provide meaningful diversification when combined. MAXJ charges 0.50%/yr vs 0.95%/yr for SNTH.

Performance

MAXJ vs. SNTH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Large Cap Max Buffer Jun ETF (MAXJ) and MRP SynthEquity ETF (SNTH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAXJ achieves a 3.14% return, which is significantly lower than SNTH's 7.12% return.

MAXJ

• 1D: -0.03%
• 1M: 0.48%
• YTD: 3.14%
• 6M: 3.08%
• 1Y: 8.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SNTH

• 1D: -2.85%
• 1M: -1.69%
• YTD: 7.12%
• 6M: 6.05%
• 1Y: 24.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MAXJ vs. SNTH - Yearly Performance Comparison

	2026 (YTD)	2025
MAXJ iShares Large Cap Max Buffer Jun ETF	3.14%	10.38%
SNTH MRP SynthEquity ETF	7.12%	24.27%

Correlation

The correlation between MAXJ and SNTH is 0.74, 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	0.74
Correlation (All Time) Calculated using the full available price history since Mar 11, 2025	0.79

The correlation between MAXJ and SNTH has been stable across timeframes, ranging from 0.74 to 0.79 - a consistent structural relationship.

Return for Risk

MAXJ vs. SNTH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MAXJ

MAXJ Risk / Return Rank: 94
MAXJ Sharpe Ratio Rank: 95
MAXJ Sortino Ratio Rank: 97
MAXJ Omega Ratio Rank: 96
MAXJ Calmar Ratio Rank: 88
MAXJ Martin Ratio Rank: 95

SNTH

SNTH Risk / Return Rank: 59
SNTH Sharpe Ratio Rank: 62
SNTH Sortino Ratio Rank: 59
SNTH Omega Ratio Rank: 57
SNTH Calmar Ratio Rank: 61
SNTH Martin Ratio Rank: 57

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.

MAXJ vs. SNTH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap Max Buffer Jun ETF (MAXJ) and MRP SynthEquity ETF (SNTH). 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	SNTH	Difference
Sharpe ratio: Return per unit of total volatility	3.46	1.87	+1.59
Sortino ratio: Return per unit of downside risk	5.74	2.53	+3.22
Omega ratio: Gain probability vs. loss probability	1.79	1.32	+0.47
Calmar ratio: Return relative to maximum drawdown	4.92	2.72	+2.20
Martin ratio: Return relative to average drawdown	28.96	9.20	+19.76

MAXJ vs. SNTH - Sharpe Ratio Comparison

The current MAXJ Sharpe Ratio is 3.46, which is higher than the SNTH Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of MAXJ and SNTH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MAXJ vs. SNTH - Drawdown Comparison

The maximum MAXJ drawdown since its inception was -6.35%, smaller than the maximum SNTH drawdown of -9.79%. Use the drawdown chart below to compare losses from any high point for MAXJ and SNTH.

Drawdown Indicators

	MAXJ	SNTH	Difference
Max Drawdown Largest peak-to-trough decline	-6.35%	-9.79%	+3.44%
Max Drawdown (1Y) Largest decline over 1 year	-1.70%	-8.99%	+7.29%
Current Drawdown Current decline from peak	-0.03%	-3.55%	+3.52%
Average Drawdown Average peak-to-trough decline	-0.55%	-1.97%	+1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.29%	2.65%	-2.36%

Volatility

MAXJ vs. SNTH - Volatility Comparison

The current volatility for iShares Large Cap Max Buffer Jun ETF (MAXJ) is 0.30%, while MRP SynthEquity ETF (SNTH) has a volatility of 5.23%. This indicates that MAXJ experiences smaller price fluctuations and is considered to be less risky than SNTH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAXJ	SNTH	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.30%	5.23%	-4.93%
Volatility (6M) Calculated over the trailing 6-month period	1.89%	9.40%	-7.51%
Volatility (1Y) Calculated over the trailing 1-year period	2.51%	13.12%	-10.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.21%	15.83%	-10.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.21%	15.83%	-10.62%

MAXJ vs. SNTH - Expense Ratio Comparison

MAXJ has a 0.50% expense ratio, which is lower than SNTH's 0.95% expense ratio.

Dividends

MAXJ vs. SNTH - Dividend Comparison

MAXJ's dividend yield for the trailing twelve months is around 0.98%, less than SNTH's 11.24% yield.

Position	TTM	2025	2024
MAXJ iShares Large Cap Max Buffer Jun ETF	0.98%	1.01%	0.81%
SNTH MRP SynthEquity ETF	11.24%	11.55%	0.00%

Frequently Asked Questions

Can I hold both MAXJ and SNTH in my portfolio?

MAXJ and SNTH have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAXJ or SNTH?

SNTH has higher volatility (5.23%) compared to MAXJ (0.30%). In terms of maximum drawdown, MAXJ dropped -6.35% vs SNTH's -9.79%.

Which ETF is better, MAXJ or SNTH?

On 1-year performance, SNTH leads with 24.31% vs 8.35% for MAXJ. On fees, MAXJ is cheaper at 0.50% 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.

Which ETF has performed better, MAXJ or SNTH?

Over the 1-year period, SNTH has performed better with a 24.31% return vs 8.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAXJ or SNTH?

MAXJ is cheaper with a 0.50% expense ratio, compared with 0.95% for SNTH.

Which ETF pays a higher dividend yield, MAXJ or SNTH?

SNTH has the higher dividend yield at 11.24%, compared with 0.98% for MAXJ.

What is the main difference between MAXJ and SNTH?

They also come from different issuers: iShares and MRP. Their fees differ too: 0.50% for MAXJ and 0.95% for SNTH.

Which has better risk-adjusted returns?

MAXJ currently has the higher Sharpe Ratio (3.46 vs 1.87), 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.