MAXJ vs. XCLR

Last updated Jun 6, 2026

MAXJ (iShares Large Cap Max Buffer Jun ETF) and XCLR (Global X S&P 500 Collar 95-110 ETF) are both Equity Hedged funds. MAXJ is actively managed, while XCLR is passively managed. Over the past year, MAXJ returned 9.57% vs 13.65% for XCLR. Their correlation of 0.83 suggests significant overlap in exposure. MAXJ charges 0.50%/yr vs 0.25%/yr for XCLR.

Performance

MAXJ vs. XCLR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Large Cap Max Buffer Jun ETF (MAXJ) and Global X S&P 500 Collar 95-110 ETF (XCLR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAXJ achieves a 2.84% return, which is significantly higher than XCLR's 2.04% return.

MAXJ

• 1D: 0.00%
• 1M: 0.55%
• YTD: 2.84%
• 6M: 3.38%
• 1Y: 9.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XCLR

• 1D: -0.37%
• 1M: 1.08%
• YTD: 2.04%
• 6M: 1.62%
• 1Y: 13.65%
• 3Y*: 13.25%
• 5Y*: —
• 10Y*: —

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

MAXJ vs. XCLR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MAXJ iShares Large Cap Max Buffer Jun ETF	2.84%	8.97%	4.55%
XCLR Global X S&P 500 Collar 95-110 ETF	2.04%	10.25%	6.11%

Correlation

The correlation between MAXJ and XCLR is 0.78, 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	0.78
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024	0.83

The correlation between MAXJ and XCLR has been stable across timeframes, ranging from 0.78 to 0.83 - a consistent structural relationship.

Return for Risk

MAXJ vs. XCLR — 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: 93
MAXJ Sortino Ratio Rank: 96
MAXJ Omega Ratio Rank: 96
MAXJ Calmar Ratio Rank: 91
MAXJ Martin Ratio Rank: 96

XCLR

XCLR Risk / Return Rank: 45
XCLR Sharpe Ratio Rank: 49
XCLR Sortino Ratio Rank: 47
XCLR Omega Ratio Rank: 49
XCLR Calmar Ratio Rank: 35
XCLR Martin Ratio Rank: 43

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. XCLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap Max Buffer Jun ETF (MAXJ) and Global X S&P 500 Collar 95-110 ETF (XCLR). 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.

	MAXJ	XCLR	Difference
Sharpe ratio: Return per unit of total volatility	3.33	1.60	+1.73
Sortino ratio: Return per unit of downside risk	5.53	2.22	+3.31
Omega ratio: Gain probability vs. loss probability	1.81	1.29	+0.51
Calmar ratio: Return relative to maximum drawdown	5.64	1.65	+3.98
Martin ratio: Return relative to average drawdown	32.01	6.65	+25.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAXJ vs. XCLR - Sharpe Ratio Comparison

The current MAXJ Sharpe Ratio is 3.33, which is higher than the XCLR Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of MAXJ and XCLR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MAXJ	XCLR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.33	1.60	+1.73
Sharpe Ratio (All Time) Calculated using the full available price history	1.63	0.73	+0.91

Drawdowns

MAXJ vs. XCLR - Drawdown Comparison

The maximum MAXJ drawdown since its inception was -6.35%, smaller than the maximum XCLR drawdown of -14.63%. Use the drawdown chart below to compare losses from any high point for MAXJ and XCLR.

Drawdown Indicators

	MAXJ	XCLR	Difference
Max Drawdown Largest peak-to-trough decline	-6.35%	-14.63%	+8.28%
Max Drawdown (1Y) Largest decline over 1 year	-1.70%	-8.29%	+6.59%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.46%	—
Current Drawdown Current decline from peak	-0.03%	-0.37%	+0.34%
Average Drawdown Average peak-to-trough decline	-0.56%	-4.70%	+4.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.30%	2.06%	-1.76%

Volatility

MAXJ vs. XCLR - Volatility Comparison

The current volatility for iShares Large Cap Max Buffer Jun ETF (MAXJ) is 0.29%, while Global X S&P 500 Collar 95-110 ETF (XCLR) has a volatility of 0.68%. This indicates that MAXJ experiences smaller price fluctuations and is considered to be less risky than XCLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAXJ	XCLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.29%	0.68%	-0.39%
Volatility (6M) Calculated over the trailing 6-month period	1.91%	6.18%	-4.27%
Volatility (1Y) Calculated over the trailing 1-year period	2.91%	8.57%	-5.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.27%	10.43%	-5.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.27%	10.43%	-5.16%

MAXJ vs. XCLR - Expense Ratio Comparison

MAXJ has a 0.50% expense ratio, which is higher than XCLR's 0.25% expense ratio.

Dividends

MAXJ vs. XCLR - Dividend Comparison

MAXJ's dividend yield for the trailing twelve months is around 0.98%, less than XCLR's 12.89% yield.

Position	TTM	2025	2024	2023	2022	2021
MAXJ iShares Large Cap Max Buffer Jun ETF	0.98%	1.01%	0.81%	0.00%	0.00%	0.00%
XCLR Global X S&P 500 Collar 95-110 ETF	12.89%	13.15%	18.76%	1.40%	1.01%	1.70%

Frequently Asked Questions

Can I hold both MAXJ and XCLR in my portfolio?

MAXJ and XCLR have a correlation of 0.78, 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 XCLR?

XCLR has higher volatility (0.68%) compared to MAXJ (0.29%). In terms of maximum drawdown, MAXJ dropped -6.35% vs XCLR's -14.63%.

Which ETF is better, MAXJ or XCLR?

On 1-year performance, XCLR leads with 13.65% vs 9.57% for MAXJ. On fees, XCLR is cheaper at 0.25% per year. On volatility, MAXJ has been the lower-risk option at 0.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAXJ or XCLR?

Over the 1-year period, XCLR has performed better with a 13.65% return vs 9.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAXJ or XCLR?

XCLR is cheaper with a 0.25% expense ratio, compared with 0.50% for MAXJ.

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

XCLR has the higher dividend yield at 12.89%, compared with 0.98% for MAXJ.

What is the main difference between MAXJ and XCLR?

They also come from different issuers: iShares and Global X. Their fees differ too: 0.50% for MAXJ and 0.25% for XCLR.

Which has better risk-adjusted returns?

MAXJ currently has the higher Sharpe Ratio (3.33 vs 1.60), 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.