MMAX vs. AIOO

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Large Cap Max Buffer Mar ETF (MMAX) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO).

MMAX and AIOO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MMAX is an actively managed fund by iShares. It was launched on Mar 31, 2025. AIOO is an actively managed fund by Allianz. It was launched on Jun 30, 2025.

Performance

MMAX vs. AIOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Large Cap Max Buffer Mar ETF (MMAX) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). The values are adjusted to include any dividend payments, if applicable.

MMAX vs. AIOO - Yearly Performance Comparison

	2026 (YTD)	2025
MMAX iShares Large Cap Max Buffer Mar ETF	1.32%	3.48%
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	0.01%	2.67%

Returns By Period

In the year-to-date period, MMAX achieves a 1.32% return, which is significantly higher than AIOO's 0.01% return.

MMAX

• 1D: 0.06%
• 1M: 0.56%
• YTD: 1.32%
• 6M: 3.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIOO

• 1D: 0.08%
• 1M: -0.25%
• YTD: 0.01%
• 6M: 0.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MMAX vs. AIOO - Expense Ratio Comparison

MMAX has a 0.50% expense ratio, which is lower than AIOO's 0.64% expense ratio.

AIOO

AllianzIM U.S. Equity Buffer100 Protection ETF

MMAX

iShares Large Cap Max Buffer Mar ETF

Return for Risk

MMAX vs. AIOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap Max Buffer Mar ETF (MMAX) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MMAX	AIOO	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.82	1.82	+1.00

Correlation

The correlation between MMAX and AIOO is 0.59, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MMAX vs. AIOO - Dividend Comparison

MMAX's dividend yield for the trailing twelve months is around 1.30%, while AIOO has not paid dividends to shareholders.

	TTM	2025
MMAX iShares Large Cap Max Buffer Mar ETF	1.30%	1.31%
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	0.00%	0.00%

Drawdowns

MMAX vs. AIOO - Drawdown Comparison

The maximum MMAX drawdown since its inception was -1.93%, which is greater than AIOO's maximum drawdown of -0.74%. Use the drawdown chart below to compare losses from any high point for MMAX and AIOO.

Drawdown Indicators

	MMAX	AIOO	Difference
Max Drawdown Largest peak-to-trough decline	-1.93%	-0.74%	-1.19%
Current Drawdown Current decline from peak	0.00%	-0.45%	+0.45%
Average Drawdown Average peak-to-trough decline	-0.11%	-0.19%	+0.08%

Volatility

Volatility by Period

	MMAX	AIOO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	2.61%	1.99%	+0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.61%	1.99%	+0.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.61%	1.99%	+0.62%