MMAX vs. STIP

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Large Cap Max Buffer Mar ETF (MMAX) and iShares 0-5 Year TIPS Bond ETF (STIP).

MMAX and STIP 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. STIP is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L). It was launched on Dec 1, 2010.

Performance

MMAX vs. STIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Large Cap Max Buffer Mar ETF (MMAX) and iShares 0-5 Year TIPS Bond ETF (STIP). The values are adjusted to include any dividend payments, if applicable.

MMAX vs. STIP - Yearly Performance Comparison

	2026 (YTD)	2025
MMAX iShares Large Cap Max Buffer Mar ETF	1.32%	5.88%
STIP iShares 0-5 Year TIPS Bond ETF	1.02%	2.91%

Returns By Period

In the year-to-date period, MMAX achieves a 1.32% return, which is significantly higher than STIP's 1.02% return.

MMAX

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

STIP

• 1D: 0.05%
• 1M: 0.11%
• YTD: 1.02%
• 6M: 1.38%
• 1Y: 3.99%
• 3Y*: 4.69%
• 5Y*: 3.49%
• 10Y*: 3.11%

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

MMAX vs. STIP - Expense Ratio Comparison

MMAX has a 0.50% expense ratio, which is higher than STIP's 0.06% expense ratio.

MMAX

iShares Large Cap Max Buffer Mar ETF

STIP

iShares 0-5 Year TIPS Bond ETF

Return for Risk

MMAX vs. STIP — Risk / Return Rank

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

STIP

STIP Risk / Return Rank: 95
STIP Sharpe Ratio Rank: 94
STIP Sortino Ratio Rank: 96
STIP Omega Ratio Rank: 96
STIP Calmar Ratio Rank: 96
STIP Martin Ratio Rank: 95

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.

MMAX vs. STIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap Max Buffer Mar ETF (MMAX) and iShares 0-5 Year TIPS Bond ETF (STIP). 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	STIP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.19	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.27	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.82	1.05	+1.77

Correlation

The correlation between MMAX and STIP is -0.01. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

MMAX vs. STIP - Dividend Comparison

MMAX's dividend yield for the trailing twelve months is around 1.30%, less than STIP's 3.93% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
MMAX iShares Large Cap Max Buffer Mar ETF	1.30%	1.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
STIP iShares 0-5 Year TIPS Bond ETF	3.93%	4.11%	2.62%	2.84%	6.04%	4.15%	1.40%	2.06%	2.44%	1.59%	0.89%

Drawdowns

MMAX vs. STIP - Drawdown Comparison

The maximum MMAX drawdown since its inception was -1.93%, smaller than the maximum STIP drawdown of -5.50%. Use the drawdown chart below to compare losses from any high point for MMAX and STIP.

Drawdown Indicators

	MMAX	STIP	Difference
Max Drawdown Largest peak-to-trough decline	-1.93%	-5.50%	+3.57%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.95%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-5.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-5.50%	—
Current Drawdown Current decline from peak	0.00%	-0.24%	+0.24%
Average Drawdown Average peak-to-trough decline	-0.11%	-1.00%	+0.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.28%	—

Volatility

Volatility by Period

	MMAX	STIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.59%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.97%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.61%	1.83%	+0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.61%	2.76%	-0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.61%	2.45%	+0.16%