MMAX vs. VTI
MMAX (iShares Large Cap Max Buffer Mar ETF) and VTI (Vanguard Total Stock Market ETF) are both exchange-traded funds - MMAX is a Defined Outcome fund actively managed by iShares, while VTI is a Large Cap Blend Equities fund tracking the CRSP US Total Market Index. MMAX is actively managed, while VTI is passively managed. Over the past year, MMAX returned 7.29% vs 27.18% for VTI. A 0.71 correlation means they provide meaningful diversification when combined. MMAX charges 0.50%/yr vs 0.03%/yr for VTI.
Performance
MMAX vs. VTI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MMAX achieves a 3.01% return, which is significantly lower than VTI's 10.35% return.
MMAX
- 1D
- -0.04%
- 1M
- 0.09%
- YTD
- 3.01%
- 6M
- 3.19%
- 1Y
- 7.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VTI
- 1D
- -0.32%
- 1M
- 0.55%
- YTD
- 10.35%
- 6M
- 9.59%
- 1Y
- 27.18%
- 3Y*
- 21.19%
- 5Y*
- 12.36%
- 10Y*
- 15.31%
MMAX vs. VTI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MMAX iShares Large Cap Max Buffer Mar ETF | 3.01% | 6.04% |
VTI Vanguard Total Stock Market ETF | 10.35% | 23.04% |
Correlation
The correlation between MMAX and VTI is 0.70, 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 | 0.70 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2025 | 0.71 |
The correlation between MMAX and VTI has been stable across timeframes, ranging from 0.70 to 0.71 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MMAX vs. VTI — Risk / Return Rank
MMAX
VTI
MMAX vs. VTI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap Max Buffer Mar ETF (MMAX) and Vanguard Total Stock Market ETF (VTI). 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.
| MMAX | VTI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.01 | ||
| Sortino ratioReturn per unit of downside risk | +6.39 | ||
| Omega ratioGain probability vs. loss probability | 2.35 | 1.38 | +0.96 |
| Calmar ratioReturn relative to maximum drawdown | 15.86 | 3.06 | +12.80 |
| Martin ratioReturn relative to average drawdown | 84.16 | 13.68 | +70.48 |
Loading charts...
Drawdowns
MMAX vs. VTI - Drawdown Comparison
The maximum MMAX drawdown since its inception was -1.93%, smaller than the maximum VTI drawdown of -55.45%. Use the drawdown chart below to compare losses from any high point for MMAX and VTI.
Loading charts...
Drawdown Indicators
| MMAX | VTI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.93% | -55.45% | +53.52% |
Max Drawdown (1Y)Largest decline over 1 year | -0.46% | -8.92% | +8.46% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.30% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.36% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.00% | — |
Current DrawdownCurrent decline from peak | -0.20% | -1.48% | +1.28% |
Average DrawdownAverage peak-to-trough decline | -0.11% | -8.01% | +7.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.09% | 1.99% | -1.90% |
Volatility
MMAX vs. VTI - Volatility Comparison
The current volatility for iShares Large Cap Max Buffer Mar ETF (MMAX) is 0.52%, while Vanguard Total Stock Market ETF (VTI) has a volatility of 4.74%. This indicates that MMAX experiences smaller price fluctuations and is considered to be less risky than VTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MMAX | VTI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 4.74% | -4.22% |
Volatility (6M)Calculated over the trailing 6-month period | 1.06% | 9.96% | -8.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.42% | 12.76% | -11.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.48% | 17.49% | -15.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.48% | 18.35% | -15.87% |
MMAX vs. VTI - Expense Ratio Comparison
MMAX has a 0.50% expense ratio, which is higher than VTI's 0.03% expense ratio.
Dividends
MMAX vs. VTI - Dividend Comparison
MMAX's dividend yield for the trailing twelve months is around 1.28%, more than VTI's 1.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MMAX iShares Large Cap Max Buffer Mar ETF | 1.28% | 1.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VTI Vanguard Total Stock Market ETF | 1.02% | 1.12% | 1.27% | 1.44% | 1.66% | 1.21% | 1.42% | 1.78% | 2.04% | 1.71% | 1.92% | 1.98% |
Frequently Asked Questions
MMAX and VTI have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTI has higher volatility (4.74%) compared to MMAX (0.52%). In terms of maximum drawdown, MMAX dropped -1.93% vs VTI's -55.45%.
On 1-year performance, VTI leads with 27.18% vs 7.29% for MMAX. On fees, VTI is cheaper at 0.03% per year. On volatility, MMAX has been the lower-risk option at 0.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, VTI has performed better with a 27.18% return vs 7.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTI is cheaper with a 0.03% expense ratio, compared with 0.50% for MMAX.
MMAX has the higher dividend yield at 1.28%, compared with 1.02% for VTI.
MMAX is categorized as Defined Outcome, while VTI is Large Cap Blend Equities. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.50% for MMAX and 0.03% for VTI.
MMAX currently has the higher Sharpe Ratio (5.15 vs 2.14), 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.
Find the right allocation for MMAX and VTI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer