RB vs. MMAX
RB (ProShares Russell 2000 Dynamic Daily Buffer ETF) and MMAX (iShares Large Cap Max Buffer Mar ETF) are both Defined Outcome funds. RB is passively managed, while MMAX is actively managed. At a 0.46 correlation, their price movements are largely independent. RB charges 0.58%/yr vs 0.50%/yr for MMAX.
Performance
RB vs. MMAX - Performance Comparison
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Returns By Period
In the year-to-date period, RB achieves a 8.33% return, which is significantly higher than MMAX's 2.86% return.
RB
- 1D
- -0.14%
- 1M
- 1.83%
- YTD
- 8.33%
- 6M
- 8.01%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MMAX
- 1D
- -0.15%
- 1M
- -0.06%
- YTD
- 2.86%
- 6M
- 2.99%
- 1Y
- 7.01%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RB vs. MMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
RB ProShares Russell 2000 Dynamic Daily Buffer ETF | 8.33% | 10.85% |
MMAX iShares Large Cap Max Buffer Mar ETF | 2.86% | 3.76% |
Correlation
The correlation between RB and MMAX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.46 |
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Return for Risk
RB vs. MMAX — Risk / Return Rank
RB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MMAX
RB vs. MMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Russell 2000 Dynamic Daily Buffer ETF (RB) and iShares Large Cap Max Buffer Mar ETF (MMAX). 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.
| RB | MMAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 2.26 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 15.24 | — |
| Martin ratioReturn relative to average drawdown | — | 78.37 | — |
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Drawdowns
RB vs. MMAX - Drawdown Comparison
The maximum RB drawdown since its inception was -2.09%, which is greater than MMAX's maximum drawdown of -1.93%. Use the drawdown chart below to compare losses from any high point for RB and MMAX.
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Drawdown Indicators
| RB | MMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.09% | -1.93% | -0.16% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.46% | — |
Current DrawdownCurrent decline from peak | -0.14% | -0.35% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -0.43% | -0.11% | -0.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.09% | — |
Volatility
RB vs. MMAX - Volatility Comparison
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Volatility by Period
| RB | MMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.54% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.08% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 6.55% | 1.43% | +5.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.55% | 2.48% | +4.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.55% | 2.48% | +4.07% |
RB vs. MMAX - Expense Ratio Comparison
RB has a 0.58% expense ratio, which is higher than MMAX's 0.50% expense ratio.
Dividends
RB vs. MMAX - Dividend Comparison
RB's dividend yield for the trailing twelve months is around 1.97%, more than MMAX's 1.28% yield.
| Position | TTM | 2025 |
|---|---|---|
MMAX iShares Large Cap Max Buffer Mar ETF | 1.28% | 1.31% |
RB ProShares Russell 2000 Dynamic Daily Buffer ETF | 1.97% | 1.78% |
Frequently Asked Questions
RB and MMAX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MMAX is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MMAX is cheaper with a 0.50% expense ratio, compared with 0.58% for RB.
RB has the higher dividend yield at 1.97%, compared with 1.28% for MMAX.
They also come from different issuers: ProShares and iShares. Their fees differ too: 0.58% for RB and 0.50% for MMAX.
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