SIXD vs. MMAX
SIXD (AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF) and MMAX (iShares Large Cap Max Buffer Mar ETF) are both Defined Outcome funds. Both are actively managed. A 0.69 correlation means they provide meaningful diversification when combined. SIXD charges 0.74%/yr vs 0.50%/yr for MMAX.
Performance
SIXD vs. MMAX - Performance Comparison
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Returns By Period
In the year-to-date period, SIXD achieves a 5.81% return, which is significantly higher than MMAX's 2.86% return.
SIXD
- 1D
- -0.61%
- 1M
- -0.75%
- YTD
- 5.81%
- 6M
- 5.37%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MMAX
- 1D
- -0.15%
- 1M
- -0.06%
- YTD
- 2.86%
- 6M
- 2.99%
- 1Y
- 7.01%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SIXD vs. MMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SIXD AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF | 5.81% | -0.00% |
MMAX iShares Large Cap Max Buffer Mar ETF | 2.86% | 0.23% |
Correlation
The correlation between SIXD and MMAX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 22, 2025 | 0.69 |
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Return for Risk
SIXD vs. MMAX — Risk / Return Rank
SIXD
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MMAX
SIXD vs. MMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF (SIXD) 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.
| SIXD | 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
SIXD vs. MMAX - Drawdown Comparison
The maximum SIXD drawdown since its inception was -4.69%, which is greater than MMAX's maximum drawdown of -1.93%. Use the drawdown chart below to compare losses from any high point for SIXD and MMAX.
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Drawdown Indicators
| SIXD | MMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.69% | -1.93% | -2.76% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.46% | — |
Current DrawdownCurrent decline from peak | -1.30% | -0.35% | -0.95% |
Average DrawdownAverage peak-to-trough decline | -0.80% | -0.11% | -0.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.09% | — |
Volatility
SIXD vs. MMAX - Volatility Comparison
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Volatility by Period
| SIXD | 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 | 7.64% | 1.43% | +6.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.64% | 2.48% | +5.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.64% | 2.48% | +5.16% |
SIXD vs. MMAX - Expense Ratio Comparison
SIXD has a 0.74% expense ratio, which is higher than MMAX's 0.50% expense ratio.
Dividends
SIXD vs. MMAX - Dividend Comparison
SIXD has not paid dividends to shareholders, while MMAX's dividend yield for the trailing twelve months is around 1.28%.
| Position | TTM | 2025 |
|---|---|---|
MMAX iShares Large Cap Max Buffer Mar ETF | 1.28% | 1.31% |
SIXD AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF | 0.00% | 0.00% |
Frequently Asked Questions
SIXD and MMAX have a correlation of 0.69, 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 0.74% for SIXD.
MMAX has the higher dividend yield at 1.28%, compared with 0.00% for SIXD.
They also come from different issuers: Allianz and iShares. Their fees differ too: 0.74% for SIXD and 0.50% for MMAX.
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